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Markets wrap up Diwali-shortened week on positive note with modest gains
Oct-24-2025

Markets extended their winning streak for fourth straight week. Sensex and Nifty wrapped up Diwali-shortened week on positive note with modest gains amid better-than-expected Q2 results from major companies, festival optimism and foreign fund inflows. However, gains remained capped amid sanctions on Russian oil and weak economic data on the domestic front.

Some of the major developments during the week are:

Output of eight key infrastructure sectors slow in September: The Ministry of Commerce & Industry in its data has showed that the output of eight key infrastructure sectors stood at 3% in September 2025, slower than the 6.5% expansion recorded in August 2025. It was 2.4% in September last year.  

India's private sector activity eases to five-month low in October: The HSBC Flash India Composite Output Index - a seasonally adjusted index that measures the month-on-month change in the combined output of India's manufacturing and service sectors - fell to 59.9 in October from 61.0 in September.

India's exports to US contract: Rating agency Crisil in its report said that India's exports to the US contracted, while shipments to non-US destinations remained robust, surpassing previous growth figures. Merchandise exports to the US had shown a degrowth by 11.9% to $5.5 billion in September 2025.

Automobile exports grow 26% Y-o-Y in September quarter: The industry body SIAM’s data has showed a 26% Y-o-Y growth in India’s Automobile exports to 16,85,761 units for the September quarter driven by highest-ever shipments of passenger vehicles, two-wheelers and three-wheelers during the period.

Foreign investors to invest Rs 50,000 crore in India's finance, banking sectors: Commerce and Industry Minister Piyush Goyal has said that in the last few months, foreign investors have announced plans to invest over Rs 50,000 crore in India's finance and banking sectors.

BSE movement for the week

The Bombay Stock Exchange (BSE) Sensex surged 259.69 points or 0.31% to 84,211.88 during the week ended October 24, 2025. The BSE Midcap index gained 234.68 points or 0.51% to 46,594.96 and Smallcap index surged 475.84 points or 0.90% to 53,516.80. On the sectoral front, S&P BSE IT was up by 1,081.39 points or 3.16% to 35,260.84, S&P BSE TECK was up by 462.86 points or 2.69% to 17,667.72 and S&P BSE Metal was up by 497.69 points or 1.47% to 34,290.99 were the top gainers on the BSE sectoral front, while S&P BSE Consumer Discretionary was down by 42.71 points or 0.42% to 10,086.66, S&P BSE FMCG was down by 85.61 points or 0.41% to 20,669.88 and S&P BSE Consumer Durables was down by 242.53 points or 0.40% to 60,782.73 were the top losers on the BSE sectoral front.

NSE movement for the week

The Nifty surged 85.30 points or 0.33% to 25,795.15. On the National Stock Exchange (NSE), Nifty IT was up by 1035.65 points or 2.96% to 35,986.35, Nifty Mid Cap 100 was up by 328.95 points or 0.56% to 59,231.20. On the other side, Bank Nifty was down by 13.75 points or 0.02% to 57,699.60 and Nifty Next 50 was down by 0.15 points to 69,355.90.

FII transactions during the week

Foreign Institutional Investors (FIIs) were net buyers in equity segment in the week, with gross purchases of Rs 49,790.81 crore and gross sales of Rs 48,941.09 crore, leading to a net inflow of Rs 849.72 crore. They also stood as net buyers in the debt segment with gross purchases of Rs 6,083.93 crore against gross sales of Rs 4,024.77 crore, resulting in a net inflow of Rs 2,059.16 crore. In hybrid segment, FIIs stood as net buyers, with gross purchases of Rs 246.48 crore and gross sales of Rs 81.50 crore, leading to a net inflow of Rs 164.98 crore.

Industry and Economy

Expressing confidence over India’s exports, Commerce and Industry Minister Piyush Goyal has said that despite global uncertainties due to the US tariffs, India's exports will register a positive growth in 2025-26. He said that during the first six months (April-September) of this fiscal, the country's goods and services exports have recorded growth. It grew by about 5 per cent to $413.3 billion during April-September 2025-26. India's merchandise shipments too rose by 3 per cent to $220.12 billion during the period. He said ‘there is resilience, there is confidence, there is a demand for our goods and services across the world and India will continue on this growth trajectory, and we are confident we will end 2025-26 with a positive growth in India's exports’. 

Outlook for the coming week

In the passing week, Indian equity markets ended with marginal gains amid festive buying and foreign fund inflows. 

In the coming week, on economic front, investors will be eyeing the data of Industrial Production, which schedule to be released on October 28. Government Budget Value, Bank Loan Growth, Deposit Growth, Foreign Exchange Reserves data are going to be out on October 31. 

Markets would also be tracking slew of earnings from industry’s big-wigs, like Indian Oil Corporation, Adani Green Energy, Jindal Steel, TVS Motor Company, Coal India, HPCL, Larsen and Toubro, Cipla, ITC, BPCL, Maruti Suzuki India etc. 

On the global front, investors will be eyeing macro-economic reports from world’s largest economy, United States, starting with Dallas Fed Manufacturing Index on October 27 followed by Redbook YoY, Dallas Fed Services Index on October 28, Fed Interest Rate Decision on October 29, Fed Balance Sheet, Baker Hughes Oil Rig Count, Chicago PMI on October 31.

