Bank of Canada raises rates for first time in three years on inflation fears

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• Stock recommendations for 29 October from MarketSmith India

  Indian benchmark indices faced downward pressure as elevated crude oil prices, weakness in IT heavyweights, and caution ahead of the US Federal Reserve's interest rate decision dampened sentiment. Despite the headline declines in the Sensex and Nifty, buying emerged at lower technical levels alongside notable outperformance in broader markets and auto shares. Market participants are now positioning around resilient individual counters that present clear technical breakouts and solid fundamental triggers.

  5 min read
• US oil prices fall as investors gauge risks to Mideast supply

  Crude benchmarks pulled back after a sharp midweek rally as traders weighed ongoing regional hostilities against fragile diplomatic efforts. Growing instability surrounds repeated assaults by Yemen's Houthis on transportation hubs and energy infrastructure across the Arabian Peninsula. At the same time, regional de-escalation talks remain stalled due to disagreements between mediators and Iranian leadership.

  1 min read
• Fed holds rates, says data will guide next move

  Central bank officials opted to keep the federal funds rate between 3.75% and 4% despite inflation rising at its fastest pace in five months. The move arrives less than a week before the November midterm elections as policymakers balance resilient consumer spending against elevated energy pressures. Financial markets responded with Treasury yields and the S&P 500 remaining higher following the announcement.

  2 min read