October 24, 2026: India’s business confidence improved in the July–September quarter after declining for four consecutive quarters, according to a survey by the National Council of Applied Economic Research. However, financial markets remained under pressure as the Sensex and Nifty extended their losing streak, crude oil prices climbed above $114 per barrel, and foreign exchange reserves declined by $5 billion.
Top India Headlines
- Indian Business Confidence Rises to 107.8 in September Quarter
India’s Business Confidence Index rose to 107.8 in the July–September quarter of FY27, up from 99.8 in the previous quarter, according to the National Council of Applied Economic Research. The improvement followed four consecutive quarters of decline in business sentiment.
- Sensex and Nifty Extend Losses for Fourth Consecutive Session
Domestic equity markets closed lower on October 23, 2026, extending their losses for a fourth straight session. The Sensex fell 126 points, or 0.17%, to 73,124, while the Nifty declined 88 points, or 0.39%, to settle at 22,600.
- Crude Oil Prices Rise as Brent Crosses $114 per Barrel
Global crude oil prices increased on October 23, 2026, amid concerns over supply risks. Brent crude rose 1% to $114.31 per barrel, while West Texas Intermediate gained 1.2% to $100.70 per barrel at the time of reporting.
- India’s Foreign Exchange Reserves Fall $5 Billion to $721 Billion
India’s foreign exchange reserves declined by $5 billion to $721 billion in the week ended October 16, 2026, according to Reserve Bank of India data. Foreign currency assets, the largest component of the reserves, fell by $5.7 billion to $591.8 billion.
- Rupee Weakens 11 Paise to Close at ₹94.94 Against US Dollar
The Indian rupee depreciated by 11 paise to close at ₹94.94 against the US dollar on October 23, 2026. The dollar index, which measures the US currency against a basket of six major currencies, stood at 101.77 during intraday trade.
- Gold Falls 0.7%; Silver Declines 2.7% in Indian Bullion Market
Gold and silver prices declined in the Indian bullion market on October 23, 2026. The price of 24-carat gold fell 0.7% to ₹1,41,630 per 10 grams, while silver dropped 2.7% to ₹1,94,415 per kilogram.
- Asian Markets Show Mixed Trends as European Indices Decline
Asian equity markets delivered a mixed performance on October 23. China’s Shanghai Composite rose 0.9%, Hong Kong’s Hang Seng gained 0.7%, South Korea’s Kospi advanced 0.3%, and Singapore’s Straits Times added 0.1%. Japan’s Nikkei 225 fell 0.3%, while European indices traded lower.
- India Aims to Launch Homegrown Mobile Brands by October 2028
Electronics and Information Technology Minister Ashwini Vaishnaw expressed confidence that India will have mobile phones designed and manufactured domestically and sold under Indian brands by October 2028. He made the statement at a summit in New Delhi, highlighting the country’s ambitions in mobile manufacturing and domestic brands.
- PM Modi Says Youth Remain Central to Government Policies
Prime Minister Narendra Modi said youth have remained at the centre of the government’s policies and initiatives. Addressing the Chinmaya Amrit Mahotsav Global Sammelan at Bharat Mandapam in New Delhi on October 23, 2026, he highlighted his public service and engagement with national development.
- India and China Agree to Improve Understanding of LAC for Border Management
The Ministry of External Affairs said India and China continue to use existing diplomatic and military mechanisms to address outstanding issues and prevent misunderstandings along the Line of Actual Control. The two countries have agreed to discuss ways to improve mutual understanding for better border management.
- President Murmu Says Chhattisgarh Has Moved Beyond Naxalism Through Joint Efforts
President Droupadi Murmu said Chhattisgarh had been freed from the menace of Naxalism through the combined efforts of the Central and state governments. Addressing the Bastar Dussehra Festival 2026 at Lalbag Maidan, she said the state was moving towards progress after leaving behind the path of Naxalism.
- Rajnath Singh Calls on Army to Prepare for Emerging Security Challenges
Defence Minister Rajnath Singh urged Army commanders to closely monitor geopolitical and regional developments and remain prepared for emerging challenges. Addressing the Army Commanders’ Conference in New Delhi on October 23, he emphasised the need for a long-term strategic vision.
- NSO Proposes Changes to PLFS 2027 to Improve Labour Market Statistics
The National Statistics Office has proposed changes to the Periodic Labour Force Survey for 2027 to improve the coverage and reliability of labour market data. The proposed changes include a separate sampling stratum for better representation in the survey.
- Vice President Releases ‘Advantage India: Reshaping the Future for an Equitable World’
Vice President C. P. Radhakrishnan released the book Advantage India: Reshaping the Future for an Equitable World on October 23, 2026. He highlighted India’s civilisational heritage, democratic traditions, technological progress and growing global influence.
