Nifty 50 ended the week at 23146.15, up 0.65%

The session

Where the market stands

Key drivers

Market breadth

Currency, commodities & rates

Currency, commodities and rates

• USD/INR: 94.96, rupee firmer by 0.20% on the session
• India VIX: 14.02 (-0.0%)
• Gold (rupee terms): +0.32% on the session, -2.1% over five sessions

Key drivers

Markets

• IT's time to celebrate when chips are down; Nifty IT soars 11.7% to log biggest weekly rally since 2008. The Indian IT sector experienced an impressive surge, achieving its highest weekly increase in 18 years, driven by unexpectedly strong quarterly results from companies like HCLTech. (Economic Times Markets)
• Market wrap: Tech Mahindra, TCS, InterGlobe, BSE top gainers and losers on Nifty and Sensex on Friday. Indian equities extended gains as strong IT earnings lifted sentiment, with the Nifty rising 149 points to 23,146 and Sensex gaining 413 points. Tech Mahindra led advances, while broader markets slipped. Analysts flagged 23,000 as crucial for further upside. (Economic Times Markets)
• 10 smallcap stocks surge up to 65% in 3 months despite market weakness. Despite a nearly 4% decline in the Nifty 50 over three months, several Nifty Smallcap 250 stocks have rallied sharply. Cupid led with 66% gains, followed by Sterlite Technologies and Welspun Corp, highlighting pockets of resilience amid market volatility. (ET Stocks)
• F&O Talk: Nifty’s break above 23,450 could push index to 23,650; Sudeep Shah picks Tech Mahindra, TCS strategy. SBI Securities’ Sudeep Shah sees scope for Nifty’s recovery if it holds 22,750, with IT, private banks and media leading. (Economic Times Markets)

Read more IT's time to celebrate when chips are down; Nifty IT soars 11.7% to log biggest weekly rally since 2008 · Market wrap: Tech Mahindra, TCS, InterGlobe, BSE top gainers and losers on Nifty and Sensex on Friday · 10 smallcap stocks surge up to 65% in 3 months despite market weakness · F&O Talk: Nifty’s break above 23,450 could push index to 23,650; Sudeep Shah picks Tech Mahindra, TCS strategy

Economy & policy

Economy and policy

• Aggressive RBI measures hand India bonds a ninth weekly loss. Indian government bonds have experienced ongoing losses for nine consecutive weeks due to RBI's monetary tightening measures. The benchmark 6.94% 2036 bond yield has climbed over 62 basis points during this period, reflecting investor concerns. (Economic Times Markets)
• Festive spending in urban India to drop 6% to ₹1.97 lakh crore amid inflation: Survey. Urban India's festive spending is projected to fall 6% to ₹1.97 lakh crore in 2026, with households budgeting an average of nearly ₹20,000 amid rising inflation and borrowing costs, according to a LocalCircles survey. (Business Today Mkts)
• India's Forex Reserves Decline By $8.578 Billion to $726 Billion. The value of gold reserves decreased by $1.319 billion to $105.094 billion during the week, the RBI said. (NDTV Profit)
• India's $4 trillion economy: Can it beat its 2003-07 growth streak and become No. 3 by 2030?. The scale of India's recent performance becomes clearer when measured over several years rather than through individual quarterly or annual figures. (Business Today Mkts)

Read more Aggressive RBI measures hand India bonds a ninth weekly loss · Festive spending in urban India to drop 6% to ₹1.97 lakh crore amid inflation: Survey · India's Forex Reserves Decline By $8.578 Billion to $726 Billion · India's $4 trillion economy: Can it beat its 2003-07 growth streak and become No. 3 by 2030?

