Indian Markets Poised for Strong Start as Global Cues Shine

Indian stock markets are set for a strong opening on Tuesday, October 29, boosted by positive global sentiment and overnight gains on Wall Street. The Gift Nifty was trading 230 points higher at 26,145 around 7:20 a.m., signaling a bullish start for domestic indices.

On Monday, markets saw a choppy session as the Nifty briefly slipped below 25,950 before ending 29.85 points lower at 25,936.20. The Sensex also dipped by 150.68 points to close at 84,628.16. Most sectoral indices ended in the red, weighed down by losses in realty, IT, and FMCG stocks. However, select buying in metal and banking shares provided some cushion against the decline. Broader markets remained flat, reflecting cautious investor sentiment.

Analysts noted that the immediate resistance for Nifty lies around the 26,050–26,100 levels, while the 25,700 zone is seen as strong support. A move above 26,100 could potentially extend gains toward 26,300 in the near term.

Across Asian markets, trading began on a positive note. Japan’s Nikkei 225 jumped over 1 percent to hit a record high, while South Korea’s Kospi inched up 0.17 percent. The Hong Kong markets remained closed for a public holiday.

Meanwhile, Wall Street continued its winning streak, closing at fresh highs on Monday. The Dow Jones climbed 160 points after briefly touching the 48,000 mark, the S&P 500 rose 0.2 percent to cross 6,900 intraday, and the Nasdaq surged 0.8 percent, led by strong demand for AI-driven stocks such as Nvidia.

Investors are now watching the US Federal Reserve’s interest rate decision closely, with expectations leaning toward a 25-basis-point cut. Attention is also turning to quarterly earnings from major tech players — Microsoft, Alphabet, and Meta — which are expected to report after Wednesday’s market close.

As optimism builds across global markets, Indian equities appear ready to ride the wave, setting the tone for a potentially upbeat trading session ahead.