Indian equity markets opened higher on Tuesday, with Sensex gaining 588 points and Nifty rising 178 points. IT stocks led the rally as global markets remained under pressure.
RBI Governor Sanjay Malhotra met Finance Minister Nirmala Sitharaman ahead of the October MPC meeting, amid growing concerns over inflation, rising crude oil prices and geopolitical tensions. The RBI’s Monetary Policy Committee is scheduled to meet from October 5-7, 2026. With the repo rate currently at 5.25 per cent, markets are closely watching whether the central bank maintains its prolonged pause or considers a rate hike as inflationary pressures increase.
India’s WPI inflation rose to 9.92 per cent in August 2026 from 9.78 per cent in July, with fuel and power inflation surging to 22.93 per cent. WPI food inflation also increased to 7.05 per cent from 6.65 per cent.
EET Retail, the retail arm of Essar Energy Transition Fuels, has agreed to acquire 100% of SGN Retail, adding 118 UK forecourt locations to its existing 117 sites. The deal will create a 235-site nationwide network with annual fuel throughput exceeding 650 million litres and support EET Retail’s goal of reaching 800 sites by 2031.
Tamil Nadu government will launch a unified online registration system for architects, engineers, town planners and other building professionals through the Single Window Portal. The reform aims to simplify planning approvals, eliminate duplicate registrations and enable professionals to operate across the state.
Singer Abhijeet Sawant has released ‘Gana Dhaav Re’ for Ganesh Chaturthi, featuring his daughters Aahana and Smeera on background vocals. He called the collaboration a divine coincidence and a special musical tribute to Bappa.
India is unlikely to face a macroeconomic crisis from the current crude oil price surge, with Brent crude at $107-$108 per barrel, low inflation and record forex reserves of $785.7 billion. However, prolonged high oil prices or disruptions to West Asia shipping could raise inflation, widen the current account deficit and increase fiscal pressure.
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