Financial Summary: Friday, October 16, 2026

GOP's $740M midterm blitz stalls as Trump drags down ticket

Republicans' $740 million midterm campaign is faltering as Trump's unpopularity dampens voter enthusiasm.

SEBI Reverts to VWAP Settlement, Lifting BSE, NSE and Broker Stocks

SEBI has reverted to VWAP-based settlement for the Closing Auction Session, boosting BSE, NSE, and Groww stocks by up to 3%. Analysts view BSE as the primary beneficiary due to improved risk-reward dynamics, with new F&O settlement rules providing time to enhance CAS mechanisms.

Sensex Jumps 1,534 Points as IT Stocks Lead Broad Rally

The BSE Sensex gained 1,534 points, its largest one-day rise in four months, driven by IT stocks amid positive global tech share recovery and lower Treasury yields. The Nifty 50 eyes a second consecutive weekly gain, supported by SEBI relief, while foreign investors sold shares worth 52.85 billion rupees on Thursday.

Gold ETFs gain 1% as fund houses curb lump-sum inflows

Gold ETFs gained up to 1% as fund houses curtailed lump-sum investments in gold fund-of-funds, prompting a rally in jewellery stocks such as PC Jeweller, which hit a new 52-week high, surging 17% on heightened trading volume.

Wipro Shares Jump 4% as Q2 Revenue Grows 9% YoY

Wipro shares rose 4% after Q2 revenue grew 9% year-over-year, surpassing expectations and marking its strongest week in six years. Despite the rally, brokerages remain bearish.

Yes Bank Braces for ₹5,400 Crore AT-1 Reinstatement Hit to Earnings

Yes Bank is facing a potential ₹5,400 crore earnings hit and a 250 basis point blow to its CET1 ratio as it prepares to reinstate AT-1 bonds following a court ruling. The bank's Q2 results are now in focus, with investors weighing strong profit and NII growth against the looming capital impact. An explainer on AT-1 bonds has also highlighted the risks for investors as the saga unfolds.

Jio IPO priced at Rs 1,119 as grey market premium hits 20%

Jio Platforms' IPO is priced at Rs 1,119 per share, with the grey market premium signaling a Rs 220 premium, or roughly 20% above the issue price. Brokerages are recommending investors subscribe, and veteran investor Ramesh Damani expects the offering to be well received. Meanwhile, Mukesh Ambani is mobilizing Reliance's 420,000-strong workforce to drive participation in what is set to be a record IPO.

India Raises Petrol Export Tax, Cuts Diesel Windfall Levy

The Indian government has adjusted its windfall tax regime, increasing the special additional excise duty on petrol exports and reducing the levy on diesel exports, effective October 16. This move reflects changes in global refining margins and domestic supply priorities, amid rising oil prices and tensions in West Asia.

India's forex reserves fall $8.58 billion to $726.03 billion

India's foreign exchange reserves fell by $8.58 billion to $726.03 billion, marking a second consecutive week of decline.

RBI Approves Emirates NBD India Branches Merger With RBL Bank

The Reserve Bank of India has approved the merger of Emirates NBD's India branches with RBL Bank, effective December 1, 2026, facilitating Emirates NBD's exit from direct Indian operations and expanding RBL Bank's presence.

AI Debt Sell-Off Halts as Dow Jumps 550 Points, Asian Stocks Rebound

The Dow Jones gained 550 points as Asian markets rebounded, with the KOSPI rising 2.36% to 5,685.29. Despite AI concerns, the South Korean finance ministry increased market monitoring amid a week of significant declines.

Anand Shah warns AI spending outpaces revenue as CoreWeave sell-off hits valuations

Anand Shah warns that AI spending is outpacing revenue, amid pressure on valuations following the CoreWeave sell-off, prompting broader market reassessment of AI infrastructure economics.