The October series has been a good one and in the final day of the series, we did see the Nifty fighting back from day’s low and are now setting ourselves for the new month i.e. November.
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At the start of the October month, we made a point that market appears to be at over sold position and when we do see over sold position we see a bit of a bounce and that’s the way it has played out because the Nifty and the Nifty Bank have seen a very good series with gains of 5.50%-6.50% each.
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The point that we made on over sold positions, the FIIs net short position in percentage terms was around 94%, the highest that we had seen at the start of any series has come down to around 74% so we have seen a massive short covering bouncing and this series has been a very good one.
During the week we had the important FOMC Meeting outcome and as expected Fed Governor Jerome Powell announced a 25bps rate cut, the 2nd rate cut in 2025. However the tone of the commentary appeared to be hawkish with moderation in growth, unemployment rising, inflation still being at higher levels etc.
The markets also witnessed a smart recovery after monthly expiry as market sentiment improved on hopes of a potential US-India trade agreement as optimism grew after President Trump mentioned that discussions were underway for a possible trade deal with India. This was supported by positive momentum in global markets, strong domestic Q2FY26 earnings, sustained FII inflows.
Despite all the positive developments taking place and macro indicators also looking good, benchmark indices Nifty is facing consolidation near 26,000/26100 reflecting Profit booking at higher levels. Indian Markets have had their own share of ups and downs compared to steady global peers in the past one year amid foreign institutions pulling their money out, valuation and tariff concerns, but have now regained strength led by policy measures, GST reduction, and improving earnings outlook. Hence, despite some speed breakers that continue to arrive every now and then, we continue to remain positive on Indian equities. With this let me present to you our weekly market review.
How Did the Markets Fare Last Week?
On a weekly basis ending on Friday, the Indian benchmark indices ended in red. Sensex and Nifty were down 0.3% each while Midcaps outperformed and were up 1 % during the week.
What Might Keep the Markets Busy Into the Next Week?
It's all about earning, earnings and earnings that is driving market direction. Stock-specific actions continue to take center stage and Management commentary is something investors and analysts are monitoring, helping to gauge the outlook for the remainder of FY26.
In terms of data point, on the domestic front we have the monthly auto sales data that will be released for the month of October and it will be interesting to track because this will be the first full month of GST 2.0 rates. Apart from this, HSBC Composite/Manufacturing/Services PMI, Manufacturing & Industrial Output, Bank Loan Growth, FX Reserves etc. will also be tracked. On the global front Nonfarm payrolls, Average Hourly Earnings, Fed Official Speeches, Initial Jobless Claims, Factory Orders will be some of the important key data releases.
Lastly, any communication on development related to the India-US trade deal and President Trump’s commentary on trade deals or new announcements continues to keep the market busy. We have had foreign institution Investors turning net buyers and covering short positions on index futures, hence it will be important to track the movement going ahead as well.
Crude and FII Flows
Brent Crude Oil Prices fell to $64/bbl after a summit between President Trump and Chinese counterpart Xi Jinping that yielded progress on many sticking points, with differences over Russian crude imports not an issue of contention. On the other hand, FIIs were Net Buyers for the week.
Sector in Focus
PSU Bank, Metals, & Energy remained in focus during the week.
Stocks That Remained in Focus During The Week
GE Shipping:
The Great Eastern Shipping Company Ltd (G E Shipping) has contracted to buy an Ultramax dry bulk carrier of about 63,500 dwt on 30th October 2025. The 2019 Japanese built vessel is expected to join the company’s fleet by Q4FY26. The proposed ship will be financed entirely from internal accruals. The purpose of the acquisition is expansion of the fleet.
The Company’s current capacity utilization is close to 100%. It has contracted to sell one of its Suezmax crude tanker and one Medium Range product tanker. These two sale transactions are expected to happen in Q3FY26.
