Stock market prediction for Wednesday, 7 October, 2026: The Indian stock market is likely to open in red as GIFT Nifty signalled negative opening on Wednesday, 7 October.
Meanwhile, Asian markets snapped gaining streak by opening lower on Wednesday, while US stock futures posted record highs on Tuesday.
“Indian equities are likely to open flat, with GIFT Nifty near 22,780. Record highs on Wall Street offer a supportive global backdrop, but persistently elevated U.S. Treasury yields and caution ahead of today’s RBI policy decision are likely to keep risk appetite in check,” said Hariselvan Radhakrishnan, Founder & CEO of HST Wealth.
Sensex, Nifty: What happened on Tuesday?
Benchmark indices Sensex and Nifty closed significantly higher on Tuesday, extending their gains for the second consecutive session. Positive investor sentiment was supported by crude oil prices falling below the USD 100-a-barrel mark, along with strong buying in banking stocks and Reliance Industries.
The 30-share BSE Sensex gained 685.34 points, or 0.95%, to end the session at 73,067.81. Meanwhile, the 50-share NSE Nifty advanced 220.35 points, or 0.98%, to settle at 22,776.10.
“The Nifty extended its rebound on expiry day, supported by a sharp 7.9% decline in India VIX and Brent crude oil prices slipping below the $100-a-barrel mark. Investor focus now shifts to the RBI policy outcome tomorrow, while continued rupee weakness remained an overhang, with the currency falling 27 paise to 96.56 per dollar,” said Pabitro Mukherjee, Deputy Vice President-Research, Bajaj Broking.
Sensex, Nifty prediction for today: Sensex, Nifty outlook
GIFT Nifty today
Gift Nifty was trading around the 22,760.50 level, down nearly 35 points from the Nifty futures’ previous close, indicating a negative start for the Indian stock market indices.
Sensex
The BSE Sensex closed at 73,067.81, gaining 685.34 points (+0.95%). The index opened at 72,508.05, touched a high of 73,067.81 and a low of 72,384.83. The benchmark maintained a positive tone through the session and finished near the day’s high, indicating sustained buying interest and a stronger recovery in the broader market.
On the Sensex outlook, Sachin Gupta, VP – Technical Research at Choice Equity Broking Private Limited, said, “Looking ahead, the Sensex has shown a meaningful improvement in its short-term structure after holding the lower support zone and reclaiming higher levels. A sustained move above 73,000 could strengthen the recovery and push the index towards 73,400–73,500, while a failure to hold 72,500 may bring the index back into consolidation. The combination of a higher-high, higher-low formation, positive daily candle and improving RSI suggests that buying momentum is gradually returning. For now, the outlook remains sideways to bullish, with 73,500 acting as the key hurdle for a stronger breakout.”
Nifty 50
On the Nifty 50 outlook, Rupak De, Senior Technical Analyst at LKP Securities, said that the index staged a meaningful recovery on Tuesday, rising above the resistance at 22,600. Besides, the CAS closing helped the index close near 22,800. The daily RSI has moved out of the oversold zone, while a deep positive divergence has formed on the daily RSI.
“In the short term, as long as the index remains above 22,600, the sentiment might remain positive, with resistance placed at 22,850. A sustained move above 22,850 could trigger further recovery. However, failure to move beyond 22,850 might trigger a correction in the market,” De added.
US markets performance
Wall Street’s benchmark indices extended their gains on Tuesday, October 6, with the S&P 500 hitting a fresh record for the first time since August, while the Nasdaq continued its record-setting streak.
Dow Jones Industrial Average
The Dow Jones Industrial Average rose 253.14 points, or 0.49%, to 51,521.04.
The S&P 500 rose 0.58% in Tuesday’s trading session, extending its winning streak to four consecutive sessions and closing above the 7,800 mark for the first time.
Nasdaq
The Nasdaq Composite and Nasdaq 100, which both ended at record highs on Monday, extended their gains to touch new peaks during the session
Japan’s Nikkei 225 performance
Japan’s Nikkei 225 opened largely unchanged, while the broader Topix index gained 0.18%.
South Korea’s Kospi performance
South Korean stocks opened lower on Wednesday, dragged by declines in technology shares, despite easing concerns following a decline in oil prices and bond yields. The benchmark Kospi fell 77.14 points, or 1.11%, to 6,864.25 at the opening bell.
Taiwan stock market
Taiwan stock market also continued to trade higher, with TAIEX index rising 0.23% in the early session on Wednesday.
Disclaimer: This story is for educational purposes only. The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified experts before making any investment decisions.
