Market Morning Notes For 6th October 2025

Market Commentary

Global markets – US indices closed mixed on Friday due to geopolitical tension, domestic political gridlock, and significant corporate developments. Dow Jones closed up by 0.5 pct. While Nasdaq closed red by 0.3 pct.

Commodities – Gold prices rose and currently stood at USD 3,922 as US shutdown continues. On the other hand, oil prices stood at USD 66.43/bbl.

Asian markets – Asian markets trading mixed in the early morning trade. Hang Seng trading down by 0.4 pct. While Nikkei jumped higher by 4.5 pct after after election win by fiscal dove Takaichi.

Indian Indices – India’s equity benchmarks are likely to open muted as GIFT Nifty indicates. Benchmark Indices extended gains on Friday led by banking stocks after the RBI announced a raft of lending reforms and as metals advanced on dollar weakness.

  Stocks to watch

Positive Read through

• Apollo Hospitals / Max Health – CGHS revises rates with graded structure for cities.
• Hind Copper – Executes 20-year lease deed for Kendadih copper mine in Jamshedpur.
• HDFC Bank – Gross advances grew 9.9 pct YoY, total deposits rose 12 pct YoY.
• Marico – Consolidated YoY sales growth to touch thirties, India business volume growth in high single-digit.
• Angel One – Q2 gross client acquisition up 12.2 pct, client base rose 4.9 pct QoQ.
• Fortis – SEBI permits IHH to proceed with 26 pct open offer, CGHS revises rates.
• Kalyan – Consolidated sales growth at ~30 pct, same-store sales growth at 16 pct YoY.
• Nykaa – GMV business growth estimated to be near thirties vs mid-twenties in last few quarters.
• L&T Fin – Disbursements jumped 25 pct YoY, retail loan book growth at 17.4 pct YoY.
• Bank of Baroda – Loans grew by 12 pct YoY/6 pct QoQ, deposits increased 9.3 pct YoY/4.5 pct QoQ.
• Bajaj Hsg Fin – AUM growth in-line with guidance at 23.6 pct, disbursements expanded 32.3 pct YoY.
• Kotak Mah Bank – Net advances rose 15.8 pct, total deposits grew 14.6 pct YoY.
• Bajaj Fin – AUM growth in-line with guidance, at 23.6 pct, customer base up 20 pct YoY.
• IEX – Q2 electricity traded volume up 16.1 pct, RTM growth at 39.1 pct YoY.

Negative Read through

• Ujjivan SFB – Loan book growth lowest in last 10 quarters, up 14 pct YoY.
• ESAF SFB – Deposits rose 0.9 pct QoQ, loan growth at 4.3 pct YoY.
• Equitas SFB – Deposits growth fell 0.6 pct QoQ, gross loans growth below guidance.
• AWL Agri – Q2 food & FMCG volumes (excluding G2G) up 1 pct, edible oils business volumes up 4 pct YoY.
• Tata Steel – Faces Rs. 24.11 bn demand from Odisha authorities for Sukinda mine shortfall.
• Hind Zinc – Q2 saleable metal production fell 6 pct YoY, silver production fell 22 pct YoY.
• DMart – Standalone sales growth at 15.4 pct, 8 stores added in Q2.
• AB Lifestyle – Flipkart likely to sell up to 6 pct stake via block deals.
• Vedanta – Aluminium production up 1 pct YoY, oil & gas average production fell 15 pct YoY.
• IndusInd Bank – Loan book declined for third consecutive quarter, deposits fell 5.5 pct YoY.
• Paradip Ph – Search operations being carried out by Customs Departmen for alleged violations.
• Lupin – US FDA classifies Pithampur Unit-II as official action indicated.

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