Nifty 50 slid 2.36% to 20,115, as the BSE Sensex fell 2.15% to 50,825. The dip echoes a cautious mood ahead of the Fed’s policy meeting and Jio Platforms’ IPO.
Analysts at Bloomberg expect the Fed to hold the federal funds rate at 5.25%, with the 10‑year Treasury yield hovering at 4.22%. "The guidance will dictate the trajectory of the dollar," said Sudeep Bhargava of Goldman Sachs. A steeper yield curve could tighten global risk appetite.
Crude oil prices nudged up to $90.40 a barrel, driven by heightened Middle East tensions. The spike raises the energy import bill for India, tightening inflationary headwinds and squeezing corporate margins.
Industrial production data for September, slated for release on Oct 28, is forecast to rise 0.4% month‑on‑month, according to the Ministry of Statistics. The figure will test whether India’s growth narrative withstands external shocks.
Next week will see a flurry of earnings from TVS Motor, Asian Paints, Trent, Sun Pharma, Bharat Electronics, Indian Oil, Bank of Baroda and GAIL India. Their results will further shape sentiment after the Fed’s guidance.
Looking ahead, investors will weigh the Fed’s policy stance, crude price trends, and domestic output data. The market anticipates a cautious stance from the Fed, possible uptick in oil prices, and a steady earnings cycle for the listed corporates.