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Informist, Wednesday, Oct. 29, 2025

 

By Akash Mandal

 

MUMBAI – Benchmark indices are likely to stay in a relatively narrow range on Thursday and may face some profit-booking at higher levels, analysts said. The index is likely to move in a range of 25900-26200 in the next few sessions, they said. Investors will await the US Federal Reserve's policy decision, due later in the day, and look for cues on the central bank's interest rate trajectory. The Fed is widely expected to cut rates by 25 basis points in this meeting.

 

"The level of 26100 has now emerged as a strong and immediate resistance for the (Nifty 50) index... however, given the prevailing bullish momentum observed over the past few weeks, a breakout above this zone should not be ruled out," Ashish Sherigar, technical analyst at NVS Brokerage, said. "A decisive move above 26100 could open the way for further upside towards 26150 and 26250 levels," Sherigar said. A fall below the 26000 level, however, may lead to a short-term correction, with the next support levels placed at 25850 and 25720, he said. 

 

On Wednesday, the Nifty 50 closed at 26053.90 points, up 117.70 points or 0.5%, closing above the psychologically crucial level of 26000 points for the first time since Sept. 27, 2024. The BSE Sensex closed at 84997.14 points, up 368.97 points or 0.4%. "... market participants preferred to wait ahead of the Fed rate decision and its forward-looking commentary before pushing the index above the recent high. Sentiment remains intact with a strong bullish technical setup," Rupak De, senior technical analyst at LKP Securities, said in a note. 

 

A whopping 18 Nifty 200 companies are slated to report their September quarter results Thursday, including Nifty 50 constituents Cipla, NTPC, and ITC. Cipla is expected to report a consolidated net profit of INR 13.97 billion for the September quarter, up 7% on year, aided by better performance in India and other countries, which offset market share erosion and pricing pressure in the US. 

 

NTPC is seen reporting a net profit of INR 44.93 billion for the reporting quarter, down over 3% on year. This would mark the first year-on-year decline in profits in six quarters, due to limited overall capacity additions and weak power demand. Fast-moving consumer goods major ITC is expected to report a 2.2% on-year increase in its net profit to nearly INR 51 billion, powered by a rise in cigarette volumes.  End

 

Edited by Saji George Titus

 

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