Taking Stock: Market extend gains; Nifty near 25,900, Sensex up 130 pts

Stock Market Today

Market erased most of the intraday gains, ending marginally higher amid final hour profit booking. However, the winning run continued on sixth consecutive session on October 23 amid hopes over the US-India trade deal.

Indian markets opened higher with Nifty above 26,000 and with extended buying it crossed 26,100 for the first time since September 27, 2024.

At close, the Sensex was up 130.06 points or 0.15 percent at 84,556.40, and the Nifty was up 22.80 points or 0.09 percent at 25,891.40. BSE Midcap index down marginally, while smallcap index shed 0.4%.

Nifty Bank index opened higher and tested fresh record high of 58,577.50, intraday, before closing flat at 58,078.05.

Also Read: IT stocks surge up to 5% on India-US trade deal hopes, three other reasons; Nifty IT index hits one-month high

Infosys, HCL Technologies, TCS, Shriram Finance, Axis Bank were among top gainers on the Nifty, while losers were Eternal, Interglobe Aviation, Bharti Airtel, Tata Consumer, Eicher Motors.

On the sectoral front, IT index rose 2%, Private Bank index up 0.5%, while oil & gas index down 0.6%.

Also Read: Mutual funds maintain exposure to Pharma in September even as IT, Metals start to gain ground

Index	Prices	Change	Change%
Sensex	84,673.02	-277.93	-0.33%
Nifty 50	25,910.05	-103.40	-0.40%
Nifty Bank	58,899.25	-63.45	-0.11%

Nifty 50 25,910.05 -103.40 (-0.40%)

Tue, Nov 18, 2025

• 1D
• 5D
• 1M
• 3M
• 6M
• 1Y
• 2Y

Biggest Gainer	Prices	Change	Change%
Bharti Airtel	2,149.20	37.00	+1.75%

Biggest Loser	Prices	Change	Change%
Interglobe Avi	5,739.50	-133.50	-2.27%

Best Sector	Prices	Change	Change%
Nifty Bank	58899.30	-63.40	-0.11%

Worst Sector	Prices	Change	Change%
Nifty IT	35975.20	-400.00	-1.10%

In stock-specific action, Kirloskar Ferrous Industries rose 1% on contract win from ONGC, HCL Technologies added 2.4% on partnership with DIB, Jain Resource Recycling rose 3% as Q2 consolidated profit jumped 77%, Epack Prefab Technologies jumped 14% as Q2 consolidated profit surges 104%, Garuda Construction added 5% on bags work order worth of Rs 231 crore, Bondada Engineering added 10% on Letter of Intent from Adani Group.

Also Read: Why should investors consider DCB Bank despite a sharp post-earnings rally?

More than 200 stocks touched their 52-week high on the BSE, including Bank of India, IDFC First Bank, City Union Bank, Shriram Finance, Axis Bank, Indian Bank, AU Small Finance Bank, Titan Company, Bajaj Finance, Hindalco Industries, L&T, SBI, HDFC Bank, Maruti Suzuki, PNB, Bajaj Finserv, Ceat, Federal Bank, Grasim Industries, among others. Click to View More

Outlook for October 24

Rupak De, Senior Technical Analyst at LKP Securities

The Nifty completely erased its morning gains during the day; nevertheless, the short-term trend remains strong. On the daily chart, a large red candle has formed, indicating the possibility of a pullback towards the 25,700 level in the next few days. However, the short-term trend remains intact, with the potential to revisit higher levels around 26,200 in the next 10–15 days.

On the higher side, immediate resistance is placed at 26,000, above which the index may move towards 26,200.

Nagaraj Shetti, Senior Technical Research Analyst at HDFC Securities

Upside momentum with high volatility continued in the market on Thursday and Nifty closed the day higher by 22 points amidst lack of strength to sustain the highs. After opening with an upside gap of 189 points, Nifty made an attempt to move up soon after the opening. The market hit the road block around 26100 mark and the intraday weakness has resumed from the highs in the mid to later part of the session. The opening upside gap has been filled completely and the market closed the day off the highs.

A long bear candle was formed on the daily chart at the highs with minor upper shadow. Technically this market action indicates a formation of 'bearish meeting line' type candle pattern. This is not a good sign for bulls and any weakness from here could confirm the reversal pattern on the downside.

The overall near-term trend of Nifty remains positive. Any confirmation of negative reversal is likely to open short-term downward correction in the market, which could be a buy-on-dips opportunity. Immediate support is placed at 25700. A decisive move above 26100 could open next upside towards 26300-26400 in the near term.

Shrikant Chouhan, Head Equity Research, Kotak Securities

Today, the benchmark indices witnessed profit booking at higher levels. The Nifty ended 23 points higher, while the Sensex was up by 130 points. Among sectors, the IT index outperformed today, rallying over 2 percent. Technically, after a gap-up open, market consistently witnessing profit booking at higher levels. From the day's highest level, the market shed over 230/750 points. Additionally, on the daily charts, a bearish candle has formed, indicating temporary weakness. However, the short-term market outlook remains positive.

For day traders, levels of 26,000/84,800 will act as key levels to watch. As long as the market trades below these levels, profit booking is likely to continue. On the downside, the market could slip to 25,800-25,700 / 84,300-84,000. On the upside, above 26,000/84,800, the chances of reaching 26,100-26,150 / 85,300-85,500 would increase.

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