The Indian stock market benchmark indices, Sensex and Nifty 50, are expected to open higher on Tuesday, October 28, amid mixed global cues but buoyed by optimism over a potential US-China trade deal and an anticipated US Federal Reserve interest rate cut this week. On Monday, the Sensex surged 566.96 points (0.67%) to close at 84,778.84, while the Nifty 50 gained 170.90 points (0.66%) to settle at 25,966.05, extending the indices’ recent upward momentum. Analysts attribute the rally to easing trade tensions, corrective moves in precious metals, and position covering ahead of the current month expiry, which supported domestic equities.

Global cues are mixed. Asian markets traded lower, with Japan’s Nikkei 225 down 0.27%, Topix down 0.61%, South Korea’s Kospi down 1.2%, and Kosdaq down 0.6%, while Hong Kong Hang Seng futures indicated a higher start. Meanwhile, Wall Street ended at record highs for the second consecutive day, with the Dow Jones Industrial Average up 337.47 points (0.71%), the S&P 500 gaining 83.47 points (1.23%), and the Nasdaq Composite rising 432.59 points (1.86%). Technology stocks led the gains, including Nvidia (+2.81%), Tesla (+4.31%), AMD (+2.7%), Intel (+3.29%), and Apple (+2.28%), while Qualcomm jumped 11%.

Other notable developments include US President Donald Trump’s meeting with Japan’s Prime Minister Sanae Takaichi in Tokyo to discuss trade and security, and the China-ASEAN Free Trade Agreement upgrade focusing on digital and green economy sectors. Commodity markets saw gold near a two-week low at $3,981.67 per ounce, crude oil traded slightly lower with Brent at $65.61 and WTI at $61.25, and the US dollar index eased marginally to 98.666, maintaining strength within recent ranges. Overall, domestic markets are poised for a positive opening, supported by global optimism and local investor positioning.