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Domestic equities bounced back after three days of decline. Globally optimism over strong earnings helped ease concerns over the Israel-Gaza conflict. Nifty opened gap up and maintained its strength throughout the session to finally close at 19812 levels with gains of 80 points (0.4%). Broader market too ended in green with Midcap100/smallcap100 up +0.4%/+0.9%.  Better than expected results of HDFC Bank lifted the overall investor sentiments. Power stocks (up 0.9%) were in focus today as Coal India’s supply to power plants rose 6% in October so far. Even oil & gas companies gained 0.7% on the back of 10% MoM jump in diesel sales in the first half of October. Overall, given the resilient domestic economy and strong earnings outlook, the positive trend remains intact. Lot of stock-specific action is likely to be seen as we progress into the results season.

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