Choppy markets always push us to evaluate new scenarios. Last week we saw the markets move higher but the constant volatile nature of the market forced us to look at every sector only for a limited timeframe. The strong sector rotation that emerges lead to some stock specific action which demanded that all were clear about what’s happening. Result season is underway and new can of worms will open up and we need to see how the market reacts to these new numbers especially when lockdown was in full swing.
NYKAA: Buy above ₹345, stop ₹330 target ₹379 (Multiday)
ANANDRATHI: Buy above ₹2160, stop ₹2060 target ₹2350 (Multiday)
Between 12 October and 16 October 2026, Indian equities experienced a volatile but ultimately positive week, marked by sharp swings and sectoral divergence. On October 12, benchmarks slipped, with Sensex closing at 71,924.68 and Nifty at 22,363.35, dragged by weakness in PSU banks and telecom, though small-caps outperformed. The following day, October 13, markets staged a strong rebound, led by IT stocks after HCL Tech’s earnings beat, with Nifty surging 1.6% to 22,721.95 and Sensex climbing 1,109 points to 73,033.78. Sectoral breadth was strong, with all indices in the green except pharma, while India VIX dropped nearly 8%, signaling easing near-term uncertainty.
On 14 October, profit-booking returned, with Nifty slipping 0.44% to 22,622.70, reflecting cautious sentiment despite resilience in select sectors. October 15 saw a sharp rally, with Sensex hitting 74,144 intraday and Nifty crossing 23,000, driven by large-cap buying in banks, IT, and Reliance. The surge coincided with global weakness in AI-driven markets like South Korea and Taiwan, prompting expectations of FII flows shifting back to India.