Stock Market Today: All You Need To Know Going Into Trade On Oct 16
INDIA MARKET | Fri, 16 Oct 2026, 6:00AM IST
Indian equity benchmark indices, the Nifty 50 and Sensex, ended higher on Thursday.
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Netflix Shakes Up Top Ranks, Replacing Its Chief Content Officer
GLOBAL NEWS | Fri, 16 Oct 2026, 3:27AM IST
Peter Rice, a former executive at Disney and Fox, will take over from Bela Bajaria.
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Fairfax gets 15 years to reduce stake in IDBI Bank to 26%
INDIA BUSINESS | Fri, 16 Oct 2026, 2:09AM IST
Fairfax Financial Holdings will acquire a 60.72% stake in IDBI Bank and reduce its ownership over 15 years. The Reserve Bank of India has allowed Fairfax to decrease its stake to 26% eventually. Fairfax has two years to decide the future of CSB Bank, including merger or sale options. The group aims to transform IDBI Bank into a comprehensive financial services entity.
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Money is going into data centres and AI in US... now India will be on everyones list: Prem Watsa
INDIA BUSINESS | Fri, 16 Oct 2026, 2:02AM IST
Canadian billionaire Prem Watsa's bet on IDBI Bank is backed by faith in the Indian economy, he told Mohit Bhalla and Sruthijith KK in a phone interview. The government Wednesday approved the divestment of a majority stake in IDBI Bank to Watsa's Fairfax Financial Holdings. Watsa, 76, who was born near Hyderabad and studied at IIT-Madras, migrated to Canada in the 1970s. Started by him as an insurance company, Fairfax Financial now has assets of over $100 billion. Edited excerpts from the interview are in the copy.
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Maharashtra FDA chief Tukaram Mundhe bans sale of loose spices
INDIA BUSINESS | Fri, 16 Oct 2026, 1:52AM IST
Maharashtra Food and Drug Administration has implemented a ban on loose spices to combat adulteration. The ban comes after discovering harmful industrial dyes in local spice samples. Action will be taken against manufacturers who violate the compliance order issued by the FDA. The FDA will also regulate the storage of spices to ensure public health isn't jeopardized.
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US stocks: Dow, S&P 500 end higher as traders shift from AI to healthcare
INDIA MARKET | Fri, 16 Oct 2026, 1:40AM IST
After a rocky start, the S&P 500 experienced a resurgence, largely spurred by investments in the healthcare and consumer segments. Investors seemed to distance themselves from technology stocks, anxious about mounting debts in the AI sector. Eli Lilly and UnitedHealth rose thanks to favorable evaluations from Deutsche Bank, whereas Broadcom and Nvidia struggled.
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AI stock selloff eases as investors buy on dips amid falling bond yields
INDIA MARKET | Fri, 16 Oct 2026, 1:29AM IST
A selloff in risky AI-linked stocks eased as buyers returned to technology amid falling bond yields. CoreWeave experienced significant stock declines and bond yield concerns raised worries about rising financing costs. Major AI laboratories like Anthropic and OpenAI reflected slowing growth, contributing to overall investor nervousness. Stock movements varied among leading companies as interest rates influenced market dynamics.
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Demand for bank loans rises amid hardening yields
INDIA BUSINESS | Fri, 16 Oct 2026, 1:27AM IST
Canara Bank and Indian Bank reported a total corporate loan pipeline of 1.10 lakh crore between them. The banks are experiencing steady credit demand from corporate clients amid rising bond yields. Canara Bank expects to maintain around 19% credit growth, while Indian Bank targets a 14-15% growth rate. Both banks highlighted the importance of improving deposit growth to narrow the credit-deposit gap.
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India must leverage AI, cultural soft power to shape global media industry: Rajan Navani
INDIA BUSINESS | Fri, 16 Oct 2026, 1:25AM IST
India has the potential to leverage its cultural heritage and creative capabilities for economic growth in various sectors. Rajan Navani emphasized the collaboration required among industry and government to achieve this vision. The focus is on using artificial intelligence responsibly to improve creativity in the media landscape. Educational institutions play a role in fostering skills in emerging technologies and engaging audiences.
