On October 31, 2025, the Indian stock market is likely to begin on a bullish note, following cues from its Asian counterparts and early signals from Gift Nifty futures. The Gift Nifty was trading around 26,058, indicating an uptick of 26 points over the previous Nifty futures close, and suggesting a slight bullish start for domestic indices after Thursday’s losses.

Market Recap

Indian equities faced a selloff in the last session as profit-taking and mixed global cues affected sentiment. The Sensex plunged 592.67 points (0.70%) to 84,404.46, while the Nifty 50 dropped 176.05 points (0.68%) to close at 25,877.85.

Market participants cited volatility from the monthly derivatives expiry and muted global sentiment following the US Federal Reserve’s 25-basis-point rate cut as the main reason for the decline. 

Sensex Outlook

On the daily charts, Sensex has formed a bearish candle with a double-top pattern, signaling weakness in the near term. 

Analysts observe that the sentiment may remain soft as long as the Sensex trades below 84,500, with potential downside targets of 84,200 and 84,000. 

A breakout above 84,500 could pave the way to the 84,800-85,000 zone, indicating renewed strength at higher levels.

Nifty 50 View

The Nifty 50 has been moving within a 25,700-26,100 range, with recent candles showing high intraday volatility and selling pressure near resistance zones.

According to HDFC Securities’ Nagaraj Shetti, the index is undergoing short-term profit booking, but the overall trend remains positive. 

Support is expected near the 25,800-25,700 levels, and a rebound from these levels could see the index testing 26,030-26,050, followed by 26,200-26,350 if momentum sustains.

Bank Nifty View

The Bank Nifty closed 354 points lower at 58,031.10, forming a red candle with an upper shadow, a sign of selling at higher zones. Key support lies near 57,630, while resistance is seen around 58,580. 

Analysts suggest consolidation between these levels; a breakout above 58,580 will push the index toward 59,000-59,300. Conversely, a failure to hold 57,630 may extend weakness toward 57,300-56,800.

Also Read: US Stock Market Today: NASDAQ Drops 1% & S&P 500 Slips 0.5%, as Tech Stocks and Fed Comments Weigh on Investor Sentiment

Sectoral Snapshot

On Thursday, healthcare, financials, and pharma sectors led the decline, while realty (+0.13%) and energy (+0.04%) were the only gainers. 

IT and FMCG stocks witnessed minor declines. Analysts expect selective buying in defensive and energy counters as traders look for short-term stability ahead of global policy updates.