Diwali Picks Are Here! Nifty Rallies 1.68% Ahead of Festive Week

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Markets ended higher for the third straight week, with Nifty surging 1.68% — its strongest weekly gain in four months — amid a news-heavy week for global markets.

Here's our take on this week gone by, some stories you might have missed out on and our thoughts on what to do going ahead, in your weekly report.

Keep Calm & Carry On

  • Indian indices climbed about 1.7% during a week marked by heightened global volatility. Domestic equities extended their strong recovery rally, supported by positive global cues and renewed optimism around India–US trade talks.
  • Within the broader market, the BSE Large-Cap Index rose 1.5%, while the BSE Mid-Cap Index remained largely flat. In contrast, the BSE Small-Cap Index slipped 0.6%.
  • The India VIX surged 15% over the week, reflecting growing investor unease both domestically and globally.

The Big Stories

  • At home, the spotlight remained on the earnings season build-up, a slowdown in FII outflows, steady DII support and a sharp rebound in the Rupee — which logged its strongest weekly gain against the dollar since late June.
  • Globally, volatility spiked after the Trump administration unveiled yet another round of trade tariffs on China, reigniting trade tensions and unsettling markets worldwide.

The Winners

  • Nestlé India emerged as the standout performer of the week, rallying 7.5% on the back of strong quarterly earnings and upbeat investor sentiment.
  • Asian Paints followed closely, climbing 7.2% after the board approved plans to set up a new commercial facility in Dubai. The decline in crude oil prices — a key input cost for paint manufacturers — further fuelled the rally.

The Losers

  • Infosys led the laggards, slipping 4.9% despite reporting strong quarterly results. The decline was driven by concerns over a global slowdown in IT spending and muted revenue growth.
  • Tata Motors fell 3.2% as post-demerger volatility unsettled retail investors, leading to profit-taking and uncertainty around the stock’s near-term trajectory.

Meanwhile…

  • At home, unemployment edged up to 5.3%, driven largely by sharper job losses among women. Youth unemployment also remains persistently high.
  • Overseas, several major banking stocks in the US and Europe fell sharply amid rising concerns over exposure to deteriorating credit assets.

Market Brief

Key Indices
Sector Performance
Stock Performance
FII / DII Data

Market Outlook

Sectors To Watch

Hindustan Unilever, Tata Consumer Products, Prestige Estates Projects, Cipla, Aster DM Healthcare

Our Take

  • With global headlines and quarterly earnings in focus, markets may take a breather to take stock of the evolving landscape.
  • The upcoming week will be a shortened one due to Diwali holidays. Investors are likely to stay cautious ahead of key data releases — including US inflation, employment figures and India’s PMI readings.
  • Overall, we expect Nifty to trade rangebound between 25,400 and 26,000, with sentiment remaining balanced heading into the festive week.
  • The Muhurat trading session will be held on Tuesday, October 21, between 1:30 PM and 2:45 PM.

✨ As we step into Samvat 2082, we wish all our readers a Happy Diwali — may this new year bring prosperity, good health and success in every trade!

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