Asian shares fell on Friday as concerns over the enormous funding needs of AI hammered tech and led to ?the biggest daily rally in Treasuries in more than three years, with investors fleeing to sovereign bonds and safe-haven currencies.
Wall Street's technology-heavy indices suffered their steepest single-day losses in months on Thursday, October 22, as disappointing earnings from Meta Platforms and Tesla, concerns over rising AI-related spending, and higher crude oil prices weighed on investor sentiment.
Here's a table showing how US stocks performed on Thursday:
Stock/Index | LTP | Change ($) | Change (%) | Day High | Day Low | 52-Week High | 52-Week Low |
|---|---|---|---|---|---|---|---|
Alphabet | 320.76 | -10.19 | -3.08% | 327.7 | 318.45 | 404.44 | 252.77 |
Apple | 348.22 | 4.23 | 1.23% | 348.36 | 342.28 | 348.36 | 243.42 |
Meta | 648.85 | -48.67 | -6.98% | 681.07 | 639.69 | 779.82 | 520.26 |
Tesla | 374.58 | -11.89 | -3.08% | 388.86 | 373.71 | 498.82 | 297.38 |
Netflix | 67.05 | 2.01 | 3.09% | 67.49 | 65.02 | 116.73 | 64.1 |
Amazon | 250.38 | -11.99 | -4.57% | 258.41 | 248 | 287.16 | 196 |
Microsoft | 521.08 | -11.87 | -2.23% | 533.6 | 520.3 | 553.72 | 349.2 |
Dow Jones | 52868 | 11.89 | 0.02% | 52927.9 | 52508.4 | 54744.3 | 45057.3 |
Nasdaq | 28958.7 | -863.83 | -2.90% | 29411.8 | 28855.1 | 31361.4 | 22841.4 |
Source: Equitymaster
At present, the BSE Sensex is trading 473 points higher, and NSE Nifty is trading 85 points higher.
Infosys, TCS and L&T are the top gainers today.
Tata Steel, Titan and Asian Paints on the other hand is among the top losers today.
The BSE 150 Midcap index is trading 0.4% lower and the BSE 250 SmallCap index is trading 0.5% lower.
Sectoral indices are trading mixed today with stocks in TELECOM sector and FMCG sector witnesses selling pressure. Meanwhile, stocks in banking sector and IT sector witnessed buying.
The rupee is trading at Rs 94.82 against the US dollar.
HPCL Q2 Profit Falls
HPCL's consolidated revenue from sale of products rose 26% year-on-year (YoY) to Rs 1,380,000 million (m) in Q2FY27, compared with Rs 1,090,000 m in Q2FY26.
The company reported a consolidated net profit of Rs 36,252.2 m in Q2FY27, down 6% from Rs 38,590 m in the corresponding quarter last year. However, it returned to profitability after reporting a loss of Rs 122,646.7 m in Q1FY27, supported by improved marketing margins following a cumulative Rs 7 per litre hike in retail fuel prices in May 2026.
For the first half of FY27, HPCL reported a loss of Rs 86,394.5 m, compared with a profit of Rs 79,700 m in the corresponding period of FY26. The West Asia war pushed crude oil prices above US$100 per barrel, squeezing marketing margins.
The company stated that its profitability was impacted by suppressed marketing margins on certain petroleum products during April-September 2026.
Meanwhile, HPCL's average gross refining margin (GRM) improved to US$27.89 per barrel in the first half of FY27, compared with US$5.95 per barrel in the corresponding period last year.
Financial Highlights of Hindustan Petroleum Corporation
Rs m | FY24 | FY25 | FY26 |
|---|---|---|---|
Net Sales | 40,57,439 | 40,14,887 | 40,46,767 |
Operating Profit | 2,68,447 | 1,86,391 | 3,28,888 |
Net Profit Margin (%) | 3.9 | 1.7 | 4.5 |
Profit After Tax | 1,60,146 | 67,357 | 1,80,469 |
Source: Equitymaster
Sun Pharma's Bond Fundraising Falls Short
According to an ET report, Sun Pharma raised Rs 78,160 million (m) through five-year and seven-year bond tranches, falling short of its Rs 100,000 m target. Rising market yields prompted investors to seek higher returns than the drugmaker was willing to offer.
The company priced the five-year bonds at a coupon rate of 8.05% and the seven-year bonds at 8.20%. The fundraising came amid a recent rise in government and corporate bond yields, making investors more cautious about locking in returns at prevailing rates.
Despite the shortfall, the company managed to raise around Rs 80,000 m at the pre-fixed pricing. According to a source quoted in the report, this was a strong outcome given that market yields had risen by 15 basis points.
The two tranches also attracted Rs 21,000 m in anchor investments from general and life insurance companies, mutual funds and pension funds. Sun Pharma had planned to raise up to Rs 30,000 m through the first tranche, which carries a put option after 17 months, and Rs 70,000 m through the second tranche.
Colgate Palmolive Q2 Results
Colgate-Palmolive (India), a major FMCG and oral care products maker, reported a 12.2% year-on-year (YoY) rise in revenue from operations to Rs 17,057 million (m) in Q2FY27, compared with Rs 15,200 m in the corresponding quarter last year.
The company's net profit increased 4.2% YoY to Rs 3,420 m in the September 2026 quarter, from Rs 3,280 m a year earlier. Excluding one-off and exceptional items, net profit after tax grew 5.5% YoY.
Earnings before interest, tax, depreciation and amortisation (EBITDA) rose 1.9% YoY to Rs 4,740 m in Q2FY27, compared with Rs 4,650 m in the year-ago period. However, the EBITDA margin contracted to 28% from 31% in the corresponding quarter of the previous fiscal year.
Alongside its quarterly results, the company's board approved an interim dividend of Rs 24 per share for FY27.
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