The upcoming week is set to be crucial for Indian stock markets, with several key triggers—including Q2 earnings, the US government shutdown, and the FOMC minutes—likely to dictate market direction.
Corporate Earnings in Focus
The July–September (Q2 FY25) earnings season will begin next week, with major companies such as Tata Consultancy Services (TCS) and Tata Elxsi scheduled to announce their quarterly results on October 9. Investors will closely track management commentary on demand trends, margins, and guidance for the second half of FY25.
The primary market will also see activity, as the Tata Capital IPO is set to open next week. Additionally, updates on LG Electronics’ IPO may influence investor sentiment.
Global Cues: FOMC Minutes and US Shutdown
On the global front, markets will keep an eye on the minutes of the US Federal Open Market Committee (FOMC) meeting held on September 16–17, which could offer fresh insights into the Federal Reserve’s stance on interest rates.
Meanwhile, uncertainty over the US government shutdown continues as the funding impasse between Democrats and Republicans shows little sign of resolution—keeping global investors cautious.
Technical Outlook: Bullish Undertone Persists
Analysts noted that the Bank Nifty continues to trade firmly above its 20-week EMA, indicating sustained strength in the banking sector.
“If selling pressure re-emerges and the index breaks below 55,140, it may decline further towards 55,000 and 53,832 (200-day EMA). On the upside, resistance is seen at 55,850, followed by 56,000 and 56,400,” analysts said.
For the broader market, Nifty found strong support near 24,600, rebounding with two consecutive green candles—signalling renewed buying interest and improving sentiment.
Market Performance: Strong Weekly Gains
Last week, Indian equities witnessed a solid uptrend.
- Nifty rose 239 points (0.97%) to close at 24,894,
- Sensex gained 780 points (0.97%) to end at 81,207.
Among sectoral indices (Sept 29–Oct 3):
- Nifty PSU Bank led the rally, up 4.43%,
- Nifty Metal gained 3.93%,
- Nifty Private Bank added 2.53%,
- Nifty PSE rose 2.77%, and
- Nifty Media advanced 1.87%.
The broader markets also saw strong buying:
- Nifty Midcap 100 jumped 1,124 points (2%) to 57,503,
- Nifty Smallcap 100 surged 317 points (1.81%) to 17,787.
