Mumbai, October 25 (Udaipur Kiran) — Indian stock markets began Samvat 2082 on a positive note this festive season, lifting consumer sentiment with a strong start. However, the early momentum faded as profit booking and ongoing geopolitical tensions dampened investor confidence toward the end of the week.
The record festive sales, driven by lower prices of goods and services following GST reforms and strong domestic spending, boosted consumer demand significantly. PSU banking stocks led the market rally amid consolidation and better-than-expected corporate earnings.
Vinod Nair, Head of Research at Geojit Investments Ltd., said, “The precious metals market witnessed high volatility. Due to profit booking and a stronger US dollar, it recorded the steepest single-day fall in over a decade.”
Crude oil prices surged following fresh sanctions imposed by the US and the European Union on Russian oil companies, reigniting concerns over global supply shortages and inflationary pressures.
Amid weak global cues, benchmark indices snapped their six-day winning streak on Friday, ending the week in the red. The Sensex declined 344.52 points, or 0.41%, to close at 84,211.88, while the Nifty slipped 96.25 points, or 0.37%, to settle at 25,795.15.
Hardik Matalia, Derivatives Analyst – Research at Choice Equity Broking Pvt. Ltd., noted, “Currently, Nifty is trading above its 20-day, 50-day, and 200-day exponential moving averages, indicating a strong bullish structure and sustained trend strength. On the weekly timeframe, the RSI stands at 61.60 and is moving sideways, suggesting a neutral-to-positive bias with potential momentum after consolidation.”
Meanwhile, Nifty Bank touched a new lifetime high during a volatile week before closing 378.45 points lower at 57,699 on Friday.
Bhupendra Singh Chundawat is a seasoned technology journalist with over 22 years of experience in the media industry. He specializes in covering the global technology landscape, with a deep focus on manufacturing trends and the geopolitical impact on tech companies. Currently serving as the Editor at Udaipur Kiran, his insights are shaped by decades of hands-on reporting and editorial leadership in the fast-evolving world of technology.
