Indian markets round-up for the week ending 25 October 2026

Indian equity markets saw broad declines during the holiday-shortened trading week, marked by ongoing foreign institutional selling across both benchmark and mid-cap indices. At the same time, India's primary market recorded historic participation volumes, while regulators addressed unregistered advisory practices and market infrastructure.

Here is a review of ten key developments that shaped the week.

Benchmark indices retreat as institutional outflows continue

The Nifty 50 declined across all four trading sessions of the holiday-shortened week, touching an intraweek low of 22,372 before closing 2.4% lower at 22,600. Foreign institutional investors remained net sellers of Indian equities for the tenth consecutive week. Selling expanded into the broader market: the Bank Nifty dropped 2.8%, while the Nifty Midcap 100 and Nifty Smallcap 100 recorded steeper losses of 5.6% and 7.3%, respectively.

Sustained selling by large institutions often tests market liquidity, especially in mid-cap and small-cap segments where trading volumes are typically lower than in blue-chip shares.

Source: Economic Times

Reliance Jio Platforms closes record-setting initial public offer

The initial public offering (IPO) of Reliance Jio Platforms drew substantial interest, closing with an overall subscription rate of 22.19 times and receiving nearly 1.4 crore applications. The issue was fully subscribed within 100 minutes of opening. By total capital raised, the offering surpassed Hyundai Motor India's ₹27,870-crore issue in 2024 to become India's largest public offering, with an estimated post-listing market capitalisation of ₹10.30 lakh crore at the upper end of its price band.

Large public issues absorb significant capital from institutional and retail investors, temporarily shifting liquidity from existing stocks toward the new issue.

Source: Economic Times

SEBI orders ₹546 crore refund in unregistered advisory case

The Securities and Exchange Board of India (SEBI) directed Avadhut Sathe and the Avadhut Sathe Trading Academy to refund ₹546.18 crore, alongside accrued interest, to investors. The regulator noted that the academy offered unregistered investment advisory and research services while operating ostensibly as an educational training platform. SEBI also imposed ₹11.5 crore in financial penalties, citing the circulation of misleading testimonials while concealing clients' net trading losses.

Under Indian law, anyone offering specific investment recommendations must hold formal registration with SEBI, which enforces mandatory disclosure and qualification standards to protect savers.

Source: Economic Times

Regulator outlines plans for Demat 2.0 and bond trading

SEBI revealed plans to roll out an updated framework titled Demat 2.0, which will feature the introduction of tokenised corporate bonds available for secondary-market trading. Alongside this, the capital markets regulator is working on a graded compliance framework designed for registered stockbrokers.

Tokenising corporate debt divides fixed-income instruments into standard digital units, with the objective of making company bonds easier for smaller market participants to trade on secondary exchanges.

Source: BusinessLine

NSE highlights emerging cybersecurity and quantum computing risks

National Stock Exchange (NSE) Managing Director and CEO Ashish Kumar Chauhan warned market intermediaries of emerging vulnerabilities tied to quantum computing and artificial intelligence. He highlighted that rapid advances in quantum processing could compromise traditional cryptographic standards, such as standard SSL protocols, at a time when the aggregate valuation of the Indian stock market stands at ₹460 lakh crore.

As financial transactions become purely digital, exchange clearing houses and depositories must continuously update cryptographic safeguards to ensure market infrastructure remains secure.

Source: BusinessLine

Finance Ministry urges structural governance shifts in brokerage industry

Dr. Alok Tiwari, Joint Secretary at the Ministry of Finance, addressed stockbrokers and intermediaries at an industry event organised by the Association of National Exchanges Members of India (ANMI) and the NSE. He urged brokerage firms to move away from legacy family-run operating styles and adopt institutional corporate governance models to build long-term trust.

Because retail brokerages custody client margins and process high daily transaction volumes, stronger corporate governance helps prevent operational defaults during periods of market stress.

Source: BusinessLine

Mixed second-quarter trends across major information technology firms

Earnings reports for the July–September quarter showed diverging fortunes across India's largest software services exporters. Tech Mahindra posted the fastest growth in profit and revenue, Tata Consultancy Services led in large deal wins, and Infosys reported higher quarterly revenue with artificial intelligence work accounting for 10.5% of total sales. However, Infosys lowered its fiscal 2027 revenue growth guidance on cautious enterprise spending and pricing pressure, while Wipro recorded softer profit trends.

Information technology providers rely heavily on discretionary corporate spending in overseas markets, making their financial guidance an indicator of broader corporate confidence abroad.

Source: Mint

Banking results show earnings expansion and improving credit quality

Private banking institutions reported expanding quarterly earnings alongside improving loan books. Kotak Mahindra Bank logged a 26% year-on-year increase in consolidated profit after tax to ₹5,645 crore, supported by a 16% rise in net interest income to ₹8,459 crore. Simultaneously, AU Small Finance Bank posted a 53% increase in net profit to ₹858 crore as its gross non-performing assets (NPAs)—the proportion of loans overdue or in default—fell 42 basis points to 1.99%.

Improving non-performing asset ratios indicate that borrowers are repaying loans on schedule, which allows banks to set aside less money for potential bad debts and maintain higher lending capacity.

Source: Economic Times

Domestic gold prices see sharp weekly drop

Domestic gold prices retreated during the week as rising energy costs, ongoing inflation concerns, and expectations of higher interest rates from the United States Federal Reserve weighed on the metal. Multi Commodity Exchange (MCX) gold futures dropped approximately 3.5%, while retail 24-karat gold prices in Chennai declined 3.85% over the week to reach ₹1,42,480 per 10 grams.

Bullion generally yields no ongoing interest, meaning that higher interest rate expectations and elevated bond yields globally tend to dampen investor demand for physical precious metals.

Source: Mint

Silver declines below ₹2 lakh per kilogram milestone

A sharp market correction brought silver prices below ₹2 lakh per kilogram for the first time since December 2025. The sell-off wiped out the metal's price gains accumulated across 2026, leaving trading levels more than 50% below the peak prices reached in January.

Silver carries dual characteristics as both a monetary metal and an industrial raw material, which means that shifting manufacturing demand and monetary policy cues can create pronounced price swings.

Source: Mint

A single week in financial markets brings a heavy stream of company announcements, commodity swings, and regulatory orders. For household savers working toward financial milestones years or decades away, seven days of volatile prices represent short-term noise rather than a change in underlying principles.