The key domestic indices ended with moderate losses amid weak global cues. Investors’ sentiment remained cautious due to uncertainty surrounding US-China trade talks and the US Federal reserve’s policy trajectory. However, traders will focus on the upcoming Q2 results from Bharati Airtel, Tata Consumer Products, Adani Ports, Adani Enterprises, Ambuja Cements etc, slated for next week. Attention will also remain on global market trends, crude oil movement, and macroeconomic data for cues.
In the week ended on Friday, 31 October 2025, the S&P BSE Sensex declined 273.17 points or 0.32% to settle at 83,938.71. The Nifty 50 index fell 73.05 points or 0.28% to settle at 25,722.10. The BSE Mid-Cap index rose 0.96% to close at 47,044.59. The BSE Small-Cap added 0.67% to end at 53,876.14.
Weekly Index Movement:
Domestic equities ended sharply higher on Monday as upbeat quarterly earnings and global cues lifted investor sentiment. The S&P BSE Sensex advanced 566.96 points or 0.67% to 84,788.84. The Nifty 50 index added 170.90 points or 0.66% to 25,966.05.
The headline equity benchmarks ended slightly lower on Tuesday, weighed down by profit booking and weak global cues. Investor sentiment remained cautious amid mixed FII trends, updates on US-China trade relations, and a packed corporate earnings calendar. The S&P BSE Sensex declined 150.68 points or 0.18% to 84,628.16. The Nifty 50 index lost 29.85 points or 0.11% to 25,936.20.
The headline equity benchmarks closed with modest gains on Wednesday, lifted by upbeat global cues. The S&P BSE Sensex, surged 368.97 points or 0.44% to 84,997.13. The Nifty 50 index added 117.70 points or 0.45% to 26,053.90.
The domestic equity benchmarks ended lower on Thursday, mirroring weak global sentiment after the U.S. Federal Reserve cut interest rates as expected but hinted that it could be the last reduction for 2025. The S&P BSE Sensex tumbled 592.67 points or 0.70% to 84,404.46. The Nifty 50 index fell 176.05 points or 0.68% to 25,877.85.
The domestic equity benchmarks ended with significant losses Friday, declining for second day in a row as investors booked profits amid a cautious global outlook and renewed concerns over the US Federal Reserve’s policy trajectory. The barometer index, the S&P BSE Sensex tumbled 465.75 points or 0.55% to 83,938.71. The Nifty 50 index fell 155.75 points or 0.60% to 25,722.10. In two consecutive trading sessions, the Sensex declined 0.55% while the Nifty fell 0.60%.
US-China Trade Talk:
U.S. President Donald Trump hailed his meeting with Chinese President Xi Jinping on Thursday (30 October 2025) as a “roaring success,” announcing that the U.S. would reduce tariffs on Chinese goods while Beijing agreed to resume exports of rare earth elements and purchase American soybeans.
Trump also said tariffs on fentanyl-related products from China would be lowered from 20% to 10%, bringing the overall average tariff rate on Chinese imports down from 57% to 47%.
He added that discussions included the potential export of advanced computer chips to China, with Nvidia expected to hold talks with Chinese officials. Trump said he could sign a trade deal with China “pretty soon.”
Despite the upbeat tone, investors remained cautious, citing a lack of concrete details and Trump’s history of shifting rhetoric on China as reasons for uncertainty.
Economy:
India’s foreign exchange reserves rose by $4.496 billion to $702.28 billion for the week ending 17 October, mainly driven by an increase in the value of gold reserves, the Reserve Bank of India (RBI) said on Friday. Meanwhile, the value of gold reserves rose sharply by $6.181 billion to $108.546 billion during the week.
India’s reserve position with the International Monetary Fund (IMF) fell by $30 million to $4.602 billion in the reporting week, according to RBI data.
