Top Stories: A late sell-off on D-Street, HUL’s steady Q2 show, US sanctions on Russian oil giants & more

Indian markets ended Thursday on a flat note as early gains faded amid weakness in oil-linked and heavyweight stocks, even as IT counters offered some support. The Sensex and Nifty erased most of their intraday advances, mirroring cautious global sentiment ahead of key macro triggers.

The day also saw a flurry of developments across policy, corporate and political fronts. Industry experts downplayed the impact of fresh US sanctions on Russian oil majors, saying Indian refiners are unlikely to face major supply disruptions. Trade analysts warned that India may have limited negotiating room in its ongoing trade talks with the United States.

On the corporate side, Hindustan Unilever’s September-quarter results drew attention, with CEO Priya Nair stressing an “obsession” with volume-led growth.

Tata Motors remained in focus after reports of a potential £540 million hit from the JLR cyberattack.The Defence Acquisition Council cleared procurements worth ₹79,000 crore, Vijay Sales reported its best festive season in a decade, and Tejashwi Yadav emerged as the Mahagathbandhan’s CM face in Bihar.

Sensex, Nifty erase early gains as Reliance Industries, crude-sensitive stocks slip



The stock market gave up early gains to end largely flat on Wednesday as weakness in index heavyweights offset advances in information technology (IT) stocks. The NSE Nifty 50 index ended 23 points higher at 25,891 after slipping more than 200 points from the day’s high, while the S&P BSE Sensex rose 130 points to close at 84,556. The Nifty Bank index added 71 points to finish at 58,078, while the broader Nifty Midcap index fell 38 points to 59,371.

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US sanctions on Russian oil giants unlikely to derail Indian refiners, say industry experts



MK Surana, Former CMD of HPCL, said the US sanctions on Russian oil giants Rosneft and Lukoil are unlikely to completely remove Russian oil from the global market, stating that “China still continues to buy, and it will be difficult to implement a sanction where 100% barrels go off the market.”

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India has limited room in trade talks with US, warn experts



Amitendu Palit, Senior Research Fellow at the Institute of South Asian Studies, National University of Singapore, believes India may not have much space to shape its trade negotiations with the United States. “India has not got a chance to set its agenda in these negotiations. It is reacting to an agenda set by the US,” he said.

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HUL Q2 Results: MD & CEO Priya Nair says will be 'obsessed' with volume-led revenue growth



India's largest FMCG company, Hindustan Unilever Ltd. (HUL) reported its September quarter results on Thursday, October 23, a few days after sharing a business update for the quarter. Underlying volume growth for the quarter was flat compared to a CNBC-TV18 poll of 0% to 1% growth. The company reported a net profit of ₹2,694 crore, which is higher than the CNBC-TV18 poll of ₹2,480 crore. The net profit for the quarter also was aided by a one-time gain of ₹273 crore.

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Tata Motors shares in focus after strong festive sales but JLR cyberattack hit also looms



Shares of Tata Motors, the parent company of Jaguar Land Rover (JLR), are expected to open lower on Thursday, October 23, after reports suggested that JLR could take a £540 million (₹6,300 crore) hit from the recent cyberattack.

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DAC approves ₹79,000 crore procurement plan for Army, Navy and Air Force

Union Defence Minister Rajnath Singh. A former Home Minister and former BJP president, his came did the rounds during the vice presidential elections in 2022.

The Defence Acquisition Council (DAC), under the chairmanship of Union Defence Minister Rajnath Singh, on Thursday (October 23) approved various proposals of the services amounting to a total of about ₹79,000 crore during a meeting held in South Block, New Delhi.

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Mehli Mistry sets condition on backing Venu Srinivasan’s Tata Trusts reappointment: Sources



Mehli Mistry, Director of the Meher Pallonji Group, has set an unprecedented condition while approving the reappointment of Venu Srinivasan as a lifetime trustee on the Sir Dorabji Tata Trust Board, sources close to the Tata Group told CNBC-TV18.

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Vijay Sales says it saw best festive season in a decade



Vijay Sales has recorded its best festive season sales in a decade, with growth touching around 20%, double its usual 8–10% pace. Director Nilesh Gupta credited the upbeat consumer sentiment and GST cuts for the strong performance, saying the company saw a very high turnout from the start of Navratri.

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After X's legal challenge to the government's blocking powers, centre limits takedown authority to senior officers



The government has introduced new safeguards governing how online content can be blocked or taken down, tightening procedures under Section 79 of the Information Technology Act.

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Bihar elections: Mahagathbandhan names Tejashwi Yadav as CM face and Mukesh Sahani as Dy CM candidate



Rashtriya Janata Dal leader and former Bihar deputy chief minister Tejashwi Yadav is announced as the chief ministerial face for the Mahagathbandhan for the upcoming state elections on Thursday (October 23).

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