Jio Platforms made a blockbuster debut on Indian exchanges, defying market weakness and breaking the jinx that has plagued India’s mega-IPOs. The stock surged 27% on its first day, with a 69% delivery ratio—the highest among all Indian IPOs raising over $1 billion—indicating strong investor conviction rather than quick flips. About 194 million shares were traded, with most marked for delivery, signaling sticky demand.
Foreign funds bought a net $1.1 billion in Indian shares on October 27, the largest single-day inflow since June 2025, potentially boosting sentiment. Meanwhile, parent Reliance Industries saw a sharp selloff, suggesting some investors prefer direct ownership of the newly listed unit. Globally, the Federal Reserve held rates steady, with Chair Kevin Warsh hinting at a December hike.
Alphabet’s shares fell after weak Q3 sales, while Samsung’s semiconductor profits surged 15-fold but missed estimates. Indian IT stocks dipped as the global AI trade rebounded, with the Nifty IT Index down 2%. Infosys cut its full-year revenue growth guidance, adding caution.
Traders showed mixed rollover trends: Nifty rollover dropped to 72.7%, while Bank Nifty rose to 84.1%. Sector shifts favored chemicals, real estate, and infrastructure. Paints sector struggles amid high inflation and rising raw material costs, with weak monsoon threatening rural demand.
Source: Bloomberg Markets · Summarized by HeadlinesBriefing