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Market Outlook: Indian markets are likely to open weak as Gift Nifty declined 0.15% to 22,557, following a 0.76% decline in Nifty 50 to 22,603 on 7th October. Global cues were also negative, with the S&P 500, Dow Jones and Nasdaq 100 falling 0.22%, 0.66% and 0.21%, respectively. The key domestic overhang is the RBI’s 25-bps repo rate hike to 5.50% and shift to a calibrated tightening stance, with FY27 CPI forecast raised to 5.2%. Nifty’s immediate support is at 22,500–22,400, while 23,000 remains the key resistance. The rupee at rs 96.78/$ and the 10-year G-sec yield at 7.24% remain additional concerns for market sentiment.
 

FII & DII Activity: FIIs remained aggressive sellers, selling Rs 6,121 crore on 7th October, more than double the previous day’s outflow, taking October FII outflows to Rs 23,266 crore. DIIs bought Rs 4,597 crore, absorbing around 75% of the foreign selling. FIIs have now remained net sellers across all four sessions of October, while DIIs have remained buyers throughout, providing some cushion to the market. Continued FII selling, rupee weakness and elevated bond yields remain key risks for liquidity and market valuations.
 

Sector Activity: Sectoral performance remained weak, with Nifty Metal declining 2.33%, Auto 1.58%, IT 1.34%, PSE 1.22%, India Manufacturing 1.16% and Consumer Durables 1.14%. FMCG fell 0.89%, Consumer 0.88% and Services 0.62%, while Oil & Gas and Pharma declined 0.51% and 0.43%, respectively. Banks were relatively resilient, with Private Banks gaining 0.08% and PSU Banks rising 1.00%, despite Nifty Bank declining 0.13%. National Aluminium (-4.73%), Adani Enterprises (-3.75%), Titan (-3.80%) and JSW Steel (-2.35%) were among the major losers.
 

Long, Short, Long Unwinding & Short Covering: Long build-up was seen in Bank of Maharashtra (+3.8% OI, +4.2% price), Kalyan Jewellers (+3.7%, +3.8%), LIC Housing Finance (+2.8%, +2.7%), Paytm (+3.0%, +3.6%) and PNB (+2.7%, +2.4%). Short build-up was visible in National Aluminium (+4.7% OI, -4.7% price), Titan (+4.0%, -3.8%), Adani Enterprises (+3.9%, -3.8%), Tube Investments (+3.3%, -3.4%) and other counters. Long unwinding was seen in AU Bank (-3.1% OI), Biocon (-3.0%), IDFC First Bank (-2.5%), Cochin Shipyard (-2.4%) and GMR Airports (-2.4%). Short covering was recorded in Union Bank (-3.0% OI, +2.8% price), PNB Housing (-2.6%, +2.6%), Jubilant FoodWorks (-2.4%, +2.4%), Adani Green (-2.4%, +2.2%) and Fortis (-2.0%, +2.0%).
 

Top 5 News:

Polycab India: NCLT Ahmedabad admitted an insolvency petition filed by Asier Metals over an alleged operational debt of Rs 2.79 crore. Polycab termed it a commercial dispute and plans to appeal before NCLAT. The company highlighted FY26 net cash of over rs 4,000 crore and stated that it expects no material business impact.
Larsen & Toubro: Received a Limited Notice to Proceed from DVC CIL Power for the 2×800 MW Chandrapura thermal plant in Jharkhand. The order falls under L&T’s Rs 5,000–10,000 crore classification and covers boilers, turbines, generators, electrostatic precipitators and associated construction and commissioning. Ventura Daily Market Update 8th…
Inox Green Energy Services: Its subsidiary Vibhav Energy completed payment of Rs 550 crore for Wind World India’s 4.5 GW wind O&M business. Inox Green will hold 75% of Vibhav Energy, with the acquired portfolio generating Rs 580 crore revenue in FY26 and carrying a 5% contracted annual price escalation.
Tata Steel: Provisional Q2 FY27 India crude steel production increased to 6.21 MT from 5.64 MT YoY, while India deliveries rose to 5.97 MT from 5.55 MT. H1 India production and deliveries stood at 11.97 MT and 11.14 MT, respectively, although European deliveries declined.
Kalyan Jewellers: Q2 FY27 consolidated revenue grew over 26%, with India revenue up around 27% and same-store sales growth of 20%. International revenue increased around 18%, Candere revenue rose 64%, and non-gold-metal-loan debt was reduced to zero during the quarter.

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