Indian equity markets opened higher with the Nifty crossing the 23,550 mark, supported by gains in IT, banking, and FMCG stocks. The Indian rupee opened stronger at 94.66 per dollar, gaining 24 paise. Meanwhile, gold and silver prices slid ahead of Dhanteras and Diwali, with MCX silver falling below 1.8 lakh rupees. Crude oil dropped overnight, easing pressure on the domestic economy amid ongoing geopolitical tensions and the US midterm elections. Adani Group announced plans to borrow 1.5 billion dollars via AdaniConnex as part of a 100 billion dollar investment in data centers by 2035. Corporate earnings remained in focus, with ITC posting a drop in profitability amid lower cigarette EBITDA, while Marico reported a 29 percent rise in net profit. Additionally, restaurants in Bengaluru, Mumbai, and Pune prepare for menu price hikes of 10 to 15 percent due to rising milk and commercial LPG costs. Sun Pharma recorded 11 percent revenue growth in the first half of the fiscal year.
