💹 Economy & Policy
• India and the U.S. are edging closer to a trade deal as tariff tensions ease, paving the way for smoother bilateral commerce.
• GST revisions are expected to boost organised apparel sector revenue by 200 bps, keeping growth steady at 13–14%, says a report.
• RBI sold $7.6 billion in August to manage rupee volatility; the REER fell to 97.6, reflecting mild depreciation pressure.
• UK businesses are accelerating their India expansion plans following progress on the post-FTA framework.
📈 Equity Markets
• Nifty closed around 25,850, up 0.5%, maintaining a constructive uptrend through the Diwali week amid strong domestic cues.
• Nifty PSU Banks led the gains with broad-based buying; technical momentum suggests the rally could extend near term.
• Nifty’s festive rally remains intact — strong EMAs, higher highs, and firm sectoral leadership keep sentiment positive, though RSI above 70 hints at short-term consolidation near 25,900–26,000.
• Wall Street surged overnight — Dow up 1.1%, S&P 500 up 1.07%, and Nasdaq up 1.37% — on strong earnings and easing U.S.–China trade tensions.
• Asian markets rallied sharply — Nikkei hit a record near 50,000, Hang Seng gained 1%, as optimism around Fed rate cuts lifted risk appetite.
• European indices also rose 0.5–1%, buoyed by global growth optimism and strong corporate results.
🏦 Companies & Sectors
• Oil prices fell to $60/barrel, their lowest in five months, as oversupply concerns outweighed Middle East tension risks.
• The organised retail and consumption sectors are expected to outperform in Q3 amid festive momentum and rate-cut expectations.
🌏 Global & Commodities
• Global equities extended their rally, driven by strong corporate earnings and improving geopolitical sentiment.
• Gold prices edged higher, while oil weakened, reflecting investor rotation into risk assets amid easing global tensions.
✨ Investor Note:
Today’s Diwali Muhurat Trading session (1:30–3:00 PM IST) marks the symbolic start of the new Samvat year. Markets enter the festival with strong domestic momentum, global tailwinds, and sectoral leadership from banks, autos, and consumption plays.