On Monday, heavy selling pressure was witnessed in domestic markets. The Sensex fell 1,048 points to close at 80,238. The Nifty declined 312 points and settled at 24,865. Investor concerns over rising tensions in West Asia affected sentiment. Midcap and smallcap indices also ended lower in line with benchmarks.

Most sectoral indices traded in negative territory. Auto, consumer durables, oil and gas, and PSU banks recorded notable losses. Only metal and pharma stocks showed marginal gains. Analysts stated that Nifty support is seen at 24,600, while resistance stands at 25,000.

Global markets showed mixed trends. Oil prices surged after reports that Iran closed the Strait of Hormuz. Asian indices declined, while US markets ended mostly higher. FIIs sold equities worth Rs 3,296 crore, whereas DIIs bought shares worth Rs 8,594 crore.

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Shah credited strong domestic consumption, a vibrant services sector, and expanding manufacturing for the country’s progress. He noted that even with a per capita income of just $2,940, India contributes nearly 10% to global growth and 18% on a purchasing power parity basis. “India is the engine of the global growth train,” he said, highlighting the nation’s growing influence.

India’s equity markets have grown 13.7% annually since 2020, outpacing most emerging markets. Shah also praised the government’s fiscal discipline. He pointed out that India reduced its debt-to-GDP ratio even after the pandemic — a rare feat among major economies.

He added that India’s open economy and easy access for global investors strengthen its global standing. With tech giants like Meta, Google, and Amazon operating freely, India is emerging as an innovation-driven leader powering the next phase of world growth.

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The company’s annualised premium equivalent (APE) fell 2 per cent to Rs 2,450 crore from Rs 2,500 crore. Despite this, gross premium income grew 19 per cent to Rs 13,320 crore, driven by steady retail business growth. Total premium income rose 10 per cent to Rs 12,297 crore during the quarter, while the Value of New Business (VNB) increased slightly to Rs 592 crore. The VNB margin improved to 24.4 per cent, reflecting better profitability.

In product mix, linked savings formed 48 per cent of APE, while non-linked savings and protection contributed 22 and 19 per cent respectively. Retail protection APE rose 2.4 per cent, and annuity APE increased 11.8 per cent. Agency and direct channels both reported 23 per cent growth, while bancassurance APE dropped 21 per cent.

Operational efficiency also improved, with the cost-to-total premium ratio for savings declining to 17.7 per cent. The company’s solvency ratio stood at 213.2 per cent, and AUM reached Rs 3.21 lakh crore. Following the results, ICICI Prudential shares rose 3 per cent to Rs 610.65 on the BSE.

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The stock opened at ₹1,710.10 on the National Stock Exchange, far above its issue price of ₹1,140. It later touched ₹1,749 before settling at ₹1,695 by noon. Investors showed strong confidence in LG’s solid brand image and wide distribution network.

Brokerages expressed optimism about LG Electronics India. Prabhudas Lilladher and Motilal Oswal both gave a “Buy” rating, setting targets of ₹1,780 and ₹1,800. They highlighted LG’s leadership in key categories, focus on localisation, and premium product strategy as key growth drivers.

India’s home appliances and consumer electronics market is projected to grow 14% annually from 2024 to 2029. LG Electronics India, already a leader in major product segments, is positioned to capture this growth. The company’s quarterly profit stood at 688.9 billion won ($482.6 million), an 8.4% drop from last year.

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Top performers included HCL Tech, Tech Mahindra, Tata Steel, Infosys, Bharat Electronics, Bajaj Finserv, Ultratech Cement, ICICI Bank, Kotak Mahindra Bank, and Larsen & Toubro, with gains up to 1.3 percent. Stocks such as Eicher Motors, Maruti Suzuki, Axis Bank, Sun Pharma, SBI, Bajaj Finance, and Bharti Airtel saw early losses.

Broader markets also rose, with Nifty MidCap up 0.37 percent and Nifty SmallCap 0.38 percent. The Nifty Metal index led sectoral gains with a 1 percent increase, while the Nifty Pharma index fell 0.37 percent.

Experts said IT largecaps remain overvalued due to structural challenges, while PSU stocks corrected valuation anomalies. Growth stocks in digital and renewable energy sectors continue to attract investment. Analysts anticipate a mild rally with Muhurat trading approaching.

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The decline followed US President Donald Trump’s earlier comments about imposing restrictive tariffs on China, raising concerns about a renewed trade war. Although Trump softened his tone, investors remained cautious, leading to selling pressure.