Companies

• Concurrent Gainers: 15 stocks gain for 5 days in a row. The Sensex gained 3.11% during October 12–16, while 15 BSE 500 stocks posted consecutive gains. Tata Elxsi led with 23%, followed by KPIT Technologies at 16%. (Economic Times Markets)
• Yes Bank Q2 preview: Will strong profit, NII growth offer relief for investors amid AT-1 bond saga?. Yes Bank is expected to post a 48% YoY jump in Q2 net profit to Rs 969 crore, driven by robust loan growth and higher NII. (Economic Times Markets)
• Federal Bank Q2 Results: Net Profit Jumps 45% YoY To Record Rs 1,386 Crore; NII Rises 26%. Growth remained broad-based across the bank's chosen segments. Gold loans grew 37.13% YoY, loans against property (LAP) increased 32.21%, credit cards rose 28.27%, and commercial banking expanded 25.46%. (NDTV Profit)
• Indian Bank reports a Rs 1,388 crore gain from sale of NSE shares. Indian Bank gained Rs 1,388 crore from the NSE listing, boosting second-quarter non-interest income by 50% to Rs 3,953 crore. The one-time gain offset pressure from rising bond yields, despite Rs 123 crore in mark-to-market losses. (ET Stocks)

Read more Concurrent Gainers: 15 stocks gain for 5 days in a row · Yes Bank Q2 preview: Will strong profit, NII growth offer relief for investors amid AT-1 bond saga? · Federal Bank Q2 Results: Net Profit Jumps 45% YoY To Record Rs 1,386 Crore; NII Rises 26% · Indian Bank reports a Rs 1,388 crore gain from sale of NSE shares

Companies

New issues

• Jio IPO’s grey market hints at 20% listing pop. What are Emkay, SBI Securities saying?. Jio Platforms’ Rs 30,200 crore IPO commands a grey market premium of Rs 221, suggesting nearly 20% listing gains. (Economic Times Markets)
• SEBI Approves Four IPOs Including Cult.fit, Sohan Lal Commodity Management. The approvals add four companies to the pipeline of businesses preparing to tap the public markets. (NDTV Profit)
• Jio IPO GMP rises: Ventura, SMC Global, SBI Securities, 3 others share recommendations. Jio IPO: Analysts said capex on 5G and other physical infrastructure has already been deployed and cash flow generation is likely to be healthy for Jio going ahead. (Business Today Mkts)
• Cult.fit receives Sebi approval for proposed IPO. Cult.fit has received Sebi observations for its proposed IPO, comprising a fresh issue of up to Rs 950 crore and an offer for sale. Revenue rose 36.26% in FY26, while adjusted EBITDA margin improved significantly as fitness operations expanded nationwide. (Economic Times Markets)

Read more Jio IPO’s grey market hints at 20% listing pop. What are Emkay, SBI Securities saying? · SEBI Approves Four IPOs Including Cult.fit, Sohan Lal Commodity Management · Jio IPO GMP rises: Ventura, SMC Global, SBI Securities, 3 others share recommendations · Cult.fit receives Sebi approval for proposed IPO

Currency, commodities & rates

World

• China Says Ready To Address Each Other's Concerns After Sitharaman Flags Trade Barriers. Sitharaman on Friday said the growing trade imbalance and persistent restrictions on market access for Indian products remained major concerns, despite years of engagement with Beijing. (NDTV Profit)
• Trump Eases Russian Oil Sanctions That Could Have Triggered 100% Tariffs On India. US President Donald Trump signed the order using the waiver power written into the Lindsey O. Graham Sanctioning Russia and Iran Act of 2026. (NDTV Profit)
• Trump pauses Russia-linked tariffs threatening India and China: What it means for India. The legislation, named the Lindsey O Graham Sanctioning Russia and Iran Act of 2026, gave Trump 30 days to impose tariffs of up to 100% on imports from major buyers of Russian crude, including India, China, Slovakia, Hungary and Azerbaijan. (Business Today Mkts)
• India Among Top Three Global Investors As World Bank's Private Capital Mobilisation Triples To $112B. India ranked among the top three sources of private capital mobilised by the World Bank Group in FY26, alongside the United States and the United Kingdom. The institution’s private capital mobilisation reached a record $112 billion. (NDTV Profit)

Read more China Says Ready To Address Each Other's Concerns After Sitharaman Flags Trade Barriers · Trump Eases Russian Oil Sanctions That Could Have Triggered 100% Tariffs On India · Trump pauses Russia-linked tariffs threatening India and China: What it means for India · India Among Top Three Global Investors As World Bank's Private Capital Mobilisation Triples To $112B

What matters next