Pre-Market, 29 October 2026: Cautious Sentiment Likely To Prevail As Benchmarks Look To Recover Losses

Markets may see cautious trading today after benchmark indices ended Wednesday in the red despite recovering from their intraday lows. Buying in auto and select banking stocks helped the Sensex and Nifty 50 cut some losses.

However, continued weakness in information technology (IT) and oil and gas shares kept benchmarks under pressure. Yesterday, the BSE Sensex fell nearly 353 points to close at 73,246.03. The Nifty 50 settled close to 51 points lower at 22,698.85.

Global Indices And GIFT Nifty

Global indices, including those of US and European markets, closed in the positive in their last trading session (see table):

At 6:46 am today, the GIFT Nifty was up 0.11%, pointing to a mildly positive start for benchmark indices.

Sectors Likely To Be On Investors’ Radar

Markets can be on edge with the frontline indices eyeing a recovery in today’s trade. While they need sustained buying to recover, the following sectors may draw investors’ attention:

• Auto: The Nifty Auto index rose 1.45% on Wednesday, making auto stocks one of the key sectors to watch. However, a sustained move higher will depend on whether buying spreads across more stocks in the sector.

• Banking: The Nifty Bank gained 0.54%. A stronger performance from banking stocks may support the Sensex and Nifty 50. However, the market will need wider participation to build a firmer recovery.

• IT: IT shares faced selling pressure on Wednesday. The Nifty IT index fell 1.98%. The sector could remain under pressure if investors continue to cut exposure.

Traders Likely To Be Selective

Traders are likely to remain selective in today's session, with the market looking for fresh direction from global cues. With the Fed keeping key rates unchanged, developments in the Middle East and crude prices are likely to play a crucial role in setting the mood.

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