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BusinessOnly 12% of NSE 500 stocks trade above their 20-day moving averages, and 16% are above their 50-day averages, similar to conditions near the March correction's end. However, medium- and long-term breadth is less depressed, indicating any rebound may be a short-covering rally within a broader correction, not a lasting market bottom.
ET Markets·
BusinessShipping Corporation of India shares rose over 4% on NSE, opening at ₹272 and reaching an intraday high of ₹287.50 on October 5. The company targets a profit after tax of ₹2,000 crore this fiscal year and plans to expand its fleet by adding 30 vessels and 51 container vessels. The Sensex gained over 400 points, with Nifty trading above 22,500.
Mint Markets·
PoliticsAbhijeet Dipke, founder of CJP, alleged that the BJP's recent electoral victories in states where it previously struggled were connected to the Election Commission's functioning under Chief Election Commissioner Gyanesh Kumar. This claim comes amid controversy surrounding the SIR exercise, raising questions about the impartiality of the election process.
Zee News Hindi·
WorldHamam al-Hammami, co-pilot of Flydubai Flight FZ1073, planned a terrorist attack by attempting to crash the aircraft. He tried to incapacitate the captain mid-flight but was restrained by Israeli passengers, preventing disaster. Investigations revealed his prior radicalization and extremist links. Authorities continue probing his background and possible external influences.
Economic Times·
BusinessThe Reserve Bank of India's Monetary Policy Committee will meet on Monday to decide on a key interest rate increase, likely by 25 basis points to 5.50%. Rising inflation, driven by high crude oil prices and poor agricultural output, has prompted many economists to support this rate hike. The decision will be announced on October 7.
Economic Times·
WorldWest Bengal Lok Bhavan will organize its first state-level essay competition for school, college, and university students. Topics include 'Calcutta Massacre, 1946 – Causes and Consequences' for Classes X to XII and 'Direct Action Day by All India Muslim League – A Fatal Assault on Civilisational Bharat' for higher education students. Prizes range from ₹25,000 to ₹1 lakh, awarded separately for English and Bengali essays.
HT Education·
ET Markets·
Only 12% of NSE 500 stocks trade above their 20-day moving averages, and 16% are above their 50-day averages, similar to conditions near the March correction's end. However, medium- and long-term breadth is less depressed, indicating any rebound may be a short-covering rally within a broader correction, not a lasting market bottom.
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