Financial Summary: Thursday, October 8, 2026

Iran Attacks Tanker in Persian Gulf, Brent Crude Tops $102

Brent crude futures rose 2.15% to $102.35, with US WTI crude up 1.77% to $89.84, as Iran attacked a tanker in the Persian Gulf, prompting supply disruption fears and triggering a global stock selloff.

Fed Minutes Signal Another Rate Hike Before Year-End

Minutes from the Federal Reserve's latest meeting show officials expect at least one more rate hike this year, though they gave no clear timing. The release reinforces the central bank's cautious stance as it weighs persistent inflation against economic risks. Markets now await further guidance on the pace and endpoint of tightening.

Trump proposes raising OPT fee from $500 to $70,000 for F-1 students

The Trump administration has proposed a massive increase in the Optional Practical Training (OPT) fee for F-1 students, from $500 to $70,000. The proposal, which would significantly impact international students seeking to work in the US after graduation, has sparked widespread discussion and analysis. Details are still emerging on who would bear the cost and how the fee would be implemented.

Gold rebounds ₹586 as buyers return; JPMorgan forecasts $6,300 by 2027

Gold prices recovered ₹586 on bargain buying after touching a one-month low, with silver also gaining ₹245. The rebound came despite pressure from rising bond yields and a stronger dollar, while JPMorgan projected gold could reach $6,300 by 2027. City-wise rate updates across India showed mixed but broadly firmer levels.

Sensex Plunges 1,072 Points as ₹13 Lakh Crore Wiped Out

Indian equities suffered a sharp sell-off on Thursday, with the Sensex crashing 1,072 points and the Nifty hitting a new 2026 low, erasing ₹13 lakh crore in market capitalization. Analysts suggest the Nifty may be in its final capitulation phase, with a potential reversal that could lift the index to 23,800. Meanwhile, several Sensex stocks, including M&M and Maruti Suzuki, touched 52-week lows, while Infosys, Tech Mahindra, Adani Enterprises, and ITC were among the top gainers and losers.

SEBI Introduces Colour-Coded Risk-O-Meter for Debt Securities

SEBI has mandated a colour-coded credit risk-o-meter for debt securities to enhance investor understanding of credit risk. Additionally, the regulator relaxed norms for debt private placements, allowing up to 17 ISINs per issuer. These measures aim to improve transparency and ease debt-raising processes.

TCS Q2 Results in Focus as IT Stocks Lift Nifty Despite Rate Hike

TCS shares are in the spotlight ahead of its Q2 results, with the stock surpassing a key resistance level and IT stocks lifting the Nifty despite a rate hike and FII selling pressure. Analysts expect margin expansion even as revenue growth remains modest, and investors are watching for management commentary on deal wins and demand outlook. Broader markets opened weak but found support from the IT pack.

TCS Q2 profit climbs 15% to ₹13,884 crore, declares ₹12 dividend

TCS reported a 15% year-on-year rise in Q2 profit to ₹13,884 crore and declared a second interim dividend of ₹12 per share for FY27, with a record date of October 14. US dollar revenue met estimates, while AI now accounts for over 10% of the topline with an annualised run rate exceeding $3 billion. The company also added nearly 4,300 employees in the quarter, pushing headcount to a five-quarter high.

Adani Enterprises Secures CARE Ratings Upgrade to AA with Stable Outlook

Adani Enterprises is in focus after CARE Ratings upgraded its credit rating to AA with a stable outlook, signaling improved financial health. The stock features prominently in multiple 'stocks to watch' lists alongside TCS, Ola Electric, Tata Power, and other key names. Broader market attention remains on a mix of earnings and corporate developments across sectors.

Paytm, MobiKwik, Pine Labs shares plunge up to 10% on UPI MDR delay

Shares of Paytm, MobiKwik, and Pine Labs fell as much as 10% after reports that India may defer the proposed 0.4% UPI merchant discount rate (MDR) on transactions above ₹2,000. The delay is seen as a blow to payment companies' revenue prospects, though Goldman Sachs maintained a favourable risk-reward on Paytm with a target above ₹2,000. Meanwhile, experts argue the deferral is unjustified since 95% of merchant payments would face no impact.

RBI hikes repo rate 25bps to 5.50%, signals calibrated tightening

The RBI raised the repo rate by 25 basis points to 5.50% and shifted its stance to calibrated tightening. Analysts are now advising investors on positioning across equity, debt, and SIPs, while comparing opportunities in banks versus NBFCs. SBI Research expects a 50 bps jumbo hike in December, which would take the repo rate to 6%.

Muthoot Microfin AUM Tops ₹15,300 Crore as Sector Eyes 10-15% Growth

Muthoot Microfin's assets under management crossed ₹15,300 crore, with its cost of funds entering single digits, signaling improved funding conditions. Industry leaders project 10-15% sector growth by FY27-end, though early recovery signs are tempered by legacy bad loans still weighing on balance sheets.

Samsung forecasts record $80.2B Q3 operating profit on AI chip demand

Samsung has projected a record third-quarter operating profit of roughly $80 billion, driven by surging demand for AI-related memory chips. The forecast, if confirmed, would mark the highest quarterly profit ever reported by any technology company. The announcement has intensified investor focus on Samsung's upcoming full earnings release and its ability to sustain AI-driven momentum.

Apollo, banks in talks to fund SpaceX's $40bn Nvidia GPU purchase

Apollo Global Management and other banks are in discussions to finance SpaceX's $40 billion purchase of Nvidia GPUs. The deal, if completed, would be a major investment in AI infrastructure and has kept investors like Jim Cramer bullish on Nvidia. Talks are ongoing, with no final agreement announced yet.

Analyst slams Anthropic's $2 trillion IPO target as 'most ridiculous'

An analyst has publicly dismissed Anthropic's sought-after $2 trillion IPO valuation as the 'most ridiculous IPO' of the year. A separate research firm now values the AI company 92% below that target, intensifying scrutiny of the offering. The gap between Anthropic's asking price and independent estimates has become the central controversy as the IPO approaches.