Top stories: Nifty snaps 4-day rally, UK PM Starmer's India visit, Navi Mumbai airport takes off & more

From boardroom rifts to record-breaking highs — Wednesday was a packed news day. The spotlight stayed on Tata Trusts, where tensions within the governing board prompted intervention from the highest levels of government. As per sources close to Tata Group, Home Minister Amit Shah and Finance Minister Nirmala Sitharaman held talks with key Tata Trusts and Tata Sons leaders amid reports of an internal power tussle.

On Dalal Street, the Nifty snapped its four-day winning streak as investors booked profits at elevated levels, while gold prices soared past ₹1.22 lakh per 10 grams on the MCX — a historic high driven by global uncertainty and expectations of US rate cuts.
Tata Capital’s IPO — India’s largest issue of 2025 — was fully subscribed on the final day, underscoring strong investor appetite despite choppy markets. Meanwhile, UK Prime Minister Keir Starmer ruled out a visa deal with India ahead of his meeting with PM Modi in Mumbai.

Prime Minister Modi also inaugurated the Navi Mumbai International Airport, one of the few globally to feature AI-powered terminals and sustainable architecture. And in enforcement news, the ED launched raids across 17 sites in a luxury car smuggling probe spanning Nepal and Bhutan.
Here are the top 10 stories that defined the day.

Tata Trusts governance rift prompts government talks; experts urge resolution and internal reform



Top governance and legal experts say the current tension within Tata Trusts must be resolved quickly and internally to prevent any long-term impact on Tata Sons or its listed companies. According to sources, Home Minister Amit Shah and Finance Minister Nirmala Sitharaman met with Tata Trusts Chairman Noel Tata, Tata Sons Chairman N. Chandrasekaran, and trustees Darius Khambatta and Venu Srinivasan amid reports of growing differences within the Trusts. Four trustees are said to have challenged Noel Tata’s leadership, operating as a “super board” within the Trusts.

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Nifty snaps 4-day rally amid profit booking, ends above key 25,000 level


The equity benchmarks retreated on Wednesday, ending a four-day winning streak as investors booked profits at elevated levels, with broader markets underperforming large-cap indices. Nifty Bank was down 221 points at 56,018, and the Nifty Midcap 100 Index slid 423 points to 57,867. Market breadth leaned negative, with the NSE advance-decline ratio at 2:3.

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Gold prices break all records, cross ₹1.22 lakh per 10 gram on MCX



Domestic gold prices reached an unprecedented level on Wednesday, October 8, crossing the ₹1.22 lakh mark per 10 grams on the Multi-Commodity Exchange (MCX). The rally was driven by a mix of global uncertainty, a weakening dollar and growing market expectations of imminent interest rate cuts in the United States.

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Tata Capital IPO: India's biggest issue of 2025 is fully subscribed



Tata Capital Ltd.'s initial public offering (IPO) has been fully subscribed on the third and final day of its subscription on Wednesday, October 8. Of the 33.34 crore shares on offer, investors have bid for 50.09 crore shares, so far. The portion reserved for retail investors is subscribed 96% so far, with bids being placed for 15.89 crore shares, compared to the 16.61 crore shares allocated to them. Retail investors could bid for a lot of 46 shares with a minimum investment of ₹14,996 and then bid in multiples thereafter.

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UK PM Keir Starmer rules out visa deal with India ahead of meeting with PM Modi



The United Kingdom Prime Minister Keir Starmer said the UK will not pursue a visa deal with India ahead of his meeting with Prime Minister Narendra Modi on October 9. Starmer arrived in Mumbai on Wednesday (October 8) along with a business delegation. "That isn't part of the plans," he told reporters en route to India when asked about visas, adding the visit was "to take advantage of the free trade agreement that we've already struck".

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AI Terminals, Lotus Design and more: 10 things that make Navi Mumbai International Airport special



Prime Minister Narendra Modi inaugurated the Navi Mumbai International Airport (NMIA) on Wednesday, October 8, making Mumbai one of the few cities in the world with multiple airports, alongside London, New York, and Tokyo. The state-of-the-art airport is set to begin commercial operations in December and promises to be a game-changer for India’s aviation landscape.

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Who is Sergio Gor? The youngest-ever US Ambassador to India



Sergio Gor is the youngest-ever Ambassador of the United States to India. Gor, 38, was among 107 nominees confirmed by the Senate in a single en bloc vote on Tuesday (October 7). In the final tally, 51 senators voted in favour and 47 against Gor. The confirmations came despite the current US government shutdown.

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ED raids 17 sites in luxury car smuggling via Bhutan, Nepal; actors Prithviraj, Dulquer among those searched



The Enforcement Directorate (ED) has launched a major investigation into the alleged smuggling and illegal registration of luxury cars that were being transported from India to Nepal and Bhutan. Acting on intelligence inputs, the agency conducted a large-scale search operation on October 8 in connection with the racket involving cross-border smuggling and foreign exchange violations through the Indo-Bhutan and Indo-Nepal routes.

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