Stock Market Highlights, Sensex Today: Sensex Closes 480 Points Higher Amid Mixed Global Cues

Vikas Gupta, Country Manager - India, Bybit

Bitcoin's recent pullback, with prices hovering around $80,000, reflects a broader shift towards risk aversion, with concerns around AI sector valuations and rising oil prices weighing on global risk assets. The move also highlights how closely crypto markets remain linked to macroeconomic sentiment, with leveraged liquidations potentially amplifying short-term volatility.

However, the correction should be viewed in context rather than as a decisive shift in Bitcoin's long-term outlook. Recent inflows into US spot Bitcoin ETFs indicate that institutional demand has not disappeared, even as prices remain under pressure. The key indicators to watch are sustained ETF flows, global liquidity expectations, and Bitcoin's ability to hold the $79,000-$80,000 support zone. A sustained recovery in risk appetite could help restore momentum, while a break below this support zone may trigger further downside.

In the near term, volatility is likely to remain elevated, making disciplined risk management and confirmation of market direction more important than reacting to daily price movements.

Gaurav Garg, Head - Research, Lemonn

Gold and silver are showing a modest rebound after last week's heavy sell-off, but the recovery remains fragile. Gold is hovering around the $4,000 level after its steepest weekly decline since June, while silver continues to face pressure following a sharp drop in industrial and investment sentiment. Traders are also positioning ahead of the Federal Reserve's policy decision this week, with attention on whether persistent energy-driven inflation will delay monetary easing.WTI crude has eased from recent highs as traders reassess the risk premium following last week's rally, although continued attacks on Saudi energy infrastructure are keeping supply security in focus. The rupee faces renewed pressure from oil-related dollar demand and weakening foreign investment support, with the temporary boost from Jio Platforms IPO-related inflows potentially fading after share allotment.

Vikas Gupta, Country Manager - India, Bybit

Bitcoin's recent pullback reflects a broader shift towards risk aversion, with concerns around AI sector valuations and rising oil prices weighing on global risk assets. The move also highlights how closely crypto markets remain linked to macroeconomic sentiment, with leveraged liquidations potentially amplifying short term volatility.

However, the correction should be viewed in context rather than as a decisive shift in Bitcoin's long-term outlook. Recent inflows into US spot Bitcoin ETFs indicate that institutional demand has not disappeared, even as prices remain under pressure. The key indicators to watch are sustained ETF flows, global liquidity expectations, and Bitcoin's ability to hold the $80,000 - $81,500 support zone. A sustained recovery in risk appetite could help restore momentum, while a break below support may trigger further downside.

In the near term, volatility is likely to remain elevated, making disciplined risk management and confirmation of market direction more important than reacting to daily price movements.

Purvang Mashru, Lead Analyst, BitDelta India

Bitcoin fell 1.0% to about $79,887 and Ethereum lost 1.4% to $2,322. Nine of top ten cryptos by marketcap declined, producing an equal-weight loss of 1.04%. Cardano led the retreat at 2.59%, while TRX was the only gainer.

The key change is Bitcoin's inability  to sustain $80,000 after the weekend rebound. It ended near the bottom of its daily range. Only two major assets remained above their daily midpoints, down from nine a day earlier, showing that the recovery weakened across the market.

Farside's last fully reported US fund session remains 22 October, with $746.2 million leaving Bitcoin and Ether ETFs.

In the macro calendar, the Fed decision for interest rates is due on 28 October, followed by US GDP and personal income and outlays, including PCE inflation, on 29 October. These are the next scheduled policy and economic updates.

Bitcoin's reference support levels are near $79,745 and $79,145, while resistance is around $80,000 to $80,925. Continued weakness below the $80,000 would keep the recovery unconfirmed.

Vikram Subburaj, CEO, Giottus.com

Gold and silver futures are under pressure in India on Monday, with silver recording a sharper decline. Rising inflation concerns and expectations that US interest rates could remain elevated are weighing on precious metals. Investors are also reassessing risk ahead of the Federal Reserve's October 27-28 policy meeting.

On the MCX, December gold futures were quoted at Rs1,42,160 per 10 grams in an early-morning feed, down 0.80% from the previous close of Rs1,43,309. The reported trading range was Rs 1,41,334-Rs 1,43,125. December silver futures were quoted at Rs 1,96,100 per kg, down 1.91% from the previous close of Rs 1,99,917. Its reported range was Rs 1,92,149-Rs 1,98,320.

