US markets rebounded Friday with optimism over US-China trade talks, easing banking jitters. Dow +0.52%, S&P 500 +0.53%, Nasdaq +0.52%. VIX retreated, US 10Y yields edged higher; Fed expected to cut rates in late October. US govt shutdown stretches into 4th week.
European markets closed sharply lower as Stoxx 600 -0.95% amid banking concerns.
Domestic markets:
Sensex closed at 83,952 (+0.58%) and Nifty at 25,710 (+0.49%), both hitting fresh highs ahead of Diwali.
GIFT Nifty higher (+185 pts) at 25,941, indicating a strong start.
Exports cushioned by diversification: shipments to US fell -11.9%, but exports to other regions rose +6.6%. Govt expanding focus markets from 20 to 50 countries across Africa, LatAm & Asia to reduce US dependence.
Corporate updates:
• Dixon Tech Q2 revenue +29% YoY, PAT +72% YoY at ₹670 cr.
• IndusInd Bank Q2 NII -18% YoY; net loss ₹436 cr due to higher provisions.
• Reliance Industries Q2 PAT +14.3% YoY at ₹22,092 cr; EBITDA margin up 80 bps to 17.8%.
• HDFC Bank Q2 net profit +11% YoY at ₹18,641 cr; stable asset quality, slight NIM dip to 3.27%.
Focus today: US Industrial Production.
Flows: FII +₹4.17 bn | DII +₹15.52 bn
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