Stock market today: Gift Nifty down 48 pts; key levels for Nifty, Sensex & Nifty Bank
Nifty futures on the NSE International Exchange traded 47.60 points, or 0.20 per cent, down at 24,959 hinting at a muted start for the domestic market on Monday.
- Oct 6, 2025,
- Updated Oct 6, 2025 8:48 AM IST
Indian benchmarks indices are poised to open marginally lower on Monday even as the central bank's lending reforms drove gains in banks in the last two sessions, while analysts expect quarterly earnings to guide the near-term market trajectory. Traders will be looking to continue the buying momentum, while Tata Capital's Rs 15,500 crore IPO shall also hog the spotlight.
Nifty futures on the NSE International Exchange traded 47.60 points, or 0.20 per cent, down at 24,959 hinting at a muted start for the domestic market on Monday. Asian stocks were rallying sharply higher. Japan's Nikkei zoomed 4.70 per cent after the political booster, while KOSPI soared 2.70 per cent.
The phase of turbulence seems to be fading, with rate-cut hopes from both the RBI and the US Fed driving optimism. A dovish RBI stance, lower inflation estimates, and an upward revision in GDP growth have boosted sentiment, said Prashanth Tapse, Senior VP of Research at Mehta Equities. "While short-term volatility may persist, buy-on-dips remains the preferred strategy," he said.
The S&P 500 eked out a record closing high in a volatile session Friday. The Dow also posted a record closing high, but the Nasdaq ended lower. The Dow Jones Industrial Average rose 238.56 points, or 0.51 per cent, to 46,758.28, the S&P 500 gained 0.44 points, or 0.01 per cent, to 6,715.79 and the Nasdaq Composite lost 63.54 points, or 0.28 per cent, to 22,780.51.
Oil prices rose after OPEC+ announced on Sunday it would increase production by 137,000 barrels per day (bpd) from November, the same modest monthly increase as in October, amid persistent concerns over a looming supply glut. Brent crude futures rose 1.3 per cent to $65.39 a barrel, while US West Texas Intermediate crude was at $61.71, up by 1.4 per cent.
Gold climbed to a record peak, while leading cryptocurrency bitcoin rallied to a lifetime high on Sunday, with investors increasingly turning to alternative assets as a store of value as the US government shutdown frayed nerves. Gold last changed hands around $3,904 after advancing as much as 0.9 per cent earlier to a record $3,919.59.
Globally, uncertainty persists as the ongoing US government shutdown delays key macroeconomic data releases, said Pravesh Gour, Senior Technical Analyst at Swastika Investmart. "Against this backdrop, while Indian equities may find selective pockets of strength, volatility is likely to remain elevated in the near term," he said.
Provisional data available with NSE suggest that FPIs turned net sellers of domestic stocks to the tune of Rs 1,583.37 crore on Friday. On the other hand, domestic institutional investors (DIIs) turned buyers of Indian equities to the tune of Rs 489.76 crore on a net-net basis. Foreign investors pulled Rs 23,885 crore out of Indian equities in September 2025.
FPI outflow also has largely contributed depreciation in Indian Rupee of 3.5 per cent against the dollar. The elevated valuations in India vis a vis other markets and the tepid earnings growth are the principal reasons behind the FPI pull out, said VK Vijayakumar, Chief Investment Strategist at Geojit Investments.
Nifty50 & Sensex outlook 24,800–24,600/80,800-80,200 will act as key support zones in the near future. Above this range, the pullback formation is likely to continue on the higher side, potentially moving up to the 20-day SMA or 25,000/81,400. Further upside may also continue, which could lift the market up to 25,150/81,900, said Amol Athawale, VP of Technical Research at Kotak Securities. "On the flip side, below 24,600/80,200, sentiment could turn negative. Traders may prefer to exit long positions if the index falls below this level."
Nifty trades above its 200-day and 100-day EMAs. On the downside, a breakdown below 24,750 could accelerate weakness towards 24,600, and further down to 24,400. Given the current structure, a “buy on dips” strategy remains favourable, though traders should maintain strict stop-loss measures to manage risk in this volatile market environment, said Choice Broking.
"On the upside, immediate resistance levels are seen at 25,000, followed by 25,120 and 25,340. A sustained move above these levels would confirm bullish continuation, while failure to cross them could keep the short-term trend range-bound," he said.
Nifty Bank outlook Nifty Bank has delivered a stellar performance this week, decisively outperforming the broader market indices. The index has formed a large bullish candle, reflecting sustained buying interest and positive sentiment across the sector on the weekly charts, said Sudeep Shah, Head- Technical and Derivatives Research at SBI Securities.
"Going ahead, considering the current chart structure, the index is likely to continue its northward journey and test the level of 56,200, followed by 57,000 in the short term. While, on the downside, the 20-day EMA zone of 55,000-54,900 will act as important support for the index," he added
Nifty Bank is now trading above its key 21- and 50-day EMAs, indicating that the short- to medium-term trend remains bullish, said Bajaj Broking. "Support levels have also shifted higher, now positioned around 54,800 and 55,000, providing a solid base for further upside. On the upside, immediate resistance is placed at 55,480, corresponding to the previous swing high," he said.
