On Wednesday, October 29, equity benchmark indices — Sensex and Nifty 50 — are expected to open higher, following a rally in global markets ahead of the expected interest rate cut by the US Federal Reserve after the conclusion of its policy meeting later today.
Trends on the GIFT Nifty indicate that the Nifty 50 may open higher by 16 points, as the GIFT Nifty was trading 16 points higher at 26,140 around 7:20 AM.
India’s industrial production recorded a steady growth rate of 4% in September. The Index of Industrial Production (IIP), which tracks factory output, had shown a 3.2% rise in September 2024. Meanwhile, the IIP growth for August 2025 has been revised upward to 4.1% from the earlier provisional estimate of 4%.
In early trade on Wednesday, Asian markets traded higher, while the US stock market rallied overnight, with all three major Wall Street indices posting record closing highs.
Larsen & Toubro, Coal India, Varun Beverages, CG Power and Industrial Solutions, Hindustan Petroleum Corporation, NTPC Green Energy, Bharat Heavy Electricals, PB Fintech, NMDC, Steel Authority of India, APL Apollo Tubes, United Breweries, and Radico Khaitan will announce their Q2 earnings on October 28.
On Tuesday, October 28, Foreign Institutional Investors (FIIs) were net buyers, purchasing equities worth ₹10,339.80 crore — their highest single-day buying in the past four months since June 26. Domestic Institutional Investors (DIIs) also continued their positive stance, buying equities worth ₹1,081.55 crore, marking their fourth consecutive session of net inflows.
On Tuesday, October 28, Indian equity benchmarks ended slightly lower, pressured by ICICI Bank and Mahindra & Mahindra. The Nifty 50 slipped 29.85 points, or 0.11%, to 25,936.20, while the Sensex fell 150.69 points, or 0.18%, to 84,628.16. India VIX was steady, rising 0.8%. Despite the decline, the Nifty has gained 3.3% over the past nine sessions and is about 1.3% below its September 2024 high.
Sectorally, 4 of 11 indices ended positive, led by Nifty Metal, which rose 1.23% after the US and China reached a new trade framework for leaders Donald Trump and Xi Jinping. Broader markets were mixed, with Nifty Midcap and Smallcap indices showing limited movement.
US stocks extended their rally on Tuesday, with all three key indexes — the Dow Jones, S&P 500, and Nasdaq — closing at fresh record highs, supported by strength in technology shares.
The Dow Jones Industrial Average advanced 161.78 points (0.34%) to 47,706.37, the S&P 500 gained 15.73 points (0.23%) to 6,890.89, and the Nasdaq Composite climbed 190.04 points (0.8%) to 23,827.49.
The US Federal Reserve’s monetary policy meeting began on October 28, led by Chairman Jerome Powell and the Federal Open Market Committee (FOMC). Market participants largely anticipate a 25 basis point (bps) interest rate reduction in the upcoming announcement.
Israel launched airstrikes on Gaza after accusing Hamas of breaching the ceasefire agreement. The attacks have resulted in at least 26 fatalities.
The US dollar remained near its one-week low against major global currencies ahead of the Federal Reserve’s policy decision. The US Dollar Index, which tracks the greenback against six major counterparts, stayed steady at 98.68.
Gold prices edged higher as investors awaited the Federal Reserve’s interest rate decision later in the day. Spot gold climbed 0.7% to $3,977.49 per ounce after touching its lowest level since October 7 on Tuesday. Meanwhile, MCX gold futures closed 1.08% down at ₹1,19,646 per 10 grams.
Crude oil prices moved slightly higher in global trade. Brent crude rose 0.23% to $64.55 per barrel, while US West Texas Intermediate (WTI) futures gained 0.22%, reaching $60.29 per barrel.
Disclaimer: The article is for informational purposes only and not investment advice.
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