Indian equities recovered in the last full week of October, winning back part of the previous week’s losses as foreign buying returned and pharma stocks led a broad advance. The Nifty 50 closed above the 23,000 mark, and the Sensex, midcap and smallcap indices also finished higher.
The recovery was not smooth. Markets rose on Monday, struggled through Tuesday and Wednesday, then gathered strength over the final two sessions. The shift in foreign investor behaviour after weeks of steady selling was the key change.
In Simple Words
Indian stocks had a better week, with the Nifty up about 2% and smaller companies recovering alongside large caps. Pharma and healthcare shares led, while oil and gas lagged. Foreign investors turned net buyers, which gave the recovery extra support.
Sensex, Nifty and Broader Markets End Higher
The Nifty 50 gained for the week after a sharp fall in the one before. The Sensex followed a similar path, and the broader market posted slightly stronger percentage gains than the benchmarks.
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| Index | Weekly change |
|---|---|
| Sensex | +1.83% |
| Nifty 50 | +2.00% |
| Nifty Bank | +0.6% |
| Nifty Midcap 150 | +2.21% |
| Nifty Smallcap 250 | +2.32% |
| Nifty 500 | +2.19% |
What made the rebound encouraging is that it was not confined to a few heavyweights. Midcaps and smallcaps joined in, which suggests investors are ready to take selective risks again. Banks recovered more modestly, and that matters, because broad advances usually hold up better when financials take part.
How the Market Moved From Monday to Friday
The week opened with buying after the previous Friday’s decline. Two soft sessions followed, then Thursday delivered the week’s strongest daily gain.
| Day | Nifty 50 close | Daily change |
|---|---|---|
| Mon, Oct 26 | 22,753.20 | +0.68% |
| Tue, Oct 27 | 22,749.75 | -0.02% |
| Wed, Oct 28 | 22,698.85 | -0.22% |
| Thu, Oct 29 | 22,936.75 | +1.05% |
| Fri, Oct 30 | 23,053.10 | +0.51% |
Tuesday was almost flat and Wednesday’s dip showed confidence was still fragile. Thursday changed the direction of the week, helped by fresh buying in major stocks, and Friday carried the Nifty past 23,000. The Sensex ended Friday at 74,459.53.
Timing was the story. Buyers became more active towards the end of the week instead of letting early gains fade before the close.
Sector Winners and Losers: Pharma Takes the Lead
Healthcare was the standout. Pharma shares bounced hard on buying in established drugmakers and specialist manufacturers, while capital-market businesses and realty also advanced.
| Sector index | Weekly change |
|---|---|
| Nifty Pharma | +7.09% |
| Nifty Healthcare | +6.9% |
| Nifty Capital Markets | +4.0% |
| Nifty Media | About +4.0% |
| Nifty Realty | +3.7% |
| Nifty Oil & Gas | -0.74% |
The contrast between healthcare and energy was striking. Money went into defensive and growth-oriented areas, while energy stocks struggled despite the ongoing geopolitical worries. Sector choice made a big difference to returns, and the healthy index numbers hid weakness in parts of the market.
Biggest Weekly Gainers and Losers
Trent led the large-cap gainers, with pharma and healthcare names well represented. Dr. Reddy’s Laboratories and Apollo Hospitals had notable advances.
| Large-cap gainer | Weekly change |
|---|---|
| Trent | +10.63% |
| Dr. Reddy’s Laboratories | +9.96% |
| Apollo Hospitals | +9.29% |
| Adani Ports | +8.65% |
Among the laggards, financial services, energy and technology stocks came under pressure.
| Large-cap loser | Weekly change |
|---|---|
| Shriram Finance | -4.84% |
| Coal India | -2.13% |
| Reliance Industries | -2.11% |
| TCS | -1.08% |
| ONGC | -0.93% |
The wider Nifty 500 showed even sharper swings. Acutaas Chemicals, Ather Energy and Piramal Pharma posted strong gains, while CarTrade Tech, eClerx Services and Dalmia Bharat fell sharply. A positive week for the index did not protect every stock, and investors stayed choosy.
