Nifty ended 30 points lower, while the Sensex was down by 151 points
Shrikant Chouhan,
Head Equity Research,
Kotak Securities
Mumbai, October 28, 2025: Today, the benchmark indices experienced a volatile trading session. After a roller-coaster activity, the Nifty ended 30 points lower, while the Sensex was down by 151 points. Among sectors, Metal and PSU Bank indices outperformed, rallying over 1 percent, whereas the Reality index lost the most, shedding over 1 percent.
Technically, after an early morning intraday rally, the market faced resistance near 26,000/84800 and corrected sharply. From the day's highest point, the market shed over 200/700 points. However, in the last hour of trading, it trimmed some losses.
Gaurvav Garg, Lemonn Markets Desk, adds:
Indian equity benchmarks rebounded sharply on Tuesday afternoon, reversing early losses as investors turned optimistic about a possible US Federal Reserve rate cut and progress in US–China trade discussions. The Nifty also recovered from an intraday low of 25,826.15 to trade at 25,944.65. Buying in metal and insurance stocks, led by Tata Steel, JSW Steel and SBI Life Insurance, supported the rebound, while Tech Mahindra and Bajaj Finserv were among the laggards.
Market sentiment improved as investors anticipated a 25-basis-point rate cut by the US Federal Reserve, which could boost global liquidity and attract more flows into emerging markets. Optimism over US–China trade talks further lifted confidence after both sides signaled progress toward a potential deal. Easing volatility also aided sentiment, with the India VIX declining 2 percent to 12.12 after earlier gains. Meanwhile, monthly derivatives expiry contributed to some intraday fluctuations. On the technical front, the Nifty continues to face resistance near the 26,000 mark. A breakout above this level could extend the uptrend, while a drop below 25,900 might weaken momentum.
We believe that the intraday market texture is volatile and non-directional; hence, level-based trading would be an ideal strategy for day traders. On the higher side, 26,000/84800 and 26,050/85000 would act as key resistance zones, while 25,800/84200 could be an important support area for the bulls. A successful breakout above 26,050/85000 could push the market towards 26,150–26,200/85300-85500, while below 25,800/84200, the market is likely to retest the levels of 25,700–25,600/84000-83700.
