Financial Summary: Friday, October 23, 2026

Japan core inflation hits 2.1% as energy costs, weak yen bite

Japan's core inflation reached 2.1% in September, its highest level this year, driven by rising energy costs and a weak yen, exceeding the Bank of Japan's 2% target.

Sensex Plunges 725 Points as Crude Hits $114, FIIs Pull Out ₹2,697 Crore

Indian equities extended their slide as crude oil surged to $114 amid Iran tensions, dragging the Sensex down 725 points and pushing Bharat Electronics and three other Sensex stocks to 52-week lows. Government bonds logged their worst losing streak in 30 years on rising crude and US yields, while FIIs withdrew ₹2,697 crore this week even as DIIs pumped in nearly ₹11,000 crore. Global markets added to the gloom, with US stocks falling on a tech sell-off and escalating geopolitical risk.

AI rout erases $800 billion from five tech giants as Asia markets tumble

A global selloff in AI and semiconductor stocks has erased $800 billion from five major tech companies, as Asian markets, particularly South Korea's KOSPI, fell over 3.5% amid AI spending concerns. GIFT Nifty indicated a gap-up open for the Nifty50 index, while Brent crude prices rose slightly following the US invocation of Cold War-era-like Defence Act.

Gold futures fall to ₹1.42 lakh as analyst flags $4,140 resistance

Gold futures on MCX dropped to ₹1.42 lakh per 10 grams, declining over ₹1,000, while silver tumbled ₹4,191 per kg to ₹1.95 lakh/kg. The sell-off spans major Indian cities, with retail rates in Delhi, Mumbai, Chennai and others reflecting the futures decline. An analyst has flagged $4,140 as key resistance for the yellow metal.

Swiggy Plunges 10% on Weak Q2 as Infosys Climbs 3% Pre-Earnings

Swiggy shares fell 10% on weaker-than-expected Q2 results, prompting price cuts by analysts. Infosys shares rose 3% ahead of its Q2 earnings. Multiple companies are set to report Q2 results, with potential market-wide impact.

Dr Reddy's Q2 profit falls 36% to ₹913 crore on Lenalidomide slump

Dr Reddy's reported a 36% year-on-year decline in Q2 FY27 net profit to ₹913 crore, with revenue marginally down, as the Lenalidomide opportunity waned.

Infosys Q2 profit rises 6% to ₹7,823 crore, cuts FY27 revenue guidance to 1-2%

Infosys reported a 6% year-on-year rise in Q2 profit to ₹7,823 crore but cut its FY27 revenue growth guidance to 1-2%. The EBIT margin guidance remains at 20-22%. Share prices declined 8% following the guidance cut.

Haryana CM Saini Calls Off Power Strike After Privatisation Pledge

Haryana Chief Minister Nayab Saini announced the power employees' strike is being called off after assuring there will be no privatisation of any kind. The strike had left thousands in Gurugram without power and water and halted operations at around 1,800 factories, with businesses fearing crores in losses. The government had earlier threatened to invoke Section 108 of the Electricity Act against striking workers.

RBI Governor Malhotra: Tata Sons must list if it stays upper-layer NBFC

RBI Governor Sanjay Malhotra has reiterated that upper-layer NBFCs must list on stock exchanges, directly addressing Tata Sons' status. The remarks intensify scrutiny on Tata Sons, which has so far avoided listing despite its size. The central bank is signaling that the listing requirement is non-negotiable for entities remaining in the upper layer.

SK Hynix scraps Solidigm US IPO, shares slide on market volatility

SK Hynix has suspended its review of a US IPO for subsidiary Solidigm, citing market volatility, and the decision sent the chipmaker's shares lower. The move marks a reversal from earlier plans to list the NAND flash unit, with the company now shelving the offering indefinitely. Investors are weighing the implications for SK Hynix's capital-raising strategy and its ability to fund future memory investments.