Indian Stock Market Set for Positive Opening on October 12
The Indian stock market is expected to start positively as GIFT Nifty indicates gains amid mixed Asian market performances.
BSE Sensex closed at 72,472.33, gaining 879.09 points.
NSE Nifty ended at 22,520.45, reflecting a 1.30% increase.
Foreign institutional investor outflows continue to weigh on market sentiment.
The Indian stock market is poised for a positive start on October 12, 2026, with GIFT Nifty signaling an upward trend. This comes after a week where Indian equities broke an eight-week losing streak, buoyed by easing crude oil prices and favorable corporate updates. Despite this, investor sentiment remains cautious as they await further buying momentum following a significant rebound on Friday.
In the previous week, the BSE Sensex experienced a rise of 0.78%, closing at 72,472.33, while the NSE Nifty gained 0.44%, settling at 22,520.45. The market saw a notable recovery on Friday, with the Sensex surging 879.09 points, or 1.23%, after two days of losses, primarily driven by strong performances in IT stocks like Tata Consultancy Services. The Sensex reached an intraday high of 72,669.20 during the session, showcasing renewed investor interest.
Market analysts, including Ponmudi R, CEO of Enrich Money, have pointed out that while the end of the losing streak is a positive sign, the market's ability to sustain this momentum is crucial. The Reserve Bank of India's recent decision to raise the repo rate by 25 basis points to 5.50% has added to market volatility, making it essential for investors to monitor foreign institutional investor flows and crude oil price trends.
The outlook for the Sensex remains cautiously optimistic, with analysts suggesting that holding above the 71,700–72,000 range could lead to further gains towards 72,800–73,100. However, any rejection near resistance levels may trigger renewed consolidation. Similarly, the Nifty 50 is attempting to stabilize, with immediate resistance levels identified at 22,800 and 23,100, while support is crucial in the 22,000–22,180 range.
As Wall Street closed higher on Friday, attention now shifts to the upcoming third-quarter earnings season and key inflation data, which could influence the Federal Reserve's monetary policy. Investors are advised to remain selective and vigilant as the market navigates through these developments, particularly in light of ongoing foreign selling pressure and macroeconomic uncertainties.
