Persistent Systems shares fell 5% despite 7.8% sequential constant-currency revenue growth in Q2FY27, as margin contraction and a sharp decline in profit weighed on sentiment. Brokerages remained divided on the stock amid valuation concerns and acquisition-related costs.
Analysts say attention is shifting to Q2 results, inflation data, and monsoon progress
Among other metals, spot silver rose 0.7% to $57.81 per ounce, platinum gained 1.1% to $1,642.75 and palladium climbed 1.5% to $1,143.46
On Friday morning, benchmark indices Sensex and Nifty made a remarkable recovery after a short dip into negative territory. The IT sector continued its upward trend for the fourth consecutive session, with significant contributions from industry leaders such as Tech Mahindra and Infosys, which surged, boosting the sectoral index. While a few companies faced declines, the general market outlook remained optimistic, following a notable rise earlier in the week.
Sebi has revised the Closing Auction Session (CAS) framework after receiving more than 20,000 comments from stakeholders. The updated rules introduce a 10-minute closing auction, restore the VWAP method for F&O expiry settlement prices and clarify order transfers. Most changes will take effect on December 7, 2026.
Representatives from Ladakh condemned a recent statement by China claiming the region as part of its territory. They emphasized that Ladakh has never been part of China in recorded history. During a press conference, concerns were raised about the necessity of Indian governmental response to the Chinese assertion. The people of Ladakh expressed their support for the Indian armed forces during conflicts with China.
At 10.03 am on Friday, December Brent oil futures were at $105.38, down by 0.51%, and November crude oil futures on WTI were at $97.33, down by 0.65%
Global hedge funds suffered steep losses as investors unwound artificial intelligence-related trades amid inflation concerns and expectations of higher interest rates. Asia-focused stock pickers were hit hardest, losing 6.8% in early October, while global fundamental long-short funds fell 2.9% through October 15, according to Goldman Sachs data cited by Reuters.
Ladakh representatives expressed dissatisfaction with the Ministry of Home Affairs’ draft proposal after a meeting in Leh, citing a wide gap between the two sides’ positions on constitutional safeguards. They are seeking legislative, executive and financial powers, with the next meeting scheduled for October 22 in New Delhi.
