Last week, the stock market experienced significant turbulence, and on Friday, the last trading day, the Sensex and Nifty indices closed in negative territory. Several factors capable of influencing market dynamics exist for the upcoming week, among which the continued sharp rise in crude oil prices is the most significant.
A general trend towards index decline was observed on the last trading day. The BSE Sensex closed at 73,123, showing a drop of 125 points, while the NSE Nifty fell by 87 points, ending trading at 22,600.
Throughout the week, various global factors influenced the stock market. Due to rising crude oil prices and selling by foreign investors, the NSE Nifty dropped by 2.8% after two weeks of growth, and the BSE Sensex also declined by 2.1% over the short week, including a holiday.
Crude oil prices remain a serious issue and could have a substantial impact on market movement next week. The international price of Brent Crude reached $117 per barrel. Gorang Shah, Senior Vice President of Geojit Investments, told Business Today that high oil prices are creating selling pressure in the domestic market. He emphasized that high crude oil prices cause concern for the Indian economy, as the country depends on oil imports to meet its energy needs.
Last week, which was four days long due to a holiday, foreign investors showed unstable activity. They made stock purchases in two sessions and significant sales in the remaining two sessions. Specifically, on October 19 and October 22, investors sold Indian stocks worth about 4,606 crore rupees, while on October 21 and October 23, they purchased stocks worth 1,909 crore rupees. The dynamic of these investors next week will also be important.
The stock market dynamics next week will also depend on the second-quarter results of several large corporations. The upcoming week will be packed with corporate reports. Many large companies plan to announce their results for the September quarter (Q2 FY27). The schedule includes:
- October 26: Paytm, REC, Tata Consumer Products, Bank of Maharashtra, and Ether Energy
- October 27: Larsen & Toubro (L&T), Maruti Suzuki India, Bajaj Auto, Tata Steel, and Cipla
- October 28: HUL, Adani Ports, Adani Enterprises, TVS Motor Company, Hyundai Motor India, and Hero MotoCorp
- October 29: Asian Paints, Trent, Lauros Labs, Ambuja Cements, and Suzlon Energy
- October 30: Sun Pharma, BEL, Indian Oil Corporation (IOC), Bank of Baroda, and Gail India