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Opening Bell: Markets Trade Flat; Sensex Above 66,000, Nifty At 19,616.80

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The markets on Tuesday morning opened higher with Sensex at 66,008.46, up by 54.98 points and Nifty was comparatively flat at 19,616.80 with a gain of 19.50 points. Tata Motors, NTPC, UltraTech Cement, State Bank of India and L&T were the top gainers in the morning session, whereas Power Grid, IndusInd Bank, Tata Steel, Mahindra and Mahindra and Reliance were among the losers.

Adani Ports, Siemens, Hindalco and Coal India shares will be in focus today as they announce their first quarter results.

Markets on Friday

The benchmark indices ended on a positive note on Monday. The Sensex was up 232.23 points to end the day at 65,953.48 and the Nifty was up 80.30 points at 19,597.30. Nifty Bank slips 42 points at 44,837.50.

Global markets

US markets closed higher on Monday as investors prepare for the US inflation data that is to be released on Thursday. The Dow Jones Industrial Average gained 407.51 points at 35,473.13, the S&P 500 closed 40.41 points higher at 4,518.44 and Nasdaq Composite shed 85.16 points at 13,994.40.

The Asian stock markets were trading mixed on Tuesday with South Korea’s KOSPI shedding 7.35 points at 2,573.36 and GIFT Nifty exchange lost 47 points to trade at 19,634.50, Hong Kong’s Hang Seng lost 287.72 points to 19,250.20. However, Japan’s Nikkei 225 added 2.87 points to 32,257.43.

Oil prices extended gains on Tuesday morning over Russia and Saudi’s decision to tighten supply for another month to support prices. Brent crude futures for October gained 37 cents to $85.71 per barrel and US West Texas Intermediate crude rose to $82.37 per barrel up by 43 cents.

Rupee

Indian rupee opened lower on Tuesday at 82.79 per dollar against Monday’s close of 82.74.

Business

India’s forex reserves surge by $4.5 bn to cross $702 bn mark

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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.

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Sensex, Nifty open lower amid US-China trade tension

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Mumbai, Oct 24: Indian stock markets opened lower on Friday amid reports that the United States may launch a fresh investigation into China over their 2020 trade deal.

Rising oil prices, driven by new US sanctions against Russia, also weighed on investor sentiment.

At the opening bell, the Sensex was down 113 points, or 0.13 per cent, at 84,443, while the Nifty slipped 27 points, or 0.10 per cent, to 25,866.

Commenting on Nifty’s technical outlook, analysts said, “The index continues to exhibit a sideways to bullish bias, holding firmly above key support levels at 25,700 and 25,750.”

“Immediate resistance is placed at 25,950, with further upside targets at 26,000 and 26,100. The overall trend remains bullish, provided the index sustains above 25,780 on a closing basis,” they added.

Heavyweights such as Hindustan Unilever, Kotak Bank, Axis Bank, Titan, Power Grid, ITC, NTPC, Tech Mahindra, Maruti Suzuki, and Axis Bank were among the top laggards, losing up to 3.5 per cent.

On the other hand, ICICI Bank, Tata Steel, Bharat Electronics (BEL), Mahindra & Mahindra, Bharti Airtel, HDFC Bank, and State Bank of India were trading in the green, helping limit the overall losses.

In the broader markets, buying activity continued as the Nifty MidCap index inched up 0.05 per cent, and the Nifty SmallCap index added 0.09 per cent.

Sector-wise, metal stocks were the top performers, with the Nifty Metal index rising 1 per cent, followed by modest gains in the Realty and Financial Services indices.

However, FMCG stocks faced pressure, with the Nifty FMCG index falling 1.4 per cent, making it the biggest sectoral loser of the day.

“Given the current setup of heightened volatility and mixed market signals, traders are advised to adopt a cautious “buy-on-dips” approach, especially when using leverage,” market analysts said.

Booking partial profits during rallies and maintaining tight trailing stop-losses will be key to managing risk effectively, as per the analysts.

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Colgate-Palmolive India’s Q2 profit falls 17 pc, revenue slips over 6 pc

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Mumbai, Oct 23: Colgate-Palmolive (India) Limited on Thursday reported a 17 per cent drop in its net profit for the second quarter of the current financial year (Q2 FY26).

The company’s profit stood at Rs 327.50 crore for the quarter ended September 2025, compared to Rs 395.05 crore in the same period last financial year (Q2 FY25), according to its stock exchange filing.

Revenue also fell 6.15 per cent year-on-year (YoY) to Rs 1,519.50 crore, down from Rs 1,619.11 crore in the previous fiscal.

Operating income or EBITDA declined 6 per cent to Rs 465.43 crore, while the EBITDA margin was almost unchanged at 30.6 per cent, compared to 30.7 per cent last financial year.

Prabha Narasimhan, Managing Director and CEO of Colgate-Palmolive India, said the quarter’s performance reflected a temporary impact from disruptions among distributors and retailers due to the GST rate revision.

She added that the company has worked with its partners to ensure consumers benefit from the lower prices that took effect after the tax change.

“Despite the short-term challenges, we remain focused on our long-term strategic goals and will continue to invest in our brands,” Narasimhan said.

Alongside the results, the company announced a first interim dividend of Rs 24 per share for the financial year 2025–26, amounting to a total payout of Rs 652.8 crore.

The record date for the dividend has been set as November 3, and the payment will be made on or before November 19, according to the company’s exchange filing.

Colgate-Palmolive (India)’s quarterly results were released after market hours. On Thursday, its shares closed 1.16 per cent higher at Rs 2,286.90 on the NSE.

However, the stock has fallen 31.35 per cent over the past year and 14.69 per cent so far in 2025.

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