📊 Market Summary
The Indian stock market closed lower on 23 October 2026, with the NIFTY index falling 0.39% to end at 22,600. The Bank NIFTY was more sharply down, slipping 1.16% to 54,287. Among the ~200 actively traded F&O stocks, only 16 advanced while a large majority of 189 declined, reflecting a broadly bearish sentiment. The average stock price change was negative 1.98%, and heavy selling pressure was evident throughout the session.
🏆 Top Gainers & Losers
| Top Gainers | % Change | Sector |
|---|---|---|
| INDIAVIX | +6.66% | Diversified |
| ETERNAL | +4.25% | Diversified |
| SHREECEM | +1.81% | Cement |
| APOLLOHOSP | +1.65% | Pharmaceuticals |
| ONGC | +1.11% | Energy & Oil |
| Top Losers | % Change | Sector |
|---|---|---|
| SWIGGY | -16.75% | Diversified |
| UJJIVANSFB | -6.28% | Diversified |
| ADANIENSOL | -5.82% | Energy & Oil |
| NAM-INDIA | -5.47% | Banking & Finance |
| BANDHANBNK | -5.40% | Banking & Finance |
Swiggy was the biggest loser, plunging 16.75% on extremely high volume (15.7x average) following disappointing Q2 results. Other notable declines came from banking and energy stocks such as UjjivansFB (-6.28%) and Adani Enterprises (-5.82%).
🏭 Sector Scorecard
| Sector | Average % Change | No. of Stocks |
|---|---|---|
| Cement | +0.31% | 4 |
| Telecom | -0.70% | 3 |
| Pharmaceuticals | -1.03% | 16 |
| Information Technology | -1.18% | 13 |
| Automobile | -1.19% | 16 |
| Chemicals | -1.21% | 5 |
| FMCG | -1.52% | 14 |
| Energy & Oil | -1.89% | 17 |
| Diversified | -2.03% | 36 |
| Realty | -2.50% | 6 |
| Infrastructure | -2.55% | 27 |
| Banking & Finance | -2.58% | 55 |
| Metals & Mining | -2.98% | 10 |
💰 FII/DII Activity
On 23 October 2026, the FII and DII participants showed contrasting futures positions that retail traders should keep an eye on.
| Participant | Futures Long | Futures Short | Futures Net Position |
|---|---|---|---|
| FII | 3,681,192 | 3,160,285 | +520,907 |
| DII | 446,991 | 4,725,524 | -4,278,533 |
Foreign Institutional Investors (FIIs) held a net long futures position of 520,907 contracts, indicating a bullish stance in the market. This suggests that FIIs are expecting prices to rise, which can be a positive signal for retail traders looking for upward momentum.
On the other hand, Domestic Institutional Investors (DIIs) showed a significant net short futures position of -4,278,533 contracts. This bearish positioning means DIIs might be anticipating a market correction or downward pressure in the near term.
For retail traders, this divergence between FIIs and DIIs highlights the importance of watching how these big players adjust their positions. While FIIs are betting on gains, the heavy short stance by DIIs could lead to increased volatility. Staying cautious and monitoring market reactions to these positions can help in making informed trading decisions.
📰 News That Moved Markets
- Sensex crashed 1,100 points from the day's high, with NIFTY slipping below 22,450 amid broad selling pressure, rattling investor confidence.
- Swiggy plunged 16.75% after disappointing Q2 results, dragging the diversified sector lower.
- Oil prices climbed to $113 per barrel, adding to concerns over input costs for energy and related sectors.
- Dividend and bonus announcements from companies like IRFC and LTM attracted some investor attention ahead of record dates.
📈 Volume & Smart Money Signals
Volume surged above 1.5 times the average in 153 stocks, indicating strong participation in the sell-off. Notably, Swiggy traded at 15.7 times its average volume, highlighting panic selling. High delivery percentages were seen in LICI (78.2%), Divis Laboratories (76.1%), and Axis Bank (70.9%), signaling strong institutional interest despite the broader market weakness.
🔮 Under the Hood: Market Structure
Today was predominantly a normal variation down day (98 stocks), meaning the market traded lower with some variation but stayed mostly within the previous day's price range. The opening was mostly within the previous day's fair value zone for 125 stocks, while 32 opened below the previous day's low price range, and 13 opened with a gap down, signaling bearish sentiment from the start.
There were 67 strong downward moves from the opening bell (open drive down), with only 1 strong upward move, confirming selling dominance. The most-traded price level (Point of Control) shifted lower compared to the previous day, and the price range where most trading occurred (Value Area) contracted downward, indicating sellers controlled the session.
Heavy selling tails (areas where price was pushed down aggressively) appeared in 189 stocks, while only 2 showed aggressive buying at lows. Additionally, 48 instances of rapid price drops with little trading activity left behind (single prints down) highlighted quick moves lower without much price acceptance.
⚡ F&O Highlights
Three stocks were in the F&O ban list today due to price volatility: Ambuja Cement, Kaynes Technology, and SAIL. The next weekly and monthly F&O expiry is scheduled for 27 October 2026.
🎯 Stocks to Watch Tomorrow
- Swiggy: Watch for continued volatility after the sharp Q2 disappointment and heavy volume selling.
- ETERNAL: Strong volume and a 4.25% gain with buying support could signal a potential rebound.
- LICI and Divis Laboratories: High delivery percentages suggest institutional interest; these stocks may see follow-through moves.
- Banking & Finance stocks like NAM-INDIA and BANDHANBNK: Given their sharp declines, these could be key to watch for any recovery or further weakness.
📐 Key Levels for Tomorrow
| Index | Support | Resistance | Fair Value Zone |
|---|---|---|---|
| NIFTY | 22,399.15 (Value Area Low) | 22,786.95 (Day High) | 22,399.15 to 22,559.15 |
| BANKNIFTY | 54,076.80 (Value Area Low) | 54,965.75 (Day High) | 54,076.80 to 54,376.80 |
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