Friday, 23 October 2026. GIFT Nifty was at 22,832.5 at 8:05 AM IST, 114 points (0.50%) above its level at 3:30 PM on Thursday, even though the Nasdaq Composite fell 2.6% overnight as artificial-intelligence stocks sold off. The rise came in GIFT Nifty's evening and night trade, which ended at 22,880; it has given back 47.5 points of that this morning. At home, foreign institutions sold a net ₹3,458.70 crore of shares on Thursday, a day the Nifty fell for a third straight session. That session is in the post-market report for 22 October.
AI shares pull the Nasdaq down 2.6%
The S&P 500 lost 1.2% on Thursday, its worst day since July, and the Nasdaq 2.6%, the Associated Press reported, as AI stocks swung on worries that high interest rates threaten their boom. The Dow ended almost flat. NBC News reported that Nvidia's chief executive, Jensen Huang, said that capital to finance AI investment was becoming "scarce" because of higher rates and the spending already committed. Meta and Tesla both fell after their results on Wednesday; Tesla had scaled back its capital spending plans.
| US index | Thursday close | Thursday | Week so far |
|---|---|---|---|
| Dow Jones | 52,867.98 | +11.89 (+0.02%) | +865.57 (+1.7%) |
| S&P 500 | 7,663.43 | −93.74 (−1.2%) | +3.99 (+0.1%) |
| Nasdaq Composite | 26,008.86 | −694 (−2.6%) | −131.17 (−0.5%) |
| Russell 2000 | 2,784.03 | +3.01 (+0.1%) | +62.66 (+2.3%) |
The US 10-year yield fell by more than 10 basis points to 4.97%, its lowest in about a month, as investors bought government bonds for safety, Trading Economics reported. It added that markets put a 90% chance on the Federal Reserve holding rates at next week's meeting.
Tokyo took the selling up this morning. The Nikkei 225 was at 61,945, down 962.84 points (1.53%), according to Trading Economics, with Kioxia down 7.6%, SoftBank Group 7.5%, Fujikura 6.8%, Tokyo Electron 6% and Advantest 4.2%.
GIFT Nifty's 22,832.5 sits 144.85 points above the Nifty's Thursday close; its low this morning has been 22,809.5 (how much weight GIFT Nifty can carry).
Foreign funds sold ₹3,458.70 crore on Thursday
NSE's provisional figures show foreign institutions sold a net ₹3,458.70 crore in the cash market on Thursday, buying ₹13,627.50 crore and selling ₹17,086.20 crore. On Wednesday they had been net buyers of ₹1,022.30 crore. Domestic institutions bought a net ₹2,891.30 crore (reading FII and DII data).
The rupee ended an eight-session winning streak, Business Standard reported. It closed 44 paise weaker at a provisional 94.82 to the dollar, from 94.38, according to PTI, which tied the fall to weak equities and Houthi attacks on Saudi energy infrastructure. It had opened at 94.47 and touched 94.94.
| Thursday 22 October | Close | Change |
|---|---|---|
| Nifty 50 | 22,687.65 | −123.70 pts (−0.54%) |
| Sensex | 73,249.39 | −460.30 pts (−0.62%) |
| Bank Nifty | 54,925.70 | −51.20 pts (−0.09%) |
| India VIX | 15.76 | +0.08 (+0.51%) |
| USD/INR | 94.82 | rupee down 44 paise |
Brent at $113.98 after Houthi claims over Yanbu
Brent was $113.98 a barrel this morning, up $0.81 (0.71%), and WTI $100.28, also up $0.81, Trading Economics showed. During Thursday's US session Brent had risen nearly 4%, to about $113, its highest since May, NBC News reported.
Trading Economics pointed to two things: Yemen's Houthis claimed recent attacks on Saudi Arabia's Red Sea port of Yanbu, and US and Israeli forces have reportedly drawn up plans for renewed attacks on Iran after next month's US midterm elections. It also noted that crude exports from the Gulf are close to their pre-war levels.
Jio Platforms closes today; Infosys reports at 3:45 PM
The ₹30,213 crore Jio Platforms issue takes its last bids today. By the end of day two it was subscribed 5.57 times, with qualified institutions at 13.29 times and retail investors at 1.54 times, Business Standard reported. The price band is ₹1,065 to ₹1,119 a share.
At least 75 companies report September-quarter results today, according to Upstox. Infosys releases its numbers at 3:45 PM, holds a press conference at 4:30 PM and its call at 6:00 PM. Also on the list: Adani Power, JSW Steel, Tata Motors, BPCL, Shriram Finance, Torrent Pharma, Dr Reddy's Laboratories, IndusInd Bank, Coforge and SBI Cards. This morning's company news is on Stocks in News Today.
No NSE index contract expires today; weekly contracts expire on Tuesdays.
- Monday, 26 October: Jio Platforms allotment.
- Tuesday, 27 October: monthly F&O expiry; the Federal Reserve's two-day meeting begins.
- Wednesday, 28 October: Jio Platforms' expected listing.
- Tuesday, 10 November: the next NSE trading holiday.
Three things on my screen at 9:00
- Whether Tokyo's chip stocks are still falling, and IT shares in the pre-open session on the day Infosys reports.
- Brent, and any further news from Yanbu.
- Subscription figures for the Jio Platforms issue on its last day.
Sources
- GIFT Nifty, Nifty 50, Sensex, Bank Nifty and India VIX: Zerodha Kite market data
- US index closes and reasons: Associated Press via WTOP; Jensen Huang, Meta, Tesla and Brent on Thursday: NBC News
- US 10-year yield and Fed expectations: Trading Economics; Tokyo: Trading Economics
- Brent and Yanbu: Trading Economics; WTI: Trading Economics
- FII and DII flows: NSE provisional data via 5paisa
- Rupee: PTI via The Pioneer, Business Standard
- Jio Platforms: Business Standard, Groww
- Today's results: Upstox; Infosys timings: Kotak Neo
- Holidays and expiry: NSE holiday list and expiry rules
This note summarises public news and data for information only. It is not investment advice or a recommendation to buy or sell any security, and I don't publish levels, targets or trade ideas. I am not registered with SEBI as an investment adviser or research analyst.