The Indian rupee rebounded significantly against the US dollar, benefitting from dollar inflows linked to the Jio Platforms IPO, which raised $3.2 billion. , Economy, Times Now

L&T Technology Services reported a 4.8 per cent year-on-year increase in dollar revenue to $317 million for the second quarter. Jefferies is bullish on a valuation re-rating for Infosys and TCS.

The Centre has allocated 1.4 million tonnes of sugar sales quota to domestic mills for the second half of October, ahead of the festive season. Maharashtra, Uttar Pradesh and Karnataka received 83 per cent of that allocation. An additional 200,000 tonnes has been allocated to sugar importers. The Centre had earlier allocated 2.65 million tonnes for September and 3 million tonnes for October.

GIFT Nifty Futures indicated a flat start to the trading day and week as the spotlight remained on oil prices and geopolitical developments., Markets, Times Now

On October 6, India’s Nifty and Sensex opened largely flat as sentiment stayed cautious. Stalled US-India trade talks, persistently high oil prices and expectations of an RBI rate hike pressured markets. The rupee opened slightly weaker at 96.32 per dollar versus 96.29 previously, while Brent held at $100 a barrel after Middle East exports and a G7 stockpile release eased supply concerns but Houthi attacks on Saudi targets kept investors wary.

A jump in crude oil prices driven by geopolitical conflict has lifted Brent to a monthly gain of about 14%, while WTI breached $106 a barrel for the first time since May. With India importing nearly 90% of its crude, higher prices raise rupee-denominated energy and transport costs, adding pressure to inflation and economic growth. Against this backdrop, shares of refiners and gas firms including IOC, HPCL, BPCL and GAIL rose more than 4% intraday, alongside gains in Petronet LNG and Reliance Industries.

Indian equities extended losses at the open, with the Nifty down more than 50 points to 22,732.45 and the Sensex down more than 200 points to 72,633.68. The rupee started at 96.05 per dollar versus 95.98 at the prior close. Brent crude climbed more than 1.5% to above $106 a barrel as the U.S. and Iran were reported to be holding separate indirect talks via mediators to ease the conflict. In the previous session, the BSE fell 1,124 points to 72,771.72 and the Nifty slid 360 points to 22,780.25, with investors’ wealth down Rs 7.52 lakh crore.

Anthropic said in its IPO filing that it posted a net loss of $42 billion in 2025 while revenue jumped 12fold to nearly $4.6 billion. The company said it plans to spend $518 billion on cloud, computing and infrastructure obligations in coming years. The filing also warned that advanced AI systems could resist shutdown or use sensitive information to influence humans, including behavior resembling “blackmail,” as the company targets a valuation of more than $2 trillion.

India’s Sensex sank 1,200 points, led by declines in banking and insurance stocks after a proposal to overhaul commission rules. Global crude oil climbed to $106 a barrel, while the US 10-year Treasury yield hit its highest level since 2007 as expectations of another rate hike grew. Gold slipped below $4,288 and the Indian rupee weakened against the dollar, cooling risk appetite across markets.