Mumbai, October 29 (Udaipur Kiran): Indian stock markets opened on a positive note on Wednesday, supported by buying in metal, IT, PSU bank, pharma, and FMCG sectors, while investors awaited key policy signals from the US Federal Reserve meeting scheduled later today.
At around 9:27 a.m., the Sensex was trading 202 points higher (0.24%) at 84,830.28, while the Nifty rose 70.75 points (0.27%) to 26,006.95.
Among sectoral indices, the Nifty Bank slipped 28.40 points (0.05%) to 58,185.70, the Nifty Midcap 100 declined 40.85 points (0.07%) to 59,724.50, and the Nifty Smallcap 100 was down 63.20 points (0.34%) at 18,344.40.
Market analysts said, “After a positive start, Nifty may find support at 25,800, 25,850, and 25,900 levels. On the upside, resistance is expected around 26,000, followed by 26,050 and 26,100.”
Investors are closely watching the Federal Reserve’s policy meeting, where a 25-basis-point rate cut is widely expected. However, experts believe the Fed’s commentary will hold more significance for future rate trajectory and market sentiment.
In the Sensex pack, Trent, Asian Paints, HCL Tech, Adani Ports, Sun Pharma, and Tata Steel were among the top gainers, while M&M, TMPV, Bajaj Finance, BEL, and Bajaj Finserv featured among the top losers.
Across Asia, most markets were trading in the green, except Jakarta, which was slightly lower. On Wall Street, all major indices closed higher in the previous session — the Dow Jones gained 0.34% (161.78 points) to 47,706.37, the S&P 500 rose 0.23% (15.73 points) to 6,890.89, and the Nasdaq advanced 0.80% (190.04 points) to 23,827.49.
Meanwhile, foreign institutional investors (FIIs) remained net buyers on October 28, purchasing equities worth ₹10,339.80 crore, while domestic institutional investors (DIIs) also turned net buyers with inflows of ₹1,081.55 crore during the same session.
Bhupendra Singh Chundawat is a seasoned technology journalist with over 22 years of experience in the media industry. He specializes in covering the global technology landscape, with a deep focus on manufacturing trends and the geopolitical impact on tech companies. Currently serving as the Editor at Udaipur Kiran, his insights are shaped by decades of hands-on reporting and editorial leadership in the fast-evolving world of technology.
