Pre-Market 23 October 2026: GIFT Nifty Signals Positive Opening As Investors Track Crude Oil And Global Cues
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GIFT Nifty hints at a potential gap-up opening on Friday as investors track global markets, crude oil prices above $110, Middle East tensions, rupee weakness, Infosys quarterly results and other major corporate earnings.
Indian equities head into Friday’s session after a third straight day of losses, while the escalating conflict in the Middle East has pushed crude oil higher, adding to inflation concerns and pressure on the rupee.
Indian Markets Recap
The Sensex closed at 73,249.39 on Thursday, down 460.30 points, or 0.62%. The Nifty 50 fell 123.70 points, or 0.54%, to settle at 22,687.65.
Selling was broad-based. Thirteen of the 16 major sectors ended lower, with IT, energy and FMCG among the biggest percentage losers. HDFC Bank fell 1.82%, while Reliance Industries declined 2.03%.
Rising crude prices have added to concerns about India’s import bill and inflation. Fresh attacks on Saudi oil facilities and shipping routes in the Gulf have raised concerns about potential supply disruptions. Brent crude crossed $111 a barrel during Thursday’s trade.
The rupee weakened against the US dollar on Thursday, falling 44 paise to close at 94.82.
Global Markets Update
Wall Street closed mixed. The Dow Jones Industrial Average rose 0.02% to 52,867.98. The S&P 500 fell 1.21% to 7,663.43, while the Nasdaq Composite declined 2.6% to 26,008.86.
European markets were lower in Thursday’s session. The UK’s FTSE 100 stood at 10,725.03, down 0.26%, while France’s CAC 40 fell 1.39% to 7,811.26.
Asian markets also ended sharply lower. Japan’s Nikkei 225 dropped 2.65% to 62,907.84, while South Korea’s KOSPI declined 3.52% to 5,533.77. Concerns over the Middle East conflict, higher oil prices and renewed pressure on technology stocks weighed on sentiment across the region.
GIFT Nifty Cues
At 8:12 am on 23 October, GIFT Nifty was trading at 22,834.50, up 120 points or 0.53%, indicating a potential gap-up opening for Indian equities on Friday, if the gains hold.
Nifty 50 Technical View
The Nifty 50’s immediate support is placed in the 22,550–22,500 range. A decisive break below this zone could expose the index to the next support band at 22,300–22,200.
On the upside, the 22,800–22,900 range is likely to act as immediate resistance, followed by the psychological 23,000 mark.
Key Triggers For Friday’s Session
The Middle East conflict and any further disruption to oil infrastructure or shipping routes will remain important for markets, given the potential impact on crude prices and inflation. Investors will also track the rupee after its latest decline.
On the domestic front, Q2 FY27 earnings from Infosys, BPCL, Dr Reddy’s Laboratories, IndusInd Bank and JSW Steel are scheduled for Friday.
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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