Nifty 50, Sensex Today Oct 29: Prediction & Global Cues
TABLE OF CONTENTS
- Reading Overview
Indian markets are poised for a cautious opening today, October 29, 2026, with GIFT Nifty indicating a potentially flat to slightly negative start around the 22,670 level, compared to Nifty 50's previous close of 22,698.85. This follows a mixed session in global markets, where US indices closed higher, while Indian benchmarks ended lower on Wednesday, October 28, dragged by IT and oil stocks. Elevated crude oil prices and institutional flows will be key factors influencing market sentiment.
Market Snapshot
| Indicator | Value | Change |
|---|---|---|
| GIFT Nifty | 22,670.00 | -28.85 |
| Nifty 50 Previous Close | 22,698.85 | -50.90 |
| Sensex Previous Close | 73,246.03 | -352.64 |
| India VIX | 16.2375 | -1.01% |
| Nifty Bank | 54,267.40 | +292.50 |
| Nifty Midcap 100 | N/A | +0.43% |
| Nifty Smallcap 100 | N/A | +0.90% |
The Indian equity market is expected to open with a slight downward bias, as suggested by early indications from GIFT Nifty. This comes after a volatile session on Wednesday, where benchmark indices closed in the red, primarily due to selling pressure in IT and oil & gas sectors, despite positive movements in broader markets.
GIFT Nifty and Opening Indication
GIFT Nifty futures were trading at 22,670.00 as of 7:30 AM IST on October 29, 2026, indicating a marginal decline of 28.85 points or 0.13% from the Nifty 50's previous close of 22,698.85. This suggests a potentially flat to slightly negative opening for the Indian benchmark Nifty 50 today.
Investors will closely monitor the pre-open session for further cues, but the current GIFT Nifty trend points towards a cautious start. It is important to remember that GIFT Nifty provides only an indication, and the actual market opening will be determined by various domestic and global factors during the NSE's pre-open session.
Previous Market Session — October 28, 2026
Sensex and Nifty
| Index | Previous Close | Change | Change (%) |
|---|---|---|---|
| Sensex | 73,246.03 | -352.64 | -0.48% |
| Nifty 50 | 22,698.85 | -50.90 | -0.22% |
| Nifty Bank | 54,267.40 | +292.50 | +0.54% |
Indian equity benchmarks closed lower for the second consecutive session on Wednesday, October 28, 2026, as elevated crude oil prices and losses in heavyweight information technology and oil-related stocks weighed on investor sentiment. The BSE Sensex declined 352.64 points to settle at 73,246.03, while the NSE Nifty 50 fell 50.90 points to close at 22,698.85. However, buying interest in auto, banking, and pharma stocks helped limit the losses, with the Nifty Bank index gaining 0.54%. Broader markets showed relative resilience, with the Nifty Midcap 100 advancing 0.43% and the Nifty Smallcap 100 gaining 0.90%.
Global Cues
US Markets
| Index | Latest Close | Change |
|---|---|---|
| Dow Jones | 52,475.10 | +0.19% |
| S&P 500 | 7,743.98 | +0.28% |
| Nasdaq Composite | 26,549.85 | +0.27% |
Asian Markets
| Index | Latest Value | Change |
|---|---|---|
| Nikkei 225 | 39,450.00 | +0.50% |
| Hang Seng | 18,150.00 | +0.30% |
| Shanghai Composite | 3,045.00 | +0.20% |
Commodities and Currency
| Asset | Value | Change |
|---|---|---|
| Brent Crude | $116.00 | +1.86% |
| WTI Crude | $110.50 | +1.50% |
| USD/INR | 95.19 | +0.075 |
| US 10-Year Yield | 5.02% | -0.01% |
US markets closed higher on Wednesday, October 28, with the Dow Jones, S&P 500, and Nasdaq Composite all posting gains after the Federal Reserve held interest rates steady. Asian markets also ended higher on Wednesday, led by South Korean technology stocks. However, crude oil prices remained elevated, with Brent crude futures rising to $116 per barrel amid concerns over Middle East supply disruptions. The US 10-year Treasury yield eased slightly to 5.02% on October 29, 2026.
Nifty Support and Resistance
| Level | Type |
|---|---|
| 22,500 | Support |
| 22,800 | Resistance |
Market participants will be watching the 22,500 level as a key support for the Nifty 50, while 22,800 is expected to act as a formidable resistance. A decisive move beyond these levels could indicate the next trending direction for the index.
India VIX
| Volatility Index | Value | Change (%) |
|---|---|---|
| India VIX | 16.2375 | -1.01% |
The India VIX, a measure of market volatility, declined by 1.01% to 16.2375 on October 28, 2026. A lower VIX generally indicates reduced market fear and potentially more stable trading conditions.
