In short: Markets rose for a second day on Friday. The Nifty 50 gained 148.80 points (+0.65%) to 23,146.15 and the Sensex rose 413.66 points (+0.56%) to 74,729.27, after recovering from early losses. IT stocks jumped about 4% on strong Tech Mahindra and Wipro results. For the week, Nifty rose 2.78% and closed above its 22,800 breakout level. All eyes now turn to HDFC Bank, ICICI Bank, Axis Bank and YES Bank results on Saturday.
Today at a glance
Index
Close
Change (pts)
Change (%)
Nifty 50
23,146.15
+148.80
+0.65%
Sensex
74,729.27
+413.66
+0.56%
Bank Nifty
55,844.00
+33.50
+0.06%
India VIX
14.06
+0.03
+0.21%
Broader market
Change (%)
Nifty Midcap 100
−0.11%
Nifty Smallcap 100
−0.01%
Market breadth: 2,221 stocks rose and 1,791 fell. The rally was again led by a few large caps, especially IT.
This week (12–16 October)
Nifty closed the week above 22,800 and above last week's high of 22,776: a weekly breakout.
Index
Last week's close
This week's close
Weekly change
Nifty 50
22,520.45
23,146.15
+625.70 (+2.78%)
Sensex
72,472.33
74,729.27
+2,256.94 (+3.11%)
Bank Nifty
55,256.65
55,844.00
+587.35 (+1.06%)
Sector performance
Sector
Change (%)
Nifty IT
+3.92%
Nifty Metal
+0.95%
Nifty Auto
+0.75%
Financial Services
+0.09%
Nifty Energy
−0.06%
Nifty Pharma
−0.14%
Nifty Realty
−0.33%
Nifty FMCG
−0.39%
Consumer Durables
−0.61%
Top gainers and losers (Nifty 50)
Top gainers
Close (₹)
Change (%)
Tech Mahindra
1,790.00
+8.48%
TCS
2,465.00
+4.89%
Infosys
1,161.20
+4.61%
Bharti Airtel
—
+2.75%
Mahindra & Mahindra
—
+2.07%
Top losers
Close (₹)
Change (%)
InterGlobe Aviation
4,686.90
−1.91%
BSE Ltd
3,363.00
−1.90%
Max Healthcare
846.00
−1.40%
Tata Consumer Products
—
−1.27%
Jio Financial Services
—
−1.26%
Why the market rose
IT results: Tech Mahindra reported better-than-expected revenue and strong deal wins; Wipro also rose about 6%. Nifty IT jumped 3.9%.
Lower US bond yields: eased pressure on global markets after Wednesday's slump in AI-linked stocks.
Stronger rupee: the rupee firmed for a fifth straight session after RBI measures.
SEBI keeps the old settlement method: index derivatives will keep settling on the last 30 minutes' average price (from 7 December), not on the closing auction, which removes a worry for F&O traders.
Headwinds: Brent crude stayed near $105, US wholesale inflation (PPI) came in hot at +1.3%, and foreign investors are still net sellers.
Results update
Company
Key number
Note
Federal Bank (Q2)
Net profit ₹1,386 crore, +45% YoY
Record profit; stock +2.9%
Crompton Greaves Consumer (Q2)
Net profit ₹119 crore, +68%
Stock up to +2.4%
Shoppers Stop (Q2)
Net profit ₹3.1 crore
Turnaround from a ₹20 crore loss
Cyient DLM (Q2)
Stock −12.2%
Revenue grew, but margins (8.7%) disappointed
YES Bank
CET1 could fall ~250 bps
From reinstating ₹8,415 crore of AT-1 bonds; results Saturday
Commodities (MCX, Friday close)
Commodity
Price
Change
Gold
₹1,48,429
+0.64%
Silver
₹2,13,460
+1.33%
Crude oil
₹9,233
−0.56%
Natural gas
₹303.50
−0.82%
Key levels for Monday, 19 October
Nifty 23,200 and 23,000 are the levels analysts highlighted on Friday; 23,500–23,600 is the 50-day average. Bank Nifty 56,000 is just above Friday's high (55,989); 56,500 is a round-number level. Sensex levels are the Nifty levels converted at today's Sensex/Nifty ratio.
Index
Close
Resistance
Support
Nifty 50
23,146
23,200, then 23,500
23,000, then 22,800
Bank Nifty
55,844
56,000, then 56,500
55,600, then 55,170
Sensex
74,729
74,900, then 75,900
74,250, then 73,600
How to read them: Nifty closed near the day's high, just below 23,200. A move above 23,200 opens the 23,500–23,600 zone. Holding 23,000 keeps the breakout intact; a slip below 22,800 would mean the week's breakout has failed. Bank Nifty will open on Saturday's bank results, so expect a gap either way on Monday.
Weekly levels (week of 19–23 October)
22,800 was last week's breakout level and now acts as support; 22,180 was last week's low.
Index
Weekly resistance
Weekly support
Nifty 50
23,500–23,600 (50-day average)
22,800, then 22,180
Bank Nifty
56,500
55,000, then 54,800
Stocks to watch on Monday
Volume and momentum
Stock
Move today
Why it is on the list
Tech Mahindra
+8.48%
Results beat; top Nifty gainer
Wipro
+~6%
Revenue beat; Q3 guidance was weak, watch follow-through
TCS
+4.89% to ₹2,465
Up sharply since Q2 results
Federal Bank
+2.9%
Record Q2 profit
Weakness watch
Stock
Move today
Why it is on the list
R R Kabel
−8.3%
Top high-volume loser; no result yet (due around end-October)
Cyient DLM
−12.24%
Margin disappointment after Q2
HDB Financial Services
−4.81%
Near 52-week low; NBFC selling
L&T Finance
−3.56%
Heavy selling in retail lenders
Apar Industries
−5.14%
Profit booking in high-beta industrials
Stocks in news for Monday
Result previews as reported by Business Standard and Kotak Neo; check company filings before relying on any number.
Fed Chair Warsh's remarks (Friday, US time): any hint of another rate hike would move global markets on Monday.
Thursday, 23 Oct: Tonbo Imaging listing.
27–28 Oct: US Federal Reserve meeting.
Pokharna Research view
A good week: Nifty gained 2.8% and closed above the 22,800 breakout level, led by IT. But the rally is narrow, mid and small caps are flat, and banks have not joined in yet. Saturday's bank results decide whether Nifty can push through 23,200–23,500 next week, or slips back towards 23,000. Watch Bank Nifty's opening on Monday closely.
This report is educational and informational. It is not investment advice, and nothing here is a call to trade any security or index. Pokharna Research does not claim SEBI registration.
Disclosure: This content is for general information and education only. It is not investment advice or a recommendation to buy or sell any security. Please check facts against primary sources before relying on them. Pokharna Research does not claim SEBI registration.
