October 9, 2025 | IPO Boom, IT Strength, and Gold at Record Highs

Good Morning & Market Recap

Indian markets snapped a four-day winning streak on Wednesday, with the Nifty closing at 25,046 and Sensex at 81,774, dragged down by realty, pharma, and PSU banking stocks despite strong IT sector performance. GIFT Nifty futures signal a positive opening at 25,150, up 35 points, as geopolitical tensions ease with Israel-Hamas agreeing to the first phase of President Trump’s Gaza ceasefire plan.

Global risk appetite has returned with US equities hitting fresh records, while Asian markets trade mixed with Japan’s Nikkei surging 1.34% on SoftBank’s $5.4 billion acquisition of ABB’s robotics division.

What’s different today?
FPIs turned net buyers after weeks of selling, pumping ₹1,441 crore into Indian equities on October 7, while DIIs added ₹453 crore. October’s IPO bonanza continues with LG Electronics India seeing 3.32x subscription and October expected to clock over $5 billion in listings—making it the busiest IPO month on record.

Key watch factors:
TCS and Tata Elxsi Q2 results today, Fed minutes indicating more 2025 rate cuts, and gold breaching the $4,000/oz milestone amid safe-haven demand.

Tech Pulse

SoftBank’s AI robotics bet
Japanese conglomerate SoftBank Group announced a $5.4 billion acquisition of Swiss engineering firm ABB’s robotics division, sending SoftBank shares soaring 13% in early Tokyo trading and pushing the Nikkei 225 up 1.34%. The move signals SoftBank’s aggressive expansion into AI-powered industrial automation, directly competing with Tesla’s humanoid robot ambitions.

US tech rally continues
The Nasdaq Composite surged 1.12% to close at 23,043—its 32nd record high of 2025—as technology shares led Wall Street’s advance despite Oracle’s recent disappointment. The S&P 500 also notched its 33rd closing record, gaining 0.58% to 6,754, with investors brushing aside AI valuation concerns as Fed minutes pointed to additional rate cuts through 2025.

India’s IT sector shines
Nifty IT index rose 1.51% on October 8, outperforming all sectors with Infosys, TCS, Coforge, and Tech Mahindra leading gains as global outsourcing demand remains resilient. Minister Piyush Goyal stated at Global Fintech Fest 2025 that India’s tech sector has achieved “unprecedented progress,” with fintech now reaching almost every Indian household.

Actionable trigger:
Watch TCS Q2 earnings announcement today—strong results could fuel further IT sector momentum, with support at Nifty IT 44,200 and resistance at 45,000.

Funding Radar

India’s IPO gold rush
October 2025 is poised to become India’s busiest IPO month ever, with expected proceeds crossing $5 billion as the Tata Capital ($1.7B) and LG Electronics India listings take center stage. LG Electronics India IPO has been subscribed 3.32 times as of October 8, with grey market premium at ₹156 (13.68% over issue price), signaling strong investor appetite.

Fintech unicorn birth
Dhan achieved unicorn status with a $120 million Series C round led by Sequoia Capital India, Tiger Global, and Norwest Venture Partners on October 6, joining India’s growing cohort of billion-dollar fintech startups. JSW One Platforms raised ₹575 crore from SBI to expand B2B e-commerce operations, while AI-focused martech startup Affluense AI secured ₹3 crore in pre-seed funding from Zeropearl VC and CRED’s Kunal Shah.

Q3 funding slowdown
Despite record fund launches of $9 billion in 2025, Indian startups raised only $2.1 billion across 240 deals in Q3 2025—down 38% YoY—with late-stage funding plummeting 54% as investor caution dominates. AI-led startups remain investor favorites, with 60% of institutional investors allocating 20% of portfolios to this segment.

Sectoral ripple:
The fintech and AI sectors continue attracting disproportionate funding attention, while traditional late-stage rounds face severe headwinds, creating a bifurcated funding environment favoring early-stage innovation.

Market Movers & Watchlist

Top gainers (October 8):
ITI Ltd surged ₹32.50 to ₹356.65, followed by Aster DM Health (+₹37 to ₹698.55), Sonata Software (+₹18.10 to ₹370.70), and Titan Company (+₹147 to ₹3,566) as IT and select consumer stocks bucked the broader market decline.

