Stock Market Today: Nifty, Sensex Erase Opening Losses; Market Breadth Tilts In Favour Of Buyers

Indian equity benchmarks recovered from their opening losses to trade higher on Monday, with the Nifty 50 rising 0.14% to 22,632.45 and the Sensex gaining 148.65 points, or 0.20%, to 73,272.48, according to the latest available market data.

The recovery followed a weak opening, when both indices extended their declines for a fifth consecutive session. At the open, the Nifty 50 fell 0.87% to 22,402.85, while the Sensex dropped 561.89 points, or 0.77%, to 72,561.94.

Market breadth also improved in the latest snapshot, with 81 stocks advancing, 13 declining and 90 remaining unchanged in the displayed basket. Earlier, selling had been widespread, with 1,688 stocks declining on the National Stock Exchange, compared with 767 advances and 89 unchanged stocks.

Nifty 50 support and resistance levels

The Nifty 50 faces immediate resistance at 22,750–22,800, according to Sachin Gupta, vice president of technical research at Choice Broking. A sustained move above this range could ease selling pressure and open the way for a recovery towards 23,000.

On the downside, immediate support is placed at 22,400–22,300. A decisive break below this zone could extend losses towards 22,200–22,000.

The near-term outlook remains cautious to bearish, with a sustained move above 22,800 needed to improve recovery prospects. A break below the immediate support zone could accelerate selling.

Fed policy meeting, earnings in focus

Investors will track the US Federal Reserve's October 27–28 policy meeting and the September-quarter earnings season for cues on market direction.

The Fed is widely expected to leave interest rates unchanged, but its guidance on the future policy path could influence US Treasury yields, the dollar and foreign portfolio flows into emerging markets. A more hawkish tone could constrain risk appetite, while a more measured outlook could offer some relief to markets.

Corporate earnings will remain another key driver, with investors assessing results, margins and management guidance to gauge the strength of business performance across sectors.