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Informist, Thursday, Oct. 23, 2025

 

By Akash Mandal

 

MUMBAI – Benchmark indices are likely to inch upward in the near term and there is a strong chance for the Nifty 50 to hit a fresh high, with a trade deal announcement between India and the US expected to be the key trigger. Any consolidation, such as the one seen in the latter half of Thursday, will provide opportunity for further gains, analysts said. Corporate earnings will also be in focus Friday, with Dr. Reddy's Laboratories and SBI Life Insurance Co. both slated to release their September quarter earnings during the day. 

 

The Nifty 50 index is expected to reach the 26300-point levels in the near term following a technical breakout from a six-month long consolidation phase, said Vipin Kumar, assistant vice-president of derivatives and technical at Globe Capital Market. "Going ahead, we continue to maintain our buy on dips trading approach till it is holding above 25600 spot levels on closing basis," Kumar said. "Bias remains positive...any consolidation, if occurs, will strengthen the bullish trend," he added. 

 

Shrikant Chouhan, head of equity research at Kotak Securities, also highlighted some consolidation in the next couple of sessions. "...on the daily charts, a bearish candle has formed, indicating temporary weakness...however, the short-term market outlook remains positive," Chouhan said in a note.

 

On Thursday, the Nifty 50 closed at 25891.40 points, up 22.80 points or 0.1%. The index had managed to breach the 26100 level, before settling off highs due to profit booking. The BSE Sensex closed at 84556.40 points, up 130.06 points or 0.2%.

 

The market was Thursday buoyed by a trade deal between India and the US looking imminent. Reports said that India and the US were close to sealing a trade pact focusing on energy and agriculture that could reduce US tariffs on Indian exports to around 15-16% from the current 50%. The agreement is expected to be announced during the upcoming Association of Southeast Asian Nations summit later this month, which could be a big trigger for the market, analysts said. 

 

Dr. Reddy's and SBI Life Insurance are the two Nifty 50 companies scheduled to report their quarterly earnings Friday. Dr. Reddy's is projected to report growth of nearly 11% on year in consolidated net profit for the September quarter due to solid growth in the nicotine replacement therapy portfolio in Europe and steady momentum in India sales. For SBI Life, Motilal Oswal Financial Services sees a 16% rise in net premium income but just a 3% rise in profits. The brokerage expects the company's value of new business to grow in single digits during the reporting quarter.  End

 

Edited by Akul Nishant Akhoury

 

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