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Wall Street reaps weekly gains amid Fed announcement, economic data

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US equities advanced for the week as Wall Street parsed the Federal Reserve’s tapering announcement and a slew of economic data.

For the week ending Friday, the Dow rose 1.4 per cent, the S&P 500 increased 2 per cent, and the tech-heavy Nasdaq rallied nearly 3.1 per cent, Xinhua news agency reported.

The S&P US Listed China 50 index, which is designed to track the performance of the 50 largest Chinese companies listed on US exchanges by total market cap, logged a weekly decline of 0.7 per cent.

In a highly anticipated move, the Federal Reserve announced this week that it would begin unwinding, often referred to as “tapering,” its monthly bond and mortgage security purchases amid great concerns over elevated inflation levels.

“Inflation is elevated, largely reflecting factors that are expected to be transitory. Supply and demand imbalances related to the pandemic and the reopening of the economy have contributed to sizable price increases in some sectors,” the Federal Open Market Committee (FOMC), the Fed’s policy-making committee, said in a statement after a two-day policy meeting.

In light of the “substantial further progress” the US economy has made toward the Fed’s goals since December 2020, the committee decided to begin reducing the monthly pace of its net asset purchases by $10 billion for US Treasury securities and $5 billion for agency mortgage-backed securities, according to the statement.

Meanwhile, the Fed included the usual caveat that the taper pace could change if the FOMC deems it advisable.

“The FOMC statement was almost unchanged in November with the exception of a taper to begin in November and to follow exactly the path laid out in the September minutes,” Chris Low, Chief Economist at FHN Financial, said on Wednesday.

“The tweak to the inflation language does not change the meaning but offers an explanation of the transitory factors the Fed believes underlie inflation pressures,” he added.

Analysts at Zacks Investment Management noted that “the Fed is intentionally winding down its programs slowly, while widely telegraphing its plans to the market,” adding “the taper and associated tightening are poised to happen very slowly, which should give the markets ample time to adjust.”

Investors also sifted through the latest payroll data to assess the shape of US labor market.

The US Labor Department reported on Friday that US employers added 531,000 jobs in October, higher than a gain of 450,000 jobs expected.

The latest data followed upwardly revised job gains of 312,000 in September, and upwardly revised job gains of 483,000 in August, when labor market recovery slowed amid a Delta variant-fueled Covid-19 surge.

The unemployment rate edged down by 0.2 percentage points to 4.6 per cent in October, after dropping by 0.4 percentage points in September. The figure was down considerably from its recent high in April 2020, yet remained well above the pre-pandemic level of 3.5 per cent.

The labor force participation rate was unchanged at 61.6 per cent in October and has remained within a narrow range of 61.4 per cent to 61.7 per cent since June 2020, according to the report. The participation rate is still 1.7 percentage points lower than that of February 2020.

A separate report by the Labor Department on Thursday showed that US initial jobless claims, a rough way to measure layoffs, registered 269,000 in the week ending October 30, a decrease of 14,000 from the prior week’s revised level. Economists polled by The Wall Street Journal had estimated new claims would total a seasonally adjusted 275,000.

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Committed to boosting Mumbai’s infrastructure, ease of living: PM Modi

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October 8, 2025

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Mumbai, Oct 8: Prime Minister Narendra Modi on Wednesday reaffirmed his government’s commitment to enhancing Mumbai’s infrastructure and the ‘Ease of Living’ as he is set to inaugurate Phase-1 of the Navi Mumbai International Airport (NMIA) and the Mumbai Metro Line-3.

In a post on X, PM Modi said, “On the way to Navi Mumbai to take part in the programme marking the inauguration of Phase-1 of the Navi Mumbai International Airport. With this, the Mumbai Metropolitan Region will get its second major international airport, thus boosting commerce and connectivity.”

“The final phase of the Mumbai Metro Line-3 will also be inaugurated. We are committed to enhancing Mumbai’s infrastructure and boosting ‘Ease of Living’ for the people of this dynamic city,” he added.

Phase-1 of the Navi Mumbai International Airport, developed at an estimated cost of Rs 19,650 crore, will be inaugurated by the Prime Minister in line with his vision of transforming India into a global aviation hub.

The Navi Mumbai International Airport is India’s largest Greenfield airport project, developed under a Public-Private Partnership (PPP) model. As the second international airport for the Mumbai Metropolitan Region, it will work in coordination with the Chhatrapati Shivaji Maharaj International Airport (CSMIA) to reduce congestion and position Mumbai among global cities with multi-airport systems.

Spread across 1,160 hectares, NMIA is designed to be one of the most efficient airports in the world, capable of handling up to 90 million passengers per annum and 3.25 million metric tonnes of cargo.

