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Value buying, foreign fund inflows lift markets higher in passing week
Oct-30-2026

Indian equity benchmarks gained around 2% during passing week, supported by value buying following the previous week’s sharp sell-off. Gains in IT and pharma stocks, resilient corporate earnings and hopes of relief in Long-Term Capital Gains (LTCG) tax lifted sentiment. Foreign fund inflows also supported the domestic market sentiments. 

Some of the major developments during the week are:

India, US conclude most of discussions for proposed bilateral trade pact: Union Commerce Minister Piyush Goyal has said that most of the discussions between India and the US on the proposed bilateral trade deal have been completed, and the two sides are now fine-tuning the agreement.

Centre committed to fiscal consolidation: Highlighting the government’s aim to cap the national debt at 50% of GDP by 2030, Union Finance Minister Nirmala Sitharaman has reiterated the Centre’s commitment to fiscal consolidation, citing annual budgets as evidence of its efforts to rein in the fiscal deficit.

India on track to achieve $1 trillion exports target in FY27: Commerce Minister Piyush Goyal has expressed confidence that India is on track to achieve its ambitious $1 trillion exports target in FY27, despite geopolitical uncertainties and disruptions from West Asia crisis and Russia-Ukraine conflict.

India’s growth momentum holds firm, but inflation and external risks persist: Finance Ministry, in its October Monthly Economic Review, has said India’s economic activity continued to expand in Q2 FY27, with GDP growth estimated at 7.35%, following stronger-than-expected real GDP growth of 7.8% in Q1FY27.

India’s industrial growth slows down to 6.7% in September: The MoSPI in its quick estimates has shown that industrial growth, measured in IIP, slowed down to 6.7% for September 2026 from a revised growth of 7.8% in August 2026 as manufacturing growth eased and mining contracted sharply. 

BSE movement for the week

The Bombay Stock Exchange (BSE) Sensex surged 1335.70 points or 1.83% to 74,459.53 during the week ended October 30, 2026. On the sectoral front, S&P BSE Healthcare was up by 3,216.46 points or 6.85% to 50,168.37, S&P BSE Power was up by 260.15 points or 3.93% to 6,871.76, S&P BSE Realty was up by 237.69 points or 3.89% to 6,346.07, S&P BSE Consumer Discretionary Goods & Services was up by 265.21 points or 2.92% to 9,333.61 and S&P BSE Metal was up by 1,042.37 points or 2.84% to 37,765.54 were the top gainers.

NSE movement for the week

The Nifty surged 453.10 points or 2.00% to 23,053.10. On the National Stock Exchange (NSE), Bank Nifty was up by 399.60 points or 0.74% to 54,686.95, Nifty IT was up by 611.40 points or 1.91% to 32,606.90, Nifty Mid Cap 100 increased 1500.60 points or 2.69% to 57,301.25, and Nifty Next 50 gained 1880.50 points or 2.86% to 67,709.10.

FII transactions during the week

Foreign Institutional Investors (FIIs) were net buyers in equity segment in the week, with gross purchases of Rs 89,034.81 crore and gross sales of Rs 75,821.40 crore, leading to a net inflow of Rs 13,213.41 crore. They also stood as net buyers in the debt segment with gross purchases of Rs 11,683.22 crore against gross sales of Rs 9,539.91 crore, resulting in a net inflow of Rs 2,143.31 crore. In hybrid segment, FIIs stood as net sellers, with gross purchases of Rs 65.71 crore and gross sales of Rs 190.14 crore, leading to a net outflow of Rs 124.43 crore.

Industry and Economy

With an aim of deepening India-Mexico economic and trade relations, both countries have signed Terms of Reference (ToR) for negotiations on a Preferential Trade Agreement (PTA). The ToR establishes the framework, scope, modalities and roadmap for negotiations aimed at creating new economic opportunities for both countries. The signing formally launches negotiations for a mutually beneficial and balanced PTA, with the potential to expand bilateral trade, create business opportunities, enhance investment flows and contribute to resilient and diversified supply chains. Further, Commerce Secretary, Shri Rajesh Agrawal held discussions with Mexican delegations on bilateral relations and opportunities to expand trade and investment flows, during his Mexico visit. 

Outlook for the coming week

Benchmarks ended higher in passing week tracking global peers. Some support also came amid buying in beaten down fundamentally strong stocks.

In coming week, traders will be eyeing HSBC Manufacturing PMI Final to be out on November 02. also, HSBC Composite and Services PMI are going to be out on November 04. Meanwhile, on November 06 Foreign Exchange Reserves date is going to be released.

Investors will also keep eye on some important quarterly numbers to be released including ITC, UPL, Bajaj Finserv, State Bank of India, Lupin, MCX, BSE, Apollo Hospitals Enterprise, Aurobindo Pharma, Bharti Airtel, LIC, Titan Company, Mahindra and Mahindra, ONGC, LG Electronics India, Britannia Industries, Glenmark Pharma, Hindalco Industries, Bosch etc.

On the global front, investors would be eyeing economic data from United States (US) starting with ISM Manufacturing PMI on November 02 2026, followed by Redbook, S&P Global Manufacturing PMI on November 03, API Crude Oil Stock, Balance of Trade, ISM Services PMI, EIA Crude Oil Stocks, S&P Global Composite & Services PMI on November 04, Initial Jobless Claims on November 05, Non-Farm Payrolls, Unemployment Rate, Baker Hughes Oil Rig Count on November 06.

