Stock market outlook today, 16 Oct: Sensex, Nifty prediction - DJIA, S&P, NASDAQ, GIFT Nifty, Kospi, Nikkei, Taiwan cues
Stock market prediction for Friday, 16 October, 2026: The Indian stock market is likely to open in green, as GIFT Nifty signalled a positive opening on Friday, 16 October.
Meanwhile, Asian markets traded higher on Friday , while US stock futures also remained positive on Thursday.
“Indian equities are likely to open with a gap-up, with GIFT Nifty trading above 23,100 after yesterday’s strong recovery. The opening strength is supported by lower US Treasury yields and a mildly positive Wall Street close, but sustaining the gap will depend on whether buying expands beyond the large-cap stocks that drove the previous session,” said Hariselvan Radhakrishnan, Founder & CEO of HST Wealth.
Benchmark indices staged a strong rally on Thursday, with the Sensex surging 1,534 points, or over 2%, to close at a three-week high. Gains were driven by heavy buying in banking and IT stocks, along with Reliance Industries, as easing crude oil prices lifted investor sentiment.
The 30-share BSE Sensex advanced 1,533.72 points, or 2.11%, to settle at 74,315.61, near its intraday high. During the session, the index climbed 1,548.4 points, or 2.12%, to touch 74,330.29. The NSE Nifty 50 also ended firmly higher, rising 374.65 points, or 1.66%, to close at 22,997.35. The index finished at its highest level since September 25.
"Markets staged a strong rebound on Thursday, with the benchmark indices advancing sharply following the previous session’s decline. Buying interest strengthened through the session, supported by optimism around the ongoing earnings season and improved sentiment following the easing in crude oil prices.
On the domestic front, easing crude oil prices and a firmer rupee helped improve sentiment. However, geopolitical uncertainty and persistent foreign fund outflows continue to pose risks to a sustained recovery. Investors are likely to track upcoming corporate earnings and management commentary for further cues on market direction," said Ajit Mishra, SVP – research, Religare Broking.
Gift Nifty was trading around the 23,106 level, up nearly 118 points or 0.51% from the Nifty futures’ previous close, indicating a positive for the Indian stock market indices.
The BSE Sensex closed at 74,315.61, gaining 1,533.72 points (+2.11%). The index opened at 72,965.80, touched a high of 74,330.29 and a low of 72,896.38. Strong buying interest throughout the session lifted the benchmark sharply, helping it recover above key psychological levels and record a strong positive close.
On the Sensex outlook, Hitesh Tailor, Technical Research Analyst at Choice Equity Broking Private Limited, said that the index outlook has improved considerably following the strong rally and the breakout above the 73,000–73,500 zone.
“If the index sustains above 73,500–73,800, buying interest could continue and push it towards the 74,700–75,000 resistance band. A decisive breakout above 75,000 would further strengthen the bullish setup, while failure to hold the immediate support zone could lead to profit-booking or consolidation. Traders should watch the index’s ability to sustain its recent gains before taking fresh directional positions,” Tailor said.
On the Sensex outlook, Vatsal Bhuva, Technical Analyst at LKP Securities, said that the index has witnessed a strong rebound from its recent lows, reclaiming the 20 DMA on the daily chart, while RSI shows a bullish crossover supported by positive divergence, indicating improving momentum.
“The index is trading near 23,000, and sustained momentum above this level could lead to a test of the 38.2% Fibonacci retracement near 23,180. However, the broader trend remains weak as Nifty trades below its 50 DMA and 200 DMA. Hence, a cautious stance is advisable, treating the current move as a relief rally until the index reclaims its 50 DMA. Immediate support is placed at 22,800, with resistance at 23,200,” Bhuva said.
Wall Street's benchmark indices staged a recovery from their intraday lows as bargain hunters stepped in to arrest the sell-off in AI and semiconductor stocks. Comments by Nvidia CEO Jensen Huang regarding CoreWeave also helped ease investor concerns.
The Dow Jones Industrial Average closed at its intraday high, gaining 550 points,
S&P 500
S&P 500 rebounded from losses to finish in positive and near-flat territory, rose 0.3% on Thursday.
Nasdaq recovered from an intraday decline of as much as 1.4% to end marginally above the flat line.
South Korean stocks rebounded on Friday, with the Kospi index rising more than 2% in early intraday trade, while Japan’s Topix gained 1.14%. The recovery followed a sharp sell-off on October 15, when the Kospi plunged 7.57%, slipping to the 5,500 level.
Meanwhile, Japanese stocks staged a recovery after a sharp sell-off on 15 October triggered circuit breakers and sent the Nikkei to its steepest single-day decline since March. The Nikkei 225 opened 0.78% higher at 64,925.29 points, with gains subsequently widening to 0.94%, taking the index to 65,029.45 points.
Taiwan stock market also snapped its losing streak by opening in green on Friday. Taiex index rose over 0.78% to 47,334.75 on 15 October.
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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