Among its standout features is an Automated People Mover (APM) system that will connect all four passenger terminals to facilitate smooth inter-terminal transfers. A landside APM will also link the city-side infrastructure, ensuring convenience for passengers and staff.

Committed to sustainability, the airport will include storage for Sustainable Aviation Fuel (SAF), solar power generation of nearly 47 MW, and electric bus services for city-wide connectivity. NMIA will also become the country’s first airport to be connected by a Water Taxi service.

In addition to the airport, PM Modi will inaugurate Phase 2B of the Mumbai Metro Line-3, which stretches from Acharya Atre Chowk to Cuffe Parade and has been constructed at an estimated cost of Rs 12,200 crore.

With this launch, the Prime Minister will dedicate the entire Mumbai Metro Line-3 (Aqua Line) to the nation. Built at a total cost exceeding Rs 37,270 crore, this milestone marks a major leap forward in the city’s urban transport infrastructure.

Mumbai Metro Line-3, the city’s first fully underground metro line, is set to redefine commuting in the Mumbai Metropolitan Region by offering faster, more efficient, and eco-friendly transport options for millions of daily commuters.

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Sensex, Nifty open marginally higher; IT stocks lead gains

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October 8, 2025

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Mumbai, Oct 8: The Indian stock markets opened slightly higher on Wednesday amid mixed movement in key stocks on Dalal Street.

The Sensex rose 63 points or 0.08 per cent to 81,990, while the Nifty gained 16 points or 0.06 per cent to trade at 25,124 in early deals.

Titan emerged as the top gainer on the Sensex, rising around 4 per cent intra-day after the company released its Q2 FY26 business update.

Other major gainers included Infosys, TCS, Tech Mahindra, HCL Tech, Asian Paints, and Trent, which climbed up to 2 per cent.

On the other hand, Tata Motors, Power Grid, BEL, HUL, Sun Pharma, and Kotak Bank were among the top losers, slipping up to 1 per cent.

In the broader markets, performance remained subdued. The Nifty MidCap index rose 0.19 per cent, while the Nifty SmallCap index was up 0.23 per cent.

Among sectoral indices, IT stocks led the gains, with the Nifty IT index advancing 1.2 per cent on the NSE.

The Nifty Pharma and Metal indices also moved up by 0.4 per cent each. However, Nifty Realty and Nifty PSU Bank indices were under pressure, falling 0.36 per cent and 0.27 per cent, respectively.

Analysts said the market is likely to remain stock-specific this week as investors track Q2 earnings updates and global cues.

“The ongoing mild rally in the market has support from institutional investment. FIIs turning buyers yesterday is a positive development,” market experts added.

“There are reports of unprecedented demand and sales of automobiles and consumer durables in this festival season. These will be reflected only in the Q3 results. So watch out for the high frequency data from the real markets,” they added.

“Given the prevailing uncertainty and heightened volatility, traders are advised to maintain a cautious ‘buy-on-dips’ stance, particularly in leveraged positions,” as per the experts.

Market experts said that fresh long positions should be considered only if the Nifty sustains above the 25,250 mark.

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Sensex, Nifty extend gains on buying in heavyweights

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October 7, 2025

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Mumbai, Oct 7: Indian stock markets continued their upward trend on Tuesday, supported by buying in major stocks such as ICICI Bank, ITC and more.

However, profit booking in select banking stocks limited the overall gains during the early trading hours.

The Sensex, which rose more than 100 points in early trade, was trading at 81,843, up 52 points or 0.06 per cent.

The Nifty also gained 34 points or 0.14 per cent to reach 25,112 after hitting an intra-day high of 25,140.

Among the top gainers on the Sensex were Power Grid, Bajaj Finance, HCL Tech, Bharti Airtel, ICICI Bank, Ultratech Cement, NTPC, Hindustan Unilever, Bajaj Finserv, and BEL, which rose between 0.3 per cent and 1.6 per cent.

On the other hand, Trent, Axis Bank, Tata Motors, TCS, SBI, Kotak Bank, Tech Mahindra, HDFC Bank, and Infosys were among the major losers, slipping up to 2.7 per cent.

In the broader market, the Nifty MidCap index gained 0.08 per cent, while the Nifty SmallCap index rose 0.41 per cent — showing continued interest from investors in smaller companies.

Among sectoral indices, Nifty Metal and Nifty IT were the top performers, each gaining 0.4 per cent.

The Nifty PSU Bank index was the worst hit, falling 0.3 per cent due to profit booking in public sector lenders.

Analysts said that overall market sentiment remains positive, though some volatility may persist due to profit-taking at higher levels.

“The ongoing mild rally in the market has the potential to gain momentum. The FII selling in India is slowly declining since the sharp appreciation in other markets has pushed up their valuations and the valuation differential between India and other markets has come down,” analysts said.

“Since there is huge short position in the market any positive news can trigger short-covering, further aiding the rally,” they added.

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