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Brent crude prices surged to over $105 per barrel, affecting the Indian stock market negatively. The Sensex dropped 1,045 points, significantly impacting investor wealth by Rs 10 lakh crore. Foreign portfolio investors sold stocks worth approximately Rs 13,000 crore, marking a high level of outflows. The ongoing market decline has led to a nine-week losing streak, which could become the longest on record.
Stock market recommendations: Axis Bank, and Authum Investment & Infrastructure Ltd have been recommended as the top stocks to buy today on October 9, 2026 by Hitesh Rathi, Technical Analyst (Equity & Derivatives) at Angel One.
Tata Consultancy Services (TCS) stated that the US government's suspension of the PERM programme would not affect its workforce strategy. The company emphasized its commitment to hiring local talent across its numerous offices in the US. TCS plans to increase its workforce in the US by hiring 15,000 employees over the next five years. The US government suspended the PERM programme as part of a crackdown on skilled-worker immigration.
The Income Tax Appellate Tribunal (ITAT), Chennai, has quashed a reassessment involving Rs 2.51 crore additionals after holding that the Income Tax Department had issued the reopening notice after the statutory time limit had already expired.
The natural question for investors at this point is what to do next. Sticking to their long term strategy is the best course of action, even when it takes real patience. Investors should also remember that the discomfort of waiting is a normal part of investing and not a sign of a wrong decision.