Stock Market Opening Update: Mixed Global Cues, Gold at Record Highs, Focus on Banking & NBFC Stocks
The Indian stock market opened on a cautious note this Monday, October 6, 2025, with GIFT Nifty trading around 11–12 points lower. Asian markets showed mixed trends, with Japan’s Nikkei reportedly up by nearly 4.5%, a move that has raised eyebrows among traders as no major news seems to justify such a sharp rally.
On Wall Street, the Dow Jones closed 76 points higher, indicating flat-to-positive global sentiment. Meanwhile, GIFT Nifty was trading around 24,950 levels, nearly 56 points higher compared to Friday’s close of 24,894 on Nifty 50. Analysts believe the market trend remains bullish, with Nifty expected to test 25,000 and 25,200 resistance levels in the near term.
Key Gainers & Losers
- Top gainers: Kalyan Jewellers (+5.5%), Nova Wealth (+4%), Indian Bank, Solar Industries.
- Top losers: Max Healthcare (-4%), Saman Capital (-2.5%), Lodha Developers (-2.5%), Cholamandalam Investment (-2%).
Market watchers expressed surprise over the weakness in Max Healthcare, which many expected to perform better given sectoral tailwinds.
Gold at Record Levels
Gold continued its rally, trading near ₹1,21,000 per 10 grams, driven by:
- Global uncertainty, pushing investors towards safe-haven assets.
- Strong buying from China and India.
- Weakness in the Indian rupee, which is currently at lifetime lows against the US dollar and other major currencies.
Analysts caution that as long as the rupee remains under pressure, gold prices will continue to surge, impacting domestic purchasing power.
Nifty & Bank Nifty Outlook
- Nifty 50 closed 58 points higher at 24,894 in the previous session. Resistance is seen at 25,000 and 25,200, while supports lie at 24,750 and below.
- Bank Nifty surged 250 points to close at 55,589. Immediate supports are at 55,450 and 55,250.
The outlook remains slightly bullish, supported by strong technical momentum and positive quarterly updates from leading banks and NBFCs.
FII & DII Data
- FIIs sold ₹1,583 crore in the last session.
- DIIs bought significantly, though their purchases were outweighed by FII selling pressure.
Volatility & Derivatives Data
- India VIX remains low, hovering near September lows around 10, signaling reduced volatility.
- Put-call ratio indicates bullishness, with more aggressive put writing compared to call writing.
Corporate & Sector Updates
- HDFC Bank: Advances up 10%, deposits up 15%, overall AUM growth of 9%.
- Bajaj Finance: Advances grew 26%, deposits up 5.5%, AUM higher by 24%. Analysts warn of possible profit booking after quarterly updates.
- Kotak Mahindra Bank: Advances up 16%, deposits up 14%, CASA up 11% – stronger growth compared to HDFC Bank.
- Bank of Baroda & Canara Bank: Strong advances and deposits growth; Canara Bank also set to launch two IPOs (Life Insurance & AMC) on October 9–10.
- NBFCs: Positive quarterly updates from Shriram Finance, L&T Finance, and others.
- Moil: Best-ever September production, up 4% YoY.
- IndusInd Bank: Weak numbers – advances down 8%, deposits down 5%.
- Aditya Birla Life Insurance: Flipkart may sell a 6% stake, creating short-term pressure on the stock.
- Lupin: USFDA flagged observations at its Pithampur facility, a recurring concern for the pharma major.
- Siemens & Seigel Contracts: New orders worth over ₹1,300 crore from Maharashtra State Electricity Distribution Company.
Global Cues & Macro Environment
Former US President Donald Trump warned that the US economy is on the brink of recession, adding uncertainty to global markets. Despite global headwinds, India’s domestic economy remains resilient, supported by strong consumption demand, government spending, and robust corporate earnings.
Market Outlook
Traders should keep a close watch on Banking and NBFC stocks, as they are expected to remain in focus. Despite global concerns, the Indian market outlook stays cautiously bullish with strong domestic fundamentals supporting upward momentum.
