Market Wrap

Indian equities extended their winning streak on October 30, 2025, as the Nifty 50 climbed over 0.5% to close above the 26,050 mark its highest closing level of the calendar year. The index opened firm, tracking upbeat global cues and optimism around the recent GST Council meeting, but some mid-session profit-taking capped further gains. The Nifty Oil & Gas Index was the day’s star performer, rallying more than 2% amid robust earnings from Indian Oil Corporation and supportive crude prices. U.S. markets’ record highs ahead of the Fed meeting buoyed Asian sentiment, even as European markets stayed muted, awaiting monetary policy clarity. Meanwhile, renewed trade developments between the U.S. and Japan, along with Donald Trump’s latest tariff remarks, kept global risk appetite in check.

What's Ahead

With Nifty approaching a key resistance zone of 26,100–26,165, the coming sessions could determine whether the index sustains its upward momentum or pauses for consolidation. The immediate focus now shifts to the U.S. Federal Reserve’s policy decision, where expectations of a 25 bps rate cut could influence near-term global risk sentiment. Domestically, investors will keep an eye on ongoing Q2 earnings, especially from heavyweight large-caps and mid-caps, as well as updates on GST policy execution. Additionally, FII inflows and crude oil price movements remain crucial short-term drivers that could dictate market direction heading into November.

Market Snapshots

Institiutional Activity

Sectoral Performance

Technical Outlook

Nifty 50

The NIFTY 50 closed 117.7 points higher at 26,053.9, marking a gain of 0.45% and sustaining its positive momentum for the third straight session. The market breadth was firmly in favor of the bulls, with 36 advances and 14 declines. Strong performances from heavyweights such as ICICI Bank (+0.54%), HDFC Bank (+0.43%), and defensives like Power Grid (+2.46%) and NTPC (+2.46%) powered the index higher. The Nifty opened strong at 25,982.0 and briefly dipped to 25,960.3 before rallying to an intraday high of 26,097.85. The uptrend mirrored the positive sentiment across Asian peers ahead of the U.S. Fed’s rate decision. However, SEBI’s move to cut AMC and brokerage fees weighed on capital market-related stocks, capping some of the day’s gains. The RSI near 70 indicates strong bullish momentum, though overbought conditions warrant caution. Near-term support levels are at 25,799/25,641, while resistance lies at 26,309/26,466.

Bank Nifty

The NIFTY BANK gained 171.15 points to settle at 58,385.25, up 0.29%, aided by strength in large-cap lenders like HDFC Bank (+0.43%), ICICI Bank (+0.54%), and SBI (+1.02%). Despite this, selling pressure in Kotak Bank (-0.48%), Canara Bank (-0.93%), and Bank of Baroda (-0.85%) kept the upside contained. The index opened at 58,316.25, dipped to 58,087.05, and then rebounded to a high of 58,469.9 before closing near the upper end of the day’s range. The RSI reading above 60 suggests continued bullish bias, and a move above 59,030 could trigger further buying momentum. Near-term support is placed at 57,740/57,341, with resistance at 59,030/59,429.

Sensex

The SENSEX advanced 368.97 points to close at 84,997.13, up 0.44%, marking another session of steady gains. The rally was fueled by strong performances in Adani Ports (+2.60%), Power Grid (+2.46%), and NTPC (+2.46%), supported by index heavyweights like Reliance (+1.16%), HDFC Bank (+0.43%), and ICICI Bank (+0.54%). Market breadth favored the bulls, with 20 stocks advancing against 9 declines. Despite mild weakness in L&T (-0.37%) and Maruti Suzuki (-1.06%), the index maintained its upward bias. The trend remains positive, with near-term support at 84,143/83,614 and resistance at 85,852/86,380, suggesting potential for continuation of the current upmove if buying sustains above key resistance levels.

FINNIFTY

The NIFTY FINANCIAL SERVICES index closed 134 points higher at 27,587.65, up 0.49%, driven by broad-based strength across the financial space. Key gainers included RECLTD, PFC, and Shriram Finance, while life insurers HDFC Life and SBI Life also contributed meaningfully. Some weakness persisted in Bajaj Finance, Cholamandalam Finance, and Kotak Bank, which limited the overall upside. Out of the 20 tracked constituents, 16 closed in the green, reflecting healthy buying sentiment. Technically, the RSI suggests steady momentum, and the index remains on a firm footing as long as it holds above 27,295/27,114. Immediate resistance is seen at 27,880/28,061, and a breakout above this zone could open the door for further strength in the near term.