The domestic market is expected to open deep in the red on Thursday, October 22, with GIFT NIFTY futures indicating a 104‑point drop in the NIFTY50 index. Oil‑sensitives such as ONGC, Oil India, Reliance Industries and other upstream producers remain in focus as crude prices climbed on geopolitical tensions in the Middle East. Brent crude futures rose 1.2% to $110.11 a barrel, while US West Texas Intermediate gained 1% to $98.12 after reports of further Houthi attacks in Saudi Arabia prompted the US to order diplomats and their families to leave the Kingdom.

Higher crude prices can benefit upstream producers but may raise input costs for oil marketing companies like IOC, BPCL and HPCL, and fuel‑dependent sectors such as aviation and paints. The impact on individual companies will depend on crude price movements, refining margins, fuel pricing and the extent to which higher costs can be passed on to consumers. Oil‑linked stocks are likely to remain in focus as the market reacts to these dynamics.

Earnings are slated for 61 companies on the BSE list, including Adani Energy Solutions, Hindustan Petroleum Corporation, Adani Total Gas, Havells India, Swiggy, Nippon Life India Asset Management, Jindal Stainless, Colgate Palmolive India, Bharat Petroleum Corporation, CSB Bank, Cyient and CreditAccess Grameen. Persistent Systems has opened a qualified institutional placement to raise up to $450 million, or about ₹4,265 crore, setting a floor price of ₹5,550 per share under SEBI’s pricing formula. The company may offer a discount of up to 5% on the floor price, in line with a special resolution on October 5.

Eternal reported a 92.31% increase in consolidated net profit to ₹125 crore for the September quarter, up from ₹65 crore in the second quarter of the preceding fiscal year. Sequentially, post‑tax profit surged 35.87%. Revenue from operations rose 77.62% to ₹23,138 crore from ₹13,590 crore a year ago, while EBITDA advanced 214.64% to ₹752 crore from ₹239 crore in the corresponding quarter of the previous fiscal year. FSSAI issued notices to Nestle India, Abbott Healthcare, Ira Fathima, Nutricia International and Mead Johnson Nutrition for illegal advertising of infant milk substitutes on Instagram.

Mahindra and Mahindra Financial Services posted a 55% jump in September quarter profit to ₹911 crore, driven by core income growth and lower provisions. Core net interest income grew 21% to ₹3,413 crore on a 15% jump in assets under management, with the net interest margin stable at 7%. The NIM compressed compared to 7.3% in the quarter‑ago period due to special financing to dealers and a higher liquidity buffer of ₹17,000 crore. IHCL reported a 19.35% rise in consolidated profit to ₹379.85 crore, with revenue from operations at ₹2,484.32 crore and total expenses at ₹2,017.41 crore.

Reliance Industries’ Jio Platforms IPO, launched on Wednesday, seeks to raise about ₹30,213 crore at the upper end of its price band of ₹1,065‑₹1,119 per share. The offering will close on October 23 and up to ₹27,500 crore of the proceeds will be used to repay borrowings at Reliance Jio Infocomm Ltd, with the remainder earmarked for growth capital expenditure and working capital needs. Moody’s Ratings described the transaction as credit positive, strengthening RIL’s financial flexibility. PC Jeweller posted a 58% jump in consolidated net profit to ₹330.66 crore, while SBI is investigating the suspected exposure of 3,897 customer records on the dark web, and HDFC Bank has initiated an internal enquiry into alleged leaks of confidential information.