After a six-day winning streak, the Indian benchmark indices — Sensex and Nifty — witnessed profit booking on Friday. A key concern remains over trade negotiations, and a rise in crude oil prices.
The Sensex declined 344.52 points, or 0.41 per cent, and closed at 84,211.88, while the Nifty 50 gave away 96 points, or 0.37 per cent, and halted at 25,795.15.
Except for the Nifty Metal and Nifty Realty Index, all major secoral indices ended lower on Friday’s session.
In addition, Nifty PSU, Nifty Private Bank and Nifty FMCG (after the result of Hindustan Unilever), declined and witnessed profit booking.
According to a Senior analyst, after the recent one way rally, some profit booking in heavyweights along with with declines in FMCG majors post-earnings, weighed on sentiment.
Major Events for this Week
US Fed meet
According to Experts, the Federal Reserve’s policy committee is expected to meet on October 28 and 29 wherein it is widely anticipated to reduce the Central Bank’s interest rate and ease borrowing costs.
Q2 Earnings FY26
With several major companies scheduled to release their financial results in the coming week/s this will certainly lead the market direction.
Companies like Kotak Mahindra Bank, IOC, TVS Motor Company, Larsen & Toubro, Hindustan Petroleum, ITC, Bharat Electronics, Dabur India, Maruti Suzuki India, ACC will be coming out with their results and updates. These results along with the management outlook will determine the course of market trend.
Trade Deal
According to some reports, India and USA will working actively to finalise the trade deal, with both nations coming to an understanding on key issues.
However, the Trade Mininster Piyush Goyal in an event clearly stated that trade deal cannot be done under Gun Point, and that India will always work with national interest in mind.
Gold prices
After a nine week upward trajectory, Gold and silver saw a historic fall this week, falling over more than 5% in a single trading session.
On the Multi Commodity Exchange (MCX), Gold December futures closed at ₹1,23,451 per 10 grams on Friday.
Disclaimer: This analysis is for informational and educational purposes only and do not constitute investment advice. Please consult with certified professionals before making any investment decisions.
