Indian markets set for flat start on global cues

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Indian equities are likely to open flat today, September 30, mirroring the subdued trend in GIFT Nifty. In the previous session, the benchmarks closed nearly unchanged after a volatile day, with the Sensex slipping 61.52 points to 80,364.94 and the Nifty easing 19.80 points to 24,634.90.

Among sectors, PSU banks outperformed with the index rising 1.89 percent, while the defence index was the top laggard, shedding 1.20 percent. Markets opened firm but faced consistent selling pressure during intraday rallies, pulling the Nifty near the day’s low.

Analysts noted that Nifty is approaching a crucial support zone around 24,500–24,400, aligned with previous swing lows and the 200-day EMA. A sustained move above 24,800–24,900 could, however, signal a near-term reversal.

Asia-Pacific markets traded mixed on Tuesday. China’s official data showed manufacturing activity contracting for the sixth straight month, though at a slower pace than estimated. Investors await the Reserve Bank of Australia’s rate decision later today.

Australia’s S&P/ASX 200 was flat, Japan’s Nikkei 225 slipped 0.1 percent, and Topix traded unchanged. South Korea’s Kospi was flat while the Kosdaq declined 0.34 percent. Hong Kong’s Hang Seng gained 0.45 percent.

In the US, Wall Street opened the week on a volatile but positive note. The Dow Jones recovered from early losses to finish higher. The S&P 500 and Nasdaq, aided by Nvidia, also closed in the green, though below their intraday peaks.

Investor sentiment remains cautious amid concerns of a possible government shutdown. A meeting between Democratic and Republican leaders with US President Donald Trump failed to resolve the deadlock over spending. Without a resolution, the government could shut down from Wednesday, potentially delaying key economic releases such as Friday’s non-farm payrolls.

Meanwhile, the US Commerce Department confirmed that tariff-related investigations will proceed regardless of a shutdown. Separately, Trump announced fresh tariffs on countries not producing furniture in the US and reiterated his earlier threat of a 100 percent tariff on foreign-made movies, though the White House provided no further details.