Last Updated:October 01, 2025, 09:12 IST

Indian equities are poised for a subdued start on Wednesday as investors remain cautious ahead of the Reserve Bank of India’s MPC

Stock market Today

Indian equities are poised for a subdued start on Wednesday as investors remain cautious ahead of the Reserve Bank of India’s (RBI) policy announcement scheduled for 10 a.m. At 7:17 a.m., GIFT Nifty futures were trading 12 points lower at 24,767, signaling a soft opening for domestic markets.

Most economists expect the RBI to hold rates steady, though some anticipate a rate cut. A poll revealed that while the majority forecast a status quo, a few—including the State Bank of India (SBI)—project an additional 25-basis-point (bps) reduction in the repo rate.

Global Cues

Asian markets opened on a mixed note following overnight gains on Wall Street. Japan’s Nikkei slipped 1.01 per cent, while South Korea’s Kospi was down 0.95 per cent. Chinese markets remained closed for the National Day and Mid-Autumn Festival holidays.

On Wall Street, all three major indices ended Tuesday’s volatile session higher despite lingering concerns over a potential US government shutdown, which could delay key economic data releases and complicate the Federal Reserve’s rate policy outlook.

Aparna Deb

Aparna Deb is a Subeditor and writes for the business vertical of News18.com. She has a nose for news that matters. She is inquisitive and curious about things. Among other things, financial markets, economy, a…Read More

Aparna Deb is a Subeditor and writes for the business vertical of News18.com. She has a nose for news that matters. She is inquisitive and curious about things. Among other things, financial markets, economy, a… Read More

Read More

Last Updated:October 01, 2025, 08:05 IST

The outcome—including the MPC’s decision on the repo rate and other key policy measures—will be announced at a press conference on October 1.

RBI MPC Meeting October 2025 Live Updates: RBI Repo Rate Cut, Loan Interest and monetary policy committee latest news

RBI MPC October Outcome Today: The Reserve Bank of India (RBI) has announced that Governor Sanjay Malhotra will reveal the outcome of the Monetary Policy Committee’s (MPC) October meeting at 10 am on Wednesday. The announcement will be streamed live on the RBI’s YouTube channel, official website, and X account.

A press conference at noon will follow on the same platforms to provide deeper insights into the central bank’s policy decisions. News18 will also share live updates through its blog on the MPC policy meeting.

The October MPC meeting was held from September 29 to October 1. The remaining MPC meetings for the 2025-26 financial year are scheduled for December 3-5, 2025, and February 4-6, 2026.

Where To watch Sunjay Malhotra’s Address LIVE

Viewers can tune in live at 10 a.m. on Wednesday to catch RBI Governor Sanjay Malhotra’s announcement of the MPC’s October policy outcome. The address will be streamed on the RBI’s official YouTube channel.

It can also be viewed on the central bank’s website and its official X account. These platforms will provide direct and uninterrupted access to the event, ensuring that viewers can follow the announcement in real time.

RBI MPC Meeting Expectations

Economists broadly expect the MPC to maintain the status quo on policy rates, which would mark the second consecutive pause. Between February and June 2025, the RBI had lowered the repo rate by a cumulative 100 basis points (bps) to 5.5%, where it currently stands.

“The Monetary Policy Committee is anticipated to maintain the status quo on the repo rate in its October 2025 review. This view is supported by the positive impact of GST reforms on demand, stronger-than-expected Q1 FY26 GDP growth, and an inflation trajectory that, while lowered due to GST rationalisation (FY26 average now ~2.6%), is expected to slope upwards thereafter,” said Aditi Nayar, Chief Economist at ICRA Ltd.

India’s GDP growth rose to a five-quarter high of 7.8% in Q1 FY26, compared with 6.5% in the same period last year and 7.4% in Q4 FY25.

The government recently rolled out a two-slab GST structure of 5% and 18% (effective September 22) by abolishing the previous four-rate regime—an overhaul expected to further boost consumption.

“RBI is likely to remain on pause in October, awaiting clarity on GST impact and tariffs,” said Gaura Sengupta, Chief Economist at IDFC FIRST Bank. She added that the RBI’s growth outlook remains positive due to stronger rural demand and sustained government capex, even as urban consumption and private capex remain muted.

However, some experts see scope for a rate cut.

Soumya Kanti Ghosh, Group Chief Economic Advisor at State Bank of India (SBI), said there is a “merit and rationale in going for a rate cut,” but stressed that it would require calibrated communication given the higher threshold for cuts post-June.

“No point in committing a Type 2 error (no rate cut with neutral stance) in September also… A 25-bps rate cut in September is the best possible option for RBI,” he noted in a recent report, adding that it would signal the RBI’s forward-looking stance.

Economists at Nomura expect two additional cuts in the October and December meetings. “As the market is currently only pricing in around 10 bps of cuts over the next few months, we see the risk/reward as attractive,” Nomura said in a report.

