Stock markets today: Gift Nifty down 24 pts; key levels to watch for Nifty & Nifty Bank
Nifty futures on the NSE International Exchange traded 24.30 points, or 0.10 per cent, down at 24,754, hinting at a muted start for the domestic market on Wednesday.
- Oct 1, 2025,
- Updated Oct 1, 2025 8:37 AM IST
Indian benchmark indices are set to open on a muted note on Wednesday, with investors anticipating dovish signals from the Reserve Bank of India's policy decision to counter risks from US tariffs and H-1B visa fee hike, even as they expect it to hold rates steady.
Nifty futures on the NSE International Exchange traded 24.30 points, or 0.10 per cent, down at 24,754, hinting at a muted start for the domestic market on Wednesday. Asian markets hesitated after a solid quarter of gains. Nikkei was seen lower by a per cent, while KOSPI rose in the early trade. Hang Seng remained shut.
Investors await US consumer confidence and JOLTS job openings, said Siddhartha Khemka, Head of Research at Motilal Oswal Financial Services. “Overall, we expect the market to remain range-bound, tracking global cues, macro-economic data and RBI policy outcome where a status quo on the repo rate is widely expected,” he added.
Wall Street's three major indexes managed to close Tuesday's choppy session higher. The Dow Jones Industrial Average rose 81.82 points, or 0.18 per cent, to 46,397.89, marking its latest record closing high. The S&P 500 gained 27.25 points, or 0.41 per cent, to 6,688.46 and the Nasdaq Composite added 68.86 points, or 0.31 per cent, to 22,660.01.
Oil prices steadied on Wednesday after two consecutive days of losses as investors weighed potential OPEC+ plans for a larger output hike next month against the prospect of shrinking inventories in the US. Brent was 0.2 per cent higher at $66.16, while US crude inched up 0.1 per cent to $62.46 a barrel.
The dollar index held steady after three straight days of losses and was last at 97.84. In the Treasuries market, yields were steady in Asia. The benchmark U.S. 10-year Treasury yield was flat at 4.1561 per cent having risen 1 basis point overnight.
September series expiry, RBI policy outcome, Wall Street cues and money moving into oversold index names may dominate trade setup on Dalal Street, said Vikram Kasat, Head Advisory at PL Capital. “Participants may watch out for some reversal in stocks that are now getting ready for a sharp technical bounce post initial swings due to derivatives expiry,” he said.
Provisional data available with NSE suggest that FPIs turned net sellers of domestic stocks to the tune of Rs 2,327.09 crore on Tuesday. On the other hand, domestic institutional investors (DIIs) turned buyers of Indian equities to the tune of Rs 5,761.63 crore on a net-net basis.
RBI monetary policy today The RBI's monetary policy decision is due at 10 am today, with nearly three-quarters of economists in a Reuters poll expecting rates to remain unchanged. The central bank held rates steady at its August meeting, following its surprise, front-loaded 50-basis-point rate cut in June.
“We expect the RBI to maintain a pause on the rate cuts in the upcoming Monetary Policy meeting. The recent GST rationalisation is expected to provide a short-term boost to consumption, specially ahead of the festive season,” said Vinayak Magotra, Product Head & Founding Team at Centricity WealthTech.
Nifty50 outlook Technically, the market action indicates a choppy movement in the market or a falling wedge type formation. The downside momentum has been reduced in the last couple of sessions and Nifty placed above the key cluster support of 24,500-24,400 levels, said Nagaraj Shetti, Senior Technical Research Analyst at HDFC Securities.
“The underlying trend of Nifty remains weak with choppy movement. Further decline from here could drag Nifty down to the support of 24,500-24,400 levels. A sustainable move above 24,750-24,800 levels could open a short term bounce back in the market,” he said.
The zone of 24500-24450 will act as crucial support for the NIfyt50 index as an upward-sloping trendline is placed in that region. While, on the upside, the zone of 24800-24850 will act as a crucial hurdle for the index, said Sudeep Shah, Head of Technical and Derivatives Research at SBI Securities.
Nifty Bank outlook Nifty Bank is pointing to weak short-term momentum and a downward bias unless these levels are convincingly crossed, said Bajaj Broking. “Key supports are placed at 54,080 and 53,800, the latter coinciding with the 200-day EMA, making this a crucial zone for buyers to defend. A rebound from here could trigger a short-lived recovery. Resistance levels stand at 54,850 and 55,000.”
Nifty Bank has defended the low of the Doji candle placed at 54,225, reflecting strength, said Hrishikesh Yedve, AVP Technical and Derivative Research at Asit C. Mehta Investment Intermediates. “A decisive move above 54,700 could propel the index towards the immediate resistance at 54,890. A sustained breakout above 54,890 may further extend the up move towards 55,000-55,200.”
