NEWS UPDATE 29 SEPTEMBER
667.34
๐ Market Snapshot & Themes
India / Domestic Markets
- Indian indices snapped a six-day losing streak. The Sensex jumped over 300 points, and Nifty crossed 24,700, aided by strength in IT, metals, oil & gas, and realty sectors. The Economic Times
- The rally was partially tempered by weakness in FMCG stocks, especially after Hindustan Unilever cut its growth forecast citing disruptions from recent GST reforms. Reuters
- Key sectors like PSU banks, energy, and metals led the upside. The Economic Times
- Also in focus: new IPOs (e.g. WeWork India announced a price band), and defense sector buzz (BEL, BDL got a boost after a Rs 30,000 crore missile systems tender). The Economic Times
- According to analysts, the Nifty 50 may face resistance near 24,900; downside support zones are seen around 24,300โ24,500. mint
Global / External Drivers
- Asian markets were mostly up, following a rebound on Wall Street. AP News
- U.S. stock futures rose ~0.3%, with attention turning to the risk of a U.S. government shutdown. MarketWatch+1
- Crude oil prices declined (~1%) amid speculation that OPEC+ may increase output in November. NDTV Profit+1
- Inflation and jobs data remain focal โ U.S. markets expect modest job additions in September, which could influence Fed rate decisions. S&P Global+1
โ Key Risks & Things to Watch
- U.S. government shutdown: If funding lapses, key economic releases (jobs, CPI) could be delayed, increasing volatility. MarketWatch
- Tariff policy & trade tensions: New U.S. tariffs are fueling global uncertainty. IG+1
- Fed / interest rates: Much depends on upcoming U.S. jobs and inflation numbers. Any dovish surprise could trigger market relief. S&P Global
- Domestic policy & tax reforms: Changes in GST, stimulus, or regulatory moves can create near-term shocks in India.
