Stock market next week: Indian indices — the Sensex and Nifty — extended their losses for a second consecutive session on Friday, October 31. Nevertheless, both benchmarks recorded their strongest monthly performance in seven months since March.
The Sensex slipped 465.75 points, or 0.55 per cent, to close at 83,938.71, while the Nifty 50 ended 155.75 points, or 0.60%, lower at 25,722. Weak global cues and profit booking amid mixed corporate earnings weighed on market sentiment. Over the month, the Sensex advanced 4.6 per cent, and the Nifty 50 gained 4.5 per cent.
Broader indices also ended in the red, with the BSE Midcap index declining 0.55 per cent and the BSE Smallcap index falling 0.40 per cent.
“Markets ended their four-week winning streak, closing marginally lower amid profit-booking and mixed global cues. The tone remained largely positive and volatile during the first three sessions; however, profit-taking in the final part of the week erased early gains. Consequently, both benchmark indices settled near the week’s low, with the Nifty closing at 25,722.10 and the Sensex at 83,938.71,” said Ajit Mishra, SVP, Research, Religare Broking Ltd, in a weekly note.
According to Mishra, the markets are expected to remain range-bound in the near term, with domestic earnings announcements and global macro developments guiding overall sentiment.
“While mixed global cues may cause short-term fluctuations, supportive factors such as healthy corporate earnings, some consistency in FII inflows, and resilient domestic economic indicators are likely to provide a floor for the market.
Traders should maintain a stock-specific “buy-on-dips” approach, focusing on sectors displaying relative strength such as Banking, Auto, and Metals. Investors are advised to stay selective in the mid and small-cap space, preferring companies with robust fundamentals and consistent performance, while avoiding speculative trades or extended counters in the current environment,” said Mishra.
Top five triggers for the Indian stock market
Q2 results FY26
On the earnings front, several index heavyweights are set to announce their quarterly results, including Bharti Airtel, Titan Company, Adani Enterprises, Adani Ports, InterGlobe Aviation, Mahindra & Mahindra, Paytm, SBI, Britannia, Lupin, Bajaj Auto, and Hindalco Industries.
India-US trade deal
Commerce Minister Piyush Goyal said that India is in the final stages of negotiations with the US for a bilateral trade agreement. “We are at the advanced stage of discussions with both the EU and US for trade deals,” Goyal was quoted as saying in a media event.
The United States has imposed a 25 per cent punitive tariff on India over its purchases of Russian oil, in addition to the existing 25 per cent reciprocal duties applied to Indian goods entering the US market.
“Globally, developments related to trade deals and trends in major international markets will also be closely tracked for directional cues,” Mishra added.
IPO Activity
Around five new IPOs – two in the mainboard and three in the SME segment – are all set to open for subscription in the coming week. Among mainboard IPOs, Groww IPO and Pine Labs IPO will hit the primary market.
Apart from new IPOs, the market will also witness five new companies making their stock market debut in the upcoming week.
Gold prices
Gold prices slipped 1 per cent on Friday, pressured by uncertainty surrounding the possibility of another U.S. Federal Reserve rate cut this year. Despite the decline, the metal was still set to record its third consecutive monthly gain.
Spot gold dropped 0.6 per cent to $4,001.74 per ounce, though it remained up 3.7 per cent for the month. U.S. gold futures for December delivery closed 0.5 per cent lower at $3,996.5 per ounce.
Back home, Gold prices on the MCX opened lower on Friday, mirroring the weakness in global bullion markets amid a firm US dollar. Silver too slipped by more than half a percent.
On the MCX, gold futures began 0.29 per cent lower at ₹1,21,148 per 10 grams, compared to the previous close of ₹1,21,508. Similarly, silver opened 0.47 per cent down at ₹1,48,140 per kg, against the previous close of ₹1,48,840.
Crude oil prices
Oil prices ended slightly higher on Friday after a volatile trading session. Prices initially surged following media reports suggesting that U.S. air strikes on Venezuela could begin within hours, but later retreated after President Donald Trump denied the claims on social media.
Brent crude futures closed at $65.07 per barrel, up 7 cents or 0.11 per cent, while U.S. West Texas Intermediate (WTI) crude settled at $60.98 per barrel, gaining 41 cents or 0.68 per cent.
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