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Informist, Friday, Oct. 3, 2025

 

By Simran Rede

 

MUMBAI – Indian headline indices are expected to continue their northward journey next week as the Nifty 50 managed to close to over 24800 points, which was seen as a crucial level for the index to gain momentum. However, global concerns such as uncertainty over a US-India trade deal, fears over a potential US government shutdown, with funding deadlines unmet, potentially disrupting services, furloughing workers, and delaying economic data releases, may continue to cap the gains in the market in the coming sessions, analysts said.

 

The Nifty 50 closed at 24894.25 points, up 57.95 points, or 0.2%. The index extended gains for the second session, after closing in the red for eight sessions before that. The BSE Sensex settled 0.3% higher at 81207.17 points, up 223.86 points, or 0.3%. Technical analysts expect the Nifty 50 to test 25000–25150 points next week and find support at 24750–24600 points. The outlook on the market remains bullish after the Nifty 50 closed above a psychologically crucial level.

 

The market sentiment turned positive following better-than-expected regulatory measures by the Reserve Bank of India, along with its dovish stance despite no rate cut in the current meeting, above normal monsoon, and festive demand recovery, analysts said. Additionally, market participants now await the September quarter corporate earnings, starting Thursday with information technology bellwether Tata Consultancy Services declaring its quarterly results.

 

"Moreover, the recent tariff hikes may negatively impact corporate earnings in Q3, compounded by slowing labor market, inflationary pressures, and elevated stock valuations compared to historical norms and the market concentration risks," IDBI Securities said.

 

While Kotak Institutional Equities expects the IT firms to report steadier growth in the reporting quarter, Nomura Global Markets Research has cut its forecast for revenue growth in dollar terms for companies under its coverage. Kotak projects a 0.2-6% sequential growth across companies and Nomura has trimmed the estimate by 50–450 basis points for 2026-27 (Apr-Mar). This builds in higher deflation in renewals due to artificial intelligence-led productivity gains, the brokerage said. Kotak believes that the rupee depreciation, combined with cost measures, will ensure steady margins.

 

Nomura expects Infosys to retain its guidance of 1–3% on-year growth in constant currency terms, but Kotak expects it to raise its revenue growth guidance to 2-3% from 1-3?rlier. Kotak said it does not include the recently acquired Versent Group. Both the brokerages project HCL Technologies to retain its guidance of 3–5% revenue growth on year in constant currency terms for FY26. 

 

Nomura expects Wipro's guidance at -1% to +1% sequential revenue growth in constant currency terms for the December quarter, while Kotak sees it at the midpoint of -0.5% to +1.5%. 

 

Consumer-facing stocks are seen in a relatively better position due to the recent stimulus by the policymakers, in terms of interest rate and goods and services tax cuts, ICICI Securities said in a strategy report. The bigger positive impact would be for the cyclical discretionary consumption space, while it could have a limited impact on price-inelastic low-end mass consumption staples categories, the report said.

 

Fast-moving consumer goods major Marico Friday said its consolidated revenue growth is expected to touch thirties in the September quarter on a year-on-year basis on the back of pricing interventions and mix improvement. The company expects modest operating profit growth on year, as it extended discounts on pipeline inventory to channel partners during the two weeks leading up to the effective date of the GST rate rationalisation. 

 

Most companies have started giving their provisional numbers that will help to gauge the September quarter earnings. Adani Ports and Special Economic Zone handled cargo volume of 41.6 million tonnes in September, up 11% on year, led by a 14% on-year growth in containers volume. Mahindra & Mahindra Financial Services said its overall disbursements in Jul-Sept are expected to have risen 3% on year to INR 135.00 billion. Union Bank of India's global advances were up 5.0% on year at INR 9.75 trillion as on Sept. 30 and its total global deposits were sluggish, rising 1.9% on year to INR 12.35 trillion as at the end of September.  End

 

Edited by Deepshikha Bhardwaj

 

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