What was the FII activity in the last session?

Foreign Institutional Investors (FIIs) were net sellers on October 6, offloading Indian equities worth ₹2,961 crore.

Indian Market Pre-Open Report: Key Things To Watch Today | 7 October 2026

Indian equity benchmarks are poised for a negative start on Wednesday, as indicated by trends on the GIFT Nifty. The domestic market's trajectory today will be dictated by the Reserve Bank of India's Monetary Policy Committee (MPC) decision, scheduled for 10:00 AM IST. While a rate hike is not the consensus expectation, Governor Sanjay Malhotra's commentary on inflation, growth, and future liquidity management will be critical for market direction.

Market Setup

Dalal Street is set for a subdued opening after a two-day rally, with early signals from GIFT Nifty pointing towards a gap-down. The primary focus for traders is the RBI policy announcement. The governor's guidance on inflation will be more important than the rate decision itself, especially in the context of volatile global conditions. Yesterday's session saw banks and Reliance Industries leading a 1% market rally, but sustaining momentum will depend entirely on the central bank's tone. Nifty found a hurdle near the 22,930 mark in its recent pullback rally, and crossing this level will require a strong positive trigger.

Stocks In Focus Today

Titan Company: The stock will be in the spotlight after its Q2 business update revealed a 22% year-on-year growth in topline revenue. The jewellery division grew by 21%, while the overall consumer business segment expanded by 25% YoY, indicating strong festive season demand.
Trent: Following its strong Q2 business update, the stock surged 13% to a two-year high in the previous session. Continued investor interest is expected today as the market digests the full impact of its performance.
Reliance Industries & Bharti Airtel: A Motilal Oswal report has suggested that a potential future IPO of Jio Platforms could serve as a significant re-rating trigger for both stocks. This long-term perspective may influence institutional positioning.
Tech Mahindra: The company announced an expansion of its Agentic AI readiness with Google Cloud's Gemini Enterprise. This development could keep the IT stock on traders' radars.
Sun Pharmaceutical Industries: The company has established an Endowed Professorship at Mount Sinai in the US to advance dermatologic care, a move that reinforces its commitment to research and development.
Asian Paints: The paint major has informed exchanges that its board will meet on October 29 to consider an interim dividend for the financial year. The announcement provides a date for investors to watch.
Banking Sector: All banking and financial stocks will be watched closely for volatility in reaction to the RBI's policy decision and commentary on liquidity, CRR, and SLR.

FII and DII Activity

Foreign Institutional Investors (FIIs) were net sellers in the cash market on October 6. FII selling, however, moderated as they offloaded shares worth ₹2,961 crore, according to provisional data.

Corporate Actions

Reserve Bank of India: The RBI will conduct an Overnight Variable Rate Reverse Repo (VRRR) auction today, October 7, under the Liquidity Adjustment Facility (LAF).
Asian Paints: Board meeting scheduled for October 29 to consider an interim dividend.

Economic Calendar

India: RBI Monetary Policy Committee (MPC) rate decision and press conference by Governor Sanjay Malhotra at 10:00 AM IST.

Sector Watch

Banking and Financials: This sector will be the most sensitive to the RBI's policy outcome. The commentary on liquidity and inflation will directly impact lending rates and net interest margins. The market will also look for cues on CRR and SLR adjustments.
Retail and Jewellery: Titan and Trent have posted strong Q2 business updates, putting the retail consumption theme in focus. Strong performance ahead of the main festive season could lead to positive sentiment for the entire sector.
Telecom: The brokerage report on Reliance and Bharti Airtel related to the potential Jio Platforms IPO could generate interest in the telecom space.

Technical Levels

For the Nifty 50, the level of 22,930 acts as a significant immediate hurdle. On the downside, 22,800 is the key level to watch for support during any intraday correction. A decisive break on either side of this range could set the trend for the day post the RBI announcement.

Today's Watchlist

Titan Company: Strong Q2 update with 22% topline growth.
Trent: Monitoring for follow-up momentum after a 13% surge on its Q2 update.
Banking Stocks (e.g., HDFC Bank, ICICI Bank): High sensitivity to RBI policy announcement.
Reliance Industries: In focus after a brokerage report on Jio Platforms IPO potential.
Tech Mahindra: News flow related to AI partnership with Google Cloud.

Frequently Asked Questions

Q: What is the most important event for the Indian stock market today?

A: The RBI Monetary Policy Committee's decision on the repo rate and its accompanying commentary on inflation and growth, scheduled for 10:00 AM IST, is the single most important event for the market today.

Q: Which stocks are in focus based on recent business updates?

A: Titan Company and Trent are in focus today after both companies reported strong business performance for the second quarter, indicating robust consumer demand.

Q: What is the market sentiment for today's trading session?

A: The sentiment is cautiously bearish to neutral. GIFT Nifty indicates a weak opening, and the market is in a wait-and-watch mode ahead of the crucial RBI policy announcement. FIIs also continue to be net sellers.