Top 10@10 — CNBC-TV18’s daily newsletter featuring the top 10 stories on markets, corporate updates, economic insights, and financial highlights — delivered at 10 pm.
Global and domestic trade tensions are in sharp focus today. US Commerce Secretary Howard Lutnick has urged India to cut Russian oil imports and open its markets wider to American firms, even as Commerce Minister Piyush Goyal said the first tranche of the India-US trade deal should be wrapped up by November. Meanwhile, EU officials appear reluctant to match President Trump’s call for steep tariffs on India and China.
On the markets front, the Nifty closed at a three-week high amid trade optimism, even as the rupee slipped to fresh record lows. SIAM sees GST cuts and festive demand pushing two-wheeler sales to a new peak, while Union Minister Nitin Gadkari has alleged a “paid campaign” against him over the E20 fuel rollout.
Corporate action is buzzing, Tega Industries bets big on global scale with its high-stakes Molycop acquisition, while Oracle’s $255 billion market-cap surge was nearly double the size of TCS itself.
Beyond business, Nepal’s unrest turned violent with ministers fleeing mobs, while in the US, conservative influencer Charlie Kirk was assassinated on stage, shocking Trump’s political base.
Lutnick urges India to rethink Russian Oil buying and open markets
US Commerce Secretary Howard Lutnick has said that India must make meaningful concessions—starting with reducing its reliance on Russian crude—to maintain strong economic ties with the United States. He also emphasised that New Delhi should take steps to open its markets more fully to American businesses.
“We will sort out India; they have to stop buying Russian oil,” Lutnick told CNBC in an interview.
Nifty ends at 3-week high on trade optimism; rupee hits fresh record low
https://www.youtube.com/watch?v=tRqmhcuAtBM
The benchmark indexes ended at a three-week high on Thursday, extending their longest winning streak in five months, as optimism regarding progress in India’s trade talks with the United States boosted risk sentiment in the equity markets. The NSE Nifty 50 index closed 32 points higher at 25,006, holding above the 25,000 mark, while the S&P BSE Sensex rose 124 points to 81,549. The Nifty Bank index added 134 points to finish at 54,670, and the broader Nifty Midcap 100 index climbed 44 points to 58,044. Market breadth was neutral with the advance-decline ratio at 1:1.
First Tranche By November: Commerce Minister Piyush Goyal On India-USA Trade Talks
https://www.youtube.com/watch?v=31IYOSp2-_w
Commerce Minister Piyush Goyal has said the first tranche of the India-United States trade deal should be finalised by November. Goyal told reporters that both sides are satisfied with the progress on talks.
EU may not cede to Trump’s nudge Trump’s nudge to hike tariff on India, China
The European Union is very unlikely to impose crippling tariffs on India or China, the main buyers of Russian oil, as US President Donald Trump has urged the bloc to do, EU sources said.
An EU delegation, including the EU’s Russia sanctions chief, flew to Washington this week to discuss how the two sides can coordinate on sanctions against Russia over its full-scale invasion of Ukraine. The Reuters Daily Briefing newsletter provides all the news you need to start your day.
Festive demand, GST cut to boost sales; two-wheeler industry may hit new peak, says SIAM
https://www.youtube.com/watch?v=wLSF3W84J10
Shailesh Chandra, President of SIAM, told CNBC-TV18 that the GST cut will provide a strong lift to auto demand in the immediate term. He said, “It is coming just ahead of the festive season, so there will be a big boost in the short term, and in terms of how this whole thing will pan out is something to be observed.” He added that the second half of FY26, which usually contributes 55 percent of annual sales, is expected to perform better.
Nitin Gadkari says there was a paid campaign against him during E20 rollout
https://www.youtube.com/watch?v=fziJGhGSm8U
Union Minister Nitin Gadkari has alleged that there was a “paid campaign” against him regarding the E20 fuel rollout, calling it a “paid political campaign” that has been “proved false”. His remarks come after the Supreme Court rejected petitions challenging the E20 implementation programme. “All testing agencies have confirmed there is no problem with implementation,” Gadkari said, emphasising the government’s efforts to promote cleaner fuels. He made the comments while addressing the 65th SIAM Annual Convention on Thursday, 11 September.
Tega Industries’ high-stakes Molycop buy targets global scale, fatter margins
https://www.youtube.com/watch?v=NHOYz7HWnhk
Tega Industries is confident it can meaningfully lift group profitability through its Molycop acquisition, but margin expansion will take time and integration risks remain. “We expect the acquisition to be earnings accretive between the second and third year,” Tega’s MD and Group CEO Mehul Mohanka told CNBC-TV18. While the Australia-headquartered Molycop currently operates at around 11% earnings before interest, tax, depreciation, and amortisation (EBITDA) margins, Tega is targeting 13–14% over the next three years. On a consolidated basis, the company expects to push margins closer to 18% over a three- to four-year timeframe.
Oracle’s one-day market cap surge of $255 billion is double TCS’ entire market cap
https://www.youtube.com/watch?v=c3zM1y3jmYU
Equity markets often run ahead of fundamentals, with expectations outpacing current earnings—and Oracle Corp. is the latest example. The company’s stock soared 36% on Wednesday, adding $255 billion to its market capitalisation as investors bet that recent and upcoming bookings will fuel rapid growth in its cloud infrastructure business.
Nepal unrest: Ministers and families flee, Fin Min stripped in Gen Z protest
https://www.youtube.com/watch?v=qI84vbGpBPw&pp=0gcJCckJAYcqIYzv
Dramatic videos are doing rounds on social media of Nepalese ministers being beaten, their houses burnt down by the violent mob. In one such video, government ministers and their families cling to the sling of an Army helicopter to save themselves. CNBCTV18.com could not verify the authenticity of these videos. In another video, the country’s finance minister Bishnu Prasad Paudel was stripped of clothes and chased into a river by angry protesters during deadly anti-corruption protests.
Conservative influencer Charlie Kirk assassinated in Utah: What we know so far
https://www.youtube.com/watch?v=2FWTqupAimY
Charlie Kirk, a conservative political commentator and staunch ally of President Donald Trump, was shot dead on stage at an event at Utah Valley University in Orem. A video of the incident circulating on social media shows the well-known conservative activist speaking to a crowd when a loud noise, a gunshot, rang out. Witnesses observed Charlie Kirk lying motionless on the ground after being shot, with blood streaming from a wound in his neck.
Follow the CNBC-TV18 channel on WhatsApp
Catch crispy news updates on the go! – CNBCTV18 Minis
Watch all #videos under one segment- CNBCTV18 Binge
We bring you real-time updates and analysis of the stock market – Real-time market updates
We’ll see you on Friday with another engaging ‘Top 10@10.’