Ahead of Market: 10 things that will decide stock market action on Wednesday

The Indian stock market saw Sensex and Nifty ending Tuesday’s expiry session on a muted note with marginal losses as oil near $105 per barrel and other headwinds kept optimism in check, even as broader markets rallied.

Sensex fell a little over 8 points to close at 73,599 while Nifty 50 fell over 3 points to end the session below 22,750. Nifty Smallcap 250 index meanwhile surged over 2% while Nifty Midcap 100 index rose over 1%.

Here's how analysts read the market pulse

Indian equities ended flat amid a volatile session, as elevated crude prices and caution ahead of the US Fed policy decision overshadowed supportive global cues, said Vinod Nair, Head of Research, Geojit Investments. He noted that profit booking dragged IT and private banks, while pharma, autos, PSU banks and realty gained, with resilient broader-market participation pointing to selective domestic risk appetite.

Healthy Q2 earnings and robust domestic flows continue to provide a cushion against persistent foreign selling. However, Brent above $115 and a weaker rupee pose risks to inflation, corporate margins and financing conditions, the analyst warned. “Going forward, market direction will hinge on earnings resilience, crude trends, evolving developments in the West Asia crisis and the Fed’s policy signal,” he said.

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US stocks

The S&P 500 and Nasdaq advanced on Tuesday as easing oil prices supported risk appetite ahead of the Federal Reserve's policy decision this week, while investors also assessed a raft of key corporate earnings.

The Fed is widely expected to hold rates steady on Wednesday following an increase last month, though markets are pricing in at least two more hikes by mid-2027 as key inflation indicators remain elevated amid the ongoing US-Iran conflict.

European markets

Brent crude prices reversed earlier gains and were down 1% at $114.74 a barrel while Europe's STOXX 600 index edged up 0.1%.

In Europe, banks were in the spotlight as the continent's largest lender, HSBC, fell 6.7% after missing revenue expectations for the July-September quarter owing to slower growth at its wealth business. Its pretax profit was in line with estimates.

Most active stocks in terms of turnover
HDFC Bank (Rs 2,777 crore), Bharti Airtel (Rs 2,558 crore), Infosys (Rs 2,324 crore), ICICI Bank (Rs 2,244 crore), Ather Energy (Rs 2,161 crore), Ami Organics (Rs 1,765 crore), and

Sona BLW Precision (Rs 1,613 crore) were among the most active stocks on NSE in value terms. Higher activity in a counter in value terms can help identify the counters with the highest trading turnovers in the day.

Most active stocks in volume terms
Vodafone Idea (Traded shares: 36.96 crore), Ola Electric Mobility (Traded shares: 33.20 crore), Yes Bank (Traded shares: 18.23 crore), Suzlon Energy (Traded shares: 12.56 crore), Tata Teleservices (Traded shares: 6.92 crore), JP Power (Traded shares: 4.47 crore) and Bank of Maharashtra (Traded shares: 4.24 crore) were among the most actively traded stocks in volume terms on NSE.

Stocks showing buying interest
Ola Electric Mobility, OneSource Specialty, Ami Organics, Sun TV, Data Patterns, Prime Focus and Sina BLW Precision were among the stocks that witnessed strong buying interest from market participants.

52-week high
Among the ones which hit their 52-week highs on NSE included Ami Organics, Sona BLW Precision, PVR Inox, Laurus Labs, IHCL and International Gemmological Institute.

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Stocks seeing selling pressure
Stocks which witnessed significant selling pressure were Aegis Logistics, M&M Financial, Dalmia Bharat, Mazagon Dock Shipbuilders, Ambuja Cements, Cyient and Sumitomo Chemical.

52-week low
Among the ones which hit their 52-week lows on NSE included M&M Financial, Dalmia Bharat, Mazagon Dock Shipbuilders, Sumitomo Chemical, REC, IRB Infra Developers and Bharat Dynamics.

Sentiment meter favours bulls
Out of the 3,665 stocks that traded on the NSE on October 27, Tuesday, 2,455 stocks witnessed advances, 1,103 stocks saw declines while 107 stocks remained unchanged.

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Disclaimer: This article has been written by Debaroti Adhikary, who is not a SEBI-registered Research Analyst or an Investment Adviser. Debaroti Adhikary and his/her ‘relative(s)’ (as defined under Section 2(77) of the Companies Act, 2013) do not hold any financial interest in the companies mentioned in this article as of the date of publication. The views/recommendations mentioned in this article, wherever applicable, are those of the respective SEBI-registered Research Analyst/brokerage and have been reproduced/reported with due attribution. They should not be construed as the views or recommendations of The Economic Times Digital or the journalist. Readers are advised to consider the original research report and make their investment decisions based on their own assessment. Brokerage disclaimers here.