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Markets likely to make negative start amid mixed global cues
Oct-29-2026

Indian equity markets are likely to make negative start on Thursday tracking mixed cues from global peers after the US Federal Reserve held interest rates steady. There will be some volatility in the markets ahead of Sensex weekly and monthly expiry of derivatives contracts. However, some support may come as oil prices traded with marginal cuts as traders assessed fresh diplomatic efforts in West Asia to prevent a possible resumption of US military strikes on Iran. Also, foreign institutional investors bought equities worth Rs 871 crore, extending their buying streak.

Some of the key factors to be watched: 

Industrial output slows to 6.7% in September: Industrial production growth slowed to 6.7 per cent in September compared to compared to 8% in August, mainly due to sluggish performance in manufacturing and mining activities.

Goyal interacts with export promotion councils, calls for greater export competitiveness: Union Minister of Commerce and Industry, Piyush Goyal, interacted with representatives of Export Promotion Councils (EPCs) to review the prevailing export scenario, discuss emerging opportunities and challenges in international trade, and deliberate on measures to further strengthen India’s export competitiveness.

India, Liechtenstein discuss investment under EFTA TEPA: Commerce and Industry Minister Piyush Goyal met Liechtenstein's Hereditary Prince Alois to discuss strengthening economic ties and exploring investment opportunities under the India-European Free Trade Association (EFTA) Trade and Economic Partnership Agreement (TEPA).

Cabinet approves Container Manufacturing Promotion Scheme: The Union Cabinet has approved the Container Manufacturing Promotion Scheme (CMPS) with budgetary outlay of Rs 10,000 crore upto FY 2039-40 envisages to establish a globally competitive container manufacturing ecosystem in India, reduce import dependence and strengthen supply-chain resilience.

Textiles Ministry to reopen PLI scheme portal: The government said the Textiles Ministry is set to reopen the application portal for the Production Linked Incentive (PLI) Scheme for textiles to accept new applications under Round 4 from 1 November to December 31.

On the global front: The US markets ended higher on Wednesday after the US Federal Reserve left its key policy rate unchanged. Asian markets are trading mostly in red on Thursday as disappointing results from major technology companies reignited concerns over the sustainability of heavy investments in artificial intelligence.

Back home, Indian equity benchmarks recovered most of their sharp intraday losses but ended lower on Wednesday, dragged by rising crude oil prices amid renewed concerns over supply disruptions following Houthi attacks on Saudi Arabia, overshadowing ongoing diplomatic efforts. Traders also remained cautious ahead of the US Federal Reserve's policy decision. Finally, the BSE Sensex fell 352.64 points or 0.48% to 73,246.03 and the CNX Nifty was down by 50.90 points or 0.22% to 22,698.85. 

Some of the important factors in trade: 

India hopes to boost exports to China, ASEAN in coming years: Regarding India-China trade relations, Commerce and Industry Minister Piyush Goyal has said that India is open to Chinese suppliers meeting its growing import needs, even as it will take action through established legal processes against any unfair pricing.

Fresh non-performing assets in Banking Sector likely to rise in FY27: Ratings agency Icra in its latest report has said that Fresh non-performing assets (NPA) in the banking sector are expected to increase during FY27, with private sector banks expected to face relatively higher pressure due to their exposure to unsecured retail and micro, small and medium enterprise (MSME) loans.  

RBI Governor urges states to adopt prudent borrowing, quality spending for fiscal stability: Reserve Bank of India (RBI) Governor Sanjay Malhotra has urged state governments to adopt prudent borrowing strategies, improve the quality of public expenditure and strengthen cash management practices to safeguard their fiscal health over the longer term.

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