Stock market performance recap as indices advance

Benchmark equity indices Sensex and Nifty advanced for a second straight session on Friday, driven by strong buying in IT stocks and earnings-led gains in Trent. The Sensex increased by 308.49 points to close at 74,459.53, while the Nifty 50 climbed 116.35 points to settle at 23,053.10. For the week, the Sensex recorded a 1.8% gain and the Nifty 50 rose 2%, helping the Sensex finish October up 2.7% and ending a two-month losing streak following declines in August and September. Foreign portfolio investors purchased over ₹ 14,000 crore of equities during the week, while domestic institutional investors added ₹ 7,062 crore. The market also drew support from the debut of Jio Platforms, which listed at 21.4% above its issue price, and the US Federal Reserve holding interest rates steady.

Broad market and sectoral trends

Despite the benchmark gains, broader market breadth remained weak as declining stocks outnumbered advancers. Sectoral performance was varied, with Nifty IT leading the advances by rising 2.32%, followed by Healthcare, Pharma, and Media. Conversely, Consumer Durables, Financial Services Ex-Bank, PSU Bank, and Auto sectors posted declines. The Nifty formed a bullish daily candle and reclaimed its short-term moving average, though it continues to trade below its longer-term moving averages. The Relative Strength Index recovered to 53.50, and the Moving Average Convergence Divergence registered a bullish crossover, though both indicator lines remain below the zero line. Nifty Bank also advanced, gaining 642.25 points to close at 54,909.65, supported by strong performances from heavyweight lenders like Kotak Mahindra Bank and State Bank of India.

Why it matters

This market movement reflects changing sentiment among investors in India as key equity indices recover ground after months of losses. The recent performance impacts investment portfolios and highlights broader economic indicators such as steady interest rates and corporate earnings, which guide future financial decisions.