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Stocks in News

* PARADEEP PHOSPATES: The company’s board approved the NCLTsanctioned merger scheme with Mangalore Chemicals and Fertilizers.

* VENUS PIPES & TUBES: The company allotted 1.2 lakh equity shares at Rs.1,700 per share to warrant holders, completing an equity infusion of Rs.71.4 crore through the final tranche of warrant conversion.

* ASHOKA BUILDCON: The company acquired 44.05 lakh Class A and 1 crore Class B CCDs valued at up to Rs.882 crore.

* LUPIN: The company plans to set up a manufacturing unit in Florida with a total investment of $250 million.

* IRB INFRASTRUCTURE DEVELOPER: The company will acquire 11.9 crore units of IRB InvIT Fund for up to Rs.753 crore.

* CENTRUM ELECTRONIC: The company signed an MoU with Garden Reach Shipbuilders to enhance indigenous high-tech navigation systems for the Indian Navy.

* GR INFRAPROJECT: The company received a Rs.290 crore Letter of Award from Jharkhand for constructing the Giridih Bypass Road.

* COAL INDIA: The company signed an agreement with IRCON International to develop rail infrastructure.

* PVR INOX: The company launched India’s first luxury dine-in cinema at M5 Ecity Mall, Bengaluru.

* HFCL: The company received a Rs.303 crore order to supply optical fiber cables to a leading international customer.

* GARUDA CONSTRUCTION: The company received a Rs.144 crore work order for civil works in a Mumbai redevelopment project.

Economic News

* SEZ units seek QCO relief, local sale flexibility: Special Economic Zone developers and units are seeking exemptions from quality control orders, minimum import price, and port restrictions to facilitate imports. They also requested policy amendments for Free Trade Warehousing Zones to import new vehicles and greater flexibility for domestic sales and reverse job work to utilize unutilized capacities.

Global News

* RBNZ shocks markets with a 50-bp rate cut to 2.5%, signaling more easing amid a fragile economy: Federal Reserve officials signaled growing concern over risks to the U.S. labor market, suggesting an interest rate cut may be warranted, but remained cautious about persistent inflation, according to minutes from their September 16-17 meeting. While many participants favored moving rates toward a neutral level to support employment, a majority also highlighted upside inflation risks, including readings above the 2% target and tariff-related uncertainties. The committee was divided on timing and scale: some urged caution, a few supported holding rates steady, and one, Governor Stephen Miran, advocated a larger half-percentage-point cut with more to follow. Last month, the Fed lowered rates by 0.25% to 4.00%-4.25%, with projections showing a split among officials nine expecting two cuts, Miran anticipating several more, and nine expecting one or none. Fed Chair Jerome Powell described policy as “clearly restrictive” but stayed noncommittal on further cuts. Markets currently price in another quarter-point reduction at the October 28-29 meeting. Analysis is complicated by a federal government shutdown delaying September jobs data and upcoming inflation figures.

Technical Snapshot

Key Highlights:

NIFTY SPOT: 25046.15 (-0.25%)

TRADING ZONE:

Resistance : 25150 (Pivot Level) and 25300 (Key Resistance).

Support: : 24950 (Pivot Level) and 24850 (Key Support).

BROADER MARKET: Inline MIDCAP 150: 57866.75 (-0.73%),

SMALLCAP 250: 17890.6 (-0.52%) VIEW:BEARISH TILL BELOW 25150 (Pivot Level)

BANKNIFTY SPOT: 56018.25 (-0.39%)

TRADING ZONE:

Resistance: 56300 (Pivot Level) / 56800 (Key Resistance)

Support: 55700 (Pivot Level) / 55300 (Key Support)

VIEW: BEARISH TILL BELOW 56300 (Pivot Level)

Government Security Market:

* The Inter-bank call money rate traded in the range of 4.75%- 5.40% on Wednesday ended at 5.25% .

* The 10 year benchmark (6.33% GS 2035) closed at 6.5030% on Wednesday Vs 6.5101% on Tuesday .

Global Debt Market:

U.S. Treasury yields ticked lower on Wednesday as the government shutdown continued, and investors awaited clues on monetary policy from Federal Reserve officials. The yield on the benchmark 10-year note fell almost 2 basis points by 5:03 a.m. ET to trade around 4.111%. Yields edged downward across the curve, with the longer-dated 30-year Treasury seeing its yield shed around 2 basis points, while those on the 2-year Treasury were flat. Investors are continuing to monitor the U.S. government shutdown, which has now entered its second week as lawmakers struggle to reach a funding agreement. The shutdown has delayed the release of crucial economic data just weeks ahead of the Federal Reserve’s next meeting. Traders are looking ahead to the minutes from the central bank’s most recent Federal Markets Open Committee meeting, which saw policymakers cut the key interest rate by 25 basis points. Several Fed officials will be speaking publicly this week, including Governor Stephen Miran on Wednesday and Chair Jerome Powell on Thursday, with investors hoping their comments could shed some light on the trajectory of U.S. monetary policy. Money markets are overwhelmingly pricing in another rate cut at the FOMC’s October meeting, according to the CME’s FedWatch tool.

10 Year Benchmark Technical View :

The 10 year Benchmark (6.33% GS 2035) yield likely to move in the range of 6.49% to 6.5150% level on Thursday

SEBI Registration number is INH000000081.

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