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SC ruling deals a heavy blow to Yes Bank's risk equity capital
INDIA BUSINESS | Fri, 16 Oct 2026, 1:18AM IST
Yes Bank is facing a significant reduction in its Common Equity Tier-1 capital buffer following a recent Supreme Court ruling. The court reversed the earlier write-down of over $800 million related to additional Tier-1 bonds. Analysts suggest that this verdict could lower Yes Bank's CET1 ratio to approximately 11-11.5%. The bank is currently analyzing the judgment to assess the final impacts on its financial standing.
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Indias creator economy evolves into a media powerhouse, says YouTube India MD Gunjan Soni
INDIA BUSINESS | Fri, 16 Oct 2026, 1:16AM IST
Gunjan Soni announced that India's creator economy is transforming as creators develop professional media businesses. YouTube's ecosystem made significant contributions to the GDP, supporting nearly a million jobs in 2025. The export of Indian culture is growing, with creatives reaching international audiences through various formats. AI is positively impacting productivity for creative workers, and investments in technology are urged. Collaboration is essential to advance the opportunities within India's storytelling potential.
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INDIA BUSINESS | Fri, 16 Oct 2026, 1:08AM IST
Tata Mutual Fund, HDFC Mutual Fund and ICICI Prudential Asset Management Company have restricted fresh investments in their gold fund-of-funds (FoFs) ahead of the festive season. Existing investors can continue their registered SIP instalments and redeem their investments.
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HDFC, ICICI Prudential, Tata Mutual Fund halt fresh investments in gold ETFs ahead of festive season
INDIA BUSINESS | Fri, 16 Oct 2026, 1:08AM IST
Tata Mutual Fund, HDFC Mutual Fund and ICICI Prudential Asset Management Company have restricted fresh investments in their gold fund-of-funds (FoFs) ahead of the festive season. Existing investors can continue their registered SIP instalments and redeem their investments.
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Homegrown firms enter budget smartphone market as memory chip prices rise
INDIA BUSINESS | Fri, 16 Oct 2026, 1:03AM IST
India's budget smartphone market is opening up for local brands as global companies reduce their presence. Rising memory chip prices have significantly impacted entry-level smartphone production costs. Homegrown companies Ai+ and Lava are gaining traction in this competitive segment. Micromax plans to re-enter the smartphone market by evaluating various strategies. Brands aim to leverage the government's financial incentives under the Mobile Phone Manufacturing Scheme to succeed.
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INDIA BUSINESS | Fri, 16 Oct 2026, 12:55AM IST
The Department of Telecommunications mandates telecom operators to show KYC-registered names with incoming calls from November 1. This initiative aims to reduce cyber fraud, phishing, and unwanted commercial calls. The amendment to Caller Line Identification will officially include Caller Name Identification for subscriber convenience. Trials and consultations informed the decision, involving both operators and civil society groups.
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Robust pipeline: Hotel chains look beyond metros for growth
INDIA BUSINESS | Fri, 16 Oct 2026, 12:45AM IST
India's hospitality sector is set to add 161,074 branded hotel rooms over the next five years. Approximately 117,000 of these rooms are currently in active development across various locations. Notably, four in five new rooms will be situated outside major hospitality markets, including tier-2 and tier-3 sites. In FY26, the industry reported steady occupancy rates and increases in average daily rates.
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Luxury car buyers lose most GST 2.0 benefits as Mercedes, BMW and Audi raise prices
INDIA BUSINESS | Fri, 16 Oct 2026, 12:38AM IST
Luxury carmakers such as Mercedes-Benz, BMW, and Audi have increased vehicle prices after a GST cut. The price hikes are a response to rising input costs and a weakened rupee against major currencies. Despite this, luxury car sales in India are projected to grow by about 11% by 2026. This growth trails the broader Indian passenger vehicle market, which is estimated to advance 13-14% this year.
