💹 *Daily Business Briefs | Fri, 02 Oct 2026*

_Markets closed today — Gandhi Jayanti_

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📊 *ECONOMY & POLICY*

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📉 *Rupee at 96.31, bond yield at 2024 high*

The rupee fell 0.5% to 96.31/$ and the 10-year yield rose to 7.21%, its highest since April 2024.

Dealers see 7.25% by the 7 Oct MPC outcome, and a Business Standard poll has 8 of 10 expecting a 25 bp hike.

📎 _Read: Business Standard_

https://www.business-standard.com/markets/news/rupee-bonds-face-pressure-as-us-treasury-yields-rise-and-crude-tops-100-126100101136_1.html

📉 *Nifty’s eight-week slide longest since 2001*

Nifty closed at 22,421.95 (−0.88%) and Sensex at 71,909.7 (−0.79%) on Thursday, a 3.1% weekly loss for the Nifty.

Auto and metals led the fall, with US yields and FPI selling cited as the drivers.

📎 _Read: Business Standard_

https://www.business-standard.com/markets/news/nifty-s-eight-week-slide-puts-2001-record-back-in-sight-as-brent-bites-126100101089_1.html

📈 *Net GST up 18.1% to ₹1.77 trn*

September net collections grew at the fastest pace in six months, with gross GST up 14.7% to ₹2.04 trn.

Net growth was around 14% in Q2 against around 7% in Q1, a supportive fiscal print as crude pressure builds.

📎 _Read: Business Standard_

https://www.business-standard.com/economy/news/net-gst-revenue-rises-18-1-to-1-77-trn-in-september-fastest-in-6-months-126100100628_1.html

📈 *Manufacturing PMI hits seven-month high of 55.1*

The HSBC India PMI rose from 52.8 in August (flash was 55.7), with new orders growing fastest since February and export orders accelerating.

The Q2 average of 53.8 is still the weakest since 2021, so the rebound is not yet a trend.

📎 _Read: Business Standard_ _(substituted — thehindubusinessline.com blocks direct access; verified via Business Standard)_

https://www.business-standard.com/economy/news/india-s-manufacturing-pmi-rises-to-55-1-in-september-hits-7-month-high-126100100299_1.html

⚡ *Power demand up 11.35% to 162.19 BU*

September consumption was driven by humid weather, and peak demand of 269.06 GW came just short of May’s record.

Experts expect demand to hold steady in October as the festive season begins.

📎 _Read: NewsBytes_ _(substituted — thehindubusinessline.com blocks direct access; verified via NewsBytes)_

https://www.newsbytesapp.com/news/india/indias-electricity-consumption-rises-1135-to-16219-billion-units/tldr

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🏢 *COMPANIES*

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💰 *HDFC Bank names Anup Bagchi MD & CEO*

The ICICI Prudential Life chief takes charge on 27 Oct for three years after RBI approval, the bank’s first outside CEO.

HDFC Bank ADRs rose 5%, and he inherits a governance cloud since March and the job of reviving deposit growth and margins.

📎 _Read: Business Standard_

https://www.business-standard.com/companies/people/hdfc-bank-board-appoints-anup-bagchi-as-md-ceo-with-effect-from-october-27-126100101096_1.html

💻 *Accenture beats Q4 guidance, guides FY27 at 3–6%*

Q4 revenue came in above the high end of its guided range, and FY27 growth is guided at 3–6% in local currency.

A low-single-digit guide frames the demand backdrop for Indian IT services.

📎 _Read: Business Standard_

https://www.business-standard.com/companies/news/accenture-beats-q4-revenue-guidance-projects-3-6-growth-for-fy27-126100101493_1.html

📈 *Hyundai India September sales at record*

Sales rose 10.8% YoY to a record 77,916 units.

It stands against M&M’s 14% fall in SUV sales and Bajaj Auto’s 12% fall, which hit Nifty Auto on Thursday.

📎 _Read: Business Standard_

https://www.business-standard.com/industry/auto/hyundai-motor-india-sales-rise-10-8-yoy-to-record-77-916-units-in-sep-126100100245_1.html

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🌍 *GLOBAL & WORLD*

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📉 *US 10-year yield hits 5.34%, highest since 2002*

The dollar index rose 0.45% to 101.90 on Thursday alongside the yield move.

It pressures emerging-market currencies and bonds, feeding rupee weakness and FPI selling in India.

📎 _Read: Business Standard_

https://www.business-standard.com/markets/news/rupee-bonds-face-pressure-as-us-treasury-yields-rise-and-crude-tops-100-126100101136_1.html

💻 *OpenAI and Synopsys team up on chip-design AI*

The two will build a GPT model for AI-powered chip design.

It signals AI tooling moving deeper into semiconductor design, relevant to the deep-tech chain.

📎 _Read: Business Standard_

https://www.business-standard.com/technology/artificial-intelligence/gpt-synopsys-openai-synopsys-team-up-to-build-gpt-model-for-ai-powered-chip-design-126100100428_1.html

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