Stock market outlook today, 23 Oct: Sensex, Nifty prediction - DJIA, S&P, NASDAQ, GIFT Nifty, Kospi, Nikkei, Taiwan cues
Stock market prediction for Friday, 23 October, 2026: The Indian stock market is likely to open in green, as GIFT Nifty signalled positive start on Friday, 23 October.
Meanwhile, Asian markets traded lower on Friday , while US stock futures remained flat amid sell-off in tech stocks.
Indian benchmark indices Sensex and Nifty extended their losing streak to a third consecutive session on Thursday, as a sharp rise in crude oil prices amid escalating West Asia tensions weighed on investor sentiment.
The 30-share BSE Sensex fell 460.30 points, or 0.62%, to close at 73,249.39. During the session, the index declined as much as 704.58 points, or 0.95%, to touch an intraday low of 73,005.11.
The NSE Nifty 50 dropped 123.70 points, or 0.54%, to settle at 22,687.65. The index witnessed deeper losses during the day, plunging 256.5 points, or 1.12%, to hit an intraday low of 22,554.85.
“Markets remained under pressure on Thursday, extending their decline for a third consecutive session amid elevated crude oil prices and escalating geopolitical tensions. After opening lower, the benchmark indices witnessed volatile trading, with intermittent buying from lower levels offering only limited relief. Consequently, the Nifty declined by over half a percent to settle at 22,665.80, reflecting continued weakness in market sentiment,” said Ajit Mishra, SVP – research, Religare Broking.
Gift Nifty was trading around the 22,800 level, up nearly 165 points or 0.73% from the Nifty futures’ previous close, indicating a positive opening for the Indian stock market indices.
The BSE SENSEX closed at 73,249.39, down 460.30 points, marking a decline of 0.62% during the session. The index opened at 73,343.33, touched an intraday high of 73,720.83, and slipped to a low of 73,005.11, reflecting persistent selling pressure and a weak market tone.
On the Sensex outlook, Sachin Gupta, VP – Technical Research at Choice Equity Broking Private Limited, said, "Overall, the SENSEX outlook remains sideways with a cautious undertone as the index continues to face selling pressure and struggles to regain higher levels. Holding above 73,000 will be crucial for near-term stability, while a sustained break below the 72,600–72,900 support zone could trigger further weakness. On the upside, a move above 73,700–74,000 would be needed to improve sentiment and support a recovery. Until a decisive breakout occurs, traders should remain cautious and monitor key support, resistance and price action closely."
On the Nifty 50 outlook, Vatsal Bhuva, Technical Analyst at LKP Securities, said that the index managed to close above its 200-WMA following the CAS session; however, the overall sentiment and price structure remain weak.
“The index faced strong selling pressure near its 20-DMA and failed to sustain above this crucial resistance zone. Long positions accumulated during the mean reversion rally should be reviewed if the index closes below 22,600 and its 200-WMA. On the upside, immediate resistance is placed at 22,800 (20-DMA zone) and 23,000, while 22,600 remains a crucial support. A cautious, level-based trading approach is advisable,” he said.
Wall Street’s technology-heavy indices suffered their steepest single-day losses in months on Thursday, October 22, as disappointing earnings from Meta Platforms and Tesla, concerns over rising AI-related spending, and higher crude oil prices weighed on investor sentiment. The developments prompted investors to rotate out of high-performing technology stocks and shift towards defensive sectors, including dividend-paying consumer staples and utility stocks.
The Dow Jones Industrial Average edged up 11.89 points, or 0.02%, to close at 52,867.98
S&P 500
Meanwhile, the S&P 500 declined 93.74 points, or 1.21%, to 7,663.43 on Thursday.
The Nasdaq indices bore the brunt of the sell-off, with the Nasdaq Composite plunging 2.6% and the Nasdaq 100 declining 2.9%. Both registered their steepest single-day losses since June.
South Korean equities fell sharply in morning trading, with the benchmark KOSPI opening 2.36% lower at 5,403.17 points before extending its losses to 3.27%, taking the index to 5,352.61 points.
Japan’s equity market traded lower in morning deals, with the Nikkei 225 opening at 62,667.05 points before extending its losses. The index fell 1.68% to around 61,830 points.
Meanwhile, Taiwanese stocks also opened in red, with Taiex index falling over 2% to 46,041.43 on Thursday.
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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HomeMarketsStock MarketsStock market outlook today, 23 Oct: Sensex, Nifty prediction - DJIA, S&P, NASDAQ, GIFT Nifty, Kospi, Nikkei, Taiwan cues
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