Indian markets extend two-week winning streak on earnings focus

The Indian stock market closed its second straight week of gains on Friday, with the Sensex and Nifty 50 rising for the second consecutive week. Both equity benchmarks ended higher on Friday, October 16, with the BSE Sensex ending at 74,729.27, up 417.99 points (0.56%), while the Nifty 50 settled at 23,146.15, gaining 148.40 points (0.65%). Over the week, the Sensex climbed 2,256.94 points (3.11%), and the Nifty advanced 625.70 points (2.77%). IT stocks led the rally, while oil and gas shares lagged.

Key Stocks to Watch on October 19

Trading will resume on Monday after a Dussehra market holiday on Tuesday, October 20, shortening the trading week. Several major companies will report earnings, making their shares a focus for investors. Among them, Bajaj Finance will announce its Q2 FY27 results on Monday, with the company also planning to raise up to ₹17,500 crore via a qualified institutional placement (QIP) and convertible warrants, subject to shareholder approval.

Hindustan Zinc and UltraTech Cement will also report quarterly results, drawing attention from investors tracking metal and cement sector performance. Hindustan Zinc’s board is scheduled to consider its quarterly results on October 19, while UltraTech Cement’s earnings will be closely monitored for sector trends. Meanwhile, HDFC Bank has already released its September-quarter results, showing a 4.7% year-on-year rise in net profit to ₹19,510 crore, though slightly below expectations.

Other financial stocks in focus include ICICI Bank, which reported a 20.1% profit jump to ₹14,843 crore in standalone net profit, with consolidated profit after tax increasing to ₹16,333 crore. Axis Bank saw its consolidated profit grow 39.4% to ₹7,704.67 crore, while its standalone profit after tax rose 38% to ₹7,003 crore. Union Bank of India and IREDA will also release Q2 FY27 earnings, with IREDA’s results drawing particular interest ahead of its quarterly update.

In the broader market, the Nifty IT index posted its best weekly performance in 18 years, reflecting strong demand for technology stocks. Meanwhile, oil and gas shares remained under pressure, contrasting with the overall market gains.