These are pre-opening reference quotes from different data feeds, captured at different times. They should not be treated as confirmed prices at the MCX daytime opening, which begins at 9 a.m. IST.

The international backdrop remains challenging. Rising energy prices are adding to inflation concerns and supporting expectations that US rates may stay higher for longer. Higher yields and a stronger dollar can make non-yielding assets such as gold less attractive. Silver is also facing pressure, with its larger decline reflecting weaker near-term momentum.

For domestic investors, Rs 1,41,300 is an important downside reference for gold. A recovery above Rs 1,43,100 would suggest some stabilisation. Silver needs to hold near Rs 1,92,000, while a move above Rs 1,98,300 could ease immediate selling pressure. The sell-off warrants caution, but one weak session does not establish a long-term trend. Investors should track fresh MCX prices, the dollar and US yields, and avoid chasing sharp intraday moves.

Avinash Shekhar, Co-Founder & CEO, Pi42

"Bitcoin's pullback towards $80,000 reflects a market navigating macroeconomic uncertainty rather than a shift in crypto's underlying relevance. With the US Federal Reserve's October 28 policy decision approaching, investors are reassessing how interest rates and geopolitical developments could influence liquidity across financial markets. The latest correction has also reduced excess leverage, with approximately $120 million in crypto positions liquidated over 24 hours, including $82 million in long positions. While this has added near-term selling pressure, a reduction in leveraged positioning can help create healthier conditions for the next recovery.

The Fed's decision will be particularly important because interest rates influence the cost of capital and the attractiveness of holding different assets. If the central bank maintains rates as markets currently expect, attention will shift to its forward guidance and any signals on the timing of future easing. Geopolitical uncertainty, particularly tensions involving the US and Iran, remains another factor that could influence sentiment in the near term.

For investors, the focus should be on whether Bitcoin can stabilise around current levels and regain upward momentum as macroeconomic uncertainty clears. A constructive policy outlook, combined with renewed buying demand, could help the market recover. The coming week may therefore be less about predicting the Fed's decision and more about understanding how markets respond to its implications for liquidity and capital flows." 

The Thesis
With Brent near a six-month high and the rupee under the RBI's heaviest defense since the taper tantrum, conviction clusters in domestic infrastructure capex and rupee-beneficiary IT exporters, balanced by defensive consumption and insurance names outside the crude-import squeeze.

Where We're Concentrated
The common thread is insulation from the oil-driven currency pinch. Telecom and data-center infrastructure (HFCL, Black Box) ride domestic capex untouched by crude costs, while Tech Mahindra's dollar billings gain as the rupee weakens under RBI's defense. Allied Blenders and Max Financial add steady consumption and insurance float economics outside the import bill. The thesis breaks if rupee weakness forces sharper RBI tightening that hits rate-sensitive financials, or crude past $116 lifts logistics costs for consumption names.

Conviction Picks
Highest Conviction
HFCL Ltd.
Domestic telecom-infra capex is the hedge markets lean on as Brent near $116 tightens India's import math.
Allied Blenders and Distillers
Spirits demand holds firm even as crude-linked input costs squeeze imported-good consumer names elsewhere.
Black Box Ltd.
Data-center and networking buildout rides the same domestic-capex insulation away from crude-import exposure.
Max Financial Services
Insurance float economics stay resilient while RBI's aggressive rupee defense keeps rate-sensitive financials in favor.
Tech Mahindra Ltd.
A rupee under RBI's heaviest defense in years is a direct billing tailwind for dollar-earning IT exporters.
One Thing to Watch
Fed rate decision Oct 27-28 A hawkish hold adds strain to a rupee RBI is already defending with dollar sales and a heavy crude import bill; a dovish tilt eases pressure on both fronts.

Riya Sehgal, Research Analyst, Delta Exchange 

Crypto markets remain under pressure as Bitcoin trades near the $80,000 mark and Ethereum tests the $2,300 region, with macro and geopolitical risks continuing to dominate sentiment. Brent crude settled at $116.72 per barrel on Friday, its highest level since late April, as Houthi attacks in Saudi Arabia intensified concerns around regional energy supply and added a geopolitical risk premium to oil prices. Crude has since eased from Friday's highs, with Brent near $115 per barrel and U.S. crude around $102, but prices remain elevated. Persistently high energy costs could keep inflation concerns alive and complicate the outlook for monetary policy, creating an unfavourable backdrop for high-beta assets such as crypto.

