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Stock market prediction for Thursday, 22 October, 2026: The Indian stock market is likely to open on a negative note, as GIFT Nifty signalled muted start on Thursday, 22 October.
Meanwhile, Asian markets traded mixed on Thursday , while US stock futures gained for third day in a row, however, remained under pressure in the extended trading on Wednesday.
“Indian equity markets are likely to open on a cautious note and remain under pressure, as persistently high crude oil prices and escalating geopolitical tensions weigh on investor sentiment. WTI crude is trading near $98 a barrel, while Brent has moved above $110, keeping macroeconomic risks firmly in focus. The prospect of sustained energy-price pressures could temper hopes of a durable recovery in domestic equities,” said Ponmudi R, CEO of Enrich Money.
Equity benchmark indices extended their losing streak to a second consecutive session on Wednesday, with the Sensex falling 143 points as selling pressure in power, banking and financial stocks, coupled with elevated crude oil prices, weighed on market sentiment. Rising US bond yields and continued foreign institutional investor (FII) outflows further dampened investor confidence.
The 30-share BSE Sensex declined 143.21 points, or 0.19%, to settle at 73,709.69. After opening in positive territory, the index surged 829.29 points, or 1.12%, to touch an intraday high of 74,682.19 before surrendering its gains and slipping to a low of 73,229.45.
The NSE Nifty 50 also ended lower, shedding 77.60 points, or 0.34%, to close at 22,811.35. The index climbed to an intraday high of 23,120.90 during early trade before reversing course to hit a low of 22,702.85.
“Markets witnessed a sharp reversal on Wednesday, surrendering early gains amid profit booking and persistent macroeconomic concerns. The benchmark indices opened on a positive note, supported by strong buying in IT stocks and Reliance Industries, but selling pressure intensified as the session progressed. Consequently, the Nifty declined 0.88% to close at 22,687.50, slipping below the 22,700 mark and highlighting the fragility of the recent recovery,” said Ajit Mishra, SVP – research, Religare Broking.
Gift Nifty was trading around the 22,682 level, down nearly 46.50 points or 0.20% from the Nifty futures’ previous close, indicating a negative opening for the Indian stock market indices.
SENSEX closed at 73,709.69, down 143.21 points, after opening at 74,337.93 and touching an intraday high of 74,682.19 and a low of 73,229.45. Despite a strong start, the index witnessed selling pressure at higher levels and failed to sustain its initial gains, resulting in a negative close.
On the Sensex outlook, Sachin Gupta, VP – Technical Research at Choice Equity Broking Private Limited, said, "The SENSEX outlook remains sideways, with selling pressure near the 74,650 zone limiting the recovery. Sustaining above 73,500 will be important to preserve near-term stability, while a break below the 73,200 could invite further weakness. On the upside, a sustained move above 74,500 may improve sentiment and open the door for a recovery. Until a decisive breakout occurs, the index is likely to remain range-bound, with traders advised to monitor key support and resistance levels closely."
On the Nifty 50 outlook, Osho Krishan, Chief Manager - Technical & Derivative Research, Angel One, said that despite the initial optimism, the Nifty50 failed to sustain its upward momentum and concluded the session on a subdued note, settling around the 22800 zone, down 0.34% for the day.
“The technical structure reflects a cautious undertone, with the Nifty50 hovering around its 20-DEMA and extending its corrective trajectory for the second consecutive session in the week. However, the broader higher-low formation remains intact, as the index managed to defend the crucial 22720 zone on a closing basis despite the broad-based selling pressure. From a technical perspective, a decisive breach below 22720 could accelerate the downside towards the 22650-22600 zone in the near term. On the upside, the 22900-23000 zone is expected to act as an immediate resistance area. While a sustained move above 23150 would be essential to revive buying interest, improve market sentiment, and signal a potential bullish reversal in the prevailing price structure,” Krishan said.
Technology stocks on Wall Street extended their rally for a third consecutive session on Wednesday, October 21, supported by a sharp rise in SpaceX shares. However, US stock futures came under pressure in extended trading following earnings announcements from Meta, Tesla and IBM.
During the regular session, the Dow Jones Industrial Average climbed as much as 360 points before closing at the day's high, nearing the 53,000 mark.
The S&P 500 also advanced for the third straight session, gaining 0.5% on Wednesday.
Meanwhile, Nasdaq gained nearly 1% in Wednesday's trading session.
South Korean stocks opened lower on Thursday, giving up some ground after a sharp rally in the previous session, as investors assessed concerns over the profitability of investments in AI infrastructure.
The benchmark Kospi index dropped 65.55 points, or 1.14%, to 5,670.11 at the opening bell, following a 3.29% surge in the previous session.
Japan’s Nikkei 225 index opened 0.13% lower at 64,539.36 before recovering to trade 0.22% higher at 64,764.54. Among individual stocks, Kioxia gained 1.52% to 13,715 yen (around $87) in early trading, while SoftBank Group edged down 0.15% to 4,615 yen.
Meanwhile, Taiwanese stocks traded higher on 22 October, with Taiex index rising 0.61% to 47,175.33 in early morning session on Thursday.
Disclaimer: We advise investors to check with certified experts before making any investment decisions.
Vaamanaa covers business and stock market news. Started in 2020, she has been producing news on digital platforms for over 4.5 years now. She writes on markets, commodities, IPOs, and industry. She has worked for news channels like Jagran New Media and Business Insider India. You can reach out to her at vaamanaa.sethi@htdigital.in.
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