More Stories

Informist, Friday, Oct. 17, 2025

By Gopika Balasubramanium

MUMBAI – Analysts are bullish on Indian stock market and most expect the gains in the market to sustain going forward. However, analysts also said investors reacting to the September quarter earnings of index heavyweights such as HDFC Bank, ICICI Bank, and Reliance Industries will impact the current rally of the Nifty 50. The three constituents together have a weightage of 30% on the 50-stock index. The expiry of weekly derivatives contracts of Nifty 50 will take place on Monday as on Tuesday, regular trading is closed on account of Diwali Laxmi Pujan.

Tuesday, exchanges will hold the Diwali 'Muhurat Trading' session for capital market and futures and options segments for an hour. The pre-open session for trading in capital market will start at 1330 IST and the special live trading session will begin at 1345 IST and end at 1445 IST, the National Stock Exchange had said in a circular dated Sept. 22. Diwali day marks the start of the new Samvat year (the Hindu calendar year) and is traditionally used by the trading community for long-term investments.  

Most analysts expect gains in the benchmark indices to sustain as domestic macroeconomic factors continue to be strong with falling inflation and Reserve Bank of India indicating that there is more space for monetary policy easing in the coming months. Analysts also noted that the second quarter earnings picked up and companies are positive on strong growth in earnings in the December quarter. Strengthening of rupee against the greenback is also seen as a positive. Some analysts said in a long-term perspective the Indian currency will appreciate and the dollar will be weak due to mounting US debt. Falling crude oil prices have also boosted the market sentiment. 

"Next week, Indian markets would be in a festive mood amid a truncated trading week on account of Diwali," said Siddhartha Khemka, head of research - wealth management at Motilal Oswal Financial Services Ltd., in a note. "Overall, we expect market to continue its up-move, supported by healthy Q2 (Jul-Sept) earnings so far, robust festive demand, optimism over a potential India–US trade deal and renewed FII (foreign institutional investors) buying in recent sessions," he added.

Friday, the Nifty 50 closed 0.5% higher at 25709.85 points, a level last seen on Oct. 1, 2024. The index is now just 567 points away from the record high of 26277.35 points it hit in September last year. The BSE Sensex closed at 83952.19 points, up 484.53 points or 0.6%.    

"In next 3-4 months, the Nifty (50) is seen rising to 27000 points," a senior technical analyst at a non-banking financial company-owned brokerage said. "There are expectations that Q3 (Oct-Dec) numbers to be good, and the rise in Nifty 50 will likely be led by metals, automobile, and realty," the analyst added. "Next week, the Nifty 50 can go to 26000 (points)," he said. Technical analysts expect the index to find immediate support at 25550-25350 points and face resistance at 25850-26000 points. Some analysts said the traders would like to have a 'buy on dips' approach. 

Monday, investors will react to earnings of Reliance Industries due later in the day. RIL is expected to psot a double-digit year-on-year growth in its net profit for the quarter, primarily driven by the strong performance of its telecommunications, retail, and oil-to-chemicals segments, despite a weak show by its upstream oil business, according to brokerages. RIL's shares closed at INR 1,416.80, up 1.3%. ICICI Bank and HDFC Bank will declare their results on Saturday, along with cement major UltraTech Cement.

ICICI Bank is expected to see a humble on-year rise in its bottom line for the quarter, similar to its industry peers, on subdued profitability from margin compression, muted loan growth, and lack of significant contribution from treasury income. The bank's shares ended 1.4% higher at INR 1,436.60. While, HDFC Bank is expected to outperform its peers and be an outlier to the industry-wide trend. The private sector bank's stock closed at INR 1,002.55, up 0.8%. 

Investors will also keep an eye on further updates on India and US trade negotiations. India has rejected US President Donald Trump's claim that Prime Minister Modi allegedly assured him that India would not buy oil from Russia. However, Trump's comments had cheered market which is suggestive of an improvement in trade talks between both the countries.  End

Edited by Akul Nishant Akhoury

For users of real-time market data terminals, Informist news is available exclusively on the NSE Cogencis WorkStation.

Cogencis news is now Informist news. This follows the acquisition of Cogencis Information Services Ltd. by NSE Data & Analytics Ltd., a 100% subsidiary of the National Stock Exchange of India Ltd. As a part of the transaction, the news department of Cogencis has been sold to Informist Media Pvt. Ltd.

Informist Media Tel +91 (22) 6985-4000

Send comments to feedback@informistmedia.com

© Informist Media Pvt. Ltd. 2025. All rights reserved.