Nifty Outlook for October 28: New series begins with Jio Platform listing, US Fed decision
Executive Brief • Key Highlights
Fast factual intelligence distilled for busy investors, executives, and answer bots:
- ✓The Nifty 50 ended Tuesday’s session marginally lower at 22,750.
- ✓Markets now look toward Wednesday for fresh triggers, including the US Fed decision and the Jio Platforms listing.
- ✓Nagaraj Shetti of HDFC Securities said, "The underlying market trend remains positive and expects the Nifty to eventually break above 22,800."
Story at a Glance
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- MARKET
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- CNBC TV18
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- 3 Minute(s)
- Market Focus
- India Economy
The Nifty 50 ended Tuesday's monthly expiry session marginally lower at around 22,750, as selling pressure near the 22,800-resistance level offset buying interest at lower levels.
The benchmark opened on a mildly negative note, tracking cues from GIFT Nifty, before recovering during the first half of the session. However, a sharp mid-session decline wiped out the initial gains, with a late recovery helping the index pare losses towards the close.
After rebounding from its intraday lows on Monday, the index appeared to consolidate around a key resistance level, leaving the near-term outlook range-bound to mildly positive.
Information technology (IT) stocks witnessed profit booking, while financial stocks remained under pressure. Capital market stocks extended their gains amid reports concerning potential changes to long-term capital gains (LTCG) tax and securities transaction tax (STT), with BSE rising more than 2%.
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