Domestic equity benchmarks ended the week on a strong note, buoyed by upbeat corporate updates and growing optimism ahead of the Q2 earnings season. Positive global cues and improved investor sentiment also supported the rally. The broader market participated in the uptrend, with mid-cap indices registering gains, while small-caps remained largely flat. Leading companies such as TCS, HDFC Bank, and Titan reported steady performance, although some names like Tata Motors and 5paisa Capital, came under pressure following weaker earnings and business updates.
In the week ended on Friday, 10 October 2025, the S&P BSE Sensex surged 1,293.65 points or 1.59% to settle at 82,500.82. The Nifty 50 index jumped 391.1 points or 1.57% to settle at 25,285.35. The BSE Mid-Cap index added 1.49% to close at 46,362.29. The BSE Small-Cap index was flat end at 53,378.57.
Weekly Index Movement:
The headline equity indices ended with strong gains on Monday as investors tracked quarterly business updates from corporates. The S&P BSE Sensex jumped 582.95 points or 0.72% to 81,790.12. The Nifty 50 index gained 183.40 points or 0.74% to 25,077.65. In three consecutive trading sessions, the Sensex and Nifty jumped 1.9%, respectively.
The domestic equity indices ended with minor gains on Tuesday, extending their winning run for the fourth consecutive session. Market sentiment stayed positive, aided by the central bank’s recent decision to lower its FY26 inflation forecast and raise its GDP growth projection. The barometer index, the S&P BSE Sensex jumped 136.63 points or 0.17% to 81,926.75. The Nifty 50 index gained 30.65 points or 0.12% to 25,108.30. In four consecutive trading sessions, the Sensex and Nifty jumped 2.07% and 2.02%, respectively.
The key equity indices closed with minor losses on Wednesday, snapping their four-day winning streak. Investors remained cautious ahead of the Q2 earnings season, with TCS set to kick off the earnings season on 9 October 2025. In the barometer index, the S&P BSE Sensex declined 153.09 points or 0.19% to 81,773.66. The Nifty 50 index fell 62.15 points or 0.25% to 25,046.15. In four consecutive trading sessions, the Sensex and Nifty jumped 2.07% and 2.02%, respectively.
Equity benchmarks ended sharply higher on Thursday as optimism built up ahead of TCS' Q2 results. The S&P BSE Sensex advanced 398.44 points or 0.49% to 82,17210. The Nifty 50 index added 135.65 points or 0.54% to 25,181.80.
Benchmark indices ended sharply higher on Friday, extending gains for the second straight session. Sentiment improved on the back of renewed foreign portfolio investor (FPI) inflows seen over the past three days, while optimism ahead of the quarterly earnings season further supported the rally. The S&P BSE Sensex, advanced 328.72 points or 0.40% to 82,500.82. The Nifty 50 index added 103.55 points or 0.41% to 25,285.35. In the two trading session, the Sensex and Nifty jumped 0.89% and 0.96%, respectively.
Economy:
The seasonally adjusted HSBC India Services PMI Business Activity Index stood at 60.9 in September 2025 as against 62.9 in August, however, the latest figure showed a loss of growth momentum.
The HSBC India Composite PMI Output Index slipped from 63.2 in August to 61.0, indicating the weakest rate of expansion since June. India's private sector continued to experience robust growth, but there were softer increases in new orders, international sales, business activity and employment during September.
Stocks in Spotlight:
HDFC Bank added 1.67%. The bank announced its financial performance for the quarter ended 30 September 2025, reporting steady growth in advances and deposits. The bank’s average advances under management (including inter-bank participation certificates, bills rediscounted, and securitisation/assignment) stood at Rs 27,94,600 crore for the September 2025 quarter, up approximately 9% from Rs 25,63,900 crore in the same quarter last year. This also marks a 1.9% increase over Rs 27,42,300 crore recorded in the June 2025 quarter.
Tata Consultancy Services (TCS) rallied 4.35%. The IT major reported a steady second quarter with revenue rising 3.7% sequentially to Rs 65,799 crore, translating to a 0.8% growth in constant currency terms. Operating margin improved 70 basis points to 25.2%, while net profit came in at Rs 12,904 crore, up 8.4% year-on-year, with a net margin of 19.6%. Cash flow from operations stood at 110.1% of net income. The company reported a total contract value (TCV) of US$10 billion for the quarter. It declared a dividend of Rs 11 per share, with October 15, 2025, as the record date and November 4, 2025, as the payment date.
Tata Motors fell 5.16%. The company said that Jaguar Land Rover Automotive plc (JLR) has recorded wholesale volumes of 66,165 units in the second quarter of FY26, down 24.2% year-on-year (YoY) and down 24.2% compared to Q1 FY26. JLR stated that volumes had reduced during a challenging quarter, reflecting production stoppages since the start of September resulting from the cyber incident, the planned wind down of legacy Jaguar models ahead of the launch of new Jaguar and incremental US tariffs impacting JLR’s US exports.
