Where is the market headed?
The market started the day on a strong note but lost most of its gains by the end of the session. It has been the third consecutive day of good performance, but today it seemed to fall under its own weight. After an energetic opening, the momentum faded, and the day closed almost flat. The Nifty touched 25,220 but later gave up most of its gains to end just 0.12% higher.
Market Overview
The index continues to move sideways, hovering around the 25,000 mark. Every time it rises, it faces selling pressure, and every time it drops, buyers come back. This steady consolidation may not be a bad thing for the long term.
Nifty Next 50
Nifty Next 50 also closed with a small gain of 0.12%. However, its chart looks more like a flag pattern, suggesting that a dip may also be possible.
Nifty Mid and Small Cap
The mid-cap space performed well again, up 0.39%, showing better strength than large caps. Small caps, on the other hand, stayed quiet and showed no real participation, up just 0.11%.
Bank Nifty
The Bank Nifty gained 0.24%, and an inverted head and shoulders pattern seems to have formed there, hinting at a potential 2,000-point upside if momentum continues.
GOLD
Gold prices stayed calm after a strong move last night, holding near ₹11,967 per gram. Despite the steady rise, gold could correct towards ₹11,000, which would be an 8–10% pullback.
Advance Decline Ratio
The advance-decline ratio started strong in favor of advancing stocks but flattened out later in the day. By the close, advances stood at 233 against 267 declines, showing some loss of momentum.
Heat Maps
Among key stocks, HDFC Bank was the main driver, up 0.93%. ICICI Bank, Reliance, Maruti, Mahindra, Airtel, HCL Tech, and Bajaj Finance also contributed to gains. On the losing side were SBI, Hindustan Unilever, Tata Motors, Infosys, Axis Bank, and Kotak Bank, which dragged the Nifty down.
In the Nifty Next 50 space, the real estate sector saw action with Lodha and DLF gaining modestly. Divi’s Labs jumped 4.7%, and GAIL rose 1.8%. On the other hand, stocks like Pidilite, United Spirits, Britannia, Jindal Steel, Motherson, Bank of Baroda, ICICI General, and Tata Power slipped.
Mover Of The Day
The biggest mover of the day was Vodafone Idea, which surged 8.38% as the market awaited the Supreme Court’s October 13 verdict on the AGR dues issue.
Tata Investment Corporation fell sharply by 7% after a month-long rally of nearly 78%, triggered earlier by the Tata Capital IPO news.
Sectoral Overview
Among sectors, most showed little movement. Defense stocks were down 0.6%, FMCG slipped 0.5%, and media and PSU banks fell between 0.4% and 0.5%. The bright spots were Nifty Realty, up 1.09%, and oil & gas, which also showed some gains.
Sector of the Day
Nifty Realty Index
Real estate stocks are trying to form a base, with Brigade, Lodha, Phoenix Mills, Oberoi Realty, and Anant Raj inching up.
U.S. Market
In the U.S. markets, the S&P 500 rose 0.36%, Dow Jones stayed flat, and Nasdaq gained 0.7%. Over the past month, the S&P 500 has gained 3.9% and the Nasdaq 5.7%, marking a strong performance. Weekend Investing also runs a U.S. portfolio tracking the S&P 100 index, where some top performers included AMD, which soared 24% after a deal with OpenAI.
Tesla gained 5%, while Palantir, PayPal, and NextEra also posted solid gains. The buzz in AI-related stocks continues to drive excitement, with companies like Nvidia, Oracle, and now AMD seeing sharp rallies.
Tweets Of the Day
One of the key updates today came from the precious metals market. Globally, the demand for physical gold and silver is rising sharply, and many suppliers are reportedly running out of stock. Bullion Star reported that 50-gram and 100-gram silver coins are becoming unavailable as supply fails to keep up with demand. While this could be a short-term rush, it suggests that prices may not drop soon unless demand cools off.
At the same time, festive demand in India is strong across several categories. Electronics and consumer goods are witnessing record sales during the Navaratri period, and suppliers are struggling to meet orders for large TVs and other items. Smartphone brands are refilling inventories, and factories are running at full capacity. This surge in demand is a positive sign for the economy, and by the end of October, GST data will likely show how strong this festive momentum has been.
