The Sensex and Nifty 50 advanced 1.8% and 2% respectively over the week, supported by over ₹14,000 crore in net foreign institutional purchases. Market breadth remained decisively weak on Friday, however, with declining shares outnumbering gainers by more than two to one as Consumer Durables tumbled 1.78%. Amid these mixed signals, MarketSmith India advised short-to-medium-term positions in Coforge Ltd and Sai Life Sciences Ltd based on specific technical patterns.
Key points
MarketSmith India issued a buy call on Coforge Ltd targeting ₹2,350 based on a cup base b…: MarketSmith India issued a buy call on Coforge Ltd targeting ₹2,350 based on a cup base breakout and strong digital service demand.
Sai Life Sciences Ltd was recommended for purchase with a target price of ₹1,790 followin…: Sai Life Sciences Ltd was recommended for purchase with a target price of ₹1,790 following a reclaim of its 50-day moving average.
Although the Nifty reclaimed its 20-day moving average, it continues to trade below longe…: Although the Nifty reclaimed its 20-day moving average, it continues to trade below longer-term 50-day, 100-day, and 200-day moving averages.
Sources checked by our analysis pipeline: 1
Stock market recap: Benchmark equity indices Sensex and Nifty rose for a second consecutive session on Friday, buoyed by strong buying in IT stocks and earnings-led gains in Trent, the Tata Group’s retail arm.
The Sensex gained 308.49 points, or 0.42%, to close at 74,459.53, while Nifty 50 advanced 116.35 points, or 0.51%, to settle at 23,053.10.
For the week, the Sensex rose 1.8% and the Nifty 50 2%. The recovery helped the Sensex finish October 2.7% higher, ending a two-month losing streak after declines of 5.8% in September and 1.5% in August. The Nifty rose 1.9% in October, after declining 6.1% in September and 1.2% in August.
Foreign portfolio investors bought more than ₹14,000 crore of equities during the week, including primary-market investments. Domestic institutional investors bought another ₹7,062 crore. Indian equities found dual triggers this week as the country's largest IPO, Jio Platforms, delivered a strong debut, listing at 21.4% above its issue price. Meanwhile, the market found some solace as the US Federal Reserve held interest rates steady, though it maintained its caution on inflation.
Trading activity has pushed equity values higher for one of China's major state-owned commercial lenders during the current market session. Investors are closely monitoring the institution as broader financial sector trends and liquidity dynamics influence share performance. Further analysis is required to determine the long-term sustainability of this upward trajectory.
Intense geopolitical friction in West Asia alongside crude prices surging past $102 a barrel sparked sharp equity fluctuations across October. The resulting market turbulence prompted rapid derivatives activity across domestic exchanges, directly boosting fee-driven business on weekly contract settlement days. Investors are now awaiting the outcome of U.S. midterm elections to gauge future trade policies and foreign relations affecting emerging economies.
Capital-intensive digital infrastructure projects continue to secure massive private debt packages as artificial intelligence requirements accelerate demand worldwide. This substantial debt pursuit highlights how specialized operators are leveraging global credit markets to fund large-scale expansion plans. The financing reflects sustained investor appetite for enterprise-grade facilities capable of managing intensive modern computational workloads.