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Auto sales gain festive momentum in Sept
INDIA NEWS | Fri, 16 Oct 2026, 12:21AM IST
New Delhi: Car sales rose in strong double-digits year-on-year in September on a low base, as manufacturers ramped up dispatches to the dealers to build stocks anticipating robust customer demand during the festivals of Navratri and Dussehra this month.The Society of Indian Automobile Manufacturers (SIAM) data showed as many as 454,574 cars, sedans and utility vehicles were sold last month, a 22% jump over the year-ago period. Two-wheelers grew 13.5% to 2.46 million units. Three-wheeler dispatches also went up 16% to 98,162 units in September.Also read: Auto industry faces cost squeeze as steel, freight prices surge, more hikes likelyAuto sales had remained low in the first three weeks of September 2025 as buyers waited for cars to become cheaper after the GST cut on 22 September, 2025.134975091Overall, in the first half of the ongoing financial year, passenger vehicle sales went up by 28.3% to 2.64 million units. Commercial vehicle sales grew 23.8% to 564,255 units in the period under review. Two-wheeler and three-wheeler sales rose by 17.6% (to 12.09 million units) and by 26.3% (to 501,879 units), respectively."The Indian automotive industry delivered a strong performance in the first half of FY27, following a robust second quarter and a strong September 2026. This stellar performance across all segments of the automobile industry has been supported by improved affordability following GST 2.0, resilient rural and urban demand, healthy freight movement, infrastructure-led economic activity, and a gradual replacement cycle across vehicle segments," said Shenu Agarwal, president, SIAM.Utility vehicles continued to show strong traction with sales growing 31.4% between April-September FY27. Sales of hatchbacks and sedans went up by 23.1% in the same period. Utility vehicles accounted for 68% of all cars sold in the local market.Also read: Stellantis to invest 4,000 crore in India; launch 12 Jeep, Citron vehicles by 2030New vehicle technologies, alternate powertrains like CNG, EV, Hybrids help build demand. Agarwal said that the electric vehicle ecosystem also continues to mature with multiple offerings, improving charging infrastructure and supportive policy measures. "At the same time, alternative fuel technologies are witnessing increasing acceptance and are expected to play an important role in India's sustainable mobility transition."In the two-wheeler segment, growth was driven by demand for scooters whose sales jumped 29.4% to 4.87 million units in the first half of the fiscal. Motorcycle sales grew 10.4%, on a larger base, to 6.93 million units in the same period.Automakers are optimistic about the demand momentum sustaining in the ongoing festive period, though challenges persist on account of geopolitical uncertainties. Demand fundamentals remain supportive, aided by the festive season, new product launches, last-mile mobility requirements, infrastructure spending, and fleet replacement.
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Auto companies ride on a low base to deliver robust 22% sales in September
INDIA BUSINESS | Fri, 16 Oct 2026, 12:21AM IST
Car sales in India saw a 22% increase in September due to dealers stocking up for festivals and strong demand. Two-wheelers and three-wheelers also experienced growth of 13.5% and 16% respectively during the same month. The overall sales for passenger vehicles increased by 28.3% in the first half of FY27. Automakers remain hopeful about continuous demand amidst ongoing geopolitical challenges.
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AI agents accessed Indian firms' records without authorisation: Cert-In
INDIA MARKET | Fri, 16 Oct 2026, 12:11AM IST
Indian organisations failed to detect unauthorised access by AI models and agents, while AI companies voluntarily disclosed the incidents to Cert-In, the cyber agency said
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OBT Sports & Entertainment partners with World Chess Champion D Gukesh
INDIA BUSINESS | Fri, 16 Oct 2026, 12:09AM IST
OBT Sports & Entertainment has formed a partnership with World Chess Champion D Gukesh to manage his brand. This exclusive deal will focus on brand endorsements, commercial strategy, and content collaborations. Gukesh aims to explore meaningful opportunities beyond chess while maintaining his individual values. The partnership seeks to elevate his profile as a recognized young sporting personality in global markets.
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Green Card lottery entries to reopen Nov 1
INDIA NEWS | Thu, 15 Oct 2026, 11:55PM IST
A US federal judge has ordered the Trump administration to reopen registration for the 2027 Diversity Visa lottery, also known as the Green Card lottery, with the entry window set to open by November 1, 2026.The ruling restores a route to US permanent residency for eligible applicants after the government failed to start registration on time, according to Courthouse News Service report.Also Read: US judge blocks Trump policy of fining migrants up to $1.8 millionUS District Judge Jinsook Ohta issued the order on October 14, directing Secretary of State Marco Rubio and the US State Department to announce the registration dates and open the entry process for 30 days.The State Department must also accept eligible entries, notify selected applicants and process their cases under the programme's rules, the report said. A subsequent extension moved the registration deadline to November 1 and the deadline to notify selected applicants to December 3.Also Read: US raises select immigration fees for FY 2027, new charges from October 16Earlier in November 2025, the State Department had announced that it was making changes to the entry process for the 2027 lottery and would announce the registration dates later. The registration delay prompted California-based immigration law firm Red Eagle Law to file a lawsuit against the State Department. The firm argued that the government's failure to open registration had effectively cancelled the annual programme.The Diversity Visa programme offers up to 55,000 immigrant visas each year to eligible applicants from countries with historically low rates of immigration to the US.Applicants selected through the lottery must also meet eligibility requirements and complete the visa process as the selection in itself does not guarantee a Green Card.The 2027 programme's visa year ends on September 30, 2027. This means that applicants have limited time period to complete the required steps.
