The Union cabinet on Tuesday approved the Terms of Reference (ToR) of 8th Pay Commission, which will revise the salaries of nearly 50 lakh central government employees. Former Supreme Court judge Ranjana Prakash Desai will be heading the Commission as the chairperson.
Cabinet approves Terms of Reference of 8th Pay Commission-Daily Market Update 29th Oct 2025
Overview and Outlook
Global Stock Market Today
- US equity markets settled higher in range 0.2% to 0.80%.
- European equity markets, barring FTSE, ended in red.
- Majority of Asian equity markets are trading with a positive bias.
- GIFT Nifty is up by 80 points, Nifty futures likely to open around 26150 levels.
Benchmark Nifty index ended on a flat note at 25936 spot levels after a volatile trading session.
Broader markets traded in line with the benchmark as Mid and Small cap indices too ended on a flat note.
Performance on the sectoral front was mix. Amongst them, Nifty Metal and PSU Bank index led the bulls march, gained over 1% each. On the other hand, Realty index was at the bottom of the tally, down over 1% followed by IT, FMCG and Consumer Durables that were down over half-a-percent each.
Technically, Nifty index has entered a short term congestion phase with immediate supports placed around 25600-25700 spot zone and resistances around 26100 spot levels. Overall chart structure is positive, cross and sustenance above 26100 spot levels will instigate the bullish momentum. Any dips up to the 25700 spot levels should be utilized as fresh buying opportunity.
Derivatives Overview & Outlook
Yesterday, no significant activity was seen among Banknifty and Midcapnifty futures on price front, while Nifty and Finnifty futures shed around 21.5% of open interest each as long unwinding on schedule monthly expiry.
Nifty futures rolled 76% of open interest into next contracts which is lower than previous month rollovers of 83% while Banknifty futures rolled 80% of open interest into next contracts which is slightly higher than the previous month rollovers of 78%.
On option front, Nifty will start the first weekly contracts of the November series with a maximum position at 27000 CE On the put side the maximum positions are placed at 25500 PE followed by 25000 PE.
Institutional Trading Activity
Yesterday, FIIs bought stocks worth Rs 10340 Cr in the cash segment, sold index futures worth Rs 3368 Cr and bought stocks futures worth Rs 1251 Cr. DIIs were too net buyers in the cash segment to the tune of Rs 1082 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 27350-27220
F&O Security in Ban Today: SAMMAANCAP.
Important Results Today: APLAPOLLO, MGL, BHEL, COALINDIA, HINDPETRO, LICHSGFIN, LT, SAIL, UBL.
Disclosure
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