Nifty 50 and Sensex Poised for a Steady Start on October 3 Amid RBI Support

Indian stock markets are set to open cautiously on October 3 following a strong rebound fueled by the Reserve Bank of India’s decision to keep interest rates steady. The broader market sentiment is buoyed by gains in private banks, autos, and IT sectors, signaling optimism despite global uncertainties.

Tomorrow’s Market Outlook

The Nifty 50 closed recently at 24,836.30, up 0.92%, with robust performances from banking giants like HDFC Bank, ICICI Bank, and Kotak Mahindra Bank.

The Sensex surged 715.69 points (0.89%) to close at 80,983.31, fueled by gains in financial services, auto, and media stocks.

Key sectors to watch include private banks, financial services, autos, and pharma, which are showing steady demand.

Technical and Sentiment Indicators

The Nifty remains above critical 100/200-day moving averages, pointing to resilience despite short-term volatility.

Momentum indicators and volume patterns hint at moderate strength with room for further upside.

Global and Domestic Factors

Domestic optimism is supported by RBI’s accommodative stance, while global markets display cautious optimism amid political uncertainties abroad.

Traders are advised to remain cautious near key resistance and support levels as volatility may increase during early trading hours.

Source: Economic Times, Moneycontrol, GoodReturns, 5paisa