Cautious mood to prevail at Dalal Street on Wednesday

Domestic market are likely to open on negative note on Wednesday, despite positive global markets. Gift Nifty at 22,595 signals a gap down opening of 200 points. However, analysts expect consolidation phase to continue even as crude oil price remains at elevated level. The focus will also be on US Federal Reserve’s policy outcome, that will be known later tonight.

Markets will see stock-specific action due to key results. Among the companies that will declare their September quarter results included HUL, Adani Ports & SEZ, Adani Enterprises, Hyundai Motors India, Vedanta, TVS Motor and Hero MotoCorp. 

Ponmudi R, CEO of Enrich Money, said Indian equities are likely to remain cautious ahead of the US Federal Reserve’s policy decision, with investors also tracking movements in global markets and energy prices. “WTI crude continues to trade around $100–101 a barrel, keeping concerns over sustained cost pressures and the broader economic outlook in focus.”

The near-term direction of Indian equities is likely to hinge on the Fed’s policy signals, movements in crude oil prices and foreign portfolio investor flows. The rupee’s performance will also remain an important variable, particularly if elevated oil prices intensify pressure on India’s external balances. With investors likely to reassess positions ahead of the policy announcement, volatility may persist as global cues shape sentiment through the session, he said.

According to Hariselvan Radhakrishnan, Founder & CEO of HST Wealth, the US 10-year Treasury yield remains close to 5%, keeping dollar assets relatively attractive. “The Federal Reserve is widely expected to hold rates unchanged, making its guidance more important than the decision itself. A hawkish signal could lift yields and restrain emerging-market flows, while balanced guidance may allow the overnight improvement in global risk appetite to continue,” he added.

 The market may therefore remain range-bound and headline-sensitive. Holding 22,550 alongside stable crude and bond yields could support a measured recovery, but weak breadth or renewed strength in either variable could leave intraday gains vulnerable, he cautioned.

Easing crude prices, currency stability and stronger earnings visibility will be crucial for a sustained recovery, said Vikram Kasat - Chief Business Officer – Advisory and Dealing at PL Capital.

Published on October 28, 2026