Indian stock markets are expected to open tepidly on Friday, January 23, 2026, despite positive cues from global markets, where easing geopolitical tensions have boosted sentiment.

Market Performance on Thursday

On Thursday, both the Sensex and Nifty 50 snapped a three-day losing streak and closed higher. The BSE Sensex climbed 397.74 points, or 0.49%, to close at 82,307.37. The Nifty 50 settled 132.40 points, or 0.53%, higher at 25,289.90. The Nifty 50 opened at 25,344.15, reaching a high of 25,434.15 and a low of 25,168.50.

Broader market indices also showed positive momentum, with the BSE MidCap index ending 1.3% higher and the BSE SmallCap index closing 1.1% higher. Nifty 50 has ranged from 25,168.50 to 25,435.75.

Global Market Cues

Gains in European markets, particularly the DAX and STOXX 50, may lend external support and boost risk appetite in early trading. US markets also closed in positive territory on Thursday, with the Dow Jones, NASDAQ, and S&P 500 all recording gains.

Factors to Watch

• Gift Nifty: Trends on Gift Nifty suggest a muted start for the Indian benchmark index, trading around the 25,345 level, a discount of nearly 4 points from the Nifty futures' previous close.
• FII/DII Activity: Continued selling by Foreign Institutional Investors (FIIs) could limit sharp upside. However, consistent buying by Domestic Institutional Investors (DIIs) and a sharp drop in India VIX may protect the downside, keeping markets range-bound with a positive bias. On January 22, 2026, FIIs net sold ₹2,549.80 crore, while DIIs net purchased ₹4,223.00 crore.
• Technical Levels: According to Shrikant Chouhan, Head of Equity Research at Kotak Securities, the Sensex has formed indecisive patterns, suggesting volatility within a broad trading range. Key support for the Sensex lies at 81,900, with resistance at 82,900 and 83,200. Nifty has immediate support at 25130 and resistance around 25400.
• Nifty OI Data: Hitesh Tailor, Research Analyst at Choice Equity Broking, noted heavy call writing at the 25,400 strike and significant put writing at the 25,200 strike, indicating a key near-term pivot.

Stock Specific News

Several companies across sectors, including aviation, banking, energy, real estate, technology, and infrastructure, have reported mixed Q3 performance, with sharp profit swings and steady revenue growth. Stocks to watch include IndiGo, ONGC, NTPC, DLF and Bandhan Bank. The Digilogic Systems IPO allotment status date is January 23, 2026.

Overall Market Sentiment

The market is likely to remain volatile, and traders are advised to be cautious near key support and resistance levels. The high-wave candle pattern formed by the Nifty 50 index indicates market indecision with significant activity on both sides.