Indian equity markets are likely to open lower on Thursday, October 29, 2026, with the Nifty 50 potentially slipping below 22,600 amid elevated crude oil prices, weak global technology sentiment and continued selling pressure near key resistance levels. Brent crude is hovering around $115 per barrel, keeping inflation concerns in focus.
The Nifty has struggled to sustain levels above 22,800 over the past five sessions, while 22,500 remains a crucial support zone. The Bank Nifty recovered above 54,000 in the previous session, with 54,500 acting as the next key resistance. Investors will track the monthly expiry of Sensex contracts, global cues following the US Federal Reserve's policy decision, and a heavy earnings calendar.
Stocks to Watch Today
KPIT Technologies: JPMorgan upgraded the stock to Neutral from Underweight with a target price of ₹520, citing better-than-expected quarterly revenue and margins.
Hero MotoCorp: Investors will assess the company's latest quarterly results and management commentary.
Trent: The company's quarterly results are due, making the stock a key focus.
Asian Paints: Quarterly earnings and management commentary will be closely watched.
Coal India: The company is scheduled to report its quarterly results.
InterGlobe Aviation (IndiGo): Investors will monitor its earnings announcement.
GE Vernova T&D: The stock is in focus amid company-specific developments.
Force Motors: Net profit fell 16.2% year-on-year to ₹294 crore, while revenue rose 40.6% to ₹2,925 crore. EBITDA increased 19.9% to ₹434 crore, but the margin declined to 14.8% from 17.4%.
Sudeep Pharma: Net profit rose 12.7% to ₹52 crore, revenue increased 20.9% to ₹197 crore, and EBITDA climbed 32% to ₹73.2 crore.
PNB Housing Finance: Net profit increased 32.8% year-on-year to ₹627 crore, while net interest income rose 16.3% to ₹861.2 crore.
Birlasoft: Net profit grew 37.5% to ₹160 crore and revenue increased 6.6% to ₹1,416 crore, although margins contracted to 13.4% from 14.5%.
United Spirits: Net profit declined 2.1% to ₹462 crore, while revenue grew 2.8% to ₹3,258 crore. EBITDA fell 4.3% to ₹643 crore.
Meesho: Revenue increased 11.3% quarter-on-quarter to ₹4,132 crore, while its net loss remained broadly unchanged at ₹132 crore.
Global Market Cues and Brokerage Calls
Technology stocks: Investors will monitor the reaction to Alphabet's earnings miss and Samsung Electronics' results, which could influence sentiment toward Indian IT stocks.
Vedanta Aluminium: CLSA maintained an Outperform rating with a target price of ₹525, citing lower costs and expansion plans.
Hyundai Motor India: CLSA retained an Outperform rating with a ₹2,300 target, highlighting improving margins and potential export growth.
TVS Motor: Nomura maintained a Buy rating with a target price of ₹4,605, citing growth opportunities in premium motorcycles, electric vehicles and exports.
JSW Energy: Brokerage views were mixed. Jefferies maintained Buy with a ₹720 target, while CLSA retained Hold and cut its target to ₹522.
CarTrade Tech: Nomura maintained Buy with a ₹3,377 target, despite slower-than-expected consumer business growth.
Hexaware Technologies: The company narrowed its 2026 margin guidance to 13–13.5% from 13–14%, citing continued weakness in the travel segment amid the West Asia conflict.
United Spirits: Jefferies maintained Buy with a target price of ₹1,560.
Gold, Silver and Currency
Gold and silver prices rose in early global trade after the US Federal Reserve kept interest rates unchanged. COMEX gold futures were quoted at $4,073.70 per ounce, up 0.55%, while silver futures advanced 0.99% to $54.195 per ounce.
In the domestic market, gold prices in New Delhi had risen by ₹700 to ₹1.46 lakh per 10 grams on Wednesday, while silver remained unchanged at ₹1.98 lakh per kilogram.
Other Corporate Developments
SEBI: Signed a memorandum of understanding with the Bank of England to strengthen cooperation and information exchange concerning clearing corporations.
Mumbai airports: A meeting between Adani Airports and foreign airlines over a proposed shift of international flights from Mumbai's Terminal 2 to Navi Mumbai Airport ended without an agreement.
Awfis: Launched premium workspaces covering approximately 1.45 lakh square feet across key metropolitan cities.
Market levels to watch: Nifty support at 22,500 and resistance at 22,800; Bank Nifty support near Wednesday's low of 53,626 and resistance at 54,500.
Disclaimer: This article is for informational and educational purposes only and should not be construed as investment advice or a recommendation to buy or sell any securities. Stock market investments are subject to market risks. Readers should consult a SEBI-registered investment adviser before making investment decisions. The News Strike does not guarantee the accuracy or completeness of the information presented and shall not be liable for any losses arising from decisions based on this content.
