Nifty nears second weekly gain in a row as 23,000 level stays in focus
According to CNBC-TV18, Nifty bulls open the last session of the week with optimism as oil stays elevated; 23,000 is the key level to watch.
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what happened
According to cnbctv18.com, Nifty bulls are heading into the final session of the week in an upbeat mood, despite oil prices holding at elevated levels. If the gain holds, it would be the index's second straight weekly rise, the first such run in nearly three months.
Largecap stocks led on Thursday, while weak reactions to earnings kept market breadth uneven and dragged broader stocks lower. IT shares remained in focus: Wipro and Infosys rose 4% to 5% in US trading after Wipro's results, even as Wall Street's sell-off eased.
Traders are watching 23,000 on the Nifty, with support seen shifting higher to the 22,750-22,700 zone.
why it matters
For markets, the picture points to firm large-cap leadership but uneven breadth, which could limit the strength of the rally. Elevated oil prices remain a background risk factor. The 23,000 level is cited as the key reference point for the index.
instruments
sources
- Sensex Today | Stock Market LIVE Updates: Nifty set for second straight weekly gain with 23,000 the key level — cnbctv18.com, 16 October 2026 at 00:48 UTC
prepared by the newsmetry newsroom with ai assistance from the sources listed below. not investment advice.
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