India's Index of industrial production recorded a growth of 4% in September 2025 compared to September 2024. The growth rates of the three sectors, Mining, Manufacturing and Electricity for the month of September 2025 are - 0.4%, 4.8% and 3.1% respectively. India's industrial production growth has eased marginally in September compared to 4.1% in August.
Stocks in Spotlight:
Kotak Mahindra Bank slipped 3.79%. The bank’s standalone net profit slipped 2.70% to Rs 3,253.33 crore in Q2 FY26 as against Rs 3,343.72 crore posted in Q2 FY25. However, total income rose 2.12% year on year (YoY) to Rs 16,238.59 crore in Q2 FY26.
Coforge advanced 1.50%. The company has reported an 18.4% rise in consolidated net profit to Rs 375.8 crore on an 8.05% increase in revenue to Rs 3,985.7 crore in Q2 FY26 as compared with Q1 FY26
Varun Beverages rose 1.89%. The company’s consolidated net profit rose 18.5% year-on-year to Rs 745.19 crore in Q3 calendar year (CY) 2025, compared with Rs 628.83 crore in Q3 CY2024, driven by lower finance costs, favourable currency movements in overseas markets, and higher other income. Revenue from operations (net of excise and GST) increased 1.9% YoY to Rs 4,896.65 crore from Rs 4,804.68 crore in Q3 CY2024.
Further, the company has amended its Memorandum of Association to include the manufacture and distribution of alcoholic beverages, including beer, wine, whisky, brandy, gin, rum, and vodka, in both India and international markets. The company said it aims to tap into the growing demand for ready-to-drink (RTD) and premium alcoholic beverages, which offer strong long-term growth potential.
Tata Capital rose 1%. The company’s consolidated net profit increased 2% to Rs 1,097.32 crore on 7.8% jump in total income to Rs 7,753.17 crore in Q2 FY26 over Q2 FY25.
Suraj Estate Developers rallied 5.49%. The company’s net profit rose 4% year-on-year to Rs 33.1 crore in Q2 FY26 from Rs 31.8 crore in Q2 FY25. Sequentially, profit jumped 56% from Rs 21.3 crore in Q1 FY26. Revenue from operations stood at Rs 144.6 crore, up 33% YoY from Rs 109.1 crore in Q2 FY25 and up 9% sequentially from Rs 132.5 crore in Q1 FY26.
Shree Cement declined 1.29%. The company’s consolidated net profit surged 303.6% to Rs 308.51 crore in Q2 FY26 from Rs 76.44 crore posted in Q2 FY25. Net sales jumped 17.4% YoY to Rs 4,761.07 crore in Q2 FY26.
Vedanta declined 0.42%. The diversified natural resources company reported mixed financial results for the September 2025 quarter. The company’s consolidated revenue rose 6% YoY to Rs 39,218 crore in Q2 FY26, up from Rs 37,171 crore in Q2 FY25, driven by higher LME prices, improved premiums, and forex gains, partially offset by lower volumes.
Global market:
The European Central Bank (ECB) kept its key deposit rate at 2% despite annual price growth rising to 2.2% across the 20-member euro bloc in September, up from 2% in August and 1.7% a year earlier.
In South Korea, third-quarter GDP rose 1.7% year-on-year, surpassing expectations of 1.5% and marking the strongest growth in over a year. The expansion was led by higher exports and manufacturing output, which climbed 6% and 3.3%, respectively.
Japan’s central bank kept its benchmark interest rate unchanged at 0.5% in its first policy meeting after Sanae Takaichi assumed office as prime minister earlier this month.
The US Fed on Wednesday slashed the benchmark federal funds rate by 25 basis points, as expected, to bring it to 3.75%-4%.
The U.S. consumer price index (CPI) rose 0.3% in September, pushing the annual inflation rate to 3%, a 0.1 percentage point increase from August. Core CPI, excluding food and energy, rose 0.2% for the month and 3% annually, compared with 0.3% monthly gains in July and August.