Pre-Market 22 October 2026: GIFT Nifty Signals A Weak Opening; Crude Oil Above $110 And Global Cues To Guide Trade Today
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GIFT Nifty hints at a cautious start for Indian markets as investors track crude oil prices, overseas cues, Reliance Jio Platforms IPO and Q2 earnings.
Indian equities are set to open on Thursday after the benchmarks ended lower on Wednesday, despite an early recovery. Rising crude oil prices weighed on sentiment, while IT stocks bucked the broader decline. Overseas markets were mixed.
How Did Indian Markets Close?
The Nifty 50 fell 0.34% to 22,811.35 on Wednesday, while the Sensex lost 0.19% to settle at 73,709.69. Both benchmarks had gained around 1% in early trade before giving up those advances.
The decline extended beyond the headline indices, as the Nifty Midcap 100 fell 1.58% and the Nifty Smallcap 100 dropped 2.37%.
IT stocks were a notable exception. The Nifty IT index rose 2.88%, with nine of its 10 constituents advancing. Gains in the sector came as improving sentiment towards AI-linked stocks supported technology shares in overseas markets.
The rupee strengthened by 0.5% to 94.46 per US dollar, its strongest level since early September, amid inflows linked to the Jio IPO.
Global Markets
US stocks advanced on Wednesday as stronger results from SpaceX and an upbeat business update from Super Micro Computer lifted sentiment towards AI-related companies. The Nasdaq Composite gained 1.05% to 26,702.86, outperforming the Dow Jones Industrial Average, which rose 0.69% to 52,856.09. The S&P 500 added 0.58% to 7,757.17.
European markets also ended higher on Wednesday. The FTSE 100 rose 0.19% to 10,752.88, while France’s CAC 40 gained 1.06% to 7,921.68.
Asian markets also advanced. Japan’s Nikkei 225 rose 0.85% to 64,621.24, while South Korea’s KOSPI climbed 3.29% to 5,735.66.
GIFT Nifty Today
At 7:35 am on 22 October 2026, GIFT Nifty was trading at 22,644.00, down 84.50 points, or 0.37%, pointing to a potentially subdued opening for Indian equities.
Nifty 50 Technical View
- The 22,800–22,700 zone is the immediate support area for the Nifty 50.
- A decisive close below this range could expose the index to a decline towards 22,500, followed by the 22,300–22,200 zone.
- On the upside, the 23,000–23,200 range is expected to act as resistance.
Key Triggers For Thursday's Session
Overseas cues and movements in crude oil prices remain key factors. Brent traded above $110 a barrel on Wednesday, raising concerns over import costs and inflation.
The September-quarter earnings calendar brings several stock-specific triggers on Thursday. Adani Energy Solutions, Adani Total Gas, Colgate-Palmolive India, Havells India, Hindustan Petroleum, and Swiggy are among the companies scheduled to report results. Stocks including Eternal, KEI Industries and M&M Financial Services may also react to their latest earnings.
Investors will track the next round of Jio Platforms' IPO subscription status ahead of the issue’s closing on 23 October.
Also Read - GMDC Pays ₹302.10 Crore Dividend For FY2025-26, With Gujarat Government Receiving ₹223.55 Crore In Payout
This article is for informational purposes only and should not be considered investment advice from Kotak Neo. For compliance T&C and disclaimers, Visit www.kotakneo.com/disclaimer
Vishwa has spent 10+ years across fintech and FMCG doing what most people miss, connecting the dots, catching trends before they trend, and finding the angle nobody else thought to ask about.
At Kotak Neo, she drives content strategy for neoshorts, Kotak News Desk, and Investing Guide, turning market noise into something worth reading.
When she's not decoding markets, she trades charts for canvases, chasing art, painting, and architecture across cities she's yet to explore.
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