Major losers:
Orient Refractories (–₹29.50 to ₹458.30), Kaynes Technology (–₹404 to ₹7,189), Anant Raj (–₹35.65 to ₹699.95), with Tata Motors, UltraTech Cement, and ONGC among Nifty’s top drags.

Sectoral divergence:
Nifty Realty (–1.83%), Media (–1.71%), Auto (–1.53%), Pharma (–0.77%).
Nifty IT (+1.51%), Consumer Durables (+0.7%).
Bank Nifty closed at 56,018, down 221 points (–0.39%), breaking below the 56,100 support level.

Actionable watch levels:

• Nifty: Support 25,000 | Resistance 25,150
• Bank Nifty: Support 55,800 | Resistance 56,300
• Sensex: Support 81,500 | Resistance 82,200

Quick Bytes (Global / Off-Radar)

Gold breached the psychological $4,000/oz mark for the first time on October 8, with spot gold prices rallying on safe-haven demand. Indian gold prices surged to ₹123,293 per 10 grams (24K) on October 9.

The 10-year US Treasury yield climbed to 4.13% while the 2-year reached 3.58%, reflecting market digestion of Fed minutes indicating additional 2025 rate cuts amid an ongoing US government shutdown.

Mainland China’s CSI 300 rose 0.53% and Hong Kong’s Hang Seng gained 0.12% as the World Bank raised China’s 2025 growth forecast to 4.8%.

“Risk-on outside, risk-off inside?”
The combination of Nasdaq/S&P at all-time highs and gold at record levels suggests investors are paying for both growth and insurance. In India, this often translates into barbell positioning: quality large-caps plus selective hedges (USD assets, gold, G-Sec funds).

Deep Dive – Hot Topic of the Day

India’s IPO Renaissance: Record October Signals Market Maturity

India’s equity capital markets are witnessing an unprecedented surge, with October 2025 expected to generate over $5 billion in IPO proceeds—the highest monthly total on record. Year-to-date, 79 companies have raised $11.5 billion through public listings, making India the world’s fourth-busiest IPO market in 2025 despite the Nifty 50 gaining only 5% versus Asia’s 23% average.

Regulatory catalysts:
India’s securities regulator has eased listing norms for large private firms, while the RBI relaxed loan rules for IPO participants, creating a supportive ecosystem. This has drawn conglomerates like Tata Group (Tata Capital’s ₹15,512 crore IPO) and multinational subsidiaries like LG Electronics India (₹11,607 crore IPO).

Grey market signals:
LG India commands a 13.68% premium (₹156), Tata Capital shows 8%, while WeWork India lags at 2.31% (₹15).

Peer comparison:
IPO momentum contrasts with muted startup funding—Q3 2025 funding fell 38% YoY—suggesting public markets are absorbing risk appetite unmet by private capital.

Actionable investor takeaway:
Focus on quality over hype. Favor established brands with strong parentage and reasonable valuations. Monitor listing-day performance and avoid chasing grey market premiums blindly.

What to Watch Today

Earnings calendar
TCS and Tata Elxsi announce Q2 FY2026 results today—analyst consensus expects TCS to report steady revenue growth with improving margins despite global IT spending concerns.

IPO subscriptions
LG Electronics India IPO closes today (October 9), final subscription numbers due post-market hours; Anantam Highways InvIT IPO subscription period also concludes.

Global macro
US stock futures flat after Wednesday’s record close; Asian markets mixed with South Korea closed for holidays. Fed officials’ speeches may provide additional rate cut guidance following Wednesday’s FOMC minutes release.

Commodity watch
Gold trading near $4,000/oz, crude oil prices stable; INR/USD expected to hover around 88.70–88.85 range following recent strength in the dollar index.

FII/DII flows
Monitor continued institutional flow patterns after FPIs turned net buyers on October 7 following September’s ₹35,301 crore sell-off.

Quote of the Day

“Markets are paying for upside and insurance.”

— Synthesis of overnight flows (records in S&P/Nasdaq alongside record gold)

Compliance Disclaimer

This newsletter is for informational purposes only and does not constitute investment advice. Market data is sourced from multiple verified platforms and cross-validated as per our editorial standards. Investors should conduct independent research and consult financial advisors before making investment decisions. Oorjita FinAI Services is not liable for any investment decisions based on this content. Markets are subject to volatility and past performance does not guarantee future results.

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