Nifty trade above 22,700 in early trade; breadth weak
At 09:30 IST, the barometer index, the S&P BSE Sensex, jumped 313.79 points or 0.44% to 73,562.07. The Nifty 50 index rose 39.55 points or 0.19% to 22,730.80.
In the broader market, the BSE 150 MidCap Index declined 0.96% and the BSE 250 SmallCap Index fell 1.16%.
The market breadth was weak. On the BSE, 855 shares rose and 2,236 shares fell. A total of 173 shares were unchanged.
FPIs sold shares worth Rs 51,075.50 crore in October through 22 October 2026. This follows net selling of Rs 45,536.89 crore in September 2026, while FPIs were net buyers of Rs 17,366 crore in August 2026.
Stocks in Spotlight:
Colgate-Palmolive (India) shed 0.52%. The company reported a 4.29% rise in standalone net profit to Rs 341.57 crore in Q2 FY27 compared with Rs 327.51 crore in Q2 FY26. Net sales increased 12.26% YoY to Rs 1705.79 crore in Q2 FY27.
Swiggy fell 7.19%. The company?s consolidated net loss narrowed to Rs 922 crore in Q2 FY27 compared with the net loss of Rs 1092 crore in Q2 FY26. Net sales jumped 36.14% YoY to Rs 7571 crore in the quarter ended 30th September 2026.
Numbers to Track:
The yield on India's 10-year benchmark federal paper rose 0.11% to 7.470 compared with the previous session close of 7.462.
In the foreign exchange market, the rupee edged higher against the dollar. The partially convertible rupee was hovering at 94.8000 compared with its close of 94.8100 during the previous trading session.
MCX Gold futures for the 4 December 2026 settlement fell 0.74% to Rs 1,42,299.
The US Dollar Index (DXY), which tracks the greenback's value against a basket of currencies, was up 0.04% to 101.65.
The United States 10-year bond yield rose 0.20% to 4.959.
In the commodities market, Brent crude for the December 2026 settlement jumped 49 cents or 0.43% to $113.66 a barrel.
Global Markets:
Dow futures were down 145 points, signalling a lower opening for US stocks.
Asian indices traded lower on Friday, 23 October 2026, as renewed concerns over artificial intelligence spending triggered a selloff in technology shares and investors moved towards safer assets.
The selloff followed a sharp decline in US technology stocks, as earnings from Meta Platforms and Tesla failed to ease concerns over the cost and profitability of AI investments. Semiconductor shares led losses, while rising oil prices and geopolitical tensions in the Middle East added to uncertainty over inflation and global growth.
Japan's September inflation data added another consideration for investors. Core consumer prices, excluding fresh food, rose 2.1% year on year, accelerating from 1.7% in August. An underlying inflation measure that also excludes fuel rose 2.4%, compared with 1.9% in August. The figures strengthened the case for further monetary tightening by the Bank of Japan.
US stocks ended mixed on Thursday, 22 October 2026, as renewed concerns over AI investment costs triggered a sharp technology selloff. The Dow Jones Industrial Average edged up 11.89 points, or 0.02%, to 52,867.98. The S&P 500 fell 93.74 points, or 1.21%, to 7,663.43, while the Nasdaq Composite dropped 694 points, or 2.6%, to 26,008.86. The Nasdaq recorded its steepest daily percentage decline since early June. The Philadelphia SE Semiconductor Index sank 6.7%, its biggest daily percentage drop since June 23.
Despite the technology-led decline, most US stocks advanced, indicating that losses were concentrated in high-growth shares. Investors also moved towards US government bonds, pushing Treasury yields lower as concerns about AI spending and economic growth intensified.
Meta Platforms shares fell about 7% on Thursday despite reporting third-quarter revenue above analysts' expectations. Investors focused on the company's mounting AI-related expenditure and plans to issue non-voting shares to help finance its investments. The announcement renewed concerns about the capital requirements and potential returns of large-scale AI infrastructure spending.
Tesla shares declined 3.1% despite reporting positive free cash flow and reducing its projected 2026 capital expenditure to $20 billion from $25 billion. The revised spending outlook did little to reassure investors concerned about growth prospects and the returns on future investments.
Spotify gained 11% after reporting higher revenue and an increase in premium subscribers. Comcast advanced 3.4% after adjusted earnings per share exceeded expectations despite a decline in revenue.
US initial jobless claims fell by 6,000 to 194,000 in the week ended 17 October 2026, according to the US Department of Labor. The previous week's figure was revised upwards to 200,000 from 199,000. The latest reading was below the market consensus of 200,000, indicating continued resilience in the labour market. Continuing claims rose by 25,000 to 1.728 million in the week ended 10 October.
Brent crude futures fell 0.2% to $112.96 a barrel during early Asian trading on Friday. The modest pullback followed a surge of about 4% in the previous session, which had taken oil prices to a five-month high. Brent remained on course for a third consecutive weekly gain.
Oil prices have been supported by concerns over disruptions to energy supplies following Houthi attacks in Saudi Arabia.
The US 10-year Treasury yield approached a one-month low of 4.953%, falling below the 5% level as investors sought the relative safety of government bonds.
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