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Indian Markets Eye Positive Start As Global Cues Offer Mixed Signals
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Moneycontrol•19-10-2026, 07:33
Indian Markets Eye Positive Start As Global Cues Offer Mixed Signals
- •Indian benchmark indices are expected to see a flat to positive start following a positive trend in GIFT Nifty trading up by 85 points.
- •Indian equity markets previously extended their rally for a second straight session driven by buying interest in IT, media, and metal stocks.
- •Wall Street tumbled due to pressures on AI-related technology stocks and rising oil prices, while Asian markets slipped amid earnings and funding concerns.
- •Foreign institutional investors turned net buyers after a 15-session selling streak, acquiring equities worth Rs 1,166 crore.
- •Crude oil prices slipped after US policy updates regarding Russian fuel exports, while gold prices opened higher following remarks from Federal Reserve officials.
Key Questions Answered
On October 16, the Sensex closed up 413.66 points or 0.56 percent at 74,729.27, while the Nifty ended up 148.80 points or 0.65 percent at 23,146.15.
Foreign institutional investors (FIIs) turned net buyers on October 16, purchasing equities worth around Rs 1,166 crore after 15 consecutive sessions of selling. Meanwhile, domestic institutional investors (DIIs) snapped their 45-session buying streak by offloading equities worth Rs 3,661 crore.
Immediate resistance is expected in the 23,300–23,350 zone, which coincides with the 50-day EMA and the upper end of a bearish gap. This is followed by 23,500 as a crucial hurdle representing the 50 percent Fibonacci retracement level.