FII/DII Activity
| Date | FII Net Purchase/Sales (₹ Cr) | DII Net Purchase/Sales (₹ Cr) |
|---|---|---|
| 28-Oct-2026 | +871.83 | +643.35 |
| 27-Oct-2026 | +4,240.39 | -1,250.03 |
| 26-Oct-2026 | -1,462.49 | +2,609.57 |
| 23-Oct-2026 | +887.65 | +3,235.36 |
| 22-Oct-2026 | -3,458.70 | +2,891.32 |
| 21-Oct-2026 | +1,022.32 | +1,614.32 |
| 19-Oct-2026 | -1,148.64 | +3,201.19 |
| 16-Oct-2026 | +1,165.92 | -3,661.28 |
| 15-Oct-2026 | -5,285.37 | +3,319.39 |
| 14-Oct-2026 | -1,857.44 | +2,670.44 |
On October 28, 2026, Foreign Institutional Investors (FIIs) were net buyers in the cash segment, purchasing equities worth ₹871.83 crore. Domestic Institutional Investors (DIIs) also remained net buyers, with purchases totaling ₹643.35 crore. This indicates continued institutional support in the Indian market.
Stocks to Watch Today
| Stock | Catalyst / Focus Reason |
|---|---|
| Infosys | The company's Q2 FY27 results were announced recently, and it is also facing an ongoing investigation from the US Department of Justice regarding H-1B visa employee classification. |
| Reliance Industries | Its subsidiary, Jio Platforms, made a blockbuster market debut on October 28, surging nearly 27% and becoming India's second most valuable firm. |
| HDFC Bank | Anup Bagchi assumed charge as the new MD & CEO effective October 27, 2026. The bank also launched a pioneering Flexi Electric Car Loan product for electric vehicles. |
| Larsen & Toubro (L&T) | The engineering major reported a 32.5% rise in consolidated net profit for the quarter ended September 2026, leading to a significant jump in its share price. |
| Tata Motors | Partnered with Amazon to deploy 3,000 electric trucks across India over the next three years and completed the acquisition of Italian truckmaker Iveco Group. |
| Hindustan Unilever (HUL) | Reported a 3.9% rise in consolidated net profit and a 14.8% increase in turnover for Q2 FY27. |
| Craftsman Automation | Announced strong year-on-year growth in revenue and net profit for Q2 FY27, although its shares declined post-results. |
What Could Move the Market Today
- Global markets: Positive cues from US markets, but mixed sentiment in Asian markets could influence early trading.
- GIFT Nifty: The slight negative indication from GIFT Nifty suggests a cautious opening for the domestic indices.
- Crude oil: Elevated Brent crude prices above $116 per barrel remain a concern, potentially impacting inflation and corporate margins.
- FII/DII flows: Continued net buying by both FIIs and DIIs on Wednesday could provide underlying support to the market.
- Key event: Investors will continue to digest the implications of the US Federal Reserve's policy decision to hold rates steady.
What to Watch Before 9:15 AM
- GIFT Nifty: Monitor the latest movements in GIFT Nifty for final opening indications.
- Nifty support: Watch if the Nifty 50 holds the key support level of 22,500.
- Nifty resistance: Observe if the index approaches or breaches the resistance level of 22,800.
- India VIX: Any significant change in the volatility index could signal shifts in market sentiment.
- Global markets: Keep an eye on the opening performance of other Asian markets.
- FII/DII: The institutional flow data from the previous day will continue to be a factor.
- Major stock news: Any fresh corporate announcements or news related to the stocks in focus.
Market Opening Outlook
The Indian market is expected to commence trading today with a cautious tone, influenced by the slightly negative indication from GIFT Nifty and the previous day's domestic market decline. While US markets closed positively, elevated crude oil prices and the previous day's selling in IT and oil & gas stocks could keep investors on edge. The actual opening of the NSE will be determined during the market's pre-open session, and participants will closely watch institutional flows and key technical levels for direction.
Disclaimer: This article is for educational purposes only. It does not constitute investment advice. Please consult a SEBI-registered financial advisor before making investment decisions.
FAQ
1. Where is the Indian stock market likely to open today?
The Indian stock market is likely to open flat to slightly negative, with GIFT Nifty indicating an opening around the 22,670 level.
2. What was Nifty's closing level in the previous session?
Nifty 50 closed at 22,698.85 in the previous session on October 28, 2026.
3. What was Sensex's closing level in the previous session?
Sensex closed at 73,246.03 in the previous session on October 28, 2026.
4. What are the Nifty support and resistance levels today?
The key support level for Nifty is 22,500, while 22,800 acts as a resistance level.
5. What are the global cues for the Indian market today?
Global cues are mixed, with US markets closing higher, Asian markets ending higher on Wednesday, and crude oil prices remaining elevated. The US 10-year Treasury yield eased slightly.
6. What is GIFT Nifty?
GIFT Nifty is the Nifty 50 futures contract traded at NSE International Exchange in GIFT City. It trades before the Indian market opens and is used as an early indicator of the opening.
7. When does the NSE pre-open session run?
The NSE pre-open session runs from 9:00 AM to 9:15 AM IST. Order entry runs from 9:00 to 9:08, order matching from 9:08 to 9:12, and a buffer from 9:12 to 9:15. Normal trading starts at 9:15 AM.
8. What is India VIX today?
India VIX is at 16.2375, reflecting a decline of 1.01% from the previous session.
9. Which stocks are in focus today?
Stocks in focus today include Infosys, Reliance Industries (due to Jio Platforms' debut), HDFC Bank, Larsen & Toubro, Tata Motors, Hindustan Unilever, and Craftsman Automation, based on recent corporate announcements and results.
10. What could move the Indian stock market today?
Key factors that could move the Indian stock market today include global market performance, GIFT Nifty indications, crude oil price movements, FII/DII investment flows, and specific corporate news.
