Stock Market Today: All You Need To Know Before Going Into Trade On October 7

Good morning!

All Eyes On RBI MPC

Reserve Bank of India's monetary policy committee will give its verdict on the central bank's repo rate on Wednesday, with many experts and analysts anticipating a rate hike amid inflationary conditions. 

If the MPC hikes the repo rate, it would be the first time since February 2023. In the last meeting, RBI kept key lending rates unchanged at 5.25%. 

GIFT Nifty Check

The GIFT Nifty, an early indicator for the benchmark, traded 0.06% lower or little changed ahead of the opening on Wednesday. The GIFT Nifty is pointing to a muted or slightly lower open for the Indian stock market indices as traders assess possible outcomes of the RBI MPC. 

Asian Markets Check

Asian stocks were mixed on Wednesday, October 7, with investors assessing the latest moves on Wall Street, elevated US Treasury yields and geopolitical risks. 

Japan's Nikkei 225 was flat at the open, while the broader Topix index gained 0.14%.

South Korea's Kospi rose 0.28%, while the small-cap Kosdaq index fell 1.21%. Australia's S&P/ASX 200 was down 0.13%. Mainland China markets remained closed for a holiday.

Commodity Check

Oil prices pushed past $100/barrel levels once again, with Brent crude trading 1.06% higher at $101.65 per barrel. The West Texas Intermediate also rose 1.05% to $90.41 per barrel. 

Gold prices remained elevated on Wednesday with 24 carat gold trading around the Rs.1.50 lakh mark per 10 grams across major Indian cities, and 22 carat gold trading at around the Rs.1.27 lakh mark per 10 grams, while Silver stood at around Rs.2.28 lakh per kg according to reference rates published by All India Bullion (AIB).

On the MCX, gold was trading at Rs.1,50,130 per 10 grams, up Rs.3,590 or 2.44 percent from the previous close of Rs.1,46,540. Silver prices also moved higher on MCX. Silver was trading at Rs.2,27,365 per kg, up Rs.1,125 or 0,49 percent from the previous close of Rs.2,26,240. 

US Stock Market Recap

US stocks rose on Tuesday, with the S&P 500 and Nasdaq Composite hitting fresh intraday records as falling oil prices and Treasury yields eased pressure on equities.

The S&P 500 was up 0.5% in early trading after reaching a new all-time intraday high. The Nasdaq Composite also gained about 0.5% and touched a record level, while the Dow Jones Industrial Average advanced around 205 points, or 0.4%.

Wall Street settled in the green, with S&P 500 gaining 0.58% to close at 7,818.93 , Dow Jones Industrial Average up 0.49% at 51,521.28, while the tech-heavy Nasdaq Composite closing 0.45% higher at 27,599.89.

India Stock Market Recap

The Indian benchmark indices, Sensex and Nifty 50, extended their gains for the second consecutive session, led by gains in Pharma, FMCG, and Oil & Gas stocks amid the weekly derivatives expiry. BSE Sensex closed 0.95% or 685.34 points higher at 73,067.81 levels, while the Nifty 50 ended at 22,776.10 levels, up 220 points or 0.98$%.

Earnings
Kanohar Electricals (Q1, YoY)

• Revenue up 103.4% to Rs 137.1 crore
• EBITDA up 151.3% to Rs 38.7 crore
• EBITDA margin at 28.3% vs 22.8%
• Net profit up 139.5% to Rs 27.3 crore

Glass Wall (Q1, YoY)

• Revenue up 35.6% to Rs 107.4 crore
• EBITDA up 7.5% to Rs 22.8 crore
• EBITDA margin at 21.2% vs 26.8%
• Net profit down 7.5% to Rs 17.3 crore

Karamtara Engineering (Q1, YoY)

• Revenue up 72.2% to Rs 1,581 crore
• EBITDA up 45.1% to Rs 174 crore
• EBITDA margin at 11% vs 13.1%
• Net profit up 45.7% to Rs 87.4 crore

Asset Reconstruction Company (Q1, YoY)

• Total income up 101.1% to Rs 235.5 crore
• Net profit up 54.2% to Rs 89.2 crore vs Rs 57.8 crore

Business Update
Utkarsh Small Finance Bank | Q2 Business Update

• Total disbursements up 54.9% YoY at Rs 3,525 crore
• Total deposits up 6.6% YoY at Rs 23,869 crore
• CASA deposits up 14.3% YoY at Rs 5,121 crore
• Gross loan portfolio up 7.5% YoY at Rs 20,063 crore

Titan | Q2 Business Update

• Consumer business growth at 25% YoY
• Domestic business growth at 22% YoY
• International business growth at 97% YoY
• Jewellery business growth at 21% YoY
• Added 78 stores in Q2
• Total retail store count at 3,758 as of Sept. 30

