Mumbai, Oct 25: The holiday-truncated week saw festive-driven optimism and upbeat consumer sentiment as it welcomed the Samvat 2082. However, the momentum gradually lost its steam, as geopolitical tensions and profit-taking weighed on investors’ confidence.

Record festive sales underscored India’s surge in consumer demand this season, powered by resilient household spending and GST-driven affordability.

PSU banking stocks led the rally, buoyed by news of potential consolidation and better-than-expected results.

According to Vinod Nair, Head of Research, Geojit Investments Ltd, the precious metals market faced extreme volatility, suffering its sharpest single day fall in over a decade, driven by profit booking and a strengthening US dollar.

Crude oil prices surged sharply following fresh sanctions from the US and EU on Russian oil majors, sparking heightened fears of tightening global supply and renewed inflation concerns.

Stock markets ended lower on Friday, breaking a six-day winning streak, as investor sentiment weakened amid weal global cues.

The Nifty index ended the week on a flat note, gaining 85 points after a strong upward move. On the weekly timeframe, the index corrected nearly 311 points from its high, making it a volatile session and suggesting a phase of consolidation after recent sharp gains.

Nifty witnessed temporary profit booking, slipping below the 25,800 mark and eventually closing at 25,795.15, indicating a pause in momentum as traders booked profits at higher levels.

“Currently, Nifty continues to trade above its 20-day, 50-day, and 200-day EMAs, highlighting a strong underlying bullish structure and sustained trend strength. On the weekly timeframe, the RSI stands at 61.60 and is trending sideways, indicating a neutral-to-positive bias with potential for renewed momentum once consolidation ends,” said Hardik Matalia, Derivative Analyst-Research at Choice Equity Broking Pvt Ltd.

Bank Nifty ended the week on a flat note, closing at 57,699, after hitting a new lifetime high amid a highly volatile trading week. The index displayed notable strength by surpassing its previous peak of 57,628, but subsequently witnessed a correction of nearly 870 points from the week’s high, indicating profit-taking at higher levels.

According to analysts, investors should remain watchful of developments in the India-US trade negotiations, as both sides edge closer to finalising a deal.

New Delhi, Oct 25: India will continue to engage constructively with the United Nations (UN) to advance peace, sustainable development and the voice of the Global South, according to Union Minister Manohar Lal.

In his address at the 80th United Nations Day celebrations as the chief guest at an event here, the minister highlighted the UN’s remarkable contributions over the past eight decades in preventing conflicts, promoting international law, and supporting the development of nations left behind.

Referring to the theme “One Earth, One Family, One Future” — a concept rooted in India’s G20 Presidency — Manohar Lal emphasised the importance of shared global responsibility and cooperation to address interconnected challenges.

The minister reaffirmed India’s deep partnership with the UN, citing initiatives such as the India-UN Development Partnership Fund and the India-UN Global Capacity Building Initiative as examples of India’s action-oriented approach and commitment to South–South cooperation.

Paying tribute to Indian peacekeepers who made the supreme sacrifice in UN missions, he reiterated India’s unwavering stand against terrorism and its call for reforms in the UN, particularly the expansion of the UN Security Council to make it more inclusive and representative.

Earlier, External Affairs Minister S. Jaishankar said that ‘all is not well’ within the United Nations and that its decisions do not address global priorities. He pointed out how a UN Security Council member protected the terror group that claimed responsibility for the April 22 Pahalgam attack.

While launching a postage stamp to commemorate the 80th anniversary of the United Nations in New Delhi, EAM Jaishankar recalled the sacrifices of Indian UN peacekeepers and spoke about the recently hosted Chiefs of Army Staff conclave in the national capital, which witnessed participation from 30 troop-contributing countries.

He further said, “That said, we must also recognise that all is not well with the United Nations. Its decision-making neither reflects its membership nor addresses global priorities. Its debates have become increasingly polarised and its working visibly gridlocked.”

Mumbai, Oct 24: India’s foreign exchange reserves rose by $4.5 billion to $702.3 billion for the week ended October 17, mainly driven by an increase in the value of gold reserves, according to data released by the Reserve Bank of India (RBI) on Friday.

India’s gold reserves held by the RBI as part of the country’s foreign exchange reserves surged by $6.2 billion to surpass the $108.5 mark for the first time on the back of a sharp rise in the price of the precious metal and increased purchases by the central bank.

Foreign currency assets, the largest part of the reserves, fell by $1.7 billion to $570.4 billion during the week. These assets are affected by changes in the value of currencies such as the euro, pound, and yen.

India’s reserve position with the International Monetary Fund (IMF) declined by $30 million to $4.62 billion during the week, RBI data showed.

The share of gold in India’s foreign exchange reserves has almost doubled over the past decade – from below 7 per cent to nearly 15 per cent – reflecting both steady central bank accumulation and a surge in global bullion prices. This is the highest proportion of gold in the country’s total reserves since 1996-97, according to market analysts.

Gold prices have shot up by as much as 65 per cent in 2025 due to the increased demand for the precious metal as a safe haven asset amid rising geopolitical uncertainty in the Middle East and the trade wars triggered by the US tariff hikes.

Central banks worldwide have accumulated substantial amounts of gold as a safe-haven asset in their foreign exchange reserves amid uncertainty created by geopolitical tensions. The share of gold maintained by the Reserve Bank of India as part of its foreign exchange reserves has almost doubled since 2021.

The RBI has added approximately 75 tonnes to its gold reserves since 2024, bringing its total holdings to 880 tonnes, which now constitute about 14 per cent of India’s total foreign exchange reserves, according to a Morgan Stanley report.

India is the world’s second-largest consumer of gold, next only to China and relies on imports to meet demand. Buying gold is deeply rooted in Indian culture and is used in large quantities in the form of jewellery gifts for the bride and bridegroom during wedding ceremonies. It also constitutes an important channel of safe-haven investment and a status symbol for families and individuals.