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Back home, the Sensex and Nifty surged to near four-month highs, fuelled by gains in banking, real estate, and FMCG sectors. In commodities, Motilal Oswal’s bullish outlook on gold and silver points to further upside amid a historic rally. Corporate earnings dominated headlines, too.
Nestlé India posted strong volume growth in the second quarter, while Eternal’s stock took a hit despite Blinkit's growth due to cautious commentary on food delivery.
Meanwhile, Zepto secured a massive $450M funding round, and Aditya Birla is bringing Parisian luxury icon Galeries Lafayette to Mumbai. Hitachi Energy announced a ₹2,000 crore expansion in Tamil Nadu, and Bihar's election season heated up with JDU’s second list of candidates.
Stay with us for all the latest updates and expert takes—there’s plenty to unpack!
Oil rises as Trump says India will stop buying Russian supply
Oil rose from a five-month low after US President Donald Trump said Indian Prime Minister Narendra Modi had vowed to halt purchases of Russian barrels, a move that could squeeze global supply. Brent traded above $62 a barrel after sliding 2.2% over the previous two sessions, while West Texas Intermediate was near $59. Trump’s claim didn’t give an exact timeline for India’s curtailment, and there hasn’t yet been an official confirmation from New Delhi.
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Sensex, Nifty end at near 4-month high driven by banks, realty and FMCG stocks
The stock market rallied strongly on Thursday, with benchmark indices closing at nearly four-month highs, led by broad-based gains across sectors. A surge in banking, real estate and FMCG stocks helped power the advance, as investors looked ahead to key corporate earnings and festive demand tailwinds.
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Motilal Oswal expects gold to reach $4,500 an ounce, silver $75 an ounce over the medium to long term
Motilal Oswal Financial Services expects gold prices to climb to $4,250–$4,500 an ounce on COMEX and ₹1.28 lakh –₹1.35 lakh per 10 grams domestically, while silver could rise to $75 an ounce on COMEX and ₹2.30 lakh per 10 grams in India over the medium to long term, if current momentum continues. The forecasts follow gold crossing $4,000 an ounce and silver gaining more than 60% year-to-date, marking one of the steepest rallies in recent decades.
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Nestle India Q2 Results: Volume growth in high-single digits; Domestic sales highest in any quarter
Maggi instant noodles maker Nestlé India Ltd. announced its earnings for the second quarter of this fiscal year (Q2FY26) on Thursday, October 16. The company reported domestic volume growth in high single-digits for the quarter, compared to CNBC-TV18's poll of 1-2%, sources privy to the development told CNBC-TV18.
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Eternal Q2 Results: Stock falls 4% on food delivery warning, slower margin expansion in Blinkit
Shares of Eternal Ltd. parent company of food delivery aggregator Zomato and quick commerce player Blinkit, are witnessing wild swings after the results were announced on Thursday, October 16. The stock first saw a sharp spike after its Quick Commerce business reported sharp growth in its revenue. However, the stock immediately cooled off after the management said that the Food Delivery business growth will be "slow" in the near term.
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Zepto raises close to $450 million at $7 billion valuation; CalPERS joins as a new investor
Mumbai-based quick commerce startup Zepto has raised close to $450 million in a mix of primary and secondary transactions (majority being primary), valuing the company at $7 billion. The round marks the entry of California Public Employees’ Retirement System (CalPERS), one of the world’s largest pension funds, alongside existing investors who have doubled down on their investments.
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Aditya Birla brings Paris' Galeries Lafayette to India, first store to open in Mumbai in November
French luxury department store Galeries Lafayette is set to open its first Indian flagship early next month at Mumbai’s historic Kala Ghoda district, in partnership with the Aditya Birla Fashion and Retail (ABFRL). Speaking at the launch event, Kumar Mangalam Birla, Chairman of the Aditya Birla Group, said the partnership marks “a coming-of-age moment for Indian luxury retail at a time when India’s luxury segment is at the threshold of transformation with the market expected to grow fourfold in less than a decade — from $20 billion to nearly $90 billion by 2030.
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Hitachi Energy’s ₹2,000 crore push to power growth and jobs in Tamil Nadu
Hitachi Energy has announced a ₹2,000 crore investment to expand its Global Technology and Innovation Centre in Tamil Nadu. The Phase 2 expansion is expected to generate more than 2,000 new jobs over the next two to three years in Chennai, reinforcing the company’s long-term commitment to India’s energy transition and technology ecosystem.
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Bihar Elections 2025: Nitish Kumar's JDU releases 2nd list, check here
Bihar Chief Minister Nitish Kumar's party Janata Dal (United) on Thursday, Oct 16, released the second list of its candidates for the upcoming Bihar polls 2025. The party named 44 candidates in the list. The NDA ally had released its first list on Wednesday, October 15. Bihar is slated to hold assembly elections in two phases, with voting scheduled for November 6 and 11, and counting and results for November 14.
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