Indian benchmark indices are set to open on a muted note on Wednesday, with investors anticipating dovish signals from the Reserve Bank of India's policy decision to counter risks from US tariffs and H-1B visa fee hike, even as they expect it to hold rates steady.
Nifty futures on the NSE International Exchange traded 24.30 points, or 0.10 per cent, down at 24,754, hinting at a muted start for the domestic market on Wednesday. Asian markets hesitated after a solid quarter of gains. Nikkei was seen lower by a per cent, while KOSPI rose in the early trade. Hang Seng remained shut.
Investors await US consumer confidence and JOLTS job openings, said Siddhartha Khemka, Head of Research at Motilal Oswal Financial Services. “Overall, we expect the market to remain range-bound, tracking global cues, macro-economic data and RBI policy outcome where a status quo on the repo rate is widely expected,” he added.
Wall Street's three major indexes managed to close Tuesday's choppy session higher. The Dow Jones Industrial Average rose 81.82 points, or 0.18 per cent, to 46,397.89, marking its latest record closing high. The S&P 500 gained 27.25 points, or 0.41 per cent, to 6,688.46 and the Nasdaq Composite added 68.86 points, or 0.31 per cent, to 22,660.01.
Oil prices steadied on Wednesday after two consecutive days of losses as investors weighed potential OPEC+ plans for a larger output hike next month against the prospect of shrinking inventories in the US. Brent was 0.2 per cent higher at $66.16, while US crude inched up 0.1 per cent to $62.46 a barrel.
The dollar index held steady after three straight days of losses and was last at 97.84. In the Treasuries market, yields were steady in Asia. The benchmark U.S. 10-year Treasury yield was flat at 4.1561 per cent having risen 1 basis point overnight.
September series expiry, RBI policy outcome, Wall Street cues and money moving into oversold index names may dominate trade setup on Dalal Street, said Vikram Kasat, Head Advisory at PL Capital. “Participants may watch out for some reversal in stocks that are now getting ready for a sharp technical bounce post initial swings due to derivatives expiry,” he said.
Provisional data available with NSE suggest that FPIs turned net sellers of domestic stocks to the tune of Rs 2,327.09 crore on Tuesday. On the other hand, domestic institutional investors (DIIs) turned buyers of Indian equities to the tune of Rs 5,761.63 crore on a net-net basis.
RBI monetary policy today The RBI's monetary policy decision is due at 10 am today, with nearly three-quarters of economists in a Reuters poll expecting rates to remain unchanged. The central bank held rates steady at its August meeting, following its surprise, front-loaded 50-basis-point rate cut in June.
“We expect the RBI to maintain a pause on the rate cuts in the upcoming Monetary Policy meeting. The recent GST rationalisation is expected to provide a short-term boost to consumption, specially ahead of the festive season,” said Vinayak Magotra, Product Head & Founding Team at Centricity WealthTech.
Nifty50 outlook Technically, the market action indicates a choppy movement in the market or a falling wedge type formation. The downside momentum has been reduced in the last couple of sessions and Nifty placed above the key cluster support of 24,500-24,400 levels, said Nagaraj Shetti, Senior Technical Research Analyst at HDFC Securities.
“The underlying trend of Nifty remains weak with choppy movement. Further decline from here could drag Nifty down to the support of 24,500-24,400 levels. A sustainable move above 24,750-24,800 levels could open a short term bounce back in the market,” he said.
The zone of 24500-24450 will act as crucial support for the NIfyt50 index as an upward-sloping trendline is placed in that region. While, on the upside, the zone of 24800-24850 will act as a crucial hurdle for the index, said Sudeep Shah, Head of Technical and Derivatives Research at SBI Securities.
Nifty Bank outlook Nifty Bank is pointing to weak short-term momentum and a downward bias unless these levels are convincingly crossed, said Bajaj Broking. “Key supports are placed at 54,080 and 53,800, the latter coinciding with the 200-day EMA, making this a crucial zone for buyers to defend. A rebound from here could trigger a short-lived recovery. Resistance levels stand at 54,850 and 55,000.”
Nifty Bank has defended the low of the Doji candle placed at 54,225, reflecting strength, said Hrishikesh Yedve, AVP Technical and Derivative Research at Asit C. Mehta Investment Intermediates. “A decisive move above 54,700 could propel the index towards the immediate resistance at 54,890. A sustained breakout above 54,890 may further extend the up move towards 55,000-55,200.”