Indian benchmarks indices are poised to open marginally lower on Monday even as the central bank's lending reforms drove gains in banks in the last two sessions, while analysts expect quarterly earnings to guide the near-term market trajectory. Traders will be looking to continue the buying momentum, while Tata Capital's Rs 15,500 crore IPO shall also hog the spotlight.
Nifty futures on the NSE International Exchange traded 47.60 points, or 0.20 per cent, down at 24,959 hinting at a muted start for the domestic market on Monday. Asian stocks were rallying sharply higher. Japan's Nikkei zoomed 4.70 per cent after the political booster, while KOSPI soared 2.70 per cent.
The phase of turbulence seems to be fading, with rate-cut hopes from both the RBI and the US Fed driving optimism. A dovish RBI stance, lower inflation estimates, and an upward revision in GDP growth have boosted sentiment, said Prashanth Tapse, Senior VP of Research at Mehta Equities. "While short-term volatility may persist, buy-on-dips remains the preferred strategy," he said.
The S&P 500 eked out a record closing high in a volatile session Friday. The Dow also posted a record closing high, but the Nasdaq ended lower. The Dow Jones Industrial Average rose 238.56 points, or 0.51 per cent, to 46,758.28, the S&P 500 gained 0.44 points, or 0.01 per cent, to 6,715.79 and the Nasdaq Composite lost 63.54 points, or 0.28 per cent, to 22,780.51.
Oil prices rose after OPEC+ announced on Sunday it would increase production by 137,000 barrels per day (bpd) from November, the same modest monthly increase as in October, amid persistent concerns over a looming supply glut. Brent crude futures rose 1.3 per cent to $65.39 a barrel, while US West Texas Intermediate crude was at $61.71, up by 1.4 per cent.
Gold climbed to a record peak, while leading cryptocurrency bitcoin rallied to a lifetime high on Sunday, with investors increasingly turning to alternative assets as a store of value as the US government shutdown frayed nerves. Gold last changed hands around $3,904 after advancing as much as 0.9 per cent earlier to a record $3,919.59.
Globally, uncertainty persists as the ongoing US government shutdown delays key macroeconomic data releases, said Pravesh Gour, Senior Technical Analyst at Swastika Investmart. "Against this backdrop, while Indian equities may find selective pockets of strength, volatility is likely to remain elevated in the near term," he said.
Provisional data available with NSE suggest that FPIs turned net sellers of domestic stocks to the tune of Rs 1,583.37 crore on Friday. On the other hand, domestic institutional investors (DIIs) turned buyers of Indian equities to the tune of Rs 489.76 crore on a net-net basis. Foreign investors pulled Rs 23,885 crore out of Indian equities in September 2025.
FPI outflow also has largely contributed depreciation in Indian Rupee of 3.5 per cent against the dollar. The elevated valuations in India vis a vis other markets and the tepid earnings growth are the principal reasons behind the FPI pull out, said VK Vijayakumar, Chief Investment Strategist at Geojit Investments.
Nifty50 & Sensex outlook 24,800–24,600/80,800-80,200 will act as key support zones in the near future. Above this range, the pullback formation is likely to continue on the higher side, potentially moving up to the 20-day SMA or 25,000/81,400. Further upside may also continue, which could lift the market up to 25,150/81,900, said Amol Athawale, VP of Technical Research at Kotak Securities. "On the flip side, below 24,600/80,200, sentiment could turn negative. Traders may prefer to exit long positions if the index falls below this level."
Nifty trades above its 200-day and 100-day EMAs. On the downside, a breakdown below 24,750 could accelerate weakness towards 24,600, and further down to 24,400. Given the current structure, a “buy on dips” strategy remains favourable, though traders should maintain strict stop-loss measures to manage risk in this volatile market environment, said Choice Broking.
"On the upside, immediate resistance levels are seen at 25,000, followed by 25,120 and 25,340. A sustained move above these levels would confirm bullish continuation, while failure to cross them could keep the short-term trend range-bound," he said.
Nifty Bank outlook Nifty Bank has delivered a stellar performance this week, decisively outperforming the broader market indices. The index has formed a large bullish candle, reflecting sustained buying interest and positive sentiment across the sector on the weekly charts, said Sudeep Shah, Head- Technical and Derivatives Research at SBI Securities.
"Going ahead, considering the current chart structure, the index is likely to continue its northward journey and test the level of 56,200, followed by 57,000 in the short term. While, on the downside, the 20-day EMA zone of 55,000-54,900 will act as important support for the index," he added
Nifty Bank is now trading above its key 21- and 50-day EMAs, indicating that the short- to medium-term trend remains bullish, said Bajaj Broking. "Support levels have also shifted higher, now positioned around 54,800 and 55,000, providing a solid base for further upside. On the upside, immediate resistance is placed at 55,480, corresponding to the previous swing high," he said.