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Ship Sinking, Hormuz Control, US Deaths: CENTCOM Flags 3 'False' Iran Claims
INDIA MARKET | Thu, 15 Oct 2026, 11:54PM IST
CENTCOM rejects Iran's claims on Hormuz control, ship sinking and US military casualties.
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Govt revises windfall gains tax for petrol and diesel exports
INDIA BUSINESS | Thu, 15 Oct 2026, 11:49PM IST
The central government has increased the windfall tax on petrol exports to Rs 2.5 per litre. Simultaneously, the windfall tax on diesel has been reduced to Rs 8.5 per litre. These adjustments will be effective from October 16, as announced by the central board of indirect taxes and customs.
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Prosus Ventures leads $1.5 million funding in space startup Cosmochute
INDIA BUSINESS | Thu, 15 Oct 2026, 11:48PM IST
Cosmochute is developing its LEAP lunar mobility platform to support payload transportation and deployment on the Moon, with funding aimed at accelerating development and hiring.
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Pernod Ricard India sales grow 19% in Sep quarter; IPO plan awaits approval
INDIA BUSINESS | Thu, 15 Oct 2026, 11:42PM IST
French spirits maker Pernod Ricard, which on Thursday reported a 19 per cent sales growth in India for the September quarter, said its proposed initial public offering (IPO) in the country remains under discussion and is awaiting board approval.
Pernod Ricard said double-digit sales growth in the first quarter of financial year 2027 in the India market, its second largest globally after the US, is "driven by strong demand and continuing premiumisation" as "the market continues to enjoy dynamic consumer fundamentals".
Pernod Ricard's financial year runs from July 1 to June 30.
"Growth is broad-based across the portfolio, with imported spirits in very strong double-digit growth, including Jameson, Absolut and Ballantine's, and with strong double-digit growth from Seagram's whiskies Royal Stag and Blenders Pride," said the company's earnings statement.
Pernod Ricard said preparatory steps for a potential IPO in India had resulted in a favourable pipeline-filling effect, contributing
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Anthropic's Q3 revenue jumps to $16.8 billion ahead of planned IPO
INDIA BUSINESS | Thu, 15 Oct 2026, 11:42PM IST
Anthropic's third-quarter revenue reached $16.8 billion, up nearly 12-fold from a year earlier, as the Claude maker prepares for an IPO amid slowing growth and concerns over AI valuations.
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Student Elections To Return In Maharashtra Universities? New Rules Likely By January
INDIA MARKET | Thu, 15 Oct 2026, 11:33PM IST
Maharashtra student elections likely to return after 33 years
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Would You Switch To Xbox For Minecraft? Microsoft Asks Players In New Survey
INDIA MARKET | Thu, 15 Oct 2026, 11:31PM IST
Microsoft is asking some gamers question: would you buy an Xbox if Minecraft were only available there
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UCO Bank net profit rises 27% to 786 crore in July-September quarter
INDIA BUSINESS | Thu, 15 Oct 2026, 11:31PM IST
Public sector UCO Bank on Thursday reported a 27 per cent rise in net profit to Rs 786 crore for the second quarter ended September 30.
The Kolkata-based lender earned a net profit of Rs 620 crore in the same period last fiscal year.
Total income increased to Rs 8,170 crore in the second quarter from Rs 7,421 crore a year ago, UCO Bank said in a regulatory filing.
Interest income improved to Rs 7,286 crore in the September quarter of FY27 from Rs 6,537 crore in the year-ago period.
Operating profit also increased to Rs 1,872 crore against Rs 1,613 crore in the same quarter a year ago.
On the asset quality front, the bank's gross non-performing assets (NPAs) moderated to 1.96 per cent of gross advances at the end of September 2026 compared to 2.56 per cent a year ago.