Top Gainers 

  • Eternal up by 12.88% was the top gainer on Nifty for the week - Eternal traded jubilantly post its Q4 numbers. The company has reported a 92.31% jump in its consolidated net profit at Rs 125 crore for quarter the ended September 30, 2026, as compared to Rs 65 crore for the same quarter in the previous year.
  • Apollo Hospitals Enterprise up by 11.09% was another top gainer on Nifty for the week - Apollo Hospitals traded higher, along with other hospital stocks, after bargain hunters opted to pick up beaten down hospital stocks. Earlier, hospital stocks came under pressure amid concerns over rising scrutiny by the Supreme Court of India and tighter pricing regulations for the healthcare sector.

Top Losers 

  • Shriram Finance down by 8.63% was the top loser of the week on Nifty - Shriram Finance continued to trade under pressure after its Q2 numbers. The company has reported a 59.18% rise in its consolidated net profit at Rs 3,683.81 crore for the quarter ended September 30, 2026, as compared to Rs 2,314.17 crore for the same quarter in the previous year.
  • Coal India down by 3.37% was another top loser of the week on Nifty - Coal India faced selling pressure post its second quarter earnings failed to match street estimates. The company has reported 53.00% surge in its consolidated net profit at Rs 6,516.09 crore for the quarter ended September 30, 2026 as compared to Rs 4,258.82 crore for the same quarter in the previous year.

Technical viewpoints

During the week, Nifty touched the highest level of 23,118.10 on October 30 and lowest level of 22,372.00 on October 26. On the last trading day, the Nifty closed at 23,053.10 with weekly gain of 453.10 points or 2.00 percent. For the coming week, 22,577.37 followed by 22,101.63 are likely to be good support levels for the Nifty, while the index may face resistance at 23,323.47 and further at 23,593.83 levels.

US Market

The U.S. markets traded higher during the week after Federal Reserve announced its widely expected decision to leave interest rates unchanged. The Fed said it decided to maintain the target range for the federal funds rate at 3.75 to 4.0 percent.

Some of the major developments during the week are:    

U.S. economic growth exceeds estimates in Q3: Real gross domestic product shot up by 3.4 percent in the third quarter after jumping by 2.2 percent in the second quarter. Street had expected GDP to surge by 3.1 percent.

Weekly jobless claims in U.S. edge slightly lower in week ended October 24: Initial jobless claims edged down to 194,000, a decrease of 1,000 from the previous week's revised level of 195,000.

Durable goods orders in U.S. jump in September: The Commerce Department said durable goods orders jumped by 1.8 percent in September following a revised 0.1 percent uptick in August.

U.S. PCE price index increases in September: The Commerce Department said its personal consumption expenditures (PCE) price index climbed by 0.5 percent in September after rising by 0.3 in August. 

New home sales in U.S. pull back in September: The Commerce Department said new home sales fell by 0.6 percent to an annual rate of 676,000 in September after surging by 5.1 percent to a revised rate of 680,000 in August.

European Market

European stocks markets witnessed some gains during the passing week, as investors reacted to a slew of corporate earnings announcements and digested the monetary policy moves of the European Central Bank and the Federal Reserve. 

Some of the major developments during the week are:

ECB holds interest rates steady: The Governing Council, led by ECB President Lagarde, held the deposit rate steady at 2.5 percent, the main refinancing rate at 2.65 percent, and the marginal lending rate at 2.90 percent.

German business confidence rises for sixth month: The business sentiment index rose to 90.2 in October from 89.9 in the previous month, marking the highest score since May 2023 and surpassing the forecast of 90.0.

Spain unemployment rate rises: The jobless rate came in at 10.18 percent in the third quarter, which was up from 9.87 percent in the preceding period. In the same period last year, the unemployment rate was 10.45 percent.

Eurozone economic sentiment weakens to 4-month low: The monthly survey data from the European Commission revealed that the economic confidence index dropped to 96.9 in October from revised 97.5 in the previous month.

French consumer sentiment weakest since 2013: The consumer confidence index fell to 80 in October from 85 in September. A similar lower score was last reported in June 2013. The reading was seen at 85.

Asian Market

Asian markets traded mostly in red during week on continued sell-off in semiconductor and technology stocks amid concerns over the sustainability of the AI and technology investments. 

Some of the major developments during the week are:

Japan housing starts fall 2.7% in September: Japan’s housing starts fell 2.7% year-on-year in September 2026, reversing a 6.1% increase in the previous month and missing market expectations for a 2.9% rise.

Japan industrial output climbs 2.2% in September: Japan’s industrial production increased by 2.2% month-over-month in September 2026, reversing a 2.4% decline in the previous month and surpassing market estimates of 1.3%.

China industrial profits increase notably: China's industrial profits logged a year-on-year growth of 14.4% in September, following prior month's 4.2% expansion.

South Korea industrial output jumps 9.0% in September: South Korea’s industrial production grew 9% month-on-month in September 2026, recovering sharply from a revised 4.6% decline in August.

Hong Kong trade deficit narrows in September: Hong Kong’s trade deficit narrowed to HK$46.3 billion in September 2026 from HK$50.2 billion a year earlier, marking the smallest shortfall since May.
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