On Tuesday, October 28, equity benchmark indices — Sensex and Nifty 50 — are expected to open higher, following a strong close on Wall Street overnight, driven by hopes of a US-China trade deal and an interest rate cut by the US Federal Reserve later this week.
Trends on the GIFT Nifty indicate that the Nifty 50 may open higher by 50 points, as the GIFT Nifty was trading 50 points higher at 26,066 around 7:11 AM. However, as the day progresses, volatility is likely to be seen on account of the October F&O expiry.
In early trade on Tuesday, the majority of the Asian markets traded lower.
TVS Motor Company, Adani Green Energy Limited, Tata Capital, Jindal Steel, Shree Cements, Adani Total Gas, Premier Energies, Mahindra and Mahindra Financial Services, Go Digit General Insurance, TVS Holdings, Star Health & Allied Insurance Company, and CreditAccess Grameen will announce their Q2 earnings on October 28.
On Monday, October 27, Foreign Institutional Investors (FIIs) emerged as net sellers, selling equities worth ₹55.58 crore.
Domestic Institutional Investors (DIIs) were buyers on Monday. DIIs bought equities worth ₹2,492.12 crore, marking their 3rd consecutive session of net buying.
On Monday, October 27, Indian equity benchmark indices ended higher, led by Reliance Industries and Bharti Airtel. The Nifty 50 opened strong, touched an intraday high of 26,005, and finally closed at 25,966.05, up 170.90 points or 0.66%. The Sensex gained 566.96 points or 0.67% to end at 84,778.84, while India VIX rose over 2%.
The rally was supported by optimism over US rate cuts and positive progress in US–China trade talks. Sectorally, 9 of 11 indices ended higher. Broader markets outperformed as both the Nifty Midcap and Smallcap indices closed in the green.
Wall Street’s key indexes recorded new highs for the second straight session on Monday, supported by optimism over a possible US-China trade deal and expectations of an active week with major technology earnings and a likely US interest rate cut.
The Dow Jones Industrial Average rose 337.47 points (0.71%) to settle at 47,544.59. The S&P 500 advanced 83.47 points (1.23%), crossing the 6,800 level for the first time, while the Nasdaq Composite surged 432.59 points (1.86%) to close at 23,637.46.
Investors now turn their focus to key events this week — Big Tech earnings, the Federal Reserve’s policy decision, and developments on the US-China trade front.
US President Donald Trump met with Japan’s newly appointed Prime Minister, Sanae Takaichi, in Tokyo to discuss trade and security matters. The meeting came just a week after Takaichi, known for her strong conservative stance, became Japan’s first woman prime minister and pledged to strengthen the country’s defense capabilities, according to Reuters.
China and the Association of Southeast Asian Nations (ASEAN) have finalised an upgraded version of their free trade agreement, which now incorporates areas such as the digital economy, green industries, and emerging sectors, marking a step toward deeper regional economic cooperation.
Gold rises in early Asian trade on a likely technical recovery after front-month Comex gold for October delivery fell 2.8% overnight. As of 7:13 am IST, Spot gold was 0.6% higher at $4,009.64/oz, while as of October 27, MCX gold futures closed 2.02% down at ₹1,20,957 per 10 grams.
Brent dropped 0.2% to $65.46 a barrel, while US crude eased 0.2% to $61.17 per barrel, marking a third straight session of losses, as traders grew increasingly concerned about a supply glut following signals from OPEC+ that it may raise production again.
Disclaimer: The article is for informational purposes only and not investment advice.
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