On Thursday, October 30, equity benchmark indices — Sensex and Nifty 50 — are expected to open higher, despite losses in global markets after the US Federal Reserve policy. Investors also watch out for the meeting between US President Donald Trump and Chinese President Xi Jinping later today.
Trends on the GIFT Nifty indicate that the Nifty 50 may open higher by 26 points, as the GIFT Nifty was trading 26 points higher at 26,160 around 7:16 AM.
The US Federal Reserve, chaired by Jerome Powell, announced in its October FOMC meeting a 25 basis point reduction in the key benchmark interest rate, bringing it down to a range of 3.75%–4.00%. Powell noted that further rate cuts are not guaranteed, emphasizing that the actual situation may differ from expectations.
In early trade on Thursday, Asian markets traded lower, while the US stock market ended mixed overnight, with the Nasdaq registering another record closing high, after the US Federal Reserve cut the interest rate by 25 bps.
ITC, NTPC, Adani Power, DLF, Hyundai Motor India, Pidilite Industries, Cipla, Lodha Developers, Canara Bank, Union Bank of India, Swiggy, United Spirits, Dabur India, Aditya Birla Capital, Coromandel International and Motilal Oswal Financial Services will announce their Q2 earnings on October 30.
On Wednesday, October 29, Foreign Institutional Investors (FIIs) were net sellers, selling equities worth ₹2,540.16 crore. Domestic Institutional Investors (DIIs) continued their positive stance, buying equities worth ₹5,692.81 crore, marking their fifth consecutive session of net inflows.
On Wednesday, October 29, Indian equity indices closed higher ahead of the U.S. Federal Reserve’s policy decision, supported by gains in Reliance Industries and HDFC Bank. The Nifty 50 rose 117.70 points, or 0.45%, to 26,053.90, while the Sensex advanced 368.98 points, or 0.44%, to 84,997.13. India VIX remained steady near 12.
Ten of eleven sectors ended in positive territory, led by the Nifty Energy index, which gained nearly 2% as crude prices eased. The Nifty Metal index jumped 1.7% on US–China trade optimism, while the Nifty IT index added 0.64%. Broader markets also ended higher. Meanwhile, asset managers fell after SEBI proposed simplifying the mutual fund fee structure and discontinuing the 5 bps charge on equity funds with exit loads.
US stocks ended mixed on Wednesday after the Federal Reserve announced an interest rate cut but signaled uncertainty about another move in December.
The Dow Jones Industrial Average fell 74.37 points, or 0.16%, to 47,632.00, while the S&P 500 remained almost flat, slipping 0.30 points to 6,890.59. In contrast, the Nasdaq Composite gained 130.98 points, or 0.55%, closing at a record 23,958.47, driven by Nvidia’s sharp rally as the AI chipmaker became the first company to achieve a $5 trillion market valuation.
Fed Chair Jerome Powell noted that policymakers were cautious about further cuts, citing the ongoing U.S. government shutdown as a factor affecting decision-making. The central bank reduced its benchmark overnight rate to a range of 3.75%–4.00%, its second reduction this year.
The dollar index, which measures the greenback's strength against a basket of six currencies, climbed to a two-week high of 99.131.
Gold rises in the early Asian session on possible dip-buying after falling on Fed Chair Powell's remarks overnight that indicated a December rate cut isn't a foregone decision. Spot gold is 0.5% higher at $3,949.47/oz. Meanwhile, MCX gold futures closed 0.85% higher at ₹1,20,666 per 10 grams.
Disclaimer: The article is for informational purposes only and not investment advice.
For android only