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Global equity markets were mostly positive in this week, and the Indian equity markets also delivered decent weekly returns. BSE 30 index and NSE 50 index moved around 1% higher this week. The midcap and the smallcap index, though positive, underperformed the larger peer. On the sectoral front, most of the sectors ended the week with modest gains, with no sector witnessing any significant gain or loss. BSE IT and BSE Capital Goods indices outperformed, while BSE Realty, BSE FMCG and BSE Commodities underperformed.  Global markets were supported by the end of the US government shutdown, strong earnings numbers in the US and the supportive outlook of the US Fed. In India, the October CPI inflation eased to 0.25% due to a continued deflation in food and some impact of GST rate cuts across sectors.  In Indian markets, stock specific actions continued based on Q2FY26 results and management commentary.

The Q2FY26 earnings season showed subdued trends in mass-consumption, uptick in select discretionary segments, modest IT services demand and moderate loan growth for banks. The performance from the metals & mining and Oil Marketing companies were better than estimates. With the Q2FY25 result season coming to an end, the market moves back to macro data point, geo-political development and news related to the India-US tariff resolution.

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