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Informist, Friday, Oct. 10, 2025

By Gopika Balasubramanium

MUMBAI – Analysts continue to be bullish on the Indian stock market in the near-term. They expect market participants to largely track the September quarter earnings announcements which will gain momentum from next week. Some analysts expect the indices to consolidate in the near-term with more stock-specific reaction to results. Information technology stocks will likely be in focus as large-caps such as HCL Technologies, Infosys, Tech Mahindra will announce their results from Monday. Investors will also watch out for India's inflation data for September and US inflation number during the week.

On the global front, Israel and Hamas agreed on a ceasefire with displaced Palestinians heading back to Northern Gaza. As part of the first stage of the ceasefire agreement, Israeli forces have now retreated from certain areas of Gaza, reports said. The easing of geopolitical tensions may bring cheer to global markets, including India.

On Friday, the Nifty 50 closed at 25285.35 points, up 103.55 points or 0.4%. The 50-stock index closed above the resistance of 25200 points. The BSE Sensex closed at 82500.82 points, up 328.72 points or 0.4%. This week, the Nifty 50 and the BSE Sensex have gained 1.6% each.

Investors will watch out for three main cues next week, the Q2 (Jul-Sept) earnings global economic data--with the most crucial being US CPI, and if buying by foreign investors will sustain in the coming sessions, Bhavya Shah, technical analyst at StoxBox, said. Any signs of persistent inflation in the US could impact global sentiment and trigger volatility, he said.

"Given these factors, I expect the market to consolidate," Shah said. In the near-term, Shah sees the Nifty 50 move between 25000 points and 25450 points. A breach above or below this range will set the trend for the coming weeks, he added.

Analysts also said that profit-booking has been happening in select pockets. They also reiterated that the indices had fallen Wednesday on profit-booking when the Nifty 50 touched 25200-25250 points. "Whether this profit booking leads to a deeper correction will depend on the market's ability to hold its support levels," Shah said. The key support levels to be watched out for in the coming sessions is 25000-24850 points.

Information technology stocks will largely take cues from the September quarter earnings of large cap companies next week. On Monday, HCL Technologies will detail its earnings. Despite the uncertain macroeconomic environment in the US, broking firms expect the IT major to report a double-digit sequential growth in its bottom line for the quarter, outperforming most of its large-cap peers. At mid-single digit revenue growth, the company is expected to perform better than its peers due to new deal wins and deal ramp-ups in two verticals – banking, financial services, and insurance, and hi-tech, brokerages said in their pre-earnings reports.

HCL Tech's consolidated net profit is expected to grow almost 12% on quarter and its consolidated revenue is likely to rise 4% sequentially, according to an average of estimates by 14 broking firms. Its post-earnings virtual press conference is scheduled at 1800 IST and the investor call at 1930 IST. Market participants are likely to monitor the management's comments on spending by US clients on IT, the deal pipeline, and US policies about visas and trade. On Friday, the company's shares ended at INR 1,495.50, up 0.6%.

On the data front, investors will eye domestic CPI print Monday. Consumer inflation in India is seen falling to the lowest level since June 2017. The CPI inflation is seen softening to 1.5% in September, as per an Informist poll of 15 economists. This is largely because of the statistical effect of a high base and lower food prices, economists said. CPI inflation was 2.07% in August and 5.49% in September last year.

US inflation for September is due Wednesday. Since the federal government has shut down, there is uncertainty whether the data will be released or not. However, The New York Times late Thursday said that the inflation report will be released despite shut down. The Bureau of Labor Statistics is calling back a limited number of workers to help release consumer price data for September, despite the federal government shutdown, the New York Times reported citing administration sources familiar with the development.  End

Edited by Ashish Shirke

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