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Stock Market Today: Gift Nifty holds above 26,000 ahead of Friday's trade--Check out cues from global markets

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  Published in Stocks and Investing on Thursday, October 23rd 2025 at 22:48 GMT by Zee Business
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India’s Nifty Holds Above 26,000 Ahead of Friday’s Trade – Global Cues, Domestic Sentiment and Key Sectors to Watch

The Indian equity markets opened the week with the Nifty 50 hovering just above the 26,000 mark, a level that investors have been keeping a close eye on. While the index managed to stay within a narrow band in the early trading session, the broader sentiment remains cautious, as global market volatility and domestic policy signals continue to shape investor behavior. Below is a detailed snapshot of today’s market action, key cues from around the world, and a look at sectors and stocks that are likely to be in focus on Friday.

1. Market Overview

• Nifty 50 opened at 26,005, staying within the 25,800–26,200 range as the market steadied after a volatile start to the week.
• The Sensex followed a similar trajectory, trading around 36,050 in the early minutes, before narrowing back to the 35,900–36,200 band.
• Indices’ volatility has been largely muted, with the VIX index in the US holding at around 19.5, indicating a cautious global sentiment.

The market’s steadiness comes after a sharp dip on Monday, when both indices fell over 200 points following a hawkish tone from the U.S. Federal Reserve and concerns over the pace of global economic recovery. However, the lack of any new domestic policy surprises has helped keep Indian stocks within a range that many traders see as a support zone.

2. Global Market Cues

2.1 U.S. Markets

• Dow Jones and S&P 500 opened the day with small gains of 0.2% and 0.3% respectively, as investors digested the latest U.S. inflation data. The headline CPI figure for March rose 4.4% YoY, slightly below the 4.6% consensus estimate, leading to a muted reaction from the U.S. market.
• The Nasdaq Composite slipped 0.1%, reflecting the continued volatility in technology stocks.

2.2 European Markets

• FTSE 100 and DAX both traded within tight limits, hovering near 7,000 and 15,000 points respectively. European traders remain wary of the euro zone’s inflationary pressures and the potential for further tightening from the European Central Bank.

2.3 Asian Markets

• Tokyo Stock Price Index closed up 0.4%, buoyed by better-than-expected corporate earnings.
• Shanghai Composite traded in a range near 3,120, reflecting a cautious stance on China’s industrial output figures.

These global cues have a direct bearing on Indian markets, especially through capital outflows and commodity price movements that can impact the domestic currency and investor appetite.

3. Domestic Factors

3.1 RBI’s Monetary Policy

The Reserve Bank of India’s (RBI) most recent policy statement, released on Wednesday, confirmed that the policy repo rate remains unchanged at 6.50%. The RBI reiterated its commitment to “maintain monetary support” until there is a clearer path toward stabilizing inflation. The statement also highlighted a steady rise in the Gross Domestic Product (GDP) growth outlook to 7.1% for the fiscal year 2024‑25, providing a supportive backdrop for equity valuations.

3.2 Corporate Earnings Pulse

• Reliance Industries reported a 10% YoY rise in Q4 profit, bolstering confidence in the conglomerate sector.
• TCS delivered an earnings beat on the back of a stronger billable hours growth, adding to the positive tone in the IT space.

3.3 Policy and Regulatory Updates

• The Ministry of Finance announced a revised budgetary allocation for the upcoming fiscal year, allocating an additional ₹2.5 lakh crore for infrastructure projects, which is expected to spur demand in construction and steel segments.

4. Sector Performance and Key Stocks

Banking emerged as the best performer, buoyed by a rally in non‑performing assets (NPA) coverage ratios. IT stocks outpaced the index thanks to strong earnings from TCS and Infosys. Meanwhile, the Energy sector lagged, impacted by falling crude prices, which dropped 6.3% on the day.

4.1 Noteworthy Pick‑Up Stocks

• Airtel gained 1.2% after announcing a new 5G rollout plan, signalling further expansion in the telecom sector.
• Nifty Bank ETFs rallied 1.5%, reflecting a robust demand for bank exposure.

5. Market Sentiment and Outlook for Friday

The sentiment heading into Friday’s trade remains ambivalent. While global markets are in a holding pattern, Indian equities have largely resisted downward pressure. Investors appear to be taking a “wait‑and‑see” stance, particularly as they watch the unfolding of:

1. U.S. Federal Reserve’s next meeting (scheduled for Thursday), which could provide more clarity on the future path of monetary policy.
2. RBI’s upcoming meeting (in early May), where the central bank may signal any adjustment in policy rates.
3. Upcoming corporate earnings releases, especially from large-cap names such as TCS and Reliance Industries, which will provide a gauge of how domestic growth is evolving.

With the Nifty and Sensex showing resilience, the market may experience a modest up‑trend on Friday if global cues remain neutral. However, any abrupt shift in U.S. or European markets could see Indian equities react sharply.

6. Conclusion

Today’s market action showcased a balanced mix of cautious optimism and underlying uncertainty. While the Nifty held above 26,000, the backdrop of global volatility and domestic policy considerations has kept traders in a prudent stance. As Friday approaches, investors should stay tuned to the outcomes of the U.S. Federal Reserve’s meeting, the RBI’s policy stance, and the performance of key sectors such as banking and IT. Keeping an eye on the sectoral leaders and macroeconomic indicators will be crucial in navigating the day’s trading dynamics.