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Market Outlook: Indian markets are likely to open on a positive note, with Gift Nifty gaining 33 points (+0.15%) following a firm global setup. US markets ended higher, with the S&P 500 up 0.28%, Dow Jones 0.19% and Nasdaq 100 0.55%, while Asian markets also remained positive. Nifty closed 0.22% lower at 22,698.85 on 28 October, with immediate support at 22,537 and resistance at 22,818. The key near-term risk remains elevated crude, with Brent above $115/bbl, while the Fed's unchanged policy rate keeps focus on its forward guidance.
 

FII & DII Activity: Foreign investors turned net buyers on 28 October with inflows of Rs 871.8 crore, while DIIs also remained buyers with net inflows of Rs 643.4 crore. The return of FII buying is significant after sustained foreign selling through October and could provide near-term support to the market if the trend continues. However, the broader foreign-flow position remains cautious, particularly with the rupee under pressure from elevated crude prices and the dollar.
 

Sector Activity: Sector performance was mixed on 28 October, with Auto and Consumer Durables leading the gainers while IT and Oil & Gas remained under pressure. Nifty Auto gained 1.45%, led by Bosch (+4.44%) and TVS Motor (+3.74%), while Consumer Durables rose 1.41%, supported by PGEL (+7.16%) and Voltas (+6.94%). Pharma and Healthcare also gained 1.04% and 1.15%, respectively. On the weaker side, Oil & Gas declined 2.27%, led by Petronet LNG and Chennai Petroleum, while IT fell 1.98%, dragged by Mphasis and Infosys.
 

Long, Short, Long Unwinding & Short Covering: Fresh long positions were built in PG Electroplast, KPIT Technologies, Voltas, UPL and Biocon, indicating positive price and open-interest action. Fresh short build-up was seen in Kaynes Technology, United Spirits, Reliance Industries, Pidilite Industries and Godrej Consumer, where prices declined alongside higher open interest. Long unwinding was observed in Radico Khaitan, SAIL, Naukri, Ather Energy and APL Apollo, reflecting reduction in existing long positions. Short covering was visible in Patanjali Foods, Cholamandalam Investment, Blue Star, Apollo Hospitals and Fortis Healthcare, where prices gained while open interest declined.

Top 5 News:
TVS Motor: TVS Motor approved the demerger of its consumer-finance business into Harita ARC, which is proposed to be separately listed. Shareholders will receive one Harita ARC share for every TVS Motor share held. The separated business generated Rs 3,921 crore turnover in H1 FY27, while TVS Motor Services will be merged into TVS Motor.
Adani Ports: Q2 FY27 revenue increased 24% YoY to Rs 11,340 crore, while PAT rose 18% to Rs 3,682 crore and EBITDA grew 23% to Rs 6,807 crore. The company raised FY27 revenue guidance to Rs 44,000–46,000 crore and EBITDA guidance to Rs 26,000–27,000 crore, while increasing capex guidance by Rs 3,000 crore to Rs 15,000–17,000 crore.
Vedanta: Q2 FY27 revenue rose 57% YoY to Rs 25,812 crore, while PAT increased to Rs 6,202 crore and EBITDA surged 106% to Rs 9,938 crore. Net debt declined by Rs 4,624 crore to Rs 3,675 crore, bringing net debt/EBITDA down to just 0.1x. The board also declared an interim dividend of Rs 5 per share.
Adani Enterprises: Q2 FY27 revenue from operations increased 75% YoY to Rs 37,216 crore and EBITDA rose 62% to Rs 6,316 crore. PAT declined 55% to Rs 1,492 crore due to a high base that included a Rs 3,583 crore exceptional gain. Solar-module capacity reached 10 GW, while AdaniConnex secured a 240 MW hyperscale order in Navi Mumbai.
Info Edge: Hitesh Oberoi will step down as MD & CEO on 2 December 2026 after nearly 27 years with the company and will transition to a non-executive, non-independent director. Founder Sanjeev Bikhchandani will assume the roles of Executive Vice Chairman, MD and Group CEO from 3 December, subject to shareholder approval.
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