Titan Company advanced 2.32%. The company’s consumer businesses grew 20% year-on-year (YoY) in Q2 FY26. During the quarter, the company added 55 new stores, taking its total retail network to 3,377 stores, including 3,345 domestic stores.
Tata Steel added 0.34%. The company’s India crude steel production surged 7% to 5.67 million tons in Q2 FY26 compared with 5.28 million tons in Q2 FY25. The growth was driven by the normalisation of operations following the completion of the relining of the G Blast Furnace at Jamshedpur. On a half-year basis, production increased 3% YoY to 10.9 million tons.
Tata Elxsi rose 0.95%. The company reported 32.52% decline in net profit to Rs 154.81 crore as revenue from operations fell by 3.87% to Rs 918.10 crore in Q2 FY26 as compared with Q2 FY25.
5paisa Capital tumbled 7.57%. The company reported a 56.71% decline in consolidated net profit to Rs 9.48 crore for the quarter ended 30 September 2025, compared to Rs 21.90 crore in the same quarter last year. Total income fell 23.35% YoY to Rs 77.30 crore in the quarter ended 30 September 2025.
G M Breweries soared 22.16%. The company reported a 61% surge in standalone net profit of Rs 34.89 crore in Q2 FY26, compared to Rs 21.67 crore posted in Q2 FY25. Revenue from operations (excluding excise duty) increased 21.15% YoY to Rs 180.52 crore for the quarter ended 30 June 2025.
Ujjivan Small Finance Bank rose 1.03%. The small finance bank said that its total deposits climbed 14.8% year-on-year and 1.2% sequentially to Rs 39,101 crore, supported by a sharp 22.1% rise in CASA deposits to Rs 10,782 crore. Consequently, the CASA ratio improved to 27.6% from 25.9% a year ago, reflecting stronger retail traction. The credit-to-deposit ratio inched up to 88% in September 2025, compared with 87% in September 2024 and 86% in June 2025.
Bank of Maharashtra gained 1.87%. The bank reported a 12.13% year-on-year (YoY) increase in total deposits to Rs 3,09,800 crore as of 30th September 2025, compared with Rs 2,76,289 crore as of 30th September 2024.
Bandhan Bank advanced 2.04%. The bank has reported 7.2% rise in loans & advances to Rs 140,062 crore as on 30 September 2025 from Rs 130,649 crore as on 30 September 2024.
Bank of India added 0.95%. The bank’s global business surged 11.80% YoY to Rs 15,61,888 crore Q2 FY26, up from Rs 13,97,100 crore in the same quarter last year. On the domestic front, total deposits rose 8.53% to Rs 7,30,097 crore, while retail term deposits showed strong momentum, rising 14.15% to Rs 3,45,026 crore in Q2 FY26. Domestic gross advances also saw robust growth of 14.62%, reaching Rs 5,96,794 crore in Q2 FY26, up from Rs 5,20,653 crore in the same quarter last year.
Dabur India declined 1.29%. The company said that for Q2 FY26, it expects the consolidated revenue to grow in the mid-single digits and operating profit to grow almost in line with revenue. Following the GST rate reduction announcement, trade witnessed temporary disruption as consumers deferred purchase to benefit from lower MRPs. Distributors and retailers also focused on liquidating the existing higher-priced inventory. This resulted in a short-term moderation in sales during the month of September and, consequently, in Q2 FY26.
Godrej Consumer Products (GCPL) fell 1.67%. The company has projected mid-single digit consolidated revenue growth for the quarter, despite short-term challenges arising from recent GST reforms. Nearly one-third of GCPL’s portfolio—primarily toilet soaps along with smaller categories such as talcum powders, shampoos, and shaving creams—now benefits from a reduced GST rate of 5%, down from around 18%.
Global Markets:
The World Bank projected China’s economy to expand by 4.8%, compared with 4% predicted in April. The new forecast is closer to China’s official target of around 5% growth in gross domestic product in 2025.
A decline in China’s GDP by 1 percentage point lowers growth in the rest of developing East Asia and Pacific by 0.3 percentage points, according to World Bank estimates. With the China GDP upgrade, the region is expected to expand by 4.8% this year, versus 4% forecast earlier this year, according to the World Bank.
Beijing announced new restrictions on the export of rare earth minerals and equipment that have been a sticking point in trade talks with the United States.
At the start of the week, France’s Prime Minister Sebastien Lecornu resigned from his position just weeks after being appointed, creating a new political crisis in the country.
European Union announced plans on Tuesday to reduce tariff-free quotas on imported steel, and to hike tariffs from 25% to 50% on any excess imports.