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Mumbai : India’s stock indices logged the highest weekly gain in four months, up 1.7%, driven by momentum in banking stocks and optimism ahead of Diwali that led to a technical breakout in the benchmark. Analysts said that while short-term gains of around 500 points are possible, these may not be sustained after Diwali.The NSE Nifty finished Friday at 25,709.85, up 0.5% or 124.55 points from the day before. The BSE Sensex ended at 83,952.19, 0.6% or 484.53 points higher. Both indices gained 1.7% in the past week.The muhurat trading session that marks Diwali will be held on October 21. The Bank Nifty hit a record on Friday and closed 0.5% higher.In the past week, the index has gained close to 2%. The Nifty FMCG index advanced 1.4% while the healthcare index rose 0.8%. Consumer durables, pharma and auto indices moved 0.7% higher.“The gains in the banking stocks drove the market higher this week post their business update, which reflected higher loan growth that cheered investors,” said Siddarth Bhamre, head of research, Asit C Mehta Intermediates. 124653031Pickup in Loan Growth“The pickup in loans could also be due on account of festive season and may not sustain post this period,” Bhamre said.“Since banks are neither expensive nor cheap at this point, both private and state-run banks can see further upside in the short term, but the cost of borrowing is also likely to increase and eat into net interest margins (NIMs), so investors should wait till next quarter to gauge whether the uptick in loan growth persists,” he said.Asian Paints emerged as the top gainer in the Nifty pack and jumped 4.1% on Friday. Mahindra & Mahindra and Bharti Airtel rose over 2% each. “Most investors place bets ahead of Diwali and cherry-pick stocks for long-term investment as the muhurat trading window is just for an hour,” said Dharmesh Kant, head of research, Cholamandalam Securities. “The gains are likely to cool off post the Diwali week.”Due to two quarters of earnings disappointment, expectations have been low, so even unexceptionally positive news has led to a jump.The Nifty Mid-cap 150 and Small-cap 250 indices declined 0.5% and 0.2%, respectively on Friday. Out of the 4,326 shares traded on the BSE, 1,641 advanced, while 2,527 declined.In the past week, the mid-cap index rose 0.2% while the small-cap index shed 0.2%.“The Nifty was trading in a triangle formation since May and witnessed a breakout on Thursday which indicates that the benchmark can be at 26,300 levels in the next month,” said Vipin Kumar of Globe Capital Market. “However, there are some concerns on the gains sustaining.”FPI SELLOFFThe lack of participation by the broader market in the rally and the foreign institutional investor (FII) long-short ratio persisting at low levels could cap gains, he said. Foreign portfolio investors bought shares worth a net ₹309 crore on Friday. Their domestic counterparts did so to the tune of ₹1,526.6 crore. In October, global investors purchased shares worth ₹817 crore.

The Federal Aviation Administration said Friday it will allow Boeing to produce more 737 Max airplanes by increasing the monthly limit that it imposed after a door plug blew off an Alaska Airlines jet that the company built. Boeing can now produce 42 Max jets per month, up from 38, after safety inspectors conducted extensive reviews of the aerospace company's manufacturing lines to ensure an increase in production can be done safely, the FAA said.The agency had set a con production shortly after the terrifying January 2024 incident involving the Alaska Airlines 737 Max jet. In practice, though, the production rate fell well below the ceiling last year as the company contended with investigations and a machinists' strike that idled factories for almost eight weeks. But Boeing said over the summer that it had reached the monthly cap in the second quarter and would eventually seek the FAA's permission to start producing more of the planes.A spokesperson for Boeing said Friday that the company followed a "disciplined process" to make sure it was ready to safely increase production, using safety guidelines and performance goals that it set with the FAA. "We appreciate the work by our team, our suppliers and the FAA to ensure we are prepared to increase production with safety and quality at the forefront," Boeing said in a statement.The FAA also said Friday this won't change the way it oversees Boeing production processes and its efforts to strengthen the company's safety culture, adding that FAA inspectors at Boeing plants have continued to work through the federal government shutdown that began Oct. 1.Just last month, the FAA also restored Boeing's ability to perform final safety inspections on 737 Max jetliners and certify them for flight. Boeing hadn't been allowed to do that for more than six years, after two crashes of the then-new model killed 346 people. The FAA took full control over 737 Max approvals in 2019, after the second of the two crashes that were later blamed on a new software system Boeing developed for the aircraft. Earlier this year, Boeing CEO Kelly Ortberg faced questions from a Senate committee about the production rate of the 737 Max, with lawmakers seeking reassurance from Ortberg that the company was prioritizing quality and safety over meeting production targets for profit."Just to be very clear, we won't ramp up production if the performance isn't indicating a stable production system," Ortberg said at the April hearing. "We will continue to work on getting to a stable system."The incident involving the Alaska Airlines flight that prompted the production cap on Max jets was among a series of alleged safety violations by Boeing between September 2023 and February 2024 that led to the FAA seeking $3.1 million in fines from the company.

