India plans to hike FDI cap to 49% for PSU Banks-Daily Market Update 28th Oct 2025

Tracking strong global cues, benchmark Nifty index opened with a gap on the higher side and settled at 25966 spot levels after adding 171 points to its previous closing values.

Broader markets marginally outperformed the benchmark as Mid and Small cap indices gained 0.93% & 0.82% respectively.

Majority of sectoral indices, tracked at NSE, ended in green. Amongst them, PSU bank index was the top gainer, rose 2.22% followed by Oil & Gas, Realty and Metal index that gained in range 1.14% to 1.52%.

Nifty index is showing signs of some sort of consolidation around current levels before continuing its prevailing up trend. Technically, Nifty index is well placed on multiple chart frames till it is trading above 25600 spot levels on closing basis and any dip around 25750-25850 spot levels should be taken as fresh buying opportunity.

Derivatives Overview & Outlook

Yesterday, Banknifty and Midcapnifty futures added around 7% and 6% of open interest respectively as long buildup whereas no significant changes were seen among Nifty and Finnifty futures on open interest front.

All F&O sectors settled on a higher note. Amongst them, Auto, Cement, Infrastructure and Telecom stocks witnessed maximum addition of long positions along with some short covering among Chemical, Finance and Technology stocks.

On option front, call unwinding along with some put addition was seen at multiple strikes. Maximum positions are at 25900 PE followed by 25500 PE. On the call side maximum positions are placed at followed by 26500 CE.

Institutional Trading Activity

Yesterday, FIIs sold stocks worth Rs 56 Cr in the cash segment, sold index futures worth Rs 243 Cr and bought stocks futures worth Rs 4589 Cr. DIIs were net buyers in the cash segment to the tune of Rs 2492 Cr.

Nifty Futures, Banknifty Futures and Finnifty Futures Key Levels

Nifty – Resistances 26100-26220; Supports 25980-25880

Banknifty – Resistances 58500-58800; Supports 58000-57500

Finnifty – Resistances 27620-27700; Supports 27500-27400

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