Stock market outlook for 23 October 2026: what brokers expect today
The Nifty ended Thursday at 22,687.65, down 0.54% for a third straight fall. Desks expect a firmer open on positive GIFT Nifty cues but most stay cautious, with consensus support near 22,500 and resistance near 22,800. Brent above $110, a weak rupee and FII selling are the main worries.
Levels the desks are watching
NIFTY 50
Previous close- R2 Highest resistance named22,900
- R1 Consensus resistance22,800
- S1 Consensus support22,500
- S2 Lowest support named22,200
How the day ended: NIFTY 50 closed at 22,600.00 −0.39%
Consensus levels are the median of the levels each firm named.
Before the bell
Today’s outlook from top brokers
Each firm’s pre-market note in one or two lines, with its stance, its levels and the sectors it is tracking. Views belong to the firms; follow the link for the full note.
| Firm | Stance | Nifty view | Support | Resistance | Sectors to watch | Source |
|---|---|---|---|---|---|---|
| Kotak Neo | Neutral | The firm expects a firmer start with GIFT Nifty about 120 points higher, but stays cautious after three losing sessions, citing Brent above $110 and a weaker rupee. | 22,500 | 22,800 | Banks, IT | Note (opens in a new tab) |
| HDFC Securities | Cautious | The firm reads the short-term trend as weak, with the Nifty back to lower highs and lower lows; it sees room for a slide towards 22,300–22,200 and 22,900 as the hurdle. | 22,200 | 22,900 | Banks | Note (opens in a new tab) |
| Ventura Securities | Neutral | The firm expects a gap-up open on GIFT Nifty cues, but flags weak market breadth, India VIX near 15.8 and continued FII selling as reasons for caution. | 22,500 | 22,800 | Pharma, PSU banks | Note (opens in a new tab) |
| LKP Securities | Cautious | On Bank Nifty, the firm treats 54,800–54,500 as support and 55,200 as the first hurdle, and turns positive only on a close above 56,000. | — | — | Banks | Note (opens in a new tab) |
| SBI Securities | Cautious | The firm expects more selling in Bank Nifty if the 54,400–54,300 zone gives way, with 55,300–55,400 near the 20-day average acting as resistance. | — | — | Banks | Note (opens in a new tab) |
Key themes and news
What could move the market today
FII and DII flows
FIIs sold a net ₹3,458.7 crore in the cash market on 22 October while DIIs bought ₹2,891.3 crore (provisional data, as reported by Ventura Securities). FII selling for October so far is about ₹52,353 crore.
More on this themeGlobal cues
Wall Street was mixed: the S&P 500 fell 1.21% and the Nasdaq 2.6% on tech selling while the Dow was flat. Brent crude crossed $111 a barrel after attacks on Saudi oil facilities, and the rupee closed at 94.82 per dollar.
Sector in focus
Results day for Infosys, Dr Reddy’s, IndusInd Bank, BPCL and JSW Steel. IT, energy and FMCG were the weakest sectors on Thursday.
Policy and events
Bidding for the Jio Platforms IPO closes today.
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Markets
23 October, 2026 Stock Market Updates: Sensex jumps 416 points, Nifty near 22,750, IT stocks rally (opens in a new tab)
Why it matters: IT shares led the bounce at the open after three losing sessions for the Nifty.
India TV News -
Earnings
Infosys Q2 FY27 results and dividend decision on 23 October; share price in focus (opens in a new tab)
Why it matters: Infosys is a heavyweight in both the Nifty and Nifty IT, so its numbers can move the index.
Kotak Neo -
Global
Brent Crude Surges Above $110 After Middle East Energy Facility Strikes (opens in a new tab)
Why it matters: Costlier oil raises India’s import bill and inflation risk, and weighs on the rupee.
5paisa -
IPO
Reliance’s Jio Platforms IPO opens for subscription today, October 21, 2026: key details (opens in a new tab)
Why it matters: The large issue closes for bidding on 23 October and draws liquidity from the secondary market.
Angel One