Meanwhile, Goldman Sachs expects inflation to remain benign on account of softer food prices and the pass-through effects of lower GST rates. Headline inflation rose to 2.7% in August from an eight-year low of 1.61% in July. “Assuming a partial pass-through of lower GST rates, we recently lowered our headline inflation forecasts for CY25 and FY26 by 0.2 percentage points and 0.3 percentage points to 2.8% YoY,” Goldman Sachs said.

External Factors

The MPC meeting coincides with ongoing India-US trade negotiations following US President Donald Trump’s decision to hike tariffs on Indian goods by an additional 25% (effective August 27), bringing the total to 50%. The outcome of these talks could significantly influence India’s growth outlook.

The meeting also follows the US Federal Reserve’s first rate cut of 2025, lowering its benchmark rate by 25 bps to 4–4.25%.

Previous MPC Decisions

• February 2025: Repo rate cut by 25 bps
• April 2025: Repo rate cut by 25 bps to 6%
• June 2025: A 50-bps jumbo cut lowered the repo rate to 5.5%
• August 2025: Repo rate held steady at 5.5% with a neutral stance

The October decision is being closely watched for signs of further easing or continued pause as India navigates evolving global and domestic challenges.

Aparna Deb

Aparna Deb is a Subeditor and writes for the business vertical of News18.com. She has a nose for news that matters. She is inquisitive and curious about things. Among other things, financial markets, economy, a…Read More

Aparna Deb is a Subeditor and writes for the business vertical of News18.com. She has a nose for news that matters. She is inquisitive and curious about things. Among other things, financial markets, economy, a… Read More

Read More

Nike on Tuesday posted surprise sales growth in its fiscal first quarter, but the sneaker giant still has work ahead to execute its turnaround.

The company said revenue rose 1% in the three months ended Aug. 31, after previously saying it anticipated sales would fall by a mid-single digit percentage in the period.

Still, Nike’s profits fell 31% while gross margin dropped 3.2 percentage points to 42.2% during the quarter — a warning sign to investors that its efforts to clear through old inventory are still ongoing.

In a press release, finance chief Matt Friend warned that “progress will not be linear.”

“I’m encouraged by the momentum we generated in the quarter, but progress will not be linear as dimensions of our business recover on different timelines,” said Friend. “While we navigate several external headwinds, our teams are focused on executing against what we can control.”

Here’s how Nike performed during the quarter compared with what Wall Street was anticipating, according to consensus estimates from LSEG:

• Earnings per share: 49 cents vs. 27 cents expected
• Revenue: $11.72 billion vs. $11.0 billion expected

Nike’s reported net income for the period was $727 million, or 49 cents per share, compared with earnings of $1.05 billion, or 70 cents per share, in the year-ago quarter.

Sales rose to $11.72 billion, up about 1% from $11.59 billion a year earlier.

In a statement, CEO Elliott Hill said the company is making strides in three key areas: wholesale, running and North America. During the quarter, wholesale revenue rose 7 to about $6.8 billion%, while sales in North America climbed 4% to $5.02 billion — better than the $4.55 billion analysts were expecting, according to StreetAccount.

However, beyond those three areas, Hill acknowledged parts of the business are still struggling.

“While we’re getting wins under our belt, we still have work ahead to get all sports, geographies, and channels on a similar path as we manage a dynamic operating environment,” said Hill.

During the quarter, Nike direct sales fell 4% to about $4.5 billion. Revenue in China — one of the company’s most important markets — was down 9%.

Since Hill took over nearly a year ago, he’s been working to get Nike back to growth and undo some of the work his predecessor John Donahoe implemented. One of the most important parts of that strategy has been reigniting Nike’s innovation engine and clearing through stale inventory to make way for new styles.

Though the strategy is crucial to Nike’s efforts to grow again and take back market share, it comes with pain in the short term. Clearing out old inventory has required Nike to rely on discounting and less profitable sales channels to move products, which has impacted its profitability.

During the quarter, inventories were down 2% compared to the prior year as units decreased, which was offset by increased product costs related to higher tariffs.

Ahead of Nike’s release, investors were looking for any clues into how those efforts are going and how much longer they’ll take. The company was expected to provide more insight into its progress during a conference call with analysts at 5 p.m. ET.

Beyond inventory management, Hill has also pledged to realign Nike’s corporate structure so it would once again segment teams by sport instead of by women’s, men’s and kids. In late August, the company started shuffling teams. As part of the restructuring, Nike said it would cut around 1% of its staff, and most employees would be moved into new roles by Sept. 21. 

Hill has said a focus on sports over lifestyle will help the company win back its crucial athlete consumer, but lifestyle merchandise is still an important part of the strategy because it allows Nike to reach a larger consumer segment, and more women. Growing the number of female customers has been another important part of Hill’s strategy and Nike’s recent partnership with Kim Kardashian’s shapewear brand Skims is one of the ways it’s getting there.

NikeSKIMS, originally slated to release in the spring, officially launched last week. Investors will be looking out for color on how the new brand is performing and how it could affect sales.

This story is developing. Please check back for updates.