Sensex and Nifty extend winning streak on FII support, lower crude prices, and Fed rate cut hopes, while the rupee posts its strongest weekly rise since June.
Indian Markets Surge for Third Straight Week
The Indian equity market delivered its strongest weekly performance in four months, ending the week on October 17 with a notable upswing driven by multiple macro positives.
- Sensex gained 1,451.37 points (1.75%) to close at 83,952.19.
- Nifty50 added 424.5 points (1.67%) to end at 25,709.85.
This marks the third consecutive weekly gain for benchmarks, with investor sentiment buoyed by:
- Falling crude oil prices
- Hopes of a US Fed rate cut
- Renewed FII buying in the latter half of the week
- Persistent support from Domestic Institutional Investors (DIIs)
However, caution remains amid global concerns like the US government shutdown risk, US-China trade tensions, and banking sector jitters.
Sectoral and Index Performance Snapshot
Large-Caps
The BSE Large-cap Index rose 1.5%, led by:
- Adani Power, ICICI Lombard, Nestle India, Asian Paints, Waaree Energies, and Mahindra & Mahindra
Major losers included Infosys, Siemens Energy, Polycab, Vodafone Idea, Indian Overseas Bank, and Wipro.
Mid-Caps
The BSE Mid-cap Index ended flat.
- Top gainers: Whirlpool, Ola Electric, Persistent Systems, Godrej Properties, Sona BLW, MMFSL, Oberoi Realty, 360 ONE WAM (up 6–18%)
- Notable losers: Yes Bank, PB Fintech, Emcure, Bandhan Bank, Oracle Fin Serv, Dixon Tech, Glenmark, Tata Tech
Small-Caps
The BSE Small-cap Index declined 0.6%.
- Heavy losers: Amal, Magellanic Cloud, VL E-Governance, Lotus Chocolate, Dhunseri Ventures (down 15–25%)
- Big winners: Share India Securities, Stallion India Fluorochemicals, GM Breweries, Tatva Chintan, MTAR Technologies (up 21–41%)
Sector-Wise Performance
- Nifty Realty: +4%
- Nifty Capital Markets: +4%
- Nifty FMCG: +3%
- Nifty Auto: +2%
- Nifty Media: -2.7%
- Nifty IT: -1.8%
- Nifty Metal & PSU Bank: -0.5% each
Gainers were led by sectors linked to urban demand, capital markets, and consumption, while IT and Media sectors lagged amid global uncertainty and weak earnings momentum.
Top Gainers by Market Capitalization
- Reliance Industries added the most value
- Followed by Bharti Airtel, ICICI Bank, and HDFC Bank
On the flip side, Infosys, TCS, and Eternal witnessed the sharpest erosion in market-cap.
FIIs Turn Cautious, While DIIs Stay Strong
- FIIs were net buyers in the last three sessions, but ended the week as net sellers, offloading equities worth ₹586.76 crore.
- DIIs remained steadfast, buying ₹28,044.45 crore worth of equities—marking their 26th consecutive week of net purchases.
Rupee Posts Sharp Recovery
The Indian rupee rebounded strongly, posting its biggest weekly gain since June, closing 72 paise higher at 87.97 per dollar on October 17 (from 88.69 on October 10).
- The rupee traded between 88.80 and 87.69 during the week.
- The recovery came after nearing an all-time low, supported by softer crude prices, rate cut hopes, and improved market sentiment.
Indian markets rallied for a third straight week, with Sensex and Nifty posting their biggest weekly gains in four months. Strong DII inflows, falling crude, and Fed cut hopes buoyed sentiment. Meanwhile, the rupee posted its best week since June, rising 72 paise against the dollar.
