Stock market today: Gift Nifty up 106 pts; levels to watch for Nifty, Sensex & Nifty Bank
Nifty futures on the NSE International Exchange traded 105.60 points, or 0.43 per cent, down at 24,795.50, hinting at a positive start for the domestic market on Monday.
- Sep 29, 2025,
- Updated Sep 29, 2025 8:48 AM IST
Indian equity benchmarks indices are poised to open higher on Monday, likely rebounding after their sharpest weekly fall in nearly seven months, with the focus on the central bank's policy decision amid the impact of US tariffs. Besides this, RBI's monetary policy meeting, kicking off today, shall also be in focus.
Nifty futures on the NSE International Exchange traded 105.60 points, or 0.43 per cent, down at 24,795.50, hinting at a positive start for the domestic market on Monday. Share markets got off to a cautious start in Asia on Monday as investors braced for a possible shutdown of the US government. Nikkei was down nearly a per cent, while Hang Seng and KOSPI gained 1.5 per each.
Volatility is set to dominate today’s trade with Nifty likely to extend its bearish tone amid relentless FII outflows. While US markets got a breather with the Dow snapping a 5-day losing streak, focus now shifts to RBI’s policy on October 1 and US jobs data on October 3, said Prashanth Tapse, Senior VP of Research at Mehta Equities.
US stocks ended higher on Friday after mostly in-line inflation data, but the three major indexes posted losses for the week. The Dow Jones Industrial Average rose 299.97 points, or 0.65 per cent, to 46,247.29, the S&P 500 gained 38.98 points, or 0.59 per cent, to 6,643.70 and the Nasdaq Composite rose 99.37 points, or 0.44 per cent, to 22,484.07.
A host of central bank speakers are on the diary this week, with at least four from the Fed and the European Central Bank appearing on Monday alone. The dollar index was steady at 98.134 having benefited from the batch of better economic news last week.
In commodity markets, gold was holding just below a record high at $3,764 an ounce. Oil prices slipped as crude started to flow through a pipeline from the semi-autonomous Kurdistan region in northern Iraq to Turkey for the first time in 2.5 years. Brent dropped 0.8% to $69.57 a barrel, while US crude eased 0.9 per cent to $65.14 per barrel.
Markets step into a data-heavy week, where both domestic and global cues will dictate momentum, said Ajit Mishra, SVP of Research at Religare Broking. "On the domestic front, industrial production data and the RBI’s policy decision will be in focus, along with the expiry of September derivatives contracts, and Updates on the US-India trade deal will be closely tracked," he said.
Provisional data available with NSE suggest that FPIs turned net sellers of domestic stocks to the tune of Rs 5,687.58 crore on Friday. On the other hand, domestic institutional investors (DIIs) turned buyers of Indian equities to the tune of Rs 5,843.21 crore on a net-net basis. Overseas investors have pulled out equities worth Rs 30,143 crore from Indian markets in September so far.
The FPI outflow has largely contributed depreciation in 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. "It can be safely assumed that we are near the trough of the FPI pull out," he said.
Nifty50 & Sensex outlook 24,800/81,200 would act as a key level to watch. Below this, the correction wave is likely to continue. On the downside, the market could retest the levels of 24,500/80,300, said Amol Athawale, VP of Technical Research at Kotak Securities. "Further declines may also occur, potentially dragging the index down to 24,350/79,800, 24300/79,600. Conversely, above 24,800/81,200, a pullback formation could continue up to 25,000-25,100/81800-82,200," he said.
Going ahead, the last line of defence- the 200-day EMA zone of 24,400-24,350, will act as crucial support for Nifty50, said Sudeep Shah, Head of Technical and Derivatives Research at SBI Securities. "Any sustainable move below the 24350 level could trigger further correction toward the 24000 mark. On the upside, resistance has now shifted lower to the 24850–24900 zone," he said.
Nifty Bank outlook Nifty Bank is trading below both the 20-day and 50-day EMAs, and is now approaching the 200-day EMA. A decisive close below the 200-day EMA would reinforce the bearish bias, whereas a sustained move above it could shift sentiment toward the positive side, said Choice Broking. "Given the current price structure, traders are advised to remain cautious and adopt strict risk management."
