Friday, Oct 09, 2026: Three stories matter most — India’s $NIFTY just hit an 18-month low, Japan IPO fundraising is the lowest in 14 years, and surging Treasury yields put US bank earnings/dealmaking

$NIFTY sinks to an 18-month low, $SENSEX has wiped out Rs 30 lakh crore in less than six weeks, and $VIX jumps 10%. Drivers: rising oil, weak rupee, rate fears. This is a positioning flush, not a one-day event. RBI sell-buy swaps are slowing the rupee’s fall but pushing up forward premiums — hedging just got more expensive for foreign investors. That’s a quiet tax on Indian equity inflows. Watch the FX forwards market. $HEXAWARE surges 11% on a multi-year pact with Anthropic. Good signal for Indian IT: AI services demand is real, and midcaps can still win enterprise AI deals. Not sure people appreciate how much this validates the AI-services trade. $NVDA-backed Firmus scraps a $5bn Australian IPO on weak demand. Bad signal for AI infrastructure listings — even with the Nvidia halo, public markets won’t fund everything. Watch other AI IPO candidates reprice or pull. Musk asks “Is Ambani the real boss of India?” in Starlink row. $RELIANCE is the subtext. Foreign tech entering India now p

$NIFTY sinks to an 18-month low, $SENSEX has wiped out Rs 30 lakh crore in less than six weeks, and $VIX jumps 10%. Drivers: rising oil, weak rupee, rate fears. This is a positioning flush, not a one-