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WEEKLY REPORT
The Indian markets started the new Samvat on a positive note, with benchmarks hitting a fresh 52-week high during the week and extending the weekly gains for the fourth consecutive week for the first time in 2025, amid hopes of an India-US trade deal, FIIs turning buyers, and a decent set of Q2FY26 earnings.
For the week, the BSE Sensex index jumped 259.69 points or 0.30 percent to end at 84,211.88, and the Nifty50 rose 85.3 points or 0.33 percent to end at 25,795.15.
During the week, Reliance Industries added the most in terms of market value, followed by Tata Consultancy Services, Infosys, and State Bank of India. On the other hand, ICICI Bank, Hindustan Unilever, and Eternal lost a significant portion of their market capitalization.
Among sectors, the Nifty IT index gained 3%, the PSU Bank added 2%, the Nifty Metal index gained 1.5%, the Nifty Media index up 1.3%, the Nifty Oil & Gas index up 1%, while the Nifty FMCG and Auto indices were down 0.5% each.
Among the broader market indices, the BSE Large-cap index ended marginally higher, the BSE Mid-cap index and the Small-cap indices went up 0.5 percent and 1.0 percent this week.
The Foreign Institutional Investors (FIIs) turned net buyers for the week as they bought equities worth Rs 342.74 crore, while Domestic Institutional Investors (DIIs) continued their buying on the 27th week, as they purchased equities worth Rs 5945.31 crore.
The Indian rupee ended 12 paise higher at 87.85 per dollar on October 24 against the October 17 closing of 87.97. During the week, the Indian rupee traded in the range of 87.63-87.96.
ECONOMY
IMF Raises India’s FY26 Growth Forecast
According to the International Monetary Fund, India will remain one of the world’s fastest-growing large economies through 2025–26, with GDP expected to rise 6.6 percent, surpassing China’s projected growth of 4.8 percent. This adjustment reflects India’s robust first-quarter performance has more than offset the drag from higher US tariffs on Indian exports. The IMF attributes India’s resilience to strong domestic consumption, a revival in manufacturing, and expansion in the service sector.
Japan’s manufacturing sector faces a downturn
Japan’s manufacturing sector contracted in October at the fastest pace in 19 months due to a sharper decline in new orders. The S&P Global flash Japan Manufacturing Purchasing Managers’ Index (PMI) fell to 48.3 in October from a final reading of 48.5 in September, hitting the lowest since March 2024. It has remained below the 50.0 threshold that separates growth from contraction for four straight months. This decline was attributed to a sharp drop in new export orders, particularly from China and the United States, amid ongoing trade tensions.
STOCKS IN NEWS
Hindalco
Shares of the metal company Hindalco went up almost 6 percent this week as the global metal prices rallied after the White House confirmed on October 23 that US President Donald Trump will meet Chinese President Xi Jinping in South Korea on October 30 as part of the former’s trip to Asia.
Gokaldas export
Gokaldas Export shares went up 7.42 percent during the week after the rising hopes for India and the US reaching a trade deal. This would likely result in a reduction in tariffs levied on Indian exports to the US, benefitting the export-oriented sectors significantly.
Dixon Technologies
The shares went down 7.12 percent over the week after the company released its results for the second quarter of the financial year 2026. The stock dropped nearly 4 percent to trade at Rs 15,540 apiece on October 23.
ICICI Bank
The shares went down 2.14 percent this week after the private lender released its results for the second quarter of the financial year 2026, where the private lender reported a standalone net profit of Rs 12,358.9 crore for Q2 FY26. This marks a 5.2 percent year-on-year (YoY) rise from the Rs 11,745.9 crore net profit reported in the same period last year.
Source – Moneycontrol, Reuters