Indian Stock Market May Open Lower as Jio Platforms Listing and Corporate Earnings in Focus
The Indian stock market is likely to open under pressure on Wednesday, October 28, 2026, after the Sensex and Nifty closed marginally lower on Tuesday. GIFT Nifty indicated a weak start in early trading. Investors will track the listing of Jio Platforms, quarterly earnings from major companies and developments in international markets for cues on the day's trading direction.
Market participants are closely watching the 20-day Exponential Moving Average (20-DEMA), which stands at around 22,825 and is considered a key resistance level for the Nifty. A sustained move above this level could take the index towards 23,100–23,300. However, failure to cross the level could weaken the recent recovery.
On Tuesday, the Nifty closed at 22,749.75, while the Sensex settled at 73,598.67. Investors remain cautious amid elevated crude oil prices and ahead of the US Federal Reserve's decision.
Jio Platforms, Reliance Industries' digital and telecommunications business, is set to list on the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE) on Wednesday.
The company's initial public offering (IPO) was valued at approximately ₹30,213 crore, with the issue price fixed at ₹1,119 per share. The IPO received a favourable response from investors. The listing price and the stock's initial trading performance will be closely watched. The listing could also influence Reliance Industries shares.
Larsen & Toubro (L&T) reported a 33% increase in quarterly profit to ₹5,202 crore. Revenue rose 16% to ₹78,750 crore.
Maruti Suzuki reported mixed results for the quarter. Revenue increased 26% to ₹53,355.5 crore, while profit declined 26.4% to ₹2,466.1 crore.
SBI Life Insurance reported an 11% increase in profit to ₹549.2 crore, while net premium income reached ₹26,877.7 crore.
Indus Towers reported a 2.5% decline in profit to ₹1,792.8 crore, while revenue increased 4%.
JSW Cement's revenue rose 33.1% to ₹1,912.2 crore, while profit edged down to ₹85.35 crore.
Tata Capital reported a 51.3% increase in profit to ₹1,659.9 crore. State-owned Steel Authority of India Limited (SAIL) reported a 318.1% increase in profit to ₹1,750.5 crore, with revenue at ₹31,997.6 crore.
Several major companies are scheduled to announce their September-quarter results on Wednesday, including Hero MotoCorp, Hindustan Unilever, Adani Enterprises, Adani Ports, Hyundai Motor India, TVS Motor, Vedanta, Bandhan Bank and Pidilite Industries.
Other companies scheduled to report results include ACME Solar, Bajaj Electricals, Birlasoft, CarTrade Tech, Cholamandalam Investment, City Union Bank, GMR Airports, Hexaware Technologies, JSW Energy and KPIT Technologies.
Karnataka Bank, Info Edge, IIFL Capital Services, PNB Housing Finance, PVR INOX, RR Kabel, Sundram Fasteners, United Spirits, Vedanta Aluminium Metal and Zensar Technologies are also on the list of companies scheduled to announce results on Wednesday.
Tata Motors' offer to acquire Italian vehicle manufacturer Iveco Group has crossed the key 80% threshold. According to preliminary figures, Tata Motors' stake could reach 89.42%, excluding treasury shares.
Exide Industries has invested ₹150 crore in its subsidiary, Exide Energy Solutions, through a rights issue. The funds will be used to meet the requirements of the subsidiary's lithium-ion battery manufacturing plant in Bengaluru.
Lemon Tree Hotels has signed a licence agreement for a 76-room hotel in Sirhind, Punjab. The property will be operated by the company's subsidiary, Carnation Hotels.
A fire was reported at Gulf Oil Lubricants India's warehouse in Umbergaon, Gujarat. According to the company, no injuries have been reported, and the extent of the damage is being assessed.
Mishra Dhatu Nigam has signed an agreement with the Heavy Water Board and the Bhabha Atomic Research Centre. The collaboration will focus on extracting nickel and cobalt from residual materials generated at the plant.
