💹 **Economy & Policy**
• **India Inc’s Q2 revenue grew modestly**, while profitability declined about **0.5%**, as higher input costs and weaker exports weighed on margins, said a report.
• **Trump stated that India will reduce Russian oil purchases to “almost nothing”** by year-end as part of the developing India–U.S. trade framework.
• The **new Defence Procurement Manual 2025** aims to speed up defence revenue procurement and **increase private sector participation**.
• **India’s GDP is expected to grow 6.7–6.9% in FY26**, according to Deloitte India, citing stable macro fundamentals and resilient domestic demand.
• **High U.S. tariffs may cut India’s leather industry revenue by 10–12%** this fiscal, said Crisil, as export competitiveness weakens.
📈 **Equity Markets**
• **Nifty opened nearly 200 points higher**, touching an intraday high of **26,104**, but profit booking in the second half erased most gains.
The index ended near **25,900**, forming a bearish long-wick candle, indicating rejection at higher levels.
• **Nifty IT outperformed**, showing sustained buying momentum; charts suggest the uptrend could continue in the near term.
• **Options data** shows strong support at **25,800–25,850**, with resistance at **25,900–26,000**, and heavy call writing at **26,200–26,300**, implying possible short-term consolidation.
• **US markets closed higher** — S&P 500 +0.58%, Nasdaq +0.89%, Dow +0.31% — ahead of the key U.S. inflation print, expected to rise to **3.1% YoY**.
• **Asian markets rallied sharply** as Trump and Xi confirmed their **Oct 30 summit** in South Korea:
• Nikkei +1.15% (record high 49,216)
• Kospi +1.35%
• Hang Seng +0.72%
• **GIFT Nifty indicates a 56-point gap-up open**, while Sensex closed Thursday at **84,556 (+130 pts)**.
🏦 **Companies & Tech**
• **Intel surged 6–7%** in after-hours trade after a strong Q3 earnings beat ($0.23 EPS vs $0.01 expected) and an $8.9 billion U.S. government AI-chip investment boost.
• **Google’s new quantum computer “Willow”** reportedly outperformed traditional supercomputers — a milestone hailed by Sundar Pichai as a **quantum breakthrough**.
🌏 **Global & Commodities**
• **Crude oil slipped 0.5%** to $61.47 (WTI) and $65.67 (Brent) after Wednesday’s sharp surge on U.S. sanctions against Russian majors.
• **Gold corrected further** to ₹1,25,890 per 10 g (24K) amid heavy profit-booking after this week’s record drop.
• **Rupee traded stable** at 87.74–87.80 per USD, showing resilience amid global risk-on sentiment.