Sensex and Nifty snapped their eight-week losing streak on Friday, surging over 1% as IT stocks rallied and crude prices eased. The rebound added more than Rs 4 lakh crore to BSE-listed companies’ market capitalisation, while positive market breadth favoured bulls.
Ace investors Ashish Kacholia and Mukul Agrawal-backed Sanshi Fund, along with Kotak Mahindra Life Insurance, acquired a combined 3.19% stake worth Rs 120 crore in Fusion CX ahead of its Rs 702 crore IPO opening on October 14.
Mutual funds increased their stakes in approximately 44 of these companies compared with the June 2026 quarter. Interestingly, most of these stocks delivered negative returns over the past three months despite higher mutual fund holdings.
Foreign investors sold Indian equities worth Rs 45,125 crore in October's first six sessions, nearly matching September's outflows. Elevated US bond yields and crude oil prices continue to pressure markets, while inflation data and geopolitical developments could influence the selling trend.
Edelweiss Mutual Fund MD and CEO Radhika Gupta says investors should approach Specialised Investment Funds (SIFs) with clear portfolio goals rather than chase new products or returns. Speaking at the ET Alpha Wealth Summit 2.0, she highlighted their tax efficiency, the importance of understanding derivatives-based strategies, and the need to assess risks, costs and realistic return expectations before investing.
NTPC Limited invited Expressions of Interest from commercial and industrial entities willing to invest 26 per cent equity in co-generation projects, according to the state-run power company.
Nine penny stocks with market capitalisations below Rs 1,000 crore and share prices under Rs 20 gained up to 316% in six months, supported by strong price momentum and minimum trading volumes of 5 lakh shares.
Nifty snapped its eight-week losing streak as bullish technical signals emerged near key support levels. Analysts see Nifty Private Bank outperforming in the short term, while Radico Khaitan, Karur Vysya Bank, ICICI General Insurance and Nykaa remain on traders' radar.
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