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The key equity indices ended with minor gains on Thursday. The Nifty settled near the 25,000 level. Private bank, bank and financial services stocks advanced while pharma, IT and media shares declined. Trading was volatile due to weekly F&O series expiry today. As per provisional closing data, the S&P BSE Sensex added 144.31 points or 0.18% to 81,611.41. The Nifty 50 index rose 16.50 points or 0.07% to 24,998.45. In the broader market, the S&P BSE Mid-Cap index declined 0.36% and the S&P BSE Small-Cap index rose 0.43%. The market breadth was strong. On the BSE, 2,266 shares rose and 1,649 shares fell. A total of 131 shares were unchanged. The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, slipped 4.65% to 13.47. Ratan Tata, the Chairman Emeritus of Tata Sons and a recipient of India's second-highest civilian honor, the Padma Vibhushan, passed away on Wednesday at Mumbai's Breach Candy Hospital. He was 86 years old. Tata had been in critical condition and under intensive care. On Monday, he had disclosed that he was undergoing routine medical examinations due to his age and associated health conditions. IPO Update: The initial public offer (IPO) of Garuda Construction and Engineering received bids for 13,53,94,759 shares as against 1,99,04,862 shares on offer, according to stock exchange data at 15:20 IST on Thursday (10 October 2024). The issue was subscribed 6.80 times. The issue opened for bidding on Tuesday (08 October 2024) and it will close on Thursday (10 October 2024). The price band of the IPO is fixed between Rs 90 to Rs 95 per share. An investor can bid for a minimum of 157 equity shares and in multiples thereof. Buzzing Index: Nifty Private Bank index jumped 1.59% to 25,765.70. The index shed 0.02% in the past trading session. Kotak Mahindra Bank (up 4.14%), RBL Bank (up 2.99%), HDFC Bank (up 1.79%), IndusInd Bank (up 1.23%), IDFC First Bank (up 1.23%) and Axis Bank (up 1.12%) advanced. Stocks in Spotlight: JSW Steel rose 1.26% after the company informed that its consolidated crude steel production for the Q2 FY25 was at 6.77 million tonnes, which is higher by 7% as compared with 6.34 million tonnes reported in Q2 FY24. G R Infraprojects added 0.84%. The company announced the receipt of a letter of acceptance (LoA) for a project valued at Rs 903.53 crore from Maharashtra Metro Rail Corporation. G M Breweries dropped 5.58% after the company's net profit decline 3.12% to Rs 21.67 crore in Q2 FY25 as against Rs 22.37 crore posted in Q2 FY24. Revenue from operations (excluding excise duty) shed by 1.69% year on year to Rs 149 crore in the quarter ended 30 September 2024. PNC Infratech rallied 3.57% after the company announced that it has been declared as the lowest (L1) bidder for an EPC project of Rs 2,090.59 crore from City & industrial Development Corporation of Maharashtra (CIDCO) Rain Industries jumped 5.80% after the company's wholly owned subsidiary, Rain Carbon Inc announced joint development agreement (JDA) with Northern Graphite to develop and commercialize advanced battery anode material (BAM). Rashtriya Chemical & Fertilizers (RCF) rallied 7.49% after the company awarded a contract worth Rs 1,000.27 crore to L&T for setting up of 1200 MTPD complex fertilizer plant on lump-sum turnkey (LSTK) basis at RCF, ThaI. Arvind SmartSpaces advanced 2.54% after the company announced that it has registered bookings of over Rs 500 crore at Arvind Aqua City, its largest township development to date, launched towards the end of September. Bank of Maharashtra slipped 1.17%. The public sector bank said that its gross advances jumped 18.73% to Rs 2,17,426 crore as of 30 September 2024 as against Rs 1,83,122 crore as of 30 September 2023. Sequentially, the gross advances gained 14.15% in the September quarter from Rs 2,09,031 crore as of 30 June 2024. Lotus Chocolate Company was locked in lower circuit of 5% after the company's standalone net profit declined 23.64% to Rs 5.23 crore in Q2 FY25 as against Rs 6.86 crore posted in Q1 FY25. Revenue from operations declined 9.21% quarter on quarter (QoQ) to Rs 128.29 crore in the September 2024 quarter. GTPL Hathway shed 0.78%. The company's consolidated net profit declined 62.65% to Rs 12.78 crore in Q2 FY25 as compared with Rs 34.22 crore in Q2 FY24. Revenue from operations increased 9.8% to Rs 855.56 crore in Q2 FY25 as compared with Rs 779.20 crore posted in corresponding quarter last year. Puravankara declined 2.19%. The company reported 18% growth in sales to Rs 1,331 crore in Q2 FY25 from Rs 1,128 crore in Q1 FY25. Star Health & Allied Insurance Company fell 1.90%, following a targeted cyberattack that resulted in a data breach affecting over 31 million customers. According to the media reports, the hacker responsible for the breach listed the stolen data for sale on the dark web, making shocking allegations against Star Health's Chief Information Security Officer (CISO). The hacker claimed the CISO was involved in selling the data and later attempted to extort more money for backdoor access. Global Markets: European stocks declined on Thursday as investors await the latest U.S. inflation data for more signs that price pressures are easing. Most Asian shares ended higher on Thursday, buoyed by Wall Street's gains and anticipation for Beijing's additional fiscal stimulus measures. The region's markets were positively influenced by the Dow Jones Industrial Average hitting a new record closing high after the Federal Reserve's September meeting minutes indicated a preference for a 50-basis-point interest rate cut. However, the minutes also clarified that the Fed has not committed to a specific pace of rate reductions. In the U.S., the S&P 500 rose 0.7% on Wednesday, while the Dow Jones Industrial Average surged 1% to a record closing high of 42,512.0. The NASDAQ Composite gained 0.6%. Investors are now closely watching the third-quarter earnings season, with several major banks scheduled to report on Friday. Additionally, concerns about potential damage from Hurricane Milton are being monitored. The key focus has shifted to the consumer price index data due on Thursday, which will provide valuable insights into inflation trends and their implications for interest rates. Persistent inflation could limit the Fed's ability to rapidly cut rates. 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