Summary of this article
Stock Market Opening Cues: D-street is expected to react to multiple cues on October 28 such as the announcement of Q2 results and changes in commodity prices.
Stock Market Cues: The Gift Nifty opened marginally lower and continued to trade lower, hovering close to the 26,050 levels down by 12 points or 0.05 per cent in the early hours of October 28. The headline indices are expected to open lower tracking the movement of the Gift Nifty. Notably, the benchmark indices ended in the green on October 28. During the session, the Nifty 50 also came close to its all-time high.
On October 27, the Nifty 50 surged to hit an intraday high at 26,005.95 levels coming close to the all-time high of 26,104.2. On the other hand the Sensex surged to an intraday high of 84,932.08 levels. However, the headline indices pared some of the gains as the session ended. The Nifty 50 closed at 25,966.05 up by 170.9 points or 0.66 per cent and the Sensex closed at 84,778.84 up by 566.96 points or 0.67 per cent.
Stock Market Cues On October 28
On October 28, D-street is set to react to several overnight changes such as the signing of a China-ASEAN free-trade-agreement (FTA), commodity prices changes, Q2 results and institutional inflows:
China-ASEAN FTA
The Association of Southeast Asian Nations (ASEAN) inked an upgrade to their agreement with China. The new FTA includes sections on digital and green economy. Notably, the ASEAN comprises 11 countries such as Brunei Darussalam, Cambodia, Indonesia, Laos, Malaysia, Myanmar, The Philippines, Singapore, Thailand, Vietnam, and Timor-Leste (which joined in 2025). The new agreement comes at a time when India is still dealing with a widening trade deficit with ASEAN under its own FTA. The new agreement can potentially exacerbate the imbalance.
Q2 Results Today
The stock market is expected to react to the announcement of financial results by around 60 companies. On October 28 some of the major companies scheduled to announce their results include TVS Motor Company, Adani Green Energy, Tata Capital, Jindal Steel, and Shree Cements.
FII Inflows
Foreign institutional investors turned net sellers of Indian equities on October 27. FIIs net sold equities worth Rs 55.58 crore. On the other hand domestic institutional investors (DIIs) net purchased equities worth Rs 2,492.12 crore.
Crude Oil Prices On October 28
Crude oil prices inched higher on October 28, the price of Brent Crude remained around $65.65 up by $0.03 or 0.05 per cent and the price of West Texas Intermediate crude remained around $65.66 up by $0.04 or 0.06 per cent.
Gold Rate On October 28
Gold prices continued to witness declines on October 28, the price of 24 karat gold remained around Rs 12,327 per gram, the price of 22 karat gold remained around Rs 11,299 per gram and the price of 18 karat gold remained around Rs 9,245 per gram.
Asian Indices Trade Mixed
Asian indices traded mixed on October 28, the Nikkei 225 and the KOSPI traded in the red down by 0.15 per cent and 1.15 per cent respectively. On the other hand the Shanghai Composite and the Hang Seng traded in the green up by 0.21 per cent and 0.22 per cent respectively.
US Market Indices
US market indices finished in the green on October 27, the Nasdaq Composite, S&P 500 and Dow Jones Industrial Average closed higher by 1.86 per cent, 1.23 per cent and 0.71 per cent respectively.
