Latest Stock Market News

Indian stock markets experienced a dip on Friday, breaking a six-day winning streak as investors cashed in on recent gains. Both the Sensex and Nifty retreated from near-record highs, a pause following a rally driven by hopes of easing global trade friction and anticipated corporate earnings growth. The Sensex lost 344.52 points, closing at 84,211.

The Indian Rupee saw a slight uptick of 10 paise against the US Dollar, finishing at 87.78 on Friday. This increase was fueled by encouraging news from trade negotiations between India and the US, combined with declining crude oil prices, which proved beneficial for the local currency.

This indicates strong buying pressure throughout the session.

Shares of oil and gas firms including Oil India, ONGC, Indian Oil, and BPCL are in focus after crude oil surged over 5% overnight, heading for its strongest weekly gain since mid-June. The rally followed U.S. sanctions on Russia’s top oil producers, raising supply concerns. Analysts cite OPEC+ meetings and U.S.-India talks on Russian oil as key near-term factors.

Defence stocks rallied as the Defence Acquisition Council approved capital acquisition proposals worth approximately Rs 79,000 crore for the Indian Army, Navy, and Air Force. These approvals aim to bolster India s defence preparedness with advanced weapons systems, mobility platforms, and surveillance equipment across all domains.

Hero MotoCorp shares: The company enters the UK market, launching its Euro 5+ Hunk 440 motorcycle through a partnership with MotoGB, marking its 51st global market.

Premier Energies and Syrma SGS Technologies will be in focus on October 24 after announcing a joint acquisition of Pune-based solar inverter maker KSolare Energy for Rs 170 crore. Premier Energies will take a 51% stake and Syrma SGS 49%, with KSolare becoming a subsidiary of Premier Energies. The deal is expected to close within 90 days, subject to approvals.

Reliance Retail has entered India’s 10-minute delivery race with JioMart, leveraging 3,000 stores as delivery hubs and 600 dark stores in top cities. The platform added 5.8 million customers in one quarter, recording 42% sequential growth and a 200% YoY jump in daily orders, signaling a major push into quick commerce and intensified competition with Blinkit, Zepto, and Swiggy Instamart.

Indian stock markets opened on a subdued note this Friday. The Sensex and Nifty saw a slight dip after reaching near record highs. The rally from Thursday lost momentum as optimism about a US-India trade deal waned. The Indian government did not confirm reports of an imminent agreement. Markets are now awaiting further developments.

Five largecap stocks — Infosys, TCS, Info Edge, LIC, and Tech Mahindra — showed a bullish upswing in their Relative Strength Index (RSI) on October 23, indicating strengthening price momentum and potential upward movement, according to data from stockedge.com.