Stock Market Today: Sensex Jumps 571 Points, Nifty Reclaims 23,000 Mark As India-US Trade Deal Hopes Lift Investor Sentiment

Mumbai: Indian stock markets opened on a positive note on Wednesday, October 21, as optimism surrounding a potential India-US trade agreement lifted investor sentiment. The BSE Sensex surged over 570 points, while the NSE Nifty 50 reclaimed the 23,000 mark, supported by buying in IT and banking stocks.

Sensex, Nifty Open Higher

The BSE Sensex climbed 570.89 points, or 0.77 per cent, to 74,423.79 during early trading. Meanwhile, the NSE Nifty 50 gained 167.35 points, or 0.73 per cent, to reach 23,055.70.

The Sensex opened at 74,337.93 against its previous closing level of 73,852.90. Similarly, the Nifty began trading at 23,016.00, compared with its previous close of 22,888.95.

IT Stocks Lead Market Rally

Information technology stocks emerged as the biggest gainers, with the Nifty IT index advancing 2.03 per cent. Nifty PSU Bank rose 0.74 per cent, while Nifty Metal gained 0.70 per cent.

Among individual stocks, Infosys jumped 2.47 per cent, followed by TCS at 2.08 per cent and UltraTech Cement at 1.96 per cent. However, Bajaj Finance declined 2.32 per cent, while Bajaj Finserv slipped 0.49 per cent.

Crude Oil Prices Remain A Concern

Despite the positive opening, rising crude oil prices and elevated US bond yields continued to pose challenges. Brent crude traded at USD 110.34 per barrel, registering a 1.43 per cent increase. Geojit Investments' Chief Investment Strategist, Dr V K Vijayakumar, cautioned that external pressures could sustain a sell-on-rally trend.

However, improving corporate earnings, attractive large-cap valuations and strong domestic liquidity could support equities during corrections.

Nifty Outlook And Key Levels

Market analyst Vipin Dixena identified 23,000–23,100 as the immediate resistance zone for Nifty, with support around 22,800–22,700.

Investors will closely monitor India-US trade negotiations, Q2 FY27 corporate earnings, crude oil movements and the Jio Platforms IPO for further market direction.