Among major laggards were Tata Motors, Infosys, Hindustan Unilever, and Power Grid. Adani Ports, Bajaj Finance, Bajaj Finserv, and Axis Bank posted gains, limiting the overall downside. IT and FMCG stocks faced sectoral pressure, while Nifty Financial Services ended higher by 0.35 per cent.

In the broader market, the Nifty MidCap 100 index rose 0.11 per cent, while the Nifty SmallCap 100 index fell 0.17 per cent. Analysts noted that markets may remain volatile as global trade tensions and geopolitical issues continue to influence investor sentiment. A slight recovery in the INR and easing inflation expectations provided minor support, but overall caution kept markets slightly negative.

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The Sensex rose over 100 points in early trade and was trading at 81,843, up 52 points or 0.06 per cent. The Nifty gained 34 points or 0.14 per cent, reaching 25,112 after an intra-day high of 25,140. Top Sensex gainers included Power Grid, Bajaj Finance, HCL Tech, Bharti Airtel, ICICI Bank, Ultratech Cement, NTPC, Hindustan Unilever, Bajaj Finserv, and BEL.

Major losers included Trent, Axis Bank, Tata Motors, TCS, SBI, Kotak Bank, Tech Mahindra, HDFC Bank, and Infosys, slipping up to 2.7 per cent. In the broader market, the Nifty MidCap index gained 0.08 per cent, while the Nifty SmallCap index rose 0.41 per cent, indicating strong interest in smaller companies.

Among sectoral indices, Nifty Metal and Nifty IT were top performers, each gaining 0.4 per cent. Nifty PSU Bank fell 0.3 per cent due to profit booking. Analysts said positive sentiment remains, and short-covering could trigger further gains if market news turns favourable.

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Leading the charge is Tata Capital, launching a massive Rs 15,512 crore IPO. With a price band of Rs 310–326 per share, it becomes the largest NBFC IPO in India. Tata Capital plans to raise Rs 6,846 crore via fresh issue, while Tata Sons and IFC will offload Rs 8,666 crore through an offer for sale.

Next up is LG Electronics India, opening its Rs 11,607 crore IPO from October 7–9. This is a complete OFS by its Korean parent. Rubicon Research follows on October 9, aiming to raise Rs 1,377.50 crore. Other IPOs include Canara Robeco AMC, Canara HSBC Life Insurance, Anantam Highways Trust’s InvIT, and Mittal Sections in the SME segment.

This biggest IPO week ever also sees closures of ongoing issues like WeWork India’s Rs 3,000 crore IPO and several SME offerings.

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At the opening bell, the Sensex rose 67 points to 81,274.79. Nifty advanced 22 points to 24,916.55. Bajaj Finance, HDFC Bank, Axis Bank, TCS, Infosys, and HCL Tech gained nearly 1 per cent.

Analysts said positive momentum came from RBI keeping the repo rate at 5.5 per cent. Inflation forecasts were lowered, while GDP growth outlook improved. Festive demand and capital market reforms also boosted confidence.

Market experts advised caution amid volatility. A buy-on-dips strategy was suggested, with partial profits booked on rallies. Corporate earnings, FOMC minutes, and US trade developments are expected to influence activity.

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According to Dr. VK Vijayakumar, Chief Investment Strategist at Geojit Investments, the market had drifted lower over the past six trading days, pushing Nifty below its support level of 24,800. “The market is technically weak but has reached oversold levels, making a short-term rebound likely. Sustained gains will depend on positive developments, particularly regarding the India-US trade deal,” he said.

In early trading, Bharat Electronics Limited (BEL) led the gainers with a 2.41% rise. Eternal climbed 1.87%, Tata Steel added 1.16%, Titan advanced 1.13%, and Mahindra & Mahindra rose 0.98%. On the other hand, Hindustan Unilever dropped 2.27%, followed by Axis Bank (-1.58%), ITC (-0.77%), Asian Paints (-0.33%), and Bharti Airtel (-0.29%).

Among sectoral indices, Nifty Realty led with a 1.03% gain, followed by Nifty PSU Bank (0.96%), Nifty Metal (0.94%), and Nifty Oil & Gas (0.84%). Other sectors such as healthcare, IT, auto, media, pharma, and consumer durables also showed positive momentum. Only Nifty FMCG (-0.74%) and Nifty Private Bank (-0.09%) faced selling pressure.

Vijayakumar added that the RBI’s upcoming monetary policy on October 1 is unlikely to surprise. “Rates are expected to be held steady, with a dovish tone to support growth,” he said. He also recommended gradually accumulating largecaps in automobiles, banking, telecom, capital goods, and cement, while weakness in pharmaceuticals could offer buying opportunities.

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