Benchmark indices opened slightly higher on Tuesday, with the Nifty 50 at 24,691.95 compared to its previous close of 24,634.90, trading at 24,658.05, an increase of 23.15 points or 0.09 percent by 9:52 AM. The Sensex opened at 80,541.77 against a prior close of 80,364.94, reaching 80,423.01, up 58.07 points or 0.07 percent at the same time.
These modest gains occurred despite ongoing selling by foreign institutional investors (FIIs), which has adversely affected market sentiment. On September 29, FIIs sold equities valued at over ₹2,830 crore, marking six consecutive sessions of net selling. Conversely, domestic institutional investors (DIIs) countered this by purchasing equities worth ₹3,845 crore on the same day.
“The near-term market structure appears weak. Continued FII selling and the absence of positive triggers are preventing a robust recovery,” stated Dr. VK Vijayakumar, Chief Investment Strategist at Geojit Investments Limited. He added, “Any attempts to rise are facing selling pressure.”
Among the Nifty 50 stocks, JSW Steel led the gainers, trading at ₹1,137.00, which is a 1.32 percent increase from its previous close of ₹1,122.20. Bharat Electronics Limited (BEL) saw a rise of 1.25 percent to ₹404.95, while Power Grid gained 1.18 percent to ₹283.90. Hindalco advanced by 1.09 percent to ₹762.00, and Adani Ports rose by 0.93 percent to ₹1,396.10.
On the downside, InterGlobe Aviation (IndiGo) fell 1.45 percent to ₹5,624.00. Additionally, Larsen & Toubro decreased by 0.98 percent to ₹3,652.30, and ITC dropped 0.79 percent to ₹404.05. Axis Bank fell 0.43 percent to ₹1,127.30, while Tata Motors declined 0.36 percent to ₹670.10.
Market participants are closely watching the Reserve Bank of India’s (RBI) upcoming policy decision, expected to serve as a key domestic market trigger. Ponmudi R, CEO of Enrich Money, remarked, “All eyes are now on the RBI’s policy decision this week, which is anticipated to be a pivotal factor for market direction.” Economists widely predict that the RBI will hold the key interest rate at 5.50 percent through 2025.
“Persistent FPI selling has capped near-term upside for equities, with concerns over U.S. tariffs dampening risk appetite and impacting the rupee,” Ponmudi R added. India’s industrial output growth slightly eased to 4 percent year-on-year in August, hindered by a slowdown in manufacturing.
From a technical standpoint, the Nifty 50 is currently positioned above its 100-day exponential moving average near ₹24,745. “Sustaining above ₹24,745–₹24,800 could prompt short covering toward ₹24,950, while a breakdown could lead to support at ₹24,400,” Ponmudi noted.
In the commodities market, crude oil futures declined on Tuesday morning. December Brent crude futures were priced at $66.57, down 0.78 percent, while November WTI crude futures stood at $62.99, down 0.72 percent. On the Multi Commodity Exchange, October crude futures were trading at ₹5,600, down 0.18 percent from the previous closing price of ₹5,610.
“Crude oil prices are experiencing significant volatility and have fallen from seven-week highs after OPEC+ announced plans to increase output starting in November,” commented Rahul Kalantri, VP Commodities at Mehta Equities Limited.
Gold and silver maintain strong upward momentum amid safe-haven demand linked to concerns over a potential U.S. government shutdown and expectations of additional Federal Reserve rate cuts. In Indian terms, gold has support at ₹1,15,000-₹1,14,680 and resistance at ₹1,15,550-₹1,15,700.
“In light of the ongoing uncertainty and elevated volatility, traders are advised to adopt a cautious ‘wait-and-watch’ approach,” stated Amruta Shinde, Technical & Derivative Analyst at Choice Equity Broking Private Limited.
Published on September 30, 2025.