Technically, Bitcoin remains bearish on the four-hour timeframe, trading below its major moving averages and maintaining a lower-high, lower-low structure. The $78,000-$80,000 region is now the key demand zone. A sustained break below $79,000 could expose the $78,000 area, while a recovery above $81,500-$82,000 would be the first meaningful sign of stabilization. Ethereum remains relatively weaker, with $2,290-$2,300 acting as immediate support and $2,360-$2,400 remaining the key recovery zone. Until these resistance levels are reclaimed, the near-term bias remains cautious.

Daily Quote from Mudrex
Bitcoin dropped to $79,000 over the weekend, its lowest since September 18, as Brent crude surged to an eight-month high of $116 and the 10-year US Treasury yield reached 5%, weighing on risk appetite. Despite late-week selling, US spot Bitcoin ETFs recorded net inflows of over $300 million for the week. Exchanges still show a net outflow of about 1,500 Bitcoin per day on a 30-day average, suggesting limited selling pressure. Bitcoin must hold support at $79,000 to avoid further decline, with resistance near $82,000. Bitcoin must defend $79,000 support, with resistance at $82,000. Markets await the Fed decision on Wednesday, inflation data on Thursday, and $11 billion in Bitcoin options expiry on Friday said Prateek Gupta, Head of Business, Mudrex.

Daily Quote from CoinSwitch
BTC steadied near $80,400 after a weekend selloff pushed prices to a monthly low of $79,146. Markets are focused on the US Federal Reserve's October 27-28 meeting for signals on interest rates, which could influence risk appetite and the dollar. Elevated oil prices and persistent inflation concerns continue to shape the macroeconomic outlook. BTC remains below its 50-day moving average near $81,700, with support around $78K said CoinSwitch Markets Desk

Akshat Siddhant, Lead quant analyst, Mudrex

Gold fell below $4,000/oz to a more than three-month low as rising oil prices fuel inflation concerns and reinforce expectations that the Fed will maintain restrictive monetary policy, with a December rate hike still on the table. Silver also weakened, hovering near 11-month lows. Oil prices eased, with WTI trading around $102/barrel after recent highs, as markets assessed the risk of renewed US strikes on Iran alongside continued Houthi attacks on Saudi Arabia. Meanwhile, the rupee slipped toward Rs 95/$, pressured by elevated crude prices and stronger dollar demand from importers.

Vikram Subburaj, CEO, Giottus.com

Bitcoin is trading near $80,200 after retreating from last week's recovery. Selling pressure and uncertainty ahead of the US Federal Reserve's October 27-28 meeting are weighing on sentiment. A Reuters poll found that 94 of 100 economists expected the Fed to hold rates at 3.75%-4.00% in October, while all respondents expected a rate increase in December. Bitcoin faces immediate resistance around 81,400-81,700, while support lies near 80,100-80,200.

Institutional demand remains volatile. US spot Bitcoin ETFs recorded $526.7 million in inflows on October 19 and $524.8 million on October 21. However, they saw $635.6 million in net outflows on October 22. This reversal suggests that investors remain cautious despite intermittent buying.

Large-cap altcoins are showing mixed performance. Ethereum is trading around $2,327, BNB near $741, XRP around $1.30 and Solana near $101. TRON is around $0.33. These are indicative daily rate-history readings, and not synchronised live quotes.

Our advice: Investors should avoid trying to catch a falling market. Consider staggered entries, maintain measured position sizes and monitor Bitcoin's $80,000 support, ETF flows and Fed signals before increasing exposure.

Harish Vatnani, Head of Trade, ZebPay

The BTC/USDT pair on the daily timeframe is showing signs of short-term bearish momentum following a strong bullish rally from the $62,000-$67,000 accumulation zone toward the $87,000 resistance area. 

After breaking above the previous consolidation range, Bitcoin experienced a sharp upward move supported by increased trading volume, indicating strong buying interest. However, price faced rejection near $87,000 and subsequently entered a consolidation phase between approximately $80,500 and $84,000. 

