📈 DAILY MARKET UPDATE
📅 Date – 23 October 2026 | Friday
1️⃣ VERY IMPORTANT NEWS
• Middle East Tensions: Brent crude surged above $113/barrel amid reports of threats to Saudi energy infrastructure and tanker attacks near the Strait of Hormuz.
• India–EU Trade Deal: Commerce Minister Piyush Goyal expects the agreement to be signed by year-end, with implementation potentially within 4–5 months after signing.
• US Tech Sell-Off: Nasdaq plunged 2.6% as concerns over AI spending and profitability triggered selling in major technology stocks.
• Reliance Jio IPO: Subscription reached 5.6x on Day 2, with institutional demand at 13.3x. Today is the final subscription day.
• FII Selling: Foreign investors sold approximately ₹3,459 crore, taking monthly net outflows to ₹42,438 crore.
🌍 GLOBAL MARKET
✔️ US Markets:
- Dow Jones: +0.02%
- S&P 500: -1.21%
- Nasdaq: -2.60%
- Meta declined nearly 7%; major technology stocks remained under pressure.
✔️ Asia Market Update:
- Japan Nikkei: -1.6%
- Japan TOPIX: -2.0%
- South Korea KOSPI: -2.4%
- Australia ASX 200: -0.4%
✔️ Gift Nifty Signal:
- Gift Nifty: Around 22,880
- Indicating a positive gap-up opening of over 150 points compared with the previous Indian market close.
✔️ Crude Oil:
- Brent Crude: Above $113/barrel
- WTI Crude: Near $100/barrel
- Rising geopolitical tensions remain a major concern.
🇮🇳 INDIAN MARKET OVERVIEW
✔️ Sector Trend:
- Nifty IT: -1.05%
- FMCG: -1.41%
- Auto: -0.73%
- Midcap: -0.87%
- Smallcap: -1.14%
- Banking stocks showed relative strength.
✔️ Market Sentiment / Trend:
- Nifty closed at 22,687, down 123 points (-0.54%).
- Third consecutive negative session.
- Doji candlestick indicates market indecision.
- Overall trend remains cautious with a positive opening indication.
✔️ Volatility (India VIX):
- India VIX: 15.76
- Four-month high, indicating elevated volatility.
💰 FII & DII DATA
✔️ FIIs:
- Net Selling: ₹3,459 crore
- Monthly Outflow: ₹42,438 crore
✔️ DIIs:
- Net Buying: Approximately ₹2,900 crore
📊 COMMODITIES UPDATE
✔️ Crude:
- Brent above $113/barrel.
- Negative for oil-sensitive sectors, especially paints
📊 OPTIONS DATA (OI BUILD-UP)
✔️ Call OI:
- Highest Call OI: 23,000
- Next Major Call OI: 23,200
- Fresh Call Writing: 22,600
- Call OI Addition: +2.6%
✔️ Put OI:
- Highest Put OI: 22,500
- Next Major Put OI: 22,600
- Fresh Put OI Addition: +14.3%
✔️ PCR:
- Nifty PCR: 0.78 → 0.88
- Bank Nifty PCR: 0.88 → 0.93
- Put additions improved the PCR, although overall market positioning remains cautious.
✔️ Futures Data:
- Nifty Futures OI: +9.03 lakh
- Bank Nifty Futures OI: +1.24 lakh
- Both contracts witnessed short buildup.
📈 NIFTY LEVELS
✔️ Trend: Bearish to sideways; gap-up opening expected.
- Immediate Support: 22,500
- Major Support: 22,400 / 22,200
- Immediate Resistance: 22,800–22,900
- Strong Resistance: 23,000
Technical View: A sustained move above 22,800–22,900 could trigger a recovery toward 23,000. A breakdown below 22,500 could increase selling pressure.
📉 BANK NIFTY LEVELS
✔️ Trend: Sideways to bearish, with relative strength compared with Nifty.
- Immediate Support: 54,400
- Major Support: Not specified in the source.
- Immediate Resistance: 55,300
- Strong Resistance: 55,400
Technical View: Bank Nifty closed near 54,930. A sustained breakout above 55,400 could improve momentum, while weakness below 54,400 would be negative.
📊 STOCKS / SECTORS IN NEWS
• Infosys & Wipro: US ADRs gained approximately 4% and 2%, respectively, supporting positive IT sector sentiment.
• Accenture & Cognizant: Both rallied around 6% following optimism around AI-related IT services opportunities.
• Swiggy: Revenue grew 36% YoY to ₹7,571 crore, but quarterly net loss increased to ₹922 crore from ₹791 crore in the previous quarter.
• Colgate-Palmolive: Profit rose nearly 4% to ₹342 crore but missed estimates. Operating margin declined from 30.6% to 27.8%.
• HDFC Bank & ICICI Bank: HDFC Bank ADR declined around 1%, while ICICI Bank ADR gained 1.4%.