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India Stocks Whipsaw As Gold And Silver Set New Records

Fresh AMFI data point to rising allocations into multi-asset funds.

Overview

  • Sensex and Nifty jumped at the open on September 30 but the early gains faded within about an hour, leaving a choppy session.
  • MCX December gold futures hit ₹1,17,561 per 10 grams and silver touched ₹1,44,200 per kg, with IBJA domestic rates also at record levels.
  • Fabtech Technologies’ mainboard IPO opened with a ₹181–191 price band and a retail window through October 1, while the grey-market premium eased to about ₹10 from roughly ₹20 a day earlier.
  • Stock-specific moves stood out: Welcure’s board weighed a Telexcell Trade PTE offer to buy up to 25% at ₹20 per share alongside a 1:10 split and a 1-for-10 bonus, and Apollo Micro Systems rallied on disclosed MOUs, technology-transfer pacts and DRDO-related approvals.
  • A potential U.S. federal shutdown loomed with funding set to lapse at midnight, a risk flagged for markets as nonessential services would be paused and many federal employees left temporarily unpaid.