Adani Green:
Adani Solar Energy Jodhpur Six Ltd and Adani Renewable Energy Forty One Ltd, wholly-owned stepdown subsidiaries of Adani Green Energy have entered into Power Consumption Agreements and Tripartite Agreements for supply of 60 MW of solar-wind hybrid power to a commercial and industrial (C&I) customer. The said solar-wind hybrid power shall be supplied from 50 MW solar power plant located at Baap, Rajasthan and 52 MW wind power plant, located at Khavda, Gujarat.
Dilip Buildcon:
The company has secured a Back-to-Back subcontract worth Rs 307.08 crore from ISC Projects Pvt. Ltd. in the Chakradharpur Division of South Eastern Railway, to be completed within 24 months. The project involves extensive earthwork, bridge and drainage construction, track linking, ballast supply, and related civil and structural works. It also includes building service structures, workshops, roads, and other infrastructure for the Barpali loading bulb at Kusara under Dy CE/Con/Jharsuguda.
Lemon Tree:
Lemon Tree announced the launch of its latest managed property – Lemon Tree Hotel, Morbi. This new launch further strengthens the group’s footprint in Gujarat, one of the country’s key industrial and business hubs. With the launch of Lemon Tree Hotel, Morbi, this reflects the 10th operational property in Gujarat to bring signature comfort, warmth, and value to both business and leisure travellers visiting this vibrant city.
DB Realty:
The company has informed exchanges that it has incorporated two wholly owned subsidiaries; Blue Crest Erectors Pvt Ltd (BCEPL) and Blue Crest Properties Ltd (BCPPL) to carry on real estate and construction business. Both the companies were incorporated on 28th Oct’25 and are yet to commence business.
HUDCO:
HUDCO has signed a Memorandum of Understanding (MoU) with Indian Institute of Management, Calcutta (IIMC) to technically collaborate by undertaking exchanges and joint activities in the fields of training, education, research, and capacity building in the shared fields of interest and expertise. It also aims to undertake Certificate Courses, Consultancy, Fee-based projects and services.
Aeroflex Industries:
Aeroflex Industries delivered the highest ever quarterly performance on all parameters, continuing its journey of consistent growth and operational excellence. Both revenue and EBITDA have improved on a YoY and QoQ basis, reflecting the resilience of business and the collective efforts of our team. It also delivered a strong Cash PAT of Rs 20.33 crore, registering a 26% YoY and 55% QoQ growth, reflecting efficient cash generation.
SAMHI Hotels:
SAMHI Hotels announced that it has received formal confirmation from the Maharashtra Industrial Development Corporation (MIDC) granting an extension to the development timeline for its marquee hotel project in Navi Mumbai.
This approval clears the path for SAMHI to commence development of a landmark, dual-branded hotel comprising ~700 rooms near the Navi Mumbai International Airport and DY Patil Stadium, with Phase 1 development planned at ~400 rooms.
Raymond:
Raymond continued its growth momentum, delivering a healthy performance with Total Income of Rs 564 crore, reflecting a 10% YoY increase. Raymond delivered an EBITDA of Rs 79 crore with an EBITDA margin of 14.1% in Q2FY26. The strong financial performance was driven by the Aerospace & Defence and Precision Technology & Auto Components segments, reflecting a major positive shift in the Indian supply chain.
Indian suppliers are successfully moving up the value chain from simple assemblies to producing highly complex precision machined components and subsystems, leading to a surge in order intake for both Tier-1 and Tier-2 vendors for export business.
Sunteck Realty:
The company has informed exchanges that it has executed a Share Purchase Agreement (SPA) for acquisition of 100% equity stake in n Shreejikrupa Hotels and Properties Pvt Ltd (SHPPL) which holds land in Andheri, Mumbai. Post acquisition, SHPPL shall become a step-down wholly owned subsidiary of the company.
SHPPL has land at off Andheri Kurla Road & Sahar Road, Andheri, near International Airport, Mumbai and the acquisition is for development of residential / commercial / mixed-use project. The time period for completion of this agreement is in the next 4-6 months and it will be acquired at an enterprise rate of Rs 100 crore.