The recent candles show a breakdown below the lower boundary of this range, with BTC currently trading around $79,585, suggesting that sellers have gained short-term control. 

The loss of the $80,500-$81,000 support zone is a bearish development, particularly as price is now trading below the previously marked support around $82,200-$82,500, which may act as resistance during any recovery attempt. 

On the downside, the immediate support area lies around $78,500-$79,000, followed by the psychological $77,000 level and the stronger demand zone around $76,000-$76,500. If selling pressure continues and BTC fails to reclaim the broken range, the price could potentially move toward these lower support levels. 

On the upside, BTC needs to recover and sustain above $80,500-$81,000 to indicate that the breakdown may be losing momentum, while a stronger bullish recovery would require reclaiming $82,200-$82,500 and then the $84,000 resistance zone. The major overhead resistance remains near $87,000, where the previous rally faced rejection. 

Overall, the daily chart currently presents a bearish short-term outlook, with a potential continuation of the correction unless buyers successfully reclaim the broken support levels. However, a confirmed daily close below the current support area would strengthen the bearish case, while a strong bullish reversal accompanied by increased buying volume could invalidate the immediate bearish structure."

Hemang Gor, Senior Research Analyst -- Derivatives and Technical Research, Axis Direct

Indian equities face a flat, defensive Monday open as geopolitical shocks weigh heavily on sentiment. GIFT Nifty futures point to a subdued start, tracking Friday's fourth consecutive loss where the Nifty 50 Index (NIFTY) fell 0.39% to 22,600.

Broader markets bled severely as Houthi attacks on Saudi infrastructure drove Brent crude to a six-month high. The NSE Midcap 100 plunged 2.21% and the Smallcap 100 dropped 2.94% on leveraged unwinding. Metals (-2.71%) led the sectoral rout, while IT showed relative resilience.

The oil shock reverberated globally. Wall Street slumped Friday: the Dow sank 1.12%, the S&P 500 shed 0.52%, and the Nasdaq slipped 0.21%. Asia tracked lower Monday, with the Nikkei 225  down -0.70% and KOSPI -1.35%.

Technically, the NIFTY has breached its 200-week and 20-day moving averages. The undertone remains subdued below the 22,700-22,800 resistance zone. Immediate support is 22,500; a break exposes 22,200. Bias remains neutral to cautiously negative.

Nischal Shetty, Founder, WazirX

"Crypto markets remained steady despite rising energy prices and cautious global trading. Brent remained near a five-month high, while Japanese bond yields increased ahead of the Bank of Japan meeting. These conditions may keep inflation elevated, increase pressure on the rupee and restrict capital entering Bitcoin and altcoins. However, expectations that the Federal Reserve will hold rates this week provide some support for global liquidity.

Bitcoin traded near $79,567 in a short-term pullback, remaining below key moving averages despite neutral RSI. The $79,000- $79,500 range provides immediate support, followed by $77,500- $77,700. 

A recovery above $80,700- $81,200 could improve momentum, while a loss of support would weaken the current structure. Futures traders may look for stronger volume and open interest, alongside balanced funding, before treating any recovery as broadly supported.

Ethereum held near $2,310 after testing the psychological $2,300 level. Immediate support remains at $2,280- $2,300, with a broader base around $2,150- $2,160. Resistance sits between $2,315 and $2,325, followed by $2,360. Sustained participation above these levels would strengthen the setup, although a resistance test alone would not confirm a breakout.

The cautious crypto session reflected wider market conditions. Shanghai declined 0.53%, Singapore lost 0.41% and KOSPI fell 0.34%, while the Dow and S&P 500 ended Friday lower. Gold dropped 1.30%, but oil gained 3.77%, renewing inflation concerns. Improving US futures offered some relief, indicating that investors had not moved entirely away from growth-oriented assets.

Institutional activity was mixed. US spot Bitcoin ETFs recorded $137.9 million in daily net outflows, while Ethereum ETFs attracted $4.4 million. Bitcoin and Ethereum nevertheless remained above their immediate support regions, suggesting spot demand and derivatives positioning absorbed part of the institutional selling. Central-bank decisions, energy prices and participation around resistance levels may now shape the next phase of market momentum."