Cautious Trade Ends October on a High Note for Indian Equities
- Sensex fell 466 pts, Nifty down 156 pts amid profit booking and weak global cues.
- Despite Friday’s dip, both indices recorded their strongest monthly gains since March.
- Focus on Bharti Airtel, Titan, Power Grid, and Tata Consumer as firms announce Q2 results.
India’s benchmark equity indices Sensex and Nifty ended lower for the second consecutive session on Friday, October 31, as weak global cues and profit booking dragged the markets down. However, despite the day’s losses, both benchmarks posted their best monthly performance since March, marking a seven-month high.
The Sensex slipped 465.75 points, or 0.55 per cent, to close at 83,938.71, while the Nifty 50 declined 155.75 points, or 0.60 per cent, to settle at 25,722. The fall came amid cautious global sentiment, mixed corporate earnings, and continued selling pressure in heavyweight stocks.
“Markets edged lower on Friday, extending their ongoing consolidation phase, as the Nifty declined over half a percent. After a flat start, the index attempted to move higher but faced consistent profit booking in heavyweight counters across sectors, dragging it lower as the session progressed. Eventually, it settled near the day’s low at 25,722.10. Sector-wise, all key indices ended in the red, with metals, financials, and pharma among the top laggards”, said Ajit Mishra, SVP, Research, Religare Broking Ltd.
He added that the session remained subdued due to global caution following the U.S. Federal Reserve’s hawkish stance. The lack of sustained foreign institutional investor (FII) inflows further weighed on market sentiment. Meanwhile, the Trump–Xi summit offered only a short-lived truce in the U.S.–China trade tensions, keeping global uncertainty high.
Stocks to Watch
Bharti Airtel, Titan, Power Grid, Tata Consumer:
These stocks will be in focus today as the companies are scheduled to announce their Q2 results.
Bharat Petroleum Corporation Limited (BPCL): BPCL reported a net profit of Rs 6,442 crore for the second quarter of FY26, a 5 per cent sequential rise that matched market expectations. Revenue fell 6.8 per cent quarter-on-quarter to Rs 1.04 lakh crore, while EBITDA increased 1.2 per cent to Rs 9,778 crore. The company’s margins improved to 9.3 per cent during the quarter.
Kotak Mahindra Bank: Shanti Ekambaram retired from Kotak Mahindra Bank after completing her tenure as Deputy Managing Director on October 31.
Vedanta: Metals major Vedanta reported a sharp 59 per cent year-on-year decline in its consolidated net profit to Rs 1,798 crore for Q2FY26, compared to Rs 4,352 crore in the same quarter last year. The fall in profits was attributed to weak metal prices and higher costs.
RailTel Corporation of India: RailTel received a Letter of Acceptance from the Rajasthan Council of School Education for a project worth Rs 32.43 crore, strengthening its presence in the education infrastructure segment.
Urban Company: Urban Company posted a wider loss of Rs 59 crore in Q2FY26, compared to a loss of Rs 2 crore a year earlier. Despite this, the company’s revenue from operations jumped 37 per cent year-on-year, showing strong business growth.
CDSL: Central Depository Services (India) Limited (CDSL) reported a 13.6 per cent decline in net profit to Rs 140.21 crore for the quarter ended September 2025, compared to Rs 162.02 crore in the same period last year.
Hindustan Unilever (HUL): HUL disclosed that it has received a tax demand order worth Rs 1,986.25 crore from the Income Tax Department for FY2020–21, related to transfer pricing and depreciation claims.
Tata Chemicals: The company reported a consolidated net profit of Rs 77 crore for Q2FY26, down 60 per cent year-on-year from Rs 194 crore in the same quarter last year, mainly due to lower sales and higher costs.
Maruti Suzuki: India’s largest automaker, Maruti Suzuki, posted a 7 per cent year-on-year rise in net profit to Rs 3,293 crore for Q2FY26, up from Rs 3,069 crore a year earlier, supported by strong sales and better product mix.
Overall, while the domestic market ended lower amid profit booking and global jitters, investor attention will now shift to upcoming quarterly earnings and macroeconomic cues to gauge the market’s next direction.