FII and DII Flows: Foreign Investors Return
Foreign institutions turned net buyers for the week, reversing the previous week’s cash-market selling. Domestic institutions were also net buyers, though by a much smaller amount.
| Cash-market activity | Net flow |
|---|---|
| FII, Oct 26–30 | +₹6,304.67 crore |
| DII, Oct 26–30 | +₹3,109.79 crore |
| Combined | +₹9,414.46 crore |
Foreign buying was heaviest on Tuesday and Friday and helped the market recover. Domestic institutions supported earlier in the week but sold on some of the stronger sessions. One good week does not erase the heavy foreign selling seen through October, but it is a real change from the steady outflows that had been weighing on Indian equities.
Rupee and Gold
The rupee barely moved against the dollar despite choppy energy markets. Gold slipped during the week, while domestic crude futures rose.
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| Asset | Week-end level | Weekly change |
|---|---|---|
| USD/INR | ₹94.95 | Nearly flat |
| MCX gold, 10 grams | ₹1,39,830 | -0.85% |
| MCX crude, barrel | ₹9,728 | +3.27% |
A steady rupee helps because India imports most of its energy and is vulnerable when oil climbs. Gold’s fall also showed investors were not rushing uniformly into safe havens: equities recovered while precious metals saw selling.
Policy, IPOs and Corporate Deals
The US Federal Reserve’s decision to hold rates was one of the week’s key global policy moments. Investors also kept an eye on high energy prices and Middle East tension.
At home, the primary market stayed busy. Jio Platforms and Paras Healthcare reached their listing dates, and several mainboard issues drew attention, including EAAA India Alternatives, SFC Environmental Technologies, BLS Polymers and M.K. Sons Fine Jewels.
Deal activity picked up in energy infrastructure, renewable power and organised consumer businesses, and regulatory approvals moved several acquisitions and mergers forward. Stock reactions across related names were far from uniform.
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The wider picture is still mixed. Domestic demand is supportive, but costly imported energy and a weak rupee remain a drag on inflation and corporate margins.
Global Cues: Interest Rates and Geopolitics
Global markets spent the week weighing central bank policy, trade tensions and energy security. The Fed’s decision gave some clarity on near-term US borrowing costs, though the path ahead stays uncertain.
Middle East developments kept energy supply in focus, which matters for India because sustained pressure can lift transport costs, squeeze profits and widen the current account deficit. Indian equities recovered, but outside risks have not gone away.
What to Watch Next Week: November 2–6
The coming week brings Indian business activity data, central bank decisions overseas, the US elections and another packed results calendar.
| Date | Key event |
|---|---|
| Nov 2, Monday | India manufacturing PMI |
| Nov 3, Tuesday | US midterm elections; RBA policy |
| Nov 4, Wednesday | India services PMI |
| Nov 5, Thursday | Bank of England rate decision |
| Nov 6, Friday | US employment report; India forex reserves |
Results are due from ITC, SBI, Bajaj Finserv, Apollo Hospitals, Mahindra & Mahindra, Titan, Bharti Airtel, ONGC and Hindalco, and the IPO calendar stays active with new SME issues and listings.
For the Nifty, holding above 23,000 would help protect the improved mood. A return to heavy foreign selling could make further gains hard to come by.
The Week in Perspective
The last week of October gave Indian investors a welcome recovery after a rough stretch. The Nifty won back 23,000, foreign buying improved and healthcare stocks delivered big gains.
Still, the market was uneven. Banks lagged the broader move, oil and gas fell, and several individual stocks took sharp hits even as the headline indices rose. It was a meaningful recovery, but not a sign that every part of the market has turned attractive. The next test is whether foreign buying continues and whether the rally spreads beyond its strongest sectors.
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FII and DII Flows for the Week
Foreign and domestic institutions both ended the week as net buyers in the cash market. FIIs turned the week around with heavy buying on Tuesday and Friday, while DIIs supported the market early in the week and on Thursday.
| Session | FII net (₹ crore) | DII net (₹ crore) |
|---|---|---|
| Mon, Oct 26 | −1,462.49 | +2,609.57 |
| Tue, Oct 27 | +4,240.39 | −1,250.03 |
| Wed, Oct 28 | +871.83 | +643.35 |
| Thu, Oct 29 | −943.60 | +1,924.41 |
| Fri, Oct 30 | +3,598.54 | −817.51 |
| Week total | +6,304.67 | +3,109.79 |
Disclaimer: This article is published for educational and informational purposes only. It is not financial advice or a recommendation to buy or sell any security. Market conditions and investment risks can change. Investors should conduct independent research or consult a qualified financial adviser before making investment decisions. OneTrader is not registered with SEBI as an investment adviser or research analyst.
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