Dynamo Technical and Research Institute

📰 Market Highlights & Themes

The Nifty 50 underwent its periodic semi-annual rebalancing effective September 30. IndiGo and Max Healthcare were added, while Hero MotoCorp and IndusInd Bank were dropped from the index. The Economic Times+1
Analysts expect over USD 1 billion in passive inflows into select stocks, including IndiGo, Max Healthcare, SBI, Bajaj Finserv, and ITC, as investors adjust portfolios post-rebalancing. The Economic Times
The Indian markets opened mildly in the green, with Nifty50 rising ~0.10 % and Sensex up ~0.11 % early in trade. The Times of India
Broader sentiment remained cautious: global cues were mixed, foreign fund outflows persist, and investors are closely watching decisions from the RBI Monetary Policy Committee (MPC). Reuters+4The Economic Times+4mint+4
The rupee remained under pressure, hovering near record lows against the U.S. dollar, driven by weak Asian currencies and lingering U.S.–India trade tensions. Reuters+1
Foreign Portfolio Investors (FPIs) continued their exit, with ₹7,945 crore withdrawn in September alone. Year-to-date net outflows sum up to ₹1.38 lakh crore. The Times of India

Metals, pharma, and IT stocks showed strength in early trade, helping lead the market upside. The Economic Times+1
Apl Apollo Tubes and Hindustan Zinc were recommended by analysts today, based on bullish technical setups and positive momentum indicators. The Times of India
Companies under focus today include IRFC, Tata Steel, Mahindra & Mahindra, JSW Steel, BEL, among others. Business Standard

The Nifty 50 has been under a seven-day losing streak, extending its downward bias. Moneycontrol+1
Key support levels are seen near 24,600, 24,500, and 24,400, while resistance zones are placed around 24,800–24,900. Moneycontrol+2Moneycontrol+2
With the F&O (derivatives) expiry today, volatility is expected to be elevated. NDTV Profit+2Moneycontrol+2
In derivatives, Nifty September futures are up marginally, and open interest is down ~36.75 %. NDTV Profit

The market is stalled between cautious optimism and domestic headwinds. Foreign outflows and global uncertainty remain dominant overhangs.
RBI’s MPC outcome will be a near-term catalyst. Investors will also keep an eye on global inflation, U.S. monetary policy and trade developments.
Analysts like those from J.P. Morgan believe that supportive policy moves and structural reforms might help Indian equities stage a recovery, despite current weakness. jpmorgan.com