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Below the Quote on Market Closing Comment 15h Oct 2026 from Ajit Mishra, SVP – research, Religare Broking

"Markets staged a strong rebound on Thursday, with the benchmark indices advancing sharply following the previous session’s decline. Buying interest strengthened through the session, supported by optimism around the ongoing earnings season and improved sentiment following the easing in crude oil prices.

On the sectoral front, IT stocks extended their gains for the third consecutive session, building on recent earnings-driven momentum. HCLTech, TCS and Infosys were among the key contributors, while auto and financial stocks also supported the benchmarks. Reliance Industries added to the positive momentum. However, broader-market participation remained uneven, with midcap and smallcap indices declining by around 0.37% to 1.39%, highlighting continued weakness beyond the frontline stocks.

On the domestic front, easing crude oil prices and a firmer rupee helped improve sentiment. However, geopolitical uncertainty and persistent foreign fund outflows continue to pose risks to a sustained recovery. Investors are likely to track upcoming corporate earnings and management commentary for further cues on market direction.

From a technical perspective, the Nifty has reclaimed its short-term moving average, with the 20-day exponential moving average (20-DEMA) placed around 22,865, and moved above the 23,000 mark. Sustaining above this zone could pave the way for a further upmove towards 23,200, followed by 23,500. On the downside, the 22,500–22,700 zone is likely to provide immediate support in the event of a pullback. Given lingering macroeconomic uncertainties and weak broader-market participation, participants should avoid aggressive positioning and continue to prioritise selective stock-specific opportunities and disciplined risk management."

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