Financial Summary: Friday, October 9, 2026

US suspends Tata, Infosys, Wipro from green card programme

The US has suspended Tata Consultancy Services, Infosys, and Wipro from a green card programme, potentially disrupting talent pipelines for their US operations and impacting India's IT services exports.

Sensex Rebounds 500 Points as Trump Rules Out Iran Strikes

The Bombay Stock Exchange (Sensex) rebounded 854 points, or 1.19%, to close at 72,448, reversing Thursday's losses, after US President Donald Trump indicated no military strikes on Iran before the midterms. The National Stock Exchange's Nifty 50 added 284 points, or 1.28%, to 22,516, with tech stocks, notably Tata Consultancy Services, leading the rally.

Indian gold demand drops as prices rebound to ₹150,900 per 10g

Gold prices in India have rebounded above ₹150,900 per 10g, with futures rising to ₹1.51 lakh/10g, driven by firm spot demand and a weaker dollar.

Sensex Jumps 879 Points as Nifty Reclaims 22,500, Snapping Nine-Week Losing Streak

Indian equity benchmarks rebounded, with the Nifty 50 closing 1.30% higher at 22,520.45, after a nine-week losing streak. Tech stocks led gains, notably Tata Consultancy Services, which surged 5% following strong Q3 results. Geopolitical relief, with the US suspending tech companies from the PERM green-card programme, supported the rally.

TCS Shares Jump 4% as Analysts Split on Q2 Margins

TCS shares rose 4% following Q2FY27 results showing 14.9% year-on-year growth in net profit to ₹13,884 crore and 11.2% revenue growth to ₹73,188 crore, amid mixed analyst views on margin sustainability. Nomura and Motilal Oswal maintained Buy ratings, citing growth from deal bookings and improving international demand.

Thermax shares jump 7% on data center and biogas optimism

Thermax shares rose 7% following upgrades from Kotak Institutional Equities on data center and biogas opportunities. The stock, along with others in the capital goods sector, benefited from positive momentum amid renewed interest in energy transition plays.

HDFC Bank proposes ₹35.9 crore pay for incoming CEO Anup Bagchi

HDFC Bank has proposed a ₹35.9 crore annual pay package for incoming CEO Anup Bagchi, with potential first-year earnings of ₹43 crore, making him the highest-paid banker in the country.

India caps cancer drug trade margins at 30%; hospital stocks rally up to 5%

India has capped trade margins on anti-cancer drugs at 30%, prompting a 5% rally in hospital stocks such as Fortis, Apollo, Max, and Yatharth.

RBI Raises Daily CRR Maintenance to 95% to Drain Liquidity Surplus

The Reserve Bank of India raised the Cash Reserve Ratio (CRR) maintenance to 95% from 90% on October 9, 2026, to manage liquidity, following plans to sell ₹25,000 crore in government bonds via open market operations.

GST Council Proposes E-Commerce Registration, Late Fee Relief for Small Businesses

The GST Council has proposed new rules requiring small businesses to register for e-commerce sales, along with late fee relief and revised return filing norms. The proposals include changes to GST penalties and enforcement provisions, with an aim to reduce the prosecution threshold for smaller taxpayers.

US suspends Indian IT firms from PERM green card programme

The US has suspended major Indian IT firms, including Tata Consultancy Services, from the PERM green card programme, despite visa curbs prompting IT stocks like TCS to rally 4.61%, with the company stating the suspension will not impact its workforce strategy.

AI stocks tumble as OpenAI revenue misses forecasts

AI-related stocks, including Nvidia, Oracle, and CoreWeave, declined sharply following OpenAI's revenue shortfall, raising concerns about AI infrastructure spending.

Nvidia-backed Firmus pulls Australian AI data center IPO

Nvidia-backed Firmus has withdrawn its planned Australian AI data center IPO, citing market volatility, scuttling what would have been a historic listing for the country’s AI infrastructure sector. The firm now plans to pursue private market capital and alternative funding options.