Indian rupee ended 11 paise lower at 95.23 per dollar on Wednesday against previous close of 95.12.
Indian benchmark indices ended lower on October 28, with the Nifty closing around the 22,700 mark, dragged down by selling in information technology and oil and gas stocks. Caution ahead of the US Federal Reserve’s policy decision and Brent crude prices holding around $115 per barrel following an attack on a Saudi Arabian refinery further weighed on investor sentiment. At close, the Sensex was down 352.64 points or 0.48 percent at 73,246.03, and the Nifty was down 50.90 points or 0.22 percent at 22,698.85.
The broader markets outperformed the main indices with Nifty midcap index rising 0.4 percent and smallcap index jumps 0.9 percent. Top Nifty losers were Infosys, Reliance Industries, ONGC, HCL Technologies and Bharti Airtel, while gainers were Apollo Hospitals, L&T, Trent, SBI Life Insurance and Interglobe Aviation. Among sectors, Information Technology, Oil & Gas down 2% each, while Realty, energy,FMCG down 0.5 percent each.
However, Auto, Consumer Durable, Media, Pharma up 1% each. Among individual stocks, Jyoti Structures shares gained 15 percent after the company secured an order worth Rs 649 crore, Larsen & Toubro rose 3.7 percent after its Q2 consolidated profit jumped 33 percent, JSW Cement shares declined 1.4 percent after its Q2 consolidated profit fell and Syngene International shares rose 9 percent despite a 52 percent plunge in Q2 profit
Gandhar Oil Refinery India shares slipped 17 percent despite a 368.4 percent surge in Q2 consolidated profit, while Piramal Pharma shares jumped 16 percent after the company turned profitable in the quarter. Steel Authority of India shares fell 5 percent despite a 318.1 percent surge in Q2 consolidated profit. Meanwhile, Mazagon Dock Shipbuilders shares hit a 52-week low after HSBC maintained its 'reduce' rating and cut its target price to Rs 1,680 per share.
Indian rupee ended 11 paise lower at 95.23 per dollar on Wednesday against previous close of 95.12. Around 220 stocks touched 52-week low, including AWL Agri Business, Dalmia Bharat, Waaree Energies, Latent View Analytics, Nestle India, Britannia Industries, HDFC Life Insurance, Mahindra & Mahindra Financial Services, Godrej Consumer Products, HDFC Bank, Colgate-Palmolive India, SBI Cards and Payment Services, JK Lakshmi Cement, Afcons Infrastructure, The Ramco Cements, Finolex Industries, EID Parry, Bharat Dynamics, HUDCO and Mazagon Dock Shipbuilders, among others.
Click to View More Jio Platforms shares closed at Rs 1,419, up 26.8 percent, following a strong market debut. The stock listed at Rs 1,358 on the NSE, commanding a premium of more than 21 percent over its issue price of Rs 1,119. Paras Healthcare shares ended at Rs 730.80, up 5.4 percent, after making a positive market debut. The stock listed at around Rs 720 per share on both the BSE and NSE, at a premium of approximately 4 percent over its issue price.
Outlook for October 29 Vatsal Bhuva, Technical Analyst at LKP Securities 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. Nagaraj Shetti, Senior Technical Research Analyst at HDFC Securities After reversing down from near the key hurdle of around 22800 levels on Tuesday, Nifty witnessed high volatility on Wednesday and closed the day lower by 50 points.
A small green candle was formed on the daily chart with upper and long lower shadow. Technically, this market action signals high volatility in the market near the resistance and recovery was observed from the lower levels. The recent swing lows have been in an ascending order, which is signalling one more attempt towards 22800 + in the near term. Though, Nifty declined on Wednesday, the underlying trend remains positive within high low range of around 22500-22800 levels.
Hence, a decisive move above 22800 is likely to bring renewed buying participation in the market. However, any weakness from here could find support around 22500 levels.
