Banks, Trent Lift Indian Shares; Nifty Up 0.45%

Indian shares inched higher on Friday, helped by gains in banking stocks and a strong quarterly update from Trent, even as broader sentiment remained cautious amid mixed global cues. The benchmark Nifty 50 rose 0.45 per cent to close at 22,650.30, while the BSE Sensex added 0.38 per cent to end at 74,820.15. The session was marked by stock-specific action, with investors rewarding companies that reported healthy business updates for the September quarter.

Banking counters were among the top contributors to the index’s advance. HDFC Bank gained 0.9 per cent, ICICI Bank rose 0.7 per cent, and State Bank of India added 0.6 per cent. Analysts say the banking pack found support from expectations of steady credit growth and stable asset quality in the second quarter. “The banking sector continues to be a preferred bet for institutional investors due to its earnings visibility,” analysts say, though they caution that margin pressure could persist in the near term.

Retail major Trent was the standout performer, surging 4.2 per cent after reporting a 15 per cent year-on-year increase in standalone revenue for the September quarter. The company’s fashion and grocery segments showed robust momentum, with analysts noting that store additions and higher footfalls drove the growth. Trent’s stock has been a consistent outperformer this year, and the latest update reinforced its premium valuation in the retail space.

Market breadth was positive, with 1,842 stocks advancing on the BSE against 1,534 declines. The mid-cap and small-cap indices outperformed, gaining 0.8 per cent and 1.1 per cent respectively, indicating that risk appetite remains alive beyond the large caps. However, foreign institutional investors (FIIs) were net sellers to the tune of ₹1,250 crore, while domestic institutional investors (DIIs) bought equities worth ₹980 crore, according to provisional exchange data.

“The Indian market is showing resilience despite global headwinds. Quarterly updates from banks and consumer-facing companies are likely to dictate the near-term trend,” analysts say.

On the sectoral front, the Nifty Bank index rose 0.8 per cent, while the Nifty Financial Services index gained 0.7 per cent. The Nifty FMCG index was up 0.4 per cent, supported by gains in Hindustan Unilever and ITC. On the losing side, the Nifty IT index slipped 0.3 per cent as technology stocks faced profit-booking after a recent rally. The Nifty Auto index was flat, with mixed cues from monthly sales data.

Globally, Asian markets were mixed as investors awaited key economic data from the US and Europe. The US Federal Reserve’s policy stance and the trajectory of inflation remain key monitors for Indian equities. Analysts say that while valuations are elevated, strong domestic flows and earnings growth could support the market at current levels. “Any correction should be used as a buying opportunity in quality large-cap and mid-cap stocks,” analysts add.

Looking ahead, market participants will focus on the upcoming quarterly earnings season, with several heavyweights scheduled to report next week. Companies like Reliance Industries, Infosys, and TCS will be in focus. Additionally, the monsoon progress and crude oil prices will influence sentiment. For investors, staying diversified and avoiding leveraged positions is advisable in this volatile environment.

For more detailed market analysis and stock-specific insights for October 2026, visit markettomoney.co.in. Stay informed, stay invested.