Net NPAs or bad loans came down to 0.18 per cent at the end of September 2026 compared to 0.43 per cent at the end of September 2025.
However, provisioning against bad loans rose marginally to Rs 444 crore during th
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Prithvi Shaw Reveals How Playing FIFA, GTA Helps Him Regain Confidence Amid India Snub
INDIA MARKET | Thu, 15 Oct 2026, 11:30PM IST
Prithvi Shaw reveals how FIFA and GTA help him regain confidence amid his cricketing struggles.
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Delhi Traffic Advisory For Oct 16: 21 Key Routes May Be Affected Ahead Of Protests. Check Full List
INDIA MARKET | Thu, 15 Oct 2026, 11:28PM IST
Traffic authorities said restrictions, diversions or temporary closures could be imposed at 21 key intersections, roundabouts and major road stretches throughout the day, depending on on-ground conditions.
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Bigg Boss 20 Episode 40 Review: Scout Takes Captaincy As Qazi Opens Up About Ekta Kapoor
INDIA MARKET | Thu, 15 Oct 2026, 11:27PM IST
Scout becomes the new captain of the Bigg Boss 20 house in Episode 40.
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Samsung Galaxy S27 Ultra, Pro, Plus Specifications Leak: What's Expected
INDIA MARKET | Thu, 15 Oct 2026, 11:24PM IST
Galaxy S27 series may consist of the Galaxy S27, S27+, S27 Pro and S27 Ultra.
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Why Was Kuldeep Yadav Dropped? Ashwin Questions Indias Call, Says 'Very Surprising
INDIA MARKET | Thu, 15 Oct 2026, 11:21PM IST
R Ashwin questions Kuldeep Yadav's exclusion from India's playing XI, saying the decision lacked common sense
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Shafali Verma Promises Fearless Cricket As Smriti Mandhana Begins India Captaincy Stint
INDIA MARKET | Thu, 15 Oct 2026, 11:16PM IST
Shafali Verma backs fearless cricket and smart decision-making under new captain Smriti Mandhana ahead of the Zimbabwe series
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DRI Seizes 6.28 Kg Gold Worth Rs 9.18 Crore From Dubai Baggage; 3 Arrested
INDIA MARKET | Thu, 15 Oct 2026, 11:13PM IST
A detailed search of the baggage led to the seizure of 6.28 kg of foreign-origin gold.
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IRDAI Open To Suggestions On Insurance Reforms; Says No Intention To Disrupt Agents' Livelihoods
INDIA MARKET | Thu, 15 Oct 2026, 11:11PM IST
The Insurance Brokers Association of India (IBAI) had written to Prime Minister Narendra Modi seeking intervention and requested a meeting with the regulator before the October 25 deadline for stakeholder feedback.
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Government cuts duty drawback rates on gold, silver jewellery exports
INDIA BUSINESS | Thu, 15 Oct 2026, 11:10PM IST
The government has announced a reduction in duty drawback rates for gold and silver jewellery exports. The rates for gold jewellery have decreased by 3.1% while silver jewellery rates have been cut by about 9%. Earlier in July, the government had nearly doubled these rates to enhance exporter competitiveness. The latest adjustments reflect ongoing fluctuations in global input costs and market conditions.
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INDIA MARKET | Thu, 15 Oct 2026, 11:10PM IST
Faf du Plessis questions CSA's decision to host Australia at Kingsmead after South Africa's defeat.
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IDBI Bank Deal: Fairfax Must Cut Stake To 26% In 15 Years, Says DIPAM Secretary
INDIA MARKET | Thu, 15 Oct 2026, 11:06PM IST
Investment Secretary Arunish Chawla says Fairfax must cut its IDBI Bank stake to 26% in 15 years.
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Jasprit Bumrah Set To Miss New Zealand ODIs As Selectors Eye Test Series: Report
INDIA MARKET | Thu, 15 Oct 2026, 11:04PM IST
Jasprit Bumrah Bumrah was rested for the T20I series against the West Indies after featuring in the Asian Games.
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Trade Setup For Oct 16: Nifty Resistance At 23,170 Despite Cautious Market Sentiment
INDIA MARKET | Thu, 15 Oct 2026, 11:01PM IST
The next session will therefore be crucial in determining whether the recent rally can gather further momentum or encounters renewed selling pressure near the resistance zone.
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