The Oil and Gas index outperformed, rallying over 2.25 percent, whereas the Capital Market index experienced the most decline, shedding over 1.79 percent.
Shrikant Chouhan,
Head Equity Research,
Kotak Securities:
Mumbai, October 29, 2025: Today, the benchmark indices maintained their positive momentum. The Nifty closed higher by 118 points, while the Sensex was up by 369 points. Among sectors, the Oil and Gas index outperformed, rallying over 2.25 percent, whereas the Capital Market index experienced the most decline, shedding over 1.79 percent.
Technically, after a positive open, the market continued its upward momentum on daily charts, forming a bullish candle. On intraday charts, it is holding a higher bottom formation, which is largely positive.
For day traders, 26,000/84800 would act as a key support level. Above this, the market could continue its positive momentum towards 26,150-26,250/85300-85500. On the flip side, below 26,000/84800, we could see a quick intraday dip up to 25,900/84500. Further downside may also continue, potentially dragging the market down to 25,820/84200.
Gaurav Garg, Research Analyst Lemonn Markets Desk, adds: Indian markets traded higher on Wednesday amid volatility, supported by positive cues from global developments and optimism over a potential India–US trade deal. The Sensex rose about 350 points to hover around the 85,000 mark, while the Nifty gained roughly 120 points to trade above 26,000. Sentiment improved after US President Donald Trump stated that he would pursue a trade deal with India, lifting hopes of stronger bilateral economic ties. However, mutual fund AMC stocks came under pressure following SEBI’s proposal to reduce the expense ratio for mutual funds, which could impact industry profitability.
The Nifty Bank index remained largely flat, about 350 points below its recent high, though buying interest on dips supported broader sentiment. Among the top gainers in the Nifty 500 pack were Bluedart, SAIL, GPIL, Adani Green, and Graphite India. Investors are also focused on a busy earnings day, with key companies such as Larsen & Toubro (L&T), BHEL, APL Apollo, HPCL, LIC Housing Finance, Mahanagar Gas, NTPC Green, PB Fintech, RailTel, and SAIL set to report their quarterly results.
