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HSBC says financials offer the best risk-return and it also likes industrials for their growth opportunities, forecasting 11-12% year-on-year earnings growth in FY27. Earnings growth is likely to lose momentum in the second half of FY27, and consensus forecasts of mid-teens growth in that period look slightly optimistic, with modest downward revisions expected. Investors are warming to non-AI stories, and India offers diversification, but modest earnings growth leaves the market exposed to rising yields and higher energy costs. HSBC also flagged El Niño risk, as CPI food inflation accelerated to 7.7% in September and could rise further.
- Meta's AI Push Draws Fresh Street Calls – Goldman Flags Higher Costs, UBS Sees Monetization Potential
Three firms kept Buy ratings on Meta but diverged on price targets. Goldman Sachs cut its target to $762 from $860, flagging possible upward pressure on 2027 operating expenses, while raising its revenue estimates for the next six to 18 months. UBS raised its target to $884 from $715, saying the rollout of Business Agents and growing Muse usage are laying the groundwork for generative AI revenue through WhatsApp and Messenger, and possible share gains in search advertising. Guggenheim raised its target to $850 from $700. META was trading nearly 1% lower in premarket trading and has risen over 17% so far this year, versus nearly 14% for the MAGS ETF.
- India forex reserves further dip to 726 bln USD - Xinhua
India's forex reserves fell for the fifth straight week, down 8.578 billion U.S. dollars to 726.027 billion dollars in the week ended October 9, according to the Reserve Bank of India's weekly bulletin. Foreign currency assets dropped 7.142 billion dollars to 597.605 billion, while gold reserves declined 1.319 billion to 105.094 billion. Special Drawing Rights fell 109 million dollars to 18.548 billion, and India's position at the IMF slipped 10 million to 4.78 billion dollars.
- Starboard sees big upside in Skyworks after Qorvo merger, Bloomberg reports
Starboard Value sees significant upside in Skyworks Solutions (SWKS) if the company delivers on the cost savings and margin targets from its merger with Qorvo, according to Bloomberg, citing people familiar with the matter. The activist investor considers Skyworks undervalued after completing the Qorvo acquisition earlier this month, and sees growth from the companies' complementary product portfolios. The merger targets at least $500 million in annual cost savings within three years, while management forecasts operating margins of 30% to 35% within two to three years. The combined company is valued at about $22 billion, as both firms face slowing growth after Apple shifted toward in-house chips.
- Gold , silver prices may see limited upside ahead of Diwali ; expert sees gold at Rs 1 . 5 lakh , silver at Rs 2 . 3 lakh
Gold and silver prices may see limited upside ahead of Diwali 2026, according to commodity expert Anuj Gupta in a Business Today report published October 17. He projects gold could move toward Rs 1.5 lakh per 10 grams and silver toward Rs 2.2–2.3 lakh per kg, supported by festive buying. Rising interest rates, inflation and growing investor interest in bonds could, however, limit gains, while silver also faces pressure from weak industrial demand, including concerns about China's solar industry. Gold has gained around 9% this year, while silver has declined nearly 9%. The article stresses that expert price targets are estimates, not guaranteed outcomes.
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