On October 24, 2025, global markets painted a picture of both resilience and volatility as investors digested a flurry of earnings reports, economic data, and sector-specific developments. While India’s Sensex and Nifty indices wavered in a narrow band, U.S. stocks surged to new heights, buoyed by a softer-than-expected inflation report and robust performances from technology giants. It was a day that showcased the intricate dance of optimism and caution that defines today’s financial landscape.
In Mumbai, the Sensex slipped 89.10 points, settling near 84,400, while the Nifty dipped 54.05 points to hover around 25,800, according to Financial Express. The Indian market seemed reluctant to pick a direction, with the Nifty flipping between red and green throughout the trading session. Metals stocks provided a rare bright spot, while fast-moving consumer goods (FMCG) names dragged the indices lower. Defence and shipping stocks, however, picked up momentum, signaling shifting investor preferences as the week drew to a close.
Among the day’s notable movers was Hindustan Unilever (HUL), whose shares dropped over 3% after the company announced its Q2 FY26 results. The decline followed a significant GST rate change, which saw nearly 40% of HUL’s portfolio shift to a lower 5% tax slab. This forced the company to implement price and grammage changes across more than a thousand stock-keeping units (SKUs). While home care volumes grew modestly, HUL’s beauty, personal care, and ice-cream lines remained weak. Jefferies, the global brokerage, trimmed its FY26–FY27 earnings forecasts for HUL by around 3% but maintained a ‘Buy’ rating, setting a target price of Rs 3,050—about 18% above current levels. The mood, as analysts put it, was one of “near-term weakness, long-term patience.”
Colgate-Palmolive (India) also faced investor disappointment, with its share price falling 3.8% to Rs 2,200 after posting a decline in Q2 profit. Even though margins held steady, the market was looking for strong volume recovery—a hope that went unfulfilled. As a result, investors grew apprehensive about immediate growth triggers for the consumer goods giant.
Meanwhile, defence stocks extended their rally. Bharat Dynamics rose over 2%, while Bharat Electronics and Hindustan Aeronautics each gained nearly 1%. The Nifty India Defence Index climbed 1.14%, trading at 8,255. Cochin Shipyard and Paras Defence added nearly 3% each, Mazagon Dock and Bharat Forge saw moderate gains, and Swan Defence locked in a 5% upper circuit. The enthusiasm in the defence sector underscored a growing confidence in India’s strategic industries amid broader market uncertainty.
Metal stocks, for their part, stood out as the day’s winners. NALCO jumped 5.3% to Rs 240, Hindalco soared 4.3% to an all-time high of Rs 826, and Vedanta gained 3.7% to Rs 501. On the London Metal Exchange, aluminium traded at $2,810 per tonne, up 1% after reaching its highest level since mid-2022. This surge followed reports of a major output cut at Century Aluminium’s Iceland smelter due to electrical equipment failure, which raised concerns about global supply. The steady buying in metal stocks reflected optimism about restructuring plans and improving freight activity in the sector.
Thyrocare Technologies also made headlines, with its share price rising 1.75% to Rs 1,273.80 after a significant promoter transaction. Docon, the company’s promoter group entity, sold 5.33 million shares worth approximately Rs 667 crore at an average price of Rs 1,252.03 per share. This reduced Docon’s holding from 70.98% to 60.93%. Despite the stake cut, Docon remains a promoter, and the stock held firm, valuing the diagnostics chain at around Rs 6,700 crore. Over the past six months, Thyrocare’s stock has gained more than 50%, trading near the upper band of its 52-week range.
Across the globe, U.S. markets enjoyed a much sunnier disposition. According to TheStreet, the Russell 2000 led the way, climbing 1.27% after a soft Consumer Price Index (CPI) report hinted at another interest rate cut at the Federal Reserve’s upcoming meeting. The Nasdaq Composite surged 1.15%, powered by a tech rally from names like AMD (+7.4%) and Micron Technology (+6%). The S&P 500 gained 0.79%, and the Dow leaped 1.01% on the back of strong earnings from IBM (+8.4%), Goldman Sachs (+4.3%), Nvidia (+2.33%), and JPMorgan (+2%). Both the S&P 500 and Nasdaq Composite set all-time highs, a testament to the market’s appetite for risk amid encouraging macroeconomic signals.
The day’s economic data played a pivotal role in shaping sentiment. The CPI report, released on October 24, 2025, showed a 3% year-over-year increase and a 0.3% month-over-month rise—softer than expected and a relief for investors worried about runaway inflation. Housing and food prices, which together make up nearly half of the CPI, each rose just 0.2% month-over-month, contributing to the benign inflation picture. The report was especially notable as it was the first major government-issued release since the recent U.S. government shutdown, with the Bureau of Labor Statistics bringing back employees to ensure timely delivery.
However, not all economic indicators pointed upward. The University of Michigan Consumer Sentiment index declined to 53.6 in October, down from 55.1 in September. Analysts had expected a reading of 55. The report revealed a drop in Americans’ views of current conditions and future expectations, with five-year inflation expectations ticking up to 3.9% from 3.7% the previous month. Still, the S&P Composite Purchasing Managers’ Index (PMI) offered a silver lining, coming in at 54.8 versus 53.9 in September, indicating continued expansion in both manufacturing and services.
Corporate earnings continued to drive individual stock moves. Intel jumped 7% to its highest point since April 2024 after a strong earnings report, marking a significant turnaround for the chipmaker following the federal government’s recent stake. Comfort Systems USA soared 17% in premarket trading, while Deckers Outdoor and Booz Allen Hamilton lagged, falling 12.5% and 10.5%, respectively, after disappointing earnings. Alaska Air Group faced turbulence of another kind, with significant flight cancellations and delays over October 23 and 24 due to an IT outage, impacting operations primarily at its Seattle hub.
On the political front, former President Donald Trump grabbed headlines by announcing the cancellation of trade talks with Canada. The move came after an advertisement featuring former President Ronald Reagan aired during a Toronto Blue Jays game, prompting the Reagan Presidential Foundation and Institute to state it was “reviewing its legal options” over the use of the video, which it claimed “misrepresents the Presidential Radio Address.” The diplomatic spat added a layer of uncertainty to an otherwise economically focused day.
Back in India, the day’s trading session underscored the market’s sensitivity to both domestic and international cues. While metals and defence stocks offered pockets of strength, the drag from FMCG heavyweights like HUL and Colgate-Palmolive reminded investors of the challenges posed by shifting tax regimes and consumer demand patterns. The resilience of Thyrocare Technologies, buoyed by strategic promoter action, highlighted the dynamism at play in India’s evolving corporate landscape.
As October 24, 2025, drew to a close, investors on both sides of the globe were left to ponder the interplay of earnings, economic data, and geopolitical developments. The day’s events served as a vivid reminder that, in the world of finance, fortunes can shift in a heartbeat—and that staying informed is as crucial as ever.
