Stock market outlook today, 29 Oct: Sensex, Nifty prediction - DJIA, S&P, NASDAQ, GIFT Nifty, Kospi, Nikkei, Taiwan cues
Stock market prediction for Thursday, 29 October, 2026: The Indian stock market is likely to open on a higher note, as GIFT Nifty signalled positive start on Thursday, 29 October.
Meanwhile, Asian markets traded broadly higher, while US stock futures remained choppy and and rangebound after US Federal Reserve maintained status quo.
“Indian equities are likely to open mildly higher, with GIFT Nifty trading near 22,750. However, the opening gain may remain selective unless the Nifty decisively crosses 22,800, as the Federal Reserve’s policy message, elevated crude and high US bond yields continue to restrict broader risk-taking,” said Hariselvan Radhakrishnan, Founder & CEO of HST Wealth.
Benchmark indices Sensex and Nifty ended lower on Wednesday, with the Sensex falling 352 points and the Nifty settling below the 22,700 mark. Selling pressure in IT stocks and heavyweight Reliance Industries, coupled with elevated crude oil prices and caution ahead of the US Federal Reserve’s policy decision, weighed on market sentiment.
The 30-share BSE Sensex opened in the red and plunged 995 points to hit an intraday low of 72,603.57 during morning trade. It recovered some of its losses later in the session to close at 73,246.03, down 352.64 points, or 0.48%. The 50-share NSE Nifty declined 50.90 points, or 0.22%, to settle at 22,698.85.
“Markets traded volatile on Wednesday and ended marginally lower as elevated crude oil prices, geopolitical uncertainty and caution ahead of the US Federal Reserve’s policy decision weighed on investor sentiment. The Nifty settled around 22,698, down 0.22%, after slipping below the 22,500 mark during the session, reflecting continued uncertainty and a lack of sustained buying support,” said Ajit Mishra, SVP – research, Religare Broking.
Gift Nifty was trading around the 22,766 level, up nearly 33 points or 0.15% from the Nifty futures’ previous close, indicating a positive opening for the Indian stock market indices.
The benchmark index witnessed a weak session, with the BSE SENSEX closing at 73,246.03, down 352.64 points (-0.48%). It opened at 73,253.44, touched an intraday low of 72,603.57, and made a high of 73,525.44. Despite recovering from the day's lows, the index remained under pressure and ended the session in negative territory.
On the Sensex technical outlook, Sachin Gupta, VP – Technical Research at Choice Equity Broking Private Limited, said that the 72,600–73,000 zone remains the immediate support area, while resistance is placed around 73,500–73,800. The broader trading range stands at 72,600–73,800, indicating a sideways market structure. A sustained move above resistance could support a recovery, whereas a decisive break below support may trigger further weakness.
“For the coming session, the SENSEX is likely to maintain a sideways trend with a cautious undertone, as resistance near 73,500 continues to limit the recovery. Holding above 72,600–73,000 will be crucial for stabilisation, while a breakdown below this support zone could invite further selling pressure. On the upside, a sustained move above 73,500–73,800 may improve sentiment and support further gains. Until a decisive breakout or breakdown occurs, traders should remain selective and monitor these key levels closely,” Gupta said.
On the Nifty 50 outlook, Vatsal Bhuva, Technical Analyst at LKP Securities, said that the Nifty index remains range-bound on the daily chart, consolidating within the broader 22,400–22,800 band.
“Key support is placed at 22,500, where solid buying interest repeatedly emerges, while 22,800 acts as formidable resistance after the index failed to hold 22,700 during market hours. A decisive breakout beyond these levels will trigger the next trending move. With elevated crude oil, US 10-year yields topping 5%, and India VIX above 15, traders should maintain caution and strictly align strategies with the prevailing broader trend,” Bhuva said.
Wall Street witnessed a choppy, range-bound session on Wednesday, with all three major US benchmark indices ending marginally higher. Investors largely shrugged off the US Federal Reserve’s decision to keep interest rates unchanged, shifting their attention towards the central bank’s December policy announcement.
Nasdaq futures fell nearly 350 points in early trading on Thursday, following the latest earnings reports from major technology companies, including Google parent Alphabet and Microsoft.
Meanwhile, the Dow Jones Industrial Average had gained 0.2%,
S&P 500
On the other hand, S&P 500 advanced 0.3% each
South Korean markets traded near record highs as momentum from the recent historic rally began to ease. The Kospi climbed 1.03% to 6,074.43 points, while SK Hynix shares crossed the 1,537,000-won mark after the US Federal Reserve kept interest rates unchanged.
Japanese equities also advanced, with the Nikkei 225 rising 0.79% to 64,460.44. Meanwhile, the US Federal Reserve held interest rates steady at 3.75%–4.00%. However, two dissenting votes and persistent inflation concerns pushed 10-year US Treasury yields higher, dampening momentum in technology stocks.
Taiwanese stock market snapped its gaining streak with Taiex index falling over 0.25% to 46,918.68 on Thursday.
Vaamanaa covers business and stock market news. Started in 2020, she has been producing news on digital platforms for over 4.5 years now. She writes on markets, commodities, IPOs, and industry. She has worked for news channels like Jagran New Media and Business Insider India. You can reach out to her at vaamanaa.sethi@htdigital.in.
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