Eternal, the parent entity of Zomato, has moved ahead of Tata Consultancy Services (TCS) in the Nifty 50’s latest weight adjustment, with its weight rising to around 2.29% versus roughly 2.08% for TCS. The change comes even as TCS’s market capitalisation of around ₹7.5 lakh crore remains far above Eternal’s roughly ₹3.1 lakh crore, as Tata Sons’ close to 72% stake reduces TCS’s free float used in index calculations. Analysts also pointed to diverging market narratives, with TCS’s valuation reflecting expectations of muted growth while Eternal trades at more than 650 times trailing earnings on optimism around Blinkit’s expansion.

Pranati Deva is a senior sub editor at LiveMint with more than a decade of experience in high-pressure newsroom roles. Her reporting focuses on stock markets, listed companies, currencies and commodities, with a strength in fast-paced, real-time market coverage. She has worked across several Indian news organisations, including MintGenie, CNBC-TV18, Business Standard and EconomicTimes.com.

Intercontinental Exchange (ICE), the owner of the New York Stock Exchange, has launched gold, silver, platinum and palladium futures contracts in London to build a local derivatives market in the world’s largest physical gold hub. London handles more than $180 billion a day in over-the-counter gold trading. Gold held in London vaults totaled 9,632 metric tons at the end of August, valued at about $1.4 trillion, according to the London Bullion Market Association. The move follows the London Metal Exchange’s closure of its gold futures contract in 2022 due to low trading activity, leaving New York as the dominant center for exchange-traded gold derivatives.

India’s government said it will halve the sugar stock cap for dealers to 1,000 quintals and cut the permitted holding period to 15 days from Oct. 15 to Nov. 30 to curb hoarding during the festival season. Earlier, it approved duty-free imports of 1 million tonnes of raw sugar on Aug. 21 to bolster domestic supply. Retail sugar prices are still up about 20% year-on-year, though they have fallen more than 11% from the August peak.

International oil prices rose by about $1 on the day as U.S.-Iran peace talks stalled and U.S. fuel markets tightened. Brent crude gained around 14% over the month, marking its biggest monthly rise since July. In equities, Wall Street finished mixed, with the Dow down 0.86%, the S&P 500 down 0.25% and the Nasdaq up 0.24%. MSCI’s global stock index edged lower, slipping 0.16%.

India’s domestic funds are using growing bargaining power to press for lower IPO valuations, with the median price-to-book ratio for offerings raising at least 10 billion rupees falling to 7.4 times in 2026 from 10.2 times a year earlier. Loss-making issuers have also become rarer in that group, and domestic institutions’ share of IPO proceeds has risen to 33% from 24% in 2021. The shift has forced marquee listings, including National Stock Exchange of India’s planned IPO, to cut deal size by about 15%, according to market data.

India’s hike in gold and silver import duties to 15%, along with a 3% goods and services tax for retail buyers, is prompting more consumers to buy bullion and jewellery in cash without receipts to cut costs by as much as 6%. Traders and jewellers can avoid taxes and share part of the savings with customers, helping expand the grey market. Gold prices have eased from an earlier record but remain almost 28% higher than a year ago. Gold, India’s second-largest import after oil, continues to strain the trade deficit.

Steel Authority of India Ltd’s board has approved raising up to ₹10,000 crore via an unsecured rupee term loan or line of credit from State Bank of India. Separately, Augment India Holdings LLC is reportedly exploring a block deal to sell 85 lakh shares, or a 7.25% stake, in Clean Max Enviro Energy Solutions. The transaction is estimated at ₹1,062.8 crore with a floor price of ₹1,250 per share. Reports say the offer could be priced at a discount of up to 10% to the prevailing market price.

Ghana, the world’s second-largest cocoa producer, raised its 2026-27 farmgate price by 2.4% to 42,400 cedis a ton to ensure farmers earn at least 70% of the free-on-board export value. Neighboring Ivory Coast kept its price unchanged earlier this month at $2,084 a ton. Cocoa futures are trading at around $5,600 per ton, nearly double the level when Ivory Coast set its price, underscoring continued supply tightness in West Africa.