Bias for Nifty Bank remains down with immediate support at 53,300-53,500. Index holding above the same will lead to consolidation in the range of 53,500-56,000, said Bajaj Broking. "Key resistance is placed at 55,500-56,000 levels in the coming week. While a breach below the support area of 53,500-53,200 will lead to acceleration of the decline in the coming weeks."
Indian equity benchmarks indices are poised to open higher on Monday, likely rebounding after their sharpest weekly fall in nearly seven months, with the focus on the central bank's policy decision amid the impact of US tariffs. Besides this, RBI's monetary policy meeting, kicking off today, shall also be in focus.
Nifty futures on the NSE International Exchange traded 105.60 points, or 0.43 per cent, down at 24,795.50, hinting at a positive start for the domestic market on Monday. Share markets got off to a cautious start in Asia on Monday as investors braced for a possible shutdown of the US government. Nikkei was down nearly a per cent, while Hang Seng and KOSPI gained 1.5 per each.
Volatility is set to dominate today’s trade with Nifty likely to extend its bearish tone amid relentless FII outflows. While US markets got a breather with the Dow snapping a 5-day losing streak, focus now shifts to RBI’s policy on October 1 and US jobs data on October 3, said Prashanth Tapse, Senior VP of Research at Mehta Equities.
US stocks ended higher on Friday after mostly in-line inflation data, but the three major indexes posted losses for the week. The Dow Jones Industrial Average rose 299.97 points, or 0.65 per cent, to 46,247.29, the S&P 500 gained 38.98 points, or 0.59 per cent, to 6,643.70 and the Nasdaq Composite rose 99.37 points, or 0.44 per cent, to 22,484.07.
A host of central bank speakers are on the diary this week, with at least four from the Fed and the European Central Bank appearing on Monday alone. The dollar index was steady at 98.134 having benefited from the batch of better economic news last week.
In commodity markets, gold was holding just below a record high at $3,764 an ounce. Oil prices slipped as crude started to flow through a pipeline from the semi-autonomous Kurdistan region in northern Iraq to Turkey for the first time in 2.5 years. Brent dropped 0.8% to $69.57 a barrel, while US crude eased 0.9 per cent to $65.14 per barrel.
Markets step into a data-heavy week, where both domestic and global cues will dictate momentum, said Ajit Mishra, SVP of Research at Religare Broking. "On the domestic front, industrial production data and the RBI’s policy decision will be in focus, along with the expiry of September derivatives contracts, and Updates on the US-India trade deal will be closely tracked," he said.
Provisional data available with NSE suggest that FPIs turned net sellers of domestic stocks to the tune of Rs 5,687.58 crore on Friday. On the other hand, domestic institutional investors (DIIs) turned buyers of Indian equities to the tune of Rs 5,843.21 crore on a net-net basis. Overseas investors have pulled out equities worth Rs 30,143 crore from Indian markets in September so far.
The FPI outflow has largely contributed depreciation in 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. "It can be safely assumed that we are near the trough of the FPI pull out," he said.
Nifty50 & Sensex outlook 24,800/81,200 would act as a key level to watch. Below this, the correction wave is likely to continue. On the downside, the market could retest the levels of 24,500/80,300, said Amol Athawale, VP of Technical Research at Kotak Securities. "Further declines may also occur, potentially dragging the index down to 24,350/79,800, 24300/79,600. Conversely, above 24,800/81,200, a pullback formation could continue up to 25,000-25,100/81800-82,200," he said.
Going ahead, the last line of defence- the 200-day EMA zone of 24,400-24,350, will act as crucial support for Nifty50, said Sudeep Shah, Head of Technical and Derivatives Research at SBI Securities. "Any sustainable move below the 24350 level could trigger further correction toward the 24000 mark. On the upside, resistance has now shifted lower to the 24850–24900 zone," he said.
Nifty Bank outlook Nifty Bank is trading below both the 20-day and 50-day EMAs, and is now approaching the 200-day EMA. A decisive close below the 200-day EMA would reinforce the bearish bias, whereas a sustained move above it could shift sentiment toward the positive side, said Choice Broking. "Given the current price structure, traders are advised to remain cautious and adopt strict risk management."
Bias for Nifty Bank remains down with immediate support at 53,300-53,500. Index holding above the same will lead to consolidation in the range of 53,500-56,000, said Bajaj Broking. "Key resistance is placed at 55,500-56,000 levels in the coming week. While a breach below the support area of 53,500-53,200 will lead to acceleration of the decline in the coming weeks."