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Key gauges end higher for 2nd consecutive day on Friday
Oct-30-2026

Indian equity benchmarks ended higher for the second consecutive day on Friday supported by robust buying in IT firms and earnings-driven demand in the Tata Group's retail arm Trent. However, rising crude oil prices amid persistent tensions in the Middle East limited the market's gains. Meanwhile, exchange data showed Foreign Institutional Investors (FIIs) offloaded equities worth Rs 943.60 crore on Thursday.

Some of the important factors in trade:

India on track to achieve $1 trillion exports target in FY27 despite geopolitical uncertainties: Commerce and Industry Minister Piyush Goyal has expressed confidence that India is on track to achieve its ambitious $1 trillion exports target in FY27, despite geopolitical uncertainties and disruptions to global trade arising from the West Asia crisis and the Russia-Ukraine conflict. 

India’s growth momentum holds firm, but inflation and external risks persist: Despite persistent geopolitical frictions, the Finance Ministry has said that India’s economic activity continued to expand in Q2FY27, with GDP growth estimated at 7.35 per cent, following stronger-than-expected real GDP growth of 7.8 per cent in Q1FY27. 

Chairman of EAC-PM calls for strategic support to job-creating and frontier industries: S Mahendra Dev, chairman of the Economic Advisory Council to the Prime Minister (EAC-PM), has said that in the coming years, the government should support job-creating labour-intensive sectors and frontier industries, and support to them should be well-designed, linked to clear goals, and reviewed regularly. 

India's pharma exports remain resilient in H1 FY27 with growth of 5%: The Pharmexcil in its latest data report has showed that India's pharmaceutical export sector maintained its growth momentum in H1 FY27, with overseas shipments rising nearly 5 per cent year-on-year to $16.13 billion from $15.38 billion in the same period last fiscal year.

Global front: European markets were trading mostly in green as preliminary estimates showed the GDP in the Eurozone expanded 1.3% year-on-year in Q3 2026, the most in over a year, following a 1.2% rise in Q2 and compared to forecasts of 1.1%.  Asian markets settled mostly lower with tech and semiconductor shares falling amid ongoing AI-related concerns. 

Finally, the BSE Sensex rose 308.49 points or 0.42% to 74,459.53 and the CNX Nifty was up by 116.35 points or 0.51% to 23,053.10. 

The BSE Sensex touched high and low of 74,742.59 and 74,082.03, respectively. There were 18 stocks advancing against 12 stocks declining on the index. 

The top gaining sectoral indices on the BSE were IT up by 1.53%, TECK up by 1.09%, Healthcare up by 0.95% and Utilities up by 0.25%, while Capital Goods down by 2.05%, Telecom down by 1.92%, Industrials down by 1.72%, PSU down by 1.01% and Realty down by 0.94% were the top losing indices on BSE.

The top gainers on the Sensex were Trent up by 5.88%, Interglobe Aviation up by 3.42%, Infosys up by 3.31%, Sun Pharma up by 2.60% and NTPC up by 2.23%. On the flip side, State Bank of India down by 2.02%, Mahindra & Mahindra down by 1.78%, Axis Bank down by 1.25%, Ultratech Cement down by 1.17% and Bharat Electronics down by 1.06% were the top losers.

Meanwhile, despite persistent geopolitical frictions, the Finance Ministry, in its October Monthly Economic Review, has said that India’s economic activity continued to expand in the July-September quarter (Q2) of the current fiscal year 2026-27 (FY27), with GDP growth estimated at 7.35 per cent, following stronger-than-expected real GDP growth of 7.8 per cent in Q1 FY27. It said domestic demand, investment activity and structural reforms are expected to support growth through the remainder of the year. Recent GST process reforms are also expected to ease compliance requirements and working capital constraints for businesses. Healthy credit growth and recent trade agreements are likely to provide additional support to consumption, investment and exports.

Looking ahead, the Ministry said the near-term industrial outlook remains supported by firm production, strengthening order flows, improving manufacturing sentiment and robust industrial credit growth. The RBI’s October assessment also noted that strong capacity utilisation, healthy credit flows and the government’s continued focus on infrastructure development are expected to sustain investment activity. However, uncertainty surrounding energy prices, supply-chain pressures and geopolitical developments remains a concern for manufacturing costs and investment decisions. Sustaining industrial momentum while translating policy support into higher production at scale, greater domestic value addition and stronger export competitiveness will therefore remain important.

The Ministry said near-term inflation dynamics will be shaped by a combination of domestic food supply management, global energy price volatility and systemic liquidity conditions. On the food front, supply-side interventions, including the release of Kharif onions through the 'Kanda Express', stockholding limits on sugar dealers and cuts in Basic Customs Duty (BCD) on crude edible oils, are expected to ease price pressures on key kitchen staples.

However, downside risks persist from an intensifying El Nino event, which could threaten soil moisture levels during the upcoming Rabi sowing season, as well as demand-side pressures during the festive period. On the external front, elevated crude oil prices and maritime freight disruptions along West Asian transit routes pose continued upside risks to input costs. However, recent RBI measures to provide direct dollar liquidity to public-sector oil marketing companies (OMCs) and curb currency speculation could help contain excessive exchange-rate volatility and mitigate imported inflation.

CNX Nifty touched high and low of 23,118.10 and 22,905.10, respectively. There were 29 stocks advancing against 21 stocks declining on the index.    

The top gainers on Nifty were Trent up by 5.44%, Interglobe Aviation up by 4.33%, Infosys up by 3.36%, Apollo Hospital up by 3.02% and Power Grid up by 1.92%. On the flip side, Shriram Finance down by 2.13%, Nestle India down by 1.82%, Mahindra & Mahindra down by 1.72%, JIO Financial Services down by 1.21% and Adani Ports &SEZ down by 1.18% were the top losers.

European markets were trading mostly in green; UK’s FTSE 100 increased 21.67 points or 0.2% to 10,743.74 and France’s CAC rose 8.9 points or 0.11% to 7,978.90, while Germany’s DAX lost 148.78 points or 0.57% to 25,890.90. 

Asian markets settled mostly lower on Friday, driven by a massive global selloff in artificial intelligence and technology shares that rattled investor confidence after Google parent Alphabet burnt through cash last quarter, Amazon signalled higher capital expenditures next year atop an already huge amount in 2026, and Intel warned about a faltering PC market. Market sentiment weakened further, mirroring Wall Street's fall overnight. South Korea’s Kospi tumbled after Samsung Electronics and SK Hynix faced heavy selling pressure amid artificial intelligence-linked woes. Japanese markets slumped as the yen strengthened after the Bank of Japan held rates steady at 1.25%, in line with market expectations. In contrast, Hong Kong markets bucked the trend and gained, rebounding ahead of the Global Financial Leaders’ Investment Summit opening next week.

Asian Indices

Last Trade            

Change in Points

Change in %      

Shanghai Composite

3,599.02

-52.42 

-1.44

Hang Seng

23,294.42

335.77

1.46

Jakarta Composite

5,057.05

-41.01

-0.81

KLSE Composite

1,615.60

4.44

0.28

Nikkei 225

63,290.11

-1,369.36

-2.12

Straits Times

5,376.74

-19.29

-0.36

KOSPI Composite

5,730.74

-206.92

-3.48

Taiwan Weighted

45,211.83

-1,156.50

-2.49
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