Top Gainers 

  • Shriram Finance up by 6.39% was the top gainer on Nifty for the week - Shriram Finance remained on buyer’s radar ahead of its results for the Q2FY26, to be out in coming week. Meanwhile, the board of directors at their meeting to be held on October 31, 2025 likely to consider periodical resource mobilisation plan for issuance of debt securities viz. redeemable NCDs/ subordinated debentures, bonds/notes on private placement basis.
  • Hindalco up by 5.69% was another top gainer on Nifty for the week - Metal stocks traded higher following rise in Aluminium prices. Aluminium prices were higher due to the tight supply and demand dynamics globally, and due to expectations of monetary easing around the world. Additionally, a smelter in Iceland is temporarily shutting down production following an equipment failure, which would likely affect production worth 100 kt.

Top Losers 

  • Eternal down by 6.11% was the top loser of the week on Nifty - Eternal traded under pressure amid reports that the company decided to remove its 15-minute food delivery service called ‘Quick’ from its main app just four months after rolling it out, citing the lack of visibility on the path to profitability. Along with Quick, Eternal CEO Deepinder Goyal has said the company plans to shut down Everyday -- a home-cooked meal service -- as well.
  • Wipro down by 4.27% was another top loser of the week on Nifty - Investors booked profit in the stock after it reported rise of 1.17% in consolidated net profit at Rs 3,246.20 crore for Q2FY26 as compared to Rs 3,208.80 crore for the same quarter in the previous year. The total income of the company increased by 1.64% at Rs 23,645 crore for Q2FY26 as compared to Rs 23,263.50 crore for the corresponding quarter previous year.

Technical viewpoints

During the week, CNX Nifty touched the highest level of 26,104.20 on October 23 and lowest level of 25,508.60 on October 24. On the last trading day, the Nifty closed at 25,795.15 with weekly gain of 85.30 points or 0.33 percent. For the coming week, 25,501.10 followed by 25,207.05 are likely to be good support levels for the Nifty, while the index may face resistance at 26,096.70 and further at 26,398.25 levels.

US Market

The U.S. markets traded mostly higher during the week after a private report said the Trump administration is quietly watering down some of the tariffs that underpin the president's signature economic policy.

Some of the major developments during the week are:

U.S. existing home sales increase in September: Existing home sales jumped by 1.5 percent to an annual rate of 4.06 million in September after dipping by 0.2 percent to an annual rate of 4.00 million in August.

Treasury announces details of two-year, five-year & seven-year note auctions: The Treasury revealed plans to sell $69 billion worth of two-year notes, $70 billion worth of five-year notes and $44 billion worth of seven-year notes.

Trump administration announces sanctions on Russia's two largest oil companies: The Treasury Department announced sanctions against Rosneft and Lukoil, citing Russia's lack of serious commitment to a peace process to end the war in Ukraine.

Twenty-year bond auction attracts above average demand: The twenty-year bond auction drew a high yield of 4.506 percent and a bid-to-cover ratio of 2.73.

Trump says he expects to reach deal with China: U.S. President Donald Trump said he expected to reach agreements with Chinese President Xi Jinping when they meet in South Korea next week.

European Market

European markets garnered notable gains during the passing week, with investors largely reacting to corporate earnings announcements and data showing an improvement in industry confidence in France in the month of October.

Some of the major developments during the week are:

Italy current account surplus grows in August: The Bank of Italy reported that the current account surplus rose to EUR 4.7 billion from EUR 1.65 billion last year.

Eurozone current account surplus lowest since early 2023: The data from the European Central Bank showed that the current account surplus decreased to EUR 12 billion in August from EUR 30 billion in July. 

French manufacturing sentiment strengthens unexpectedly: The data from the statistical office INSEE showed that the manufacturing confidence index rose to 100.7 in October from 96.7 in September, while the reading was forecast to drop to 96.0. 

Spain trade gap widens in August: The preliminary data from the Economy Ministry showed that the trade deficit rose to EUR 6.0 billion in August from EUR 4.8 billion in the corresponding month last year. 

UK retail sales rise unexpectedly: The data from the Office for National Statistics showed that retail sales advanced 0.5 percent in September from the previous month, confounding expectations for a decline of 0.2 percent.

Asian Market

Asian markets traded higher during the passing week amid easing trade tensions between the U.S. and China after US President Donald Trump and Chinese President Xi Jinping agreed to meet to resolve tariff issues.

Some of the major developments during the week are:

Japan's core consumer prices rise in September: Overall consumer prices in Japan were up 2.9 percent on year in September. That was in line with expectations and up from 2.7 percent in August.

Japan logs trade deficit in September: Japan posted a merchandise trade deficit of 234.62 billion yen in September. That was well shy of expectations for a surplus of 22.0 billion yen following the 242.6 billion yen shortfall in August.

Japan exports increase in September: Japan’s exports were up 4.2 percent on year at 9.413 trillion yen in September, missing forecasts for an increase of 4.6 percent following the 0.1 percent decline in the previous month.

China's economic growth slows to 4.8% in 3rd quarter: China's economy grew 4.8 percent in the third quarter of this year, outpacing consensus estimates, driven by exports amid weak consumption and persistent deflation.

BOK holds benchmark interest rate steady: The Bank of Korea (BOK) kept its benchmark interest rate unchanged at 2.5 per cent as widely expected to avoid spurring a housing market rally.
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