Market Overview: Gains
The Indian stock market experienced a positive trend, with the Sensex closing with a gain of 484 points, and the Nifty surpassing the 25,700 mark. Several
companies reported significant earnings, which further propelled the market upwards. Axis Bank's Q2 earnings also boosted the Bank Nifty above 57,200. Analysts are now eyeing 57,500 as the next level of resistance. Additionally, the Nifty hit a fresh 52-week high, indicating a strong performance during the period. The Diwali rally also contributed positively to the market's upward trajectory.
Gold and Silver Trends
The gold market exhibited gains in its pricing, with rates increasing on October 17th. Check 22 and 24-carat gold prices in major cities like Delhi, Mumbai, and Pune. There was a notable difference, with the price of silver in Ahmedabad being Rs 17,000 lower than in Visakhapatnam. Furthermore, experts projected a potential price drop in the future, suggesting a favorable time to buy. Dhanteras 2025 will be a key event with the latest gold rates and prices. Notably, Silver ETFs have shown significant returns, doubling investor returns in 2025, which indicates the continuation of the rally.
IPO and Investment
Several IPOs recently made headlines. The Midwest IPO received a subscription of 1.9 times on its first day. LG Electronics IPO also gained popularity, with a high subscription rate and a rise in the Grey Market Premium (GMP) before listing. The market anticipates the listing price of the LG Electronics IPO, based on the oversubscription of 54 times and the jump in GMP. Furthermore, the Indian F&B sector is expected to see a Rs 9,000 crore IPO boom, driven by surging demand. Experts provided insights into the tax implications of gifting property to a spouse, noting that while allowed, it might be inadvisable. Also, an increase was observed in the returns for those who bought gold worth Rs 1 lakh last year, with returns of Rs 55,000.
Tax Updates and Deadlines
Several important tax-related announcements and deadlines were highlighted. The income tax audit deadline for the year 2025 was extended until October 31st. Moreover, the Central Board of Direct Taxes (CBDT) clarified the tax rebate on special-rate incomes. There were also discussions on the tax implications of equity gifts for children, covering Demat transfers and capital gains. Information was also shared regarding the GST Annual Return filing for the fiscal year 2025, including new rules, turnover limits, and compliance tips. Additionally, taxpayers needed to be aware of the tax audit ITR due date and whether the CBDT might extend the return filing deadline beyond October 31. The government is expected to notify rules under the new Income Tax Act by the end of December 2025.
Company Performance
Several companies announced their quarterly results and important updates. Infosys declared an interim dividend of Rs 23 per share, with the record date for this dividend already set. Reliance Industries reported a 14% increase in profit, fueled by strong growth in refining, retail, and digital units. Reliance Retail's net profit rose to Rs 3,457 crore, experiencing a 21.9% year-on-year increase. RIL's O2C Q2 results showed revenue rising by 3.2% to Rs 1.60 lakh crore, and EBITDA was up 21%. Furthermore, IndusInd Bank clarified a Rs 255-crore accounting irregularity, stating it was not part of any new probe. Also, Wipro saw a drop of 4.6% after its Q2 results, being a top Nifty 50 loser, prompting Jefferies to flag the risk-reward as 'unattractive'.
