Market participants are now focused on the Reserve Bank of India’s policy decision this week, which is expected to be a key domestic trigger.
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Benchmark indices opened marginally higher on Tuesday, with the Nifty 50 starting at 24,691.95 from its previous close of 24,634.90 and trading at 24,658.05, up 23.15 points or 0.09 per cent, at 9.52 am. The Sensex opened at 80,541.77 against its previous close of 80,364.94 and was at 80,423.01, higher by 58.07 points or 0.07 per cent, at the same time.
The modest gains came despite persistent foreign institutional investor (FII) selling, which has continued to weigh on market sentiment. FIIs offloaded equities worth over ₹2,830 crore on September 29, marking the sixth consecutive session of selling. However, domestic institutional investors (DIIs) provided support, buying equities worth ₹3,845 crore on the same day.
“The near-term market structure appears weak. Sustained FII selling and absence of positive triggers are preventing any strong recovery in the market,” said Dr VK Vijayakumar, Chief Investment Strategist at Geojit Investments Limited. “Any attempt to climb up is facing selling pressure.”
Among Nifty 50 stocks, JSW Steel led the gainers, trading at ₹1,137.00, up 1.32 per cent from its previous close of ₹1,122.20. Bharat Electronics Limited (BEL) rose 1.25 per cent to ₹404.95, while Power Grid gained 1.18 per cent to ₹283.90. Hindalco advanced 1.09 per cent to ₹762.00, and Adani Ports climbed 0.93 per cent to ₹1,396.10.
On the losing side, InterGlobe Aviation (IndiGo) declined 1.45 per cent to ₹5,624.00. Larsen & Toubro fell 0.98 per cent to ₹3,652.30, while ITC dropped 0.79 per cent to ₹404.05. Axis Bank was down 0.43 per cent at ₹1,127.30, and Tata Motors slipped 0.36 per cent to ₹670.10.
Market participants are now focused on the Reserve Bank of India’s policy decision this week, which is expected to be a key domestic trigger. “All eyes are now on the RBI’s policy decision this week, which is expected to be the key domestic trigger for market direction,” said Ponmudi R, CEO of Enrich Money. The RBI is widely expected to hold rates at 5.50 per cent through 2025.
“Persistent FPI selling has capped near-term upside for equities, with US tariff concerns keeping risk appetite subdued and the rupee under pressure,” Ponmudi R added. India’s industrial output growth eased marginally to 4 per cent year-on-year in August, dragged by a slowdown in manufacturing.
From a technical perspective, the Nifty 50 is holding above the 100-day exponential moving average near ₹24,745. “Sustaining above ₹24,745–₹24,800 could trigger short covering toward ₹24,950, while a breakdown exposes horizontal support at ₹24,400,” Ponmudi noted.
In the commodities market, crude oil futures fell on Tuesday morning. December Brent oil futures were at $66.57, down 0.78 per cent, while November WTI crude oil futures were at $62.99, down 0.72 per cent. On the Multi Commodity Exchange, October crude oil futures were trading at ₹5,600, down 0.18 per cent from the previous close of ₹5,610.
“Crude oil prices show very high volatility and slipped from 7-week highs after the OPEC+ said to further increase outputs from November month,” said Rahul Kalantri, VP Commodities at Mehta Equities Limited.
Gold and silver continued their bullish momentum, driven by safe-haven demand amid concerns over a potential US government shutdown and expectations of further Federal Reserve rate cuts. In INR terms, gold has support at ₹1,15,000-₹1,14,680 while resistance is at ₹1,15,550-₹1,15,700.
“Given the prevailing uncertainty and heightened volatility, traders are advised to maintain a cautious ‘wait-and-watch’ stance,” said Amruta Shinde, Technical & Derivative Analyst at Choice Equity Broking Private Limited.
Published on September 30, 2025