Kolkata | Mumbai: There is a distinct preference for western and fusion wear that is seen outpacing ethnic fashion at the peak of India's festive season this year, when consumers typically show a penchant for traditional wear.Usually, the festive and wedding seasons between October and February are peak periods for traditional fashion. But growth in the ethnic segment has softened, with industry executives estimating sales are down 15-20% compared to last year. "Dresses, jumpsuits, and bandhgalas are replacing sarees and sherwanis at celebrations," said Devarajan Iyer, chief executive of department store chain Lifestyle International."There is a clear industry-wide shift in consumer preferences. From Diwali parties to celebrations, more people are opting for western wear over conventional ethnic outfits, leading to slower growth in the traditional category," he added. Companies said the demand shift is particularly noticeable among younger consumers and urban shoppers who prefer comfort, a key reason for them to opt for western and fusion styles over traditional garments. V-Mart managing director Lalit Agarwal said fusion wear, which incorporates ethnic styles and prints with western attire, is in vogue. "We are still seeing an uptick in demand for ethnic brands. But it's increasingly skewed towards fusion wear which is more stylish yet carries the ethnic essence.""Western wear is cheaper than hand-embroidered ethnic clothing," said Rahul Mehta, chief mentor of the Clothing Manufacturers Association of India. "Cost-conscious consumers are shifting, and women, especially, are embracing western looks for occasions. Ironically, ethnic wear is gaining popularity among men, who view it more as a status symbol."Pricing pressures and an 18% GST on garments priced above ₹2,500 has also hit ethnic wear demand. While the tax increase from an earlier 12% applies across apparel categories, large-scale western wear makers have economies of scale, unlike many MSME-led ethnic wear producers. 124642053 "The sale during this Diwali is not as expected. The growth has been flat this season probably due to increase in GST in this price segment. People were expecting a discount but in our segment the price has gone up. The upcoming wedding season will be a real test for ethnic wear," said Mayank Mohan, owner of ethnic menswear brand Mohanlal Sons.Despite the current lull, retailers said the long-term ethnic wear market will keep its cultural stronghold. Shoppers Stop, however, said the premium celebration wear category has been resilient despite economic slowdowns. "Our premium ethnic brand Kashish is the top seller across apparel categories, indicating that there is no slowdown at our stores. While value clothing remains under pressure, there is a strong trend of premiumisation," said Kavindra Mishra, managing director at Shoppers Stop.Biba's managing director Siddharath Bindra said it is betting on product innovation in fusion wear, bridal wear and kids wear and expects a double-digit growth this Diwali over last year.

India's chief selector Ajit Agarkar opened up about his controversy with right-arm seamer Mohammed Shami ahead of the ODI series against Australia, saying he hadn't seen the player's recent social media post but was open to a conversation. Agarkar also added that he has had "multiple chats" with Shami in recent months but didn't want to "give a headline." After being dropped from the West Indies Test series and the upcoming ODIs against Australia, Shami took to social media and took a dig at Indian selectors, saying that his availability for Bengal in the Ranji Trophy proves he is fit, and it is not his job to update the selection on his fitness. Reacting to the fast-bowler's remarks, Agarkar said on NDTV World Summit 2025, "I am not quite sure what he said on social media. Maybe if I read that, I might give him a call, but my phone is always on for most players. I have had multiple chats with him over the last few months, but I don't want to try and give you a headline here." Furthermore, speaking about Shami's future with the national team, Agarkar said the pacer remains a key player for India, but his fitness will determine when he returns to the team. Agarkar also revealed that Shami would have toured England if fit and hinted that his return could depend on how he shapes up in the ongoing domestic season.124636265 "He has been an incredible performer for India. If he said something, maybe that is a conversation for me to have with him or him to have with me. But even before England, we said if he was fit, he would have been on that plane. Unfortunately, he wasn't. Our domestic season has just started, so we will see if he is fit enough, and we will see where it goes. This is the first round of Ranji games that is going on. We will find out in a couple of more games. If he is bowling well, why would you not want to have someone like Shami? But what we have found in the last 6-8 months to a year, even during the Australia tour, we were desperate to have him on, but unfortunately, his fitness wasn't there. If he does stay fit over the next few months, the story might be different. But at this point, as far as I know, he wasn't fit enough for that England tour," he added. Shami hasn't played for the Indian Cricket Team since the completion of the ICC Champions Trophy 2025, which finished in March.The fast bowler was left out of the Indian Test squad, which is currently playing a two-match series against the West Indies. Stating the reason behind the player's omission, chief selector Ajit Agarkar cited a lack of match time as one of the reasons for his exclusion from the squad. Since the IPL 2025, Shami has played just one first-class game, for East Zone in the Duleep Trophy, where he bowled a total of 34 overs in two innings of the game, managing to scalp just one wicket. (ANI)