Stock market prediction for Wednesday, 21 October, 2026: The Indian stock market is likely to open in green, as GIFT Nifty signalled positive start on Wednesday, 21 October.
Meanwhile, Asian markets traded higher on Wednesday , while US stock futures witnessed a mixed session on Tuesday but rose in the extended session.
Sensex, Nifty: What happened on Monday?
Indian benchmark indices closed sharply lower on Monday, snapping a two-session winning streak amid weak global market cues and losses in private sector lenders HDFC Bank and Axis Bank. The Sensex declined 876.37 points, while the Nifty settled below the 22,900 mark at 22,888.95.
The 30-share BSE Sensex fell 876.37 points, or 1.17%, to close at 73,852.90. During the session, the index dropped as much as 1,020.73 points, or 1.36%, to hit an intraday low of 73,708.54.
The NSE Nifty 50 also ended in the red, declining 257.20 points, or 1.11%, to settle at 22,888.95, as selling pressure weighed on the broader market.
“Markets traded volatile on Monday and declined over 1% amid weak market cues. After opening on a flat note, the Nifty traded choppily during the first half of the session. However, sustained selling in heavyweight stocks across sectors dragged the index lower as the day progressed. Eventually, the Nifty settled near the day’s low at 22,888.95, reflecting the prevailing weakness in market sentiment,” said Ajit Mishra, SVP – research, Religare Broking.
Sensex, Nifty prediction for today: Sensex, Nifty outlook
GIFT Nifty today
Gift Nifty was trading around the 23,031 level, up nearly 96 points or 0.41% from the Nifty futures’ previous close, indicating a positive opening for the Indian stock market indices.
Sensex
The BSE Sensex ended the session at 73,852.90, down 876.37 points (-1.17%), reversing its recent upward momentum. Despite opening with a gap-up of around 120 points, the benchmark came under strong selling pressure and failed to sustain higher levels, reflecting weakness in market sentiment.
On the Sensex outlook, Sachin Gupta, VP – Technical Research at Choice Equity Broking Private Limited, “Technically, the Sensex opened around 120 points higher but witnessed a volatile decline, breaking below the previous support near 74,000 and forming a bearish engulfing candle on the daily chart. The absence of follow-up buying highlights caution among market participants. The RSI stood at 50.19, above its RSI-based moving average of 38.29, suggesting that momentum has not weakened completely despite the sharp correction.”
Nifty 50
On the Nifty 50 outlook, Vatsal Bhuva, Technical Analyst at LKP Securities, said that Nifty formed a long bearish candlestick as selling pressure emerged near the 38.2% Fibonacci retracement level at 23,186, measured from the August 3 high to the October 8 low.
“The index also breached the crucial 23,000 support, indicating continued weakness. Immediate support is placed at 22,800–22,820, near its daily 20-SMA. A break below 22,650–22,700 could further intensify selling pressure. Index traders should remain cautious, keeping 22,800 as key support and 23,000–23,186 as resistance. Long positions built during the mean-reversion rally should be reviewed, with a break below 22,600 levels,” Bhuva said.
US markets performance
Wall Street’s benchmark indices ended on a mixed note on Tuesday, October 20, while stock futures moved higher in extended trading as investors assessed a series of quarterly earnings reports, most of which surpassed market expectations.
Dow Jones Industrial Average
The Dow Jones Industrial Average climbed more than 500 points during the regular session, supported by a rally in 3M Company shares after the company reported strong results and raised its profit outlook. The stock, which accounts for around 2% of the Dow’s weighting, gained nearly 5% by the close.
S&P 500
Meanwhile, the S&P 500 pared its initial gains to finish 0.3% higher on Tuesday.
Nasdaq
Nasdaq Composite ended almost unchanged, however, indices advanced in extended trading.
South Korea’s Kospi performance
South Korea’s KOSPI index rebounded nearly 2% in a single session, climbing back above the 5,660 mark. The index was trading at 5,661.72, up 108.98 points or 1.96% from the previous close.
The recovery came after the benchmark had declined more than 3% in the previous session, reversing the losses and regaining ground in the 5,600 range.
Japan’s Nikkei 225 performance
Japan’s Nikkei 225 surged 1.56% to 65,074.56 in early trade on Wednesday, driven by renewed optimism about demand in the booming artificial intelligence (AI) sector. The broader Topix index also advanced, rising 1.03% to 4,050.65.
Taiwan stock market
Meanwhile, Taiwanese stocks also traded higher on 21 October, with Taiex index rising 1.71% to 47,086.20 in early morning session on Wednesday.
Disclaimer: This story is for educational purposes only. Please consult with an investment advisor before making any investment decisions.