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Stocks in News

* ENDURANCE TECHNOLOGIES: The company began commercial production of two-wheeler alloy wheels at its new Aurangabad plant on Oct. 11, with a capacity of 1.5 lakh sets per month, expandable to 1.8 lakh sets as new OEM orders are secured.

* LUPIN: The company said the USFDA completed a pre-approval inspection of its Somerset, New Jersey facility from Sept. 29 to Oct. 10, resulting in one observation.

* BLS INTERNATIONAL SERVICES: The company has been debarred by the Ministry of External Affairs from future tenders and Indian Mission projects for two years, though existing contracts remain unaffected; it expects no material impact as Indian Missions contributed only 12% of revenue and 8% of EBITDA in Q1FY26.

* NHPC: The company completed the trial run of the final 85.72 MW phase of its 300 MW Karnisar Solar Project in Bikaner, Rajasthan, making it ready for commercial operations.

* RELIANCE POEWR: The company’s Executive Director and CFO, Ashok Kumar Pal, was arrested by the Enforcement Directorate in a money laundering case and has stepped down, while clarifying that Anil Ambani, off the board for 3.5 years, is not linked to the action.

* BIOCON: The company’s new Cranbury, New Jersey facility cleared a USFDA GMP inspection with one observation, which will be addressed and is not expected to affect operations.

* JITF INFRA LOGISTICS: The company’s subsidiary signed a Rs 320 crore deal with Swachh Andhra Corporation to develop a 12 MW waste-to-energy plant in Andhra Pradesh.

* BASF INDIA: The company signed a binding agreement with Carlyle to form a global standalone entity for its coatings business.

* SENCO GOLD: The company launched a new franchise store in Uttar Pradesh, bringing its total stores in India to 184.

Economic News

* India taking up export barriers with Russia: India is actively addressing over 65 non-tariff barriers impacting its marine and agricultural exports to Russia, aiming to reduce a significant trade deficit. Key concerns include obtaining approval for Indian marine product units for shrimp exports, a crucial step for diversifying shipments after US tariffs.

Global News

* U.S. consumer confidence steady amid shutdown, inflation worries persist: U.S. consumer sentiment held steady at 55.0 in October, showing resilience despite a partial government shutdown that disrupted services, delayed flights, and furloughed federal workers. The University of Michigan survey noted that inflation and labor market concerns remain top of mind, though the shutdown has had little immediate impact on economic outlooks. Sentiment dipped among Democrats but remained firm among Republicans and independents. Consumers were wary of future finances and major purchases, yet spending is supported by substantial wealth cushions and a low savings rate. Inflation expectations eased slightly for the next year to 4.6%, while the five-year outlook stayed at 3.7%. Economists expect consumer spending to stay solid in Q3, and the Federal Reserve is likely to deliver another rate cut at its Oct. 28-29 meeting to support the labor market. Wall Street saw declines following President Trump’s threat of higher Chinese tariffs, with the dollar weakening and Treasury yields falling.

Technical Snapshot

Key Highlights:

NIFTY SPOT: 25285.35 (0.96%)

TRADING ZONE:

Resistance : 25350 (Pivot Level) and 25500 (Key Resistance)

Support: 25150 (Pivot Level) and 25050 (Key Support).

BROADER MARKET: OUTPERFORMED MIDCAP 150: 58697.4 (1.44%),

SMALLCAP 250: 18133.35 (1.36%)

VIEW: BULLISH TILL ABOVE 25050 (Key Support).

BANKNIFTY SPOT: 56609.75 (1.06%)

TRADING ZONE:

Resistance: 57000 (Pivot Level) / 57300 (Key Resistance)

Support: 56300 (Pivot Level) / 55800 (Key Support)

VIEW: BULLISH TILL ABOVE 55800 (Key Support)

Government Security Market:

* The Inter-bank call money rate traded in the range of 4.75%- 5.75% on Friday ended at 4.95% .

* The 10 year benchmark (6.33% GS 2035) closed at 6.5370% on Friday Vs 6.5239% on Thursday .

Global Debt Market:

U.S. Treasury yields were lower on Friday as the U.S. government shutdown entered its 10th day, extending the economic data blackout. At 6:00 a.m. ET, the 10-year Treasury was down over 3 basis points to 4.11%, while the 2-year Treasury yield was over 1 basis point lower to 3.581%. The longer-maturity 30-year Treasury yield was over 4 basis points lower at 4.689%. On Friday, the U.S. government shutdown reached its 10th day after the Senate failed to pass a stop-gap funding proposal for the seventh time, with Republican and Democrat lawmakers making little progress on negotiations. The shutdown has resulted in an economic data blackout which leaves investors “flying blind to some extent on the US economy,” Deutsche Bank analysts said in a note. Instead investors turned to the Federal Open Market Committee minutes for clues about the shape of the economy this week. Consumer sentiment data is also slated for release. “Of course, the mood music hasn’t been helped by the government shutdown, which is now entering its 10th day. And the fear is that the longer it lasts, the worse the economic impact will be, as increasing numbers of worker’s miss pay checks from here,” the Deutsche Bank analysts said. “So even if they end up getting back pay like in previous shutdowns, there’s still a nearterm impact. In terms of the latest, there are no signs yet of a compromise emerging between Republicans and Democrats, and expectations for a near-term resolution are continuing to decline,” the analysts added.

10 Year Benchmark Technical View :

The 10 year Benchmark (6.33% GS 2035) yield likely to move in the range of 6.52% to 6.54% level on Monday

SEBI Registration number is INH000000081.

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