Indian stock markets are likely to start cautiously today, October 6, 2025, as indicated by GIFT Nifty futures. At 7:59 AM, GIFT Nifty futures were trading 47 points lower at 24959. This points to a potentially muted opening for the Sensex and Nifty.
Global Cues and Market Sentiment
Despite the signal for a potentially soft opening, the underlying sentiment in the market remains positive, bolstered by several factors. These include a dovish stance from the Reserve Bank of India (RBI), strong performance in specific sectors, and decreasing crude oil prices. Furthermore, optimism surrounding the approaching festive demand cycle is also contributing to the positive sentiment.
Asian markets displayed a mixed performance. Japanese markets surged to record highs after Sanae Takaichi, considered pro-stimulus, was elected as the new leader of the ruling Liberal Democratic Party, paving the way for her to become the next Prime Minister. Japan's Nikkei 225 index jumped 4.06%, surpassing the 47,000 level for the first time, while the Topix rose over 3% to hit an all-time high. However, Hong Kong's Hang Seng Index futures indicated a slightly higher open, while Chinese and South Korean markets remained closed for holidays. S&P 500 futures rose 0.2%.
Friday's Market Performance
On Friday, the Sensex and Nifty 50 both experienced gains for the second consecutive session. The Sensex increased by 223.86 points, or 0.28%, to close at 81,207.17. The Nifty 50 also saw an increase of 57.95 points, or 0.23%, settling at 24,894.25. Market breadth was healthy, with more stocks advancing than declining.
Analyst Perspectives
Siddhartha Khemka, Head of Research, Wealth Management at Motilal Oswal Financial Services Ltd., noted that Indian equities closed higher on Friday due to optimism surrounding the RBI's dovish stance and recent regulatory reforms.
Nagaraj Shetti, Senior Technical Research Analyst at HDFC Securities, noted a buy on dips opportunity in the market. He believes the short-term trend of Nifty 50 is positive, with the next upside target around 25,200 levels this week, with immediate support at 24,750.
Puneet Singhania, Director at Master Trust Group, pointed out that the Nifty 50 index successfully reclaimed its 50-day EMA, signaling stabilization and renewed buying interest. He anticipates a strong support zone between 24,500 and 24,600, and a key psychological barrier at 25,000 - 25,050.
Key Levels to Watch
Analysts at Bajaj Broking see the recent rebound continuing into the coming week. As long as Nifty stays above 24,747, the index could move toward the 25,100-25,400 zone. Resistance is expected around 25,400, aligning with trendline resistance. Immediate support lies at Friday's low of 24,747. The key support zone remains in the 24,400 to 24,600 range.
Mayank Jain, Market Analyst at Share.Market (PhonePe Wealth) said that the immediate resistance for Sensex is at 81,500 – 81,700, and support lies at 80,700 – 80,800. For Nifty 50, immediate resistance is at 25,050 - 25,000, and support lies at 24,750 - 24,700.
Factors Influencing the Market
This week, investors will be closely monitoring several key factors that could influence the stock market. These include developments surrounding a potential US government shutdown, the US Federal Open Market Committee (FOMC) meeting minutes, updates on the Israel-Hamas war, the release of Q2 results, IPO activity, trends in foreign fund flows, gold prices, and other significant domestic and global macroeconomic data.