READ | Trade Setup For Oct. 7: Nifty Finds Hurdle At 22,930 To Extend Pullback Rally Amid Easing Crude Oil Prices

Stocks in news

• United Breweries: Receives Rs 101 crore tax refund from the Income Tax Department.
• Apollo Tyres: CFO Gaurav Kumar resigns to pursue opportunities outside the company.
• Balmer Lawrie: Challenges GST order in Karnataka High Court over FY21 GST dispute.
• Laurus Labs: Invests Rs 12 crore to acquire 1.2 crore shares of KRPL.
• Container Corp: Receives Rs 87 crore order for supply of 12 BLSS wagon rakes.
• Sun Pharma: Establishes endowed professorship at Mount Sinai to advance dermatologic care.
• Axis Solutions: Receives Rs 43.5 crore project from John Cockerill Hydrogen Belgium.
• Mphasis: Bags £35.4 million contract from Social Security Scotland; expands partnership to support over 2 million citizens.
• Marsons: Approves JV with Cleanhill Partners in the US to import and sell transformers in the US and Canada.
• Godrej Consumer Products: Inaugurates first phase of new manufacturing facility in Indonesia.
• Panorama Studios: Income Tax Department concludes search operations; company says business operations continue normally.
• JSW Cement: Commissions 1 MTPA grinding unit in Nagaur; total grinding capacity rises to 25.1 MTPA.
• HCLTech: To invest Rs 500 crore to expand Lucknow IT City.
• TVS Supply Chain: JV TVS SCS ALA allots 1.02 crore shares to TVS Supply Chain and 98 lakh shares to ALA Mena in 51:49 ratio.
• Endurance Technologies: Arm acquires 100% stake in Anna Milena and Fondalpress for €12.34 million.
• KIMS: To acquire 22% stake in Splendid Hospitals for Rs 40 crore, To acquire 51% stake in Insignia Healthcare, To acquire 6% stake in Ushahkal Abhinav Specialty for Rs 15 crore, To acquire 51% stake in Sarvottam Health for Rs 80 crore.

READ | 'SaaSpocalypse' Fades: Wall Street's Software Stocks Hit Fresh 2026 Highs On Easing AI Disruption Fears

• Ola Electric Mobility: Board to meet on Oct. 7 to consider rights issue of up to Rs 1,000 crore.
• Shukra Pharma: Approves allotment of 17.35 lakh shares to promoters.
• Blue Dart Express: Signs MoU with National Capital Region Transport Corporation to explore express parcel movement on the Delhi-Meerut Namo Bharat corridor.
• Arvind: Acquires 46% equity stake in Arvind GCC.
• Spectrum Electrical Industries: Receives NSE and BSE trading approval for 13.7 lakh shares allotted on preferential basis at Rs 2,002 per share.
• Pace Digitek: Total planned capacity expansion of 10 GWh by FY2027-end
• Dhanuka Agritech: Receives tax order of ~Rs 55 crore from Gurugram tax authority.
• Mahindra Lifespace Developers: Arm launches 13.46-acre residential project in Pune with estimated GDV of Rs 3,500 crore.
• ABB India: Appoints Suneel Kumar Munaga as CFO effective Jan. 1, 2027.
• Gabriel India: Enters JV with FASI; approves initial investment of Rs 9.9 crore in JV company.
• Persistent Systems: Shareholders approve increase of borrowing limit up to $1.25 Bn

Board Meetings
Dishman Carbogen - Fund Raising

Bulk & Block Deals    

• D P Wires: Amitabh Harivansh Rai Bachchan bought 1.29 lakh shares at Rs 223.58/share and sold 60,021 shares at Rs 227.57/share.
• One Mobikwik Systems: Bajaj Life Insurance sold 7 lakh shares at Rs 236.49/share; Hara Global Capital Master Fund I acquired 4.32 lakh shares at Rs 227.86/share.
• Satin Creditcare Network: Massachusetts Institute of Technology sold 14.55 lakh shares at Rs 208.36/share.
• Shadowfax Technologies: NewQuest Asia Fund IV (Singapore) sold 40 lakh shares at Rs 287/share.
• Shah Investors Home: AU Small Finance Bank sold 1.35 lakh shares at Rs 171/share.
• Polyplex Corporation: Bhilangana Hydro Power sold 6.07 lakh shares at Rs 1,040 per share; buyer was Secure Investments.

Shares to exit lock-in

• Glottis: 6-month & beyond lock-in; 49 million shares; 53% of total outstanding
• Valiant Labs: 6-month & beyond lock-in; 9 million shares; 20% of total outstanding

F&O Cues
Nifty Oct futures is up 0.79% to 22,799 at a premium of 23 points.
Nifty Options 13 Oct Expiry: Maximum Call open interest at 24,000 and Maximum Put open interest at 21,500.
Securities in ban period: AMBUJACEM, BANDHANBNK, SAIL

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