Research Report : Indian Financial Markets Outlook – 31st October 2025

Ravi Bhatt
Sebi Registered Research Analyst - INH000012591
Website - www.capsavaj.com

Asian Markets welcome US China trade agreement, positivity to prevail

In the early morning session, the GIFT Nifty was trading marginally higher at 26,041.50, which implied a positive open for the benchmark Nifty 50 index. Asian markets welcome US China trade agreement whereby US reduced tariff by 10% and China allowed exports of rate earth materials to USA. Japan's benchmark index, the Nikkei 225 rose past a crucial level of 52,000 for first time on Friday as upbeat earnings from megacap technology firms on Wall Street fueled bulls.

The Nikkei 225 was trading 1.05% higher at 51,872 in the early morning. The index rose to a new high of 52,39145 during the session. The Nifty ended in the red on Thursday closing below the 26,000 mark. At the close, the Sensex fell 592.67 points, or 0.70%, to 84,404.46, while the Nifty slipped 176.05 points, or 0.68%, to 25,877.85. The Nifty was down as much as 0.80% during the day at 25,845.25, while the Sensex was also down 0.81% to 84,312.65.

Fundamental Update

• Dabur - Q2FY26 (YoY) Revenue up 5.4% to Rs 3,191 crore versus Rs 3,029 crore. Ebitda up 6.4% to Rs 588 crore versus Rs 553 crore. Positive

• IEX - Q2FY26 (YoY) Revenue up 10.4% to Rs 154 crore versus Rs 139 crore. Ebitda up 11.3% to Rs 133 crore versus Rs 120 crore. Positive

• ITC - Q2FY26 (YoY) Revenue down 3.4% to Rs 18,021 crore versus Rs 18,649 crore. Ebitda up 2.1% to Rs 6,252 crore versus Rs 6,123 crore. Negative

• Bandhan Bank - Q2FY26 (YoY) NII down 11.8% to Rs 2,589 crore versus Rs 2,934 crore. Operating Profit down 29.4% to Rs 1,310 crore versus Rs 1,855 crore. Negative

Technical Update

• NIFTY – Nifty witnessed profit booking at higher level and fell below 26K to settle at 25,877 on Thursday. Index traded negative during day but retain 25,800 as near term support. Today’s range – 25,800 – 26,050.

• BANKNIFTY – Bank nifty too encountered profit booking and closed near 58K at 58,031 on Thursday. Index has maintained 58K is near term support while 58,450 is first resistance. Today’s range – 57,800 – 58,450.

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