The Indian stock market will watch seven key factors between Monday, October 19 and Friday, October 23. Investors are tracking the Jio Platforms IPO, which opens on October 21, alongside ongoing Q2 results. While FIIs sold shares for nine weeks, domestic buying helped the Nifty gain 2.4 percent last week.

Stock market this week: The Indian stock market saw a sharp rally last week as Nifty 50 and Sensex ended with more than 2.4% of weekly gains. With this, the benchmark indices recorded their biggest weekly gain since April this year. In the coming week, a host of incidents, including the Jio Platforms IPO, crude oil price volatility, corporate earnings, will define market sentiments.

As investors prepare for the coming week, let’s understand key incidents and factors that will impact the stock market mood between Monday, October 19 and Friday, October 23.

Q2 results next week

The second quarter earnings season has gained momentum with IT heavyweights announcing results largely in-line with estimates. The Indian stock market this week will be driven by lots of Q2 results specific movements.

Infosys, Eternal, Swiggy, Kotak Mahindra Bank, UltraTech Cement, Adani Energy, Adani Green Energy, Adani Total Gas, Adani