Pre-Market Update: GIFT Nifty Falls 94 Points; Crude at $116, Fed Decision and Jio Platforms Listing in Focus

Pre-Market Update at 7:40 AM: GIFT Nifty indicated a weak opening for domestic equities, trading at 22,655.50, down 94.25 points, or 0.41 per cent, from the previous Nifty 50 close as of 3:29 PM IST on October 27, 2026. The indication follows a largely flat domestic session, while elevated crude oil prices, the U.S. Federal Reserve policy meeting and mixed Asian markets could influence sentiment. The Nifty 50 ended October 27 marginally lower, while the Sensex also closed nearly unchanged.

The U.S. Federal Reserve began its two-day policy meeting on October 27, with markets expecting interest rates to remain unchanged. Investors will closely monitor its policy guidance for signals on global risk appetite, the dollar, bond yields and foreign portfolio flows into emerging markets. The outcome could influence rate-sensitive financial stocks, IT exporters and metals, alongside broader overseas fund-flow trends.

Crude oil prices remained elevated, with Brent crude trading at USD 116 a barrel, up 1.08 per cent, and WTI crude at USD 102.44 a barrel, up 0.82 per cent, as of 7:02 AM IST on October 28. Higher oil prices remain an important consideration for India, a major crude oil importer.

Jio Platforms is scheduled to list on the NSE and BSE on October 28 following its Rs 30,200-crore IPO, which closed on October 23. The listing of the telecom and digital-platform company could draw attention to the primary market, telecom-sector valuations and listed peers.

Hindustan Unilever's board is scheduled to consider its standalone and consolidated Q2FY27 results on October 28, along with a possible interim Dividend. The company's commentary on demand, pricing and input costs will be closely watched for indications about the broader FMCG sector.

Wall Street ended higher in the previous session, supported by technology shares amid renewed optimism around AI-linked companies. The Nasdaq rose 1.18 per cent to 26,477.81, while the S&P 500 gained 0.60 per cent to 7,722.60. The Dow Jones Industrial Average ended almost flat, rising 0.03 per cent to 52,377.57.

Asian markets were mixed in early trade on October 28. Japan's Nikkei gained 1.09 per cent, while Hong Kong's Hang Seng declined 0.73 per cent and the Shanghai Composite fell 1.33 per cent. European markets also ended on a mixed note in the previous session, with Germany's DAX rising 0.71 per cent and France's CAC 40 advancing 0.51 per cent, while the UK's FTSE 100 declined 0.75 per cent.

In commodities, gold traded at USD 4,054.62, down 0.14 per cent, while silver declined 0.17 per cent to USD 54.32. The Dollar Index stood at 102.37, up 0.05 per cent, while the rupee traded around Rs 95.11 per U.S. dollar. The U.S. 10-year Treasury yield stood at 5.01 per cent, up 0.007 percentage points. Movements in bond yields could influence global equity valuations and overseas risk appetite ahead of the Federal Reserve's policy decision.

Foreign institutional investors (FIIs) were net buyers of Indian equities worth Rs 4,240.39 crore in the latest available data, while domestic institutional investors (DIIs) were net sellers worth Rs 1,250.03 crore. The divergence between foreign buying and domestic selling reflects the latest session's flows, although a single session does not establish a sustained trend.

In the previous session on October 27, the Nifty 50 closed at 22,749.75, down 3.45 points, or 0.02 per cent. The index moved between 22,636.85 and 22,829.75 during the session. The BSE Sensex ended at 73,598.67, declining 8.08 points, or 0.01 per cent, after moving between 73,179.41 and 73,762.98. India VIX declined 4.43 per cent to 16.40, indicating easing expectations of near-term market volatility.

Among stocks to watch, Larsen & Toubro reported a 33 per cent year-on-year (YoY) increase in Q2FY27 net profit to Rs 5,202 crore, while revenue rose 16 per cent. The earnings update puts the capital-goods and infrastructure major in focus.

Maruti Suzuki India reported a 26 per cent YoY decline in Q2FY27 net profit to Rs 2,466 crore, despite a 26 per cent increase in revenue. The contrasting revenue and profit performance will be watched across the automobile sector.

Bajaj Auto posted a 35 per cent YoY rise in Q2FY27 net profit to Rs 3,354 crore, while revenue increased 34 per cent. The results provide a fresh earnings trigger for the two-wheeler and export-oriented automobile segment.

Waaree Energies reported a 14.7 per cent YoY decline in Q2FY27 net profit to Rs 718.68 crore, despite a 23.9 per cent increase in revenue to Rs 7,518 crore. EBITDA declined 5 per cent to Rs 1,336 crore, while the EBITDA margin contracted to 18 per cent from 23 per cent. The company also announced the acquisition of 100 per cent of Waaree Green Data Centers and its two subsidiaries for a cash consideration of Rs 1 lakh.

SBI Life Insurance reported an 11 per cent YoY increase in Q2FY27 net profit to Rs 549 crore. Net premium income rose 8.17 per cent to Rs 26,877 crore from Rs 24,848 crore.

Steel Authority of India reported a nearly four-fold YoY increase in Q2FY27 net profit to Rs 1,750 crore, supported by higher revenue. The earnings update could keep the state-run steel producer and the broader metals sector in focus.

Reliance Industries announced that its board will consider raising funds through listed, secured or unsecured, redeemable non-convertible debentures via private placement on October 30. The board will also consider the company's Q2FY27 results at the same meeting.

Disclaimer: The article is for informational purposes only and not investment advice.

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