GIFT Nifty traded 153.5 points, or 0.67%, lower at 22,658.5 ahead of India’s market open on Wednesday, October 28, 2026, pointing to a potentially weak start for domestic equities.

Key Takeaways

  • Foreign portfolio investors bought a net Rs 4,240 crore of Indian shares on Tuesday, while domestic institutional investors were net sellers.
  • Asian shares rose ahead of major technology earnings and the Federal Reserve’s interest-rate decision.

GIFT Nifty and levels to watch

The decline in GIFT Nifty was a premarket signal, not a guarantee of how Indian stocks would trade after opening. The source did not specify an observation time for the futures quote.

Analysts identified 22,600 as immediate support and 22,800 as a key hurdle. They said a sustained move above 22,800 could open the way for a test of 23,000. A separate technical view placed the 20-day double exponential moving average around 22,825 and suggested a decisive move above it could strengthen recovery prospects toward 23,100–23,300.

Fund flows and global markets

Domestic institutional investors sold a net Rs 1,250 crore of shares on Tuesday. India VIX, a measure of market volatility, fell 4.4% to settle at 16.40.

Asian stocks climbed for a second day, while US stocks closed higher on Tuesday. Investors were awaiting the Federal Reserve’s policy decision, with the central bank widely expected to leave interest rates unchanged.

The rupee closed at 95.12 per US dollar on Tuesday, up 3 paise.

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