Financial Summary: Friday, October 30, 2026

Tankers Keep Hormuz Crude Flowing Despite Sharp Rise in Iranian Attacks

Tanker operators are continuing to transit the Strait of Hormuz despite sharp increases in Iranian attacks, highlighting the resilience of the shipping lane. Freight rates for Russian oil to India remain at record highs due to tanker shortages and elevated Black Sea risks, tightening global tanker capacity.

Sensex Climbs 308 Points as IT Stocks Drive Second Straight Gain

The Nifty 50 gained 0.51% to close at 23,053, recovering the 23,000 level, while the Sensex rose 0.42% to 74,459.53. IT, healthcare and pharma sectors led gains.

Sensex Surges 905 Points to 74,151 as Broader Market Rebounds

The Sensex closed at 74,151, up 905 points, as the broader market rebounded. Analysts are weighing whether the rally can extend into Friday, with GIFT Nifty signaling a muted start and Asian shares trading lower. Reliance and Jio earnings are in focus amid global headwinds.

Nasdaq futures plunge 500 points as tech earnings miss, AI stocks slide

Nasdaq futures declined 500 points following weak tech earnings and a selloff in AI-related stocks, with sentiment dampened across Asian markets.

Reliance Posts Record Q2 Profit of ₹29,550 Crore, Up 34%

Reliance Industries reported a record consolidated profit of ₹29,550 crore for Q2, up 34% year-on-year, driven by strong O2C and Jio performance. However, Reliance Retail profit fell 24% even as its FMCG arm RCPL saw revenue jump 60% to ₹8,266 crore on Campa growth. The company is also diversifying crude supplies and redirecting exports to navigate Middle East disruptions.

Trent Profit Climbs 25% as Shares Jump 7% on Q2 Results

Trent reported a 25% rise in net profit for Q2 despite cost pressures and stiff competition, sending shares up as much as 7%. Brokerages including Nuvama and Elara Capital remain bullish, though price targets and outlooks are divided across the Street. The stock is in sharp focus as investors weigh strong operational performance against a competitive retail backdrop.

Asian Paints Q2 profit rises 7% as brokerages cut targets

Asian Paints reported a 7% rise in Q2 profit, but multiple brokerages including Jefferies and Goldman Sachs trimmed their target prices citing margin concerns and competitive pressure. Shares traded steady as the market digested the mixed results and analyst downgrades.

India's fiscal deficit hits 42.1% of FY27 target in first half

India's fiscal deficit reached ₹7.14 trillion, or 42.1% of the FY27 target, in April-September, with the gap rising roughly 25% year-on-year. Capital expenditure grew 12% over the same period, signaling continued public investment even as the deficit widens. The figures put the government's fiscal consolidation path under close watch midway through the fiscal year.

PNB Suspends 12 Employees, Settles Rs 43 Lakh in Greater Noida Fraud

Punjab National Bank has suspended 12 employees and filed a CBI case over an alleged Rs 10 crore fraud at its Greater Noida branch. The bank has also settled Rs 43 lakh in customer claims tied to the fraud, with the CBI investigation now underway.

Bank credit climbs 17.94% to ₹232.54 lakh crore, outpacing deposits

RBI data shows bank credit grew 17.94% year-on-year to ₹232.54 lakh crore, continuing to outpace deposit growth. The widening credit-deposit gap signals sustained loan demand even as deposit mobilization lags, a trend that could tighten liquidity conditions for lenders.

Binance Security Breach Triggers $2.5 Billion Asset Freeze

Binance has frozen roughly $2.5 billion in assets following a suspected security breach, with Circle and Tether also freezing impacted funds. The incident has rattled crypto markets, pushing Bitcoin below $79,000 as reports of the total freeze range up to $3 billion. The exchange is facing renewed scrutiny over its security practices.

Intel shares plunge 20% on weak Q4 guidance, PC slowdown warning

Intel shares cratered roughly 20-23% after the chipmaker issued fourth-quarter revenue guidance that badly missed estimates and warned of a PC market slowdown. The selloff marks one of Intel's sharpest single-day declines as investors digest the magnitude of the guidance miss and what it signals about demand. Analysts are now reassessing the turnaround timeline and near-term earnings trajectory.

Binance Freezes Assets After $6.3 Billion Security Breach

Binance is investigating a security attack that compromised assets worth $6.3 billion, prompting the exchange to freeze affected holdings. Circle and Tether have frozen over $2.38 billion in stablecoin currency as part of the response. Bitcoin has fallen below $79,000 amid the unfolding crisis.