Market Round-up 29th October 2026 by Motilal Oswal Wealth Management Ltd
• The equity benchmark Nifty rallied over 1%, supported by a decline in crude oil prices below $115 per barrel, the US Federal Reserve’s decision to keep interest rates unchanged, and mixed global market cues. Encouraging quarterly earnings, foreign institutional investors (FIIs) turning net buyers for the second consecutive trading session, and value buying ahead of Diwali Muhurat trading further boosted investor sentiment. The Nifty gained 241 points, or 1.1%, to close at 22,740. The Nifty 500 advance-decline ratio stood at 2:1, indicating broad-based buying interest across the market.
• The Nifty Realty index emerged as the top sectoral gainer, rising 2.5% on bargain hunting. DLF, Lodha Developers, The Phoenix Mills and Prestige Estates gained up to 4%. FMCG stocks also witnessed strong buying interest, supported by improving rural demand and encouraging quarterly earnings. The Nifty FMCG index advanced over 2% following impressive Q2 results from Tata Consumer Products, Varun Beverages and Hindustan Unilever (HUL).
• Mid-cap technology stocks also staged a strong rally, with Birlasoft surging 12% after reporting robust Q2 results. Adani Enterprises and Adani Ports gained up to 6%, supported by encouraging quarterly earnings.
• Among global markets, US equities closed nearly 0.45% higher overnight, while Asian and European markets traded on a mixed note following the Federal Reserve’s decision to maintain interest rates in the 3.75%–4% range. However, the Fed provided limited clarity on its future policy direction, leaving investors uncertain about the possibility of further monetary tightening before year-end. Meanwhile, crude oil prices declined around 1% to $114 per barrel as prospects of renewed peace negotiations eased concerns over potential supply disruptions amid escalating tensions in the Middle East.
Technical Outlook:
• Nifty index opened on a flattish note and maintained a positive bias throughout the session as intraday dips were absorbed by buyers. Support based buying helped the index advance and sustain at higher levels before closing near its upper band. It formed a big bodied bullish candle on the daily frame reflecting strength in the ongoing up move. Now it has to hold above 22900 zones for an up move towards 23100 then 23200 zones while support can be seen at 22800 then 22700 zones.
• S&P BSE Sensex index opened on a flattish note and witnessed strong buying interest from the initial hour lifting the index above 74100 marks from the intraday low near 73200. Buying momentum remained strong throughout the session helping the index sustain its up move. The index finally broke out of its range of the last five sessions and closed above the same. It formed a large bullish candle on the daily chart, indicating a positive shift in market momentum and improving buying interest. Now it has to hold above 74000 zones for a bounce towards 74500 then 74700 levels while on the downside support is seen at 73700 then 73500 zones.
Derivative Outlook:
• Nifty future closed positive with gains of 1.21% at 23053 levels. Positive setup seen in Laurus Labs, Divis Labs, DLF, JSW Energy, Phoenix Mills, Bank of Baroda, Kotak Bank, Blue Star, Eternal and Paytm while weakness seen in GMR Airport, Cummins, Crompton Greaves, Info Edge, Vishal Mega Mart, Suzlon, Yes Bank, Havells, Hindalco and MFSL.
• Jupiter Wagon – Company won order worth Rs1,140 crore from the Ministry of Railways for 2,583 wagons.
• Dilip Buildcon – Company securing an LoA valued at Rs688.23 crore from NHAI.
• CG Power – Axiro Semiconductor, a 100% subsidiary of CG Power, has invested in Thinsic to strengthen its capabilities in next-generation silicon carbide power semiconductors. The transaction aligns with CG Power's multi-pronged strategy to scale up advanced chip design and power electronics expertise.
• OnMobile Global – Company announced a partnership with Poorvika Appliances & Mobile stores to expand the distribution of its ONMO+ Smart Console. The deal enables consumers in Tamil Nadu, Karnataka, and Puducherry to access the cloud gaming device through physical retail channels.
• Paras Defence Q2 Revenue Up 42.5% – Revenue Up 42.5% At Rs 151 Cr Vs Rs 106 Cr (YoY). PAT Up 63.2% At Rs 31 Cr Vs Rs 19 Cr (YoY). EBITDA Up 48.3% At Rs 44.5 Cr Vs Rs 30 Cr (YoY) and EBITDA Margin (GU) 140 Bps At 29.4% Vs 28% (YoY).
• On option front, maximum Call OI is at 23500 then 23000 strike while maximum Put OI is at 22700 then 22500 strike. Call writing is seen at 23500 then 23450 strike while Put writing is seen at 22800 then 22900 strike. Option data suggests a broader trading range in between 22500 to 23400 zones while an immediate range between 22700 to 23200 levels.
Global Market Update 8.4%
• Asian Market – Asian stocks fell as concerns over the sustainability of the AI trade resurfaced following lackluster results from industry heavyweights Alphabet Inc. and Samsung Electronics Co.
• European Market – European stocks outperformed global peers on Thursday as a slate of upbeat corporate earnings proved attractive at a time of renewed worries around the artificial intelligence trade. Both Germany and France Index gained nearly 1% each.
• US Data – Personal Income and Personal and PCE data
• Commodity – Oil prices declined 1% to $114/bbl as prospects of renewed peace negotiations eased fears of supply disruptions stemming from escalating tensions in the Middle East.
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