Financial Summary: Wednesday, October 21, 2026

Japan exports climb 16.7% as AI chip and car demand surges

Japan's exports rose 16.7% driven by AI-chip trade and strong car demand.

Trump Says US-India Trade Deal 'Pretty Close' as Rubio Meets Jaishankar

US President Donald Trump indicated a trade deal with India is close to finalization. US Secretary of State Marco Rubio met India's External Affairs Minister S. Jaishankar in Mumbai, discussing trade terms as India seeks tariff advantages for its exports to the US market.

Rubio Visits Reliance's Jamnagar Refinery as U.S. Eyes Indian Refining Muscle

U.S. Secretary of State Marco Rubio visited Reliance's Jamnagar refinery, the world's largest single-site refinery, as the U.S. seeks to leverage Indian refining capacity for energy security.

Brent Crude Tops $110 as War Drives Shipping Costs Sevenfold

Brent crude surpasses $110 per barrel, driving Indian government bond yields to a three-year high of 7.44% as traders monitor Middle Eastern developments.

Sensex Surges 800 Points as IT Stocks Power Market Rebound

The Sensex gained 830 points, or 1.12%, to 74,800, while the Nifty 50 rose 231 points, or 1.01%, to 23,120.90, with IT stocks leading the rally.

Sensex Sheds 1,400 Points as 322 Stocks Hit 52-Week Lows

Indian equities ended sharply lower on Wednesday, with the Sensex plunging 1,400 points from its intraday peak and 322 stocks touching 52-week lows amid a selloff exceeding Rs 8 lakh crore. Rising oil prices and mixed earnings weighed on sentiment, though Infosys, HCL Tech, Bajaj Finance and BSE bucked the trend as top gainers. Analysts attribute the decline to valuation concerns and global cues despite strong corporate earnings.

Jio Platforms' ₹30,213 Crore IPO Fully Subscribed in 100 Minutes

Jio Platforms' ₹30,213 crore IPO was fully subscribed within 100 minutes of opening on Day 1, setting three records even before listing. Reliance Industries shares rose 3% on the news, while market experts and investors like Nikhil Kamath signaled confidence in the issue's long-term value creation potential. The blockbuster response is being read as proof that India's capital markets can absorb mega issues.

LTTS Shares Surge 15% on 16.3% Q2 Margin, Lifting Nifty IT to 10-Month High

L&T Technology Services posted strong Q2 results with margins hitting 16.3%, sending shares up 15% in their biggest single-day gain in five years and pushing the stock past the Rs 4,000 level. The rally lifted the Nifty IT index to a 10-month high, with Jefferies flagging three IT ideas with up to 50% re-rating potential as investors reassess the sector's reversal.

Bajaj Finance lifts AUM guidance as Q2 margin pressure drags shares 3%

Bajaj Finance raised its AUM guidance despite reporting margin pressure in Q2, sending shares down about 3% as investors weighed the trade-off. Brokerages including Jefferies and Nomura remain bullish on asset quality gains, even as the stock's beta underscores its investment volatility. The market is now recalibrating expectations around growth versus profitability.

Jio Platforms IPO opens as Rubio pushes US-India trade deal

Jio Platforms' IPO opened for subscription today, drawing investor attention as Brent crude traded above $110. Separately, US Secretary of State Marco Rubio's exclusive remarks and analyst Ajay Srivastava's comments underscored that tariff cuts and policy certainty will be pivotal to finalizing the India-US trade deal.

India's core sector growth accelerates to 7.9% in September

India's eight core infrastructure sectors grew 7.9% year-on-year in September, up from the previous month, driven by strong coal and power output. The acceleration comes even as economists flag an uncertain industrial outlook, with the sustainability of the momentum in question.

Goldman Sachs projects $100 billion India market-cap boost from AI startup IPOs

Goldman Sachs estimates that AI-led startup IPOs could add up to $100 billion to India's equity market capitalization. The bank's analysis frames a potential wave of AI-focused listings as a major catalyst for the country's market. The projection has been reported across multiple outlets, underscoring growing investor interest in India's AI ecosystem.

Meta Ordered to Pay $25 Billion in New Mexico Cambridge Analytica Case

A New Mexico court has ordered Meta Platforms to pay a $25 billion penalty in a consumer data protection case tied to the Cambridge Analytica scandal. The ruling, reported across multiple outlets, marks one of the largest penalties against the company for privacy violations. Meta has not yet indicated whether it will appeal.