Financial Summary: Saturday, October 31, 2026

Tankers Keep Hormuz Crude Flowing Despite Sharp Rise in Iranian Attacks

Tanker operators continue to transit the Strait of Hormuz despite escalating Iranian attacks, highlighting the resilience of the shipping lane. Freight rates for Russian oil remain at record highs due to tanker shortages and Black Sea disruptions, straining global tanker capacity.

SEBI's Pandey Advances Five-Pillar Plan With FII Compliance Paper

SEBI Chairman Tuhin Kanta Pandey is launching a five-pillar reform agenda, including a consultation paper on foreign institutional investor compliance aimed at aligning Indian norms with global standards. The document seeks to reduce compliance burdens and improve operational efficiency.

Gold falls across Indian cities as 22-carat drops ₹310 per gram

Gold prices fell across major Indian cities on October 31, with 22-carat gold dropping ₹310 per gram; 24-carat gold also declined in Delhi, Mumbai, Kolkata, Chennai, Bengaluru, Hyderabad and Pune.

S Naren warns investors against 'anti-asset allocation' at ET Wealth Expo

At the ET Wealth Expo, S Naren warned against misallocating assets, particularly in gold and silver, emphasizing the need for smarter, diversified investment strategies. He noted that only six 1990s Sensex companies remain, urging caution in individual stocks.

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

Reliance Industries reported a record Q2 profit of ₹29,550 crore, up 34% year-on-year, driven by strong O2C and Jio performance, as Retail profit fell 24% while FMCG revenue surged 60% to ₹8,266 crore.

S&P Cuts Meta Outlook to Negative as AI Spending Mounts

S&P revised Meta Platforms' outlook to negative, citing heavy AI spending that may strain finances and drive up leverage. A negative outlook does not imply an imminent downgrade.

CDSL Q2 profit rises 24% to ₹174 crore as demat accounts swell

CDSL reported a 24% year-on-year increase in Q2 net profit to ₹174 crore, with revenue up 24%, driven by growth in demat accounts.

World Bank reports India extreme poverty at 2.6% as top 10% earn 13x bottom

India's extreme poverty rate fell to 2.6% in 2023 from 57.7% in 2011, according to World Bank data, while the top 10% earn 13 times more than the bottom 10%.

Centre scraps petrol export duty, raises diesel and ATF levies

The Centre has scrapped the export duty on petrol while raising levies on diesel and aviation turbine fuel, altering the export duty structure for refined petroleum products. Adjustments are aimed at securing domestic energy supplies and influencing refiners' export decisions.

Binance Loses $6.3 Billion as FBI, Secret Service Join North Korea Probe

Binance is grappling with a record $6.3 billion crypto theft, with the FBI and Secret Service joining the investigation. The incident highlights security risks in crypto markets, despite Binance’s pledge to cover losses.

Binance loses $6.3 billion in record hack as exchanges demand defenses

Binance has suffered a record $6.3 billion crypto hack, highlighting vulnerabilities as exchanges integrate into mainstream finance. In response, Coinbase and Kraken are bolstering defenses and advocating for better information-sharing, with analysts and industry executives calling for immediate action to address security issues.

Zhao demands Musk respect after Binance hack exposes security gaps

Binance, the world's largest cryptocurrency exchange, faced intense scrutiny following a $6.3 billion hack, prompting its co-founder to publicly request respect from Elon Musk after the latter mocked the incident on social media. Binance also unveiled a 'know your agent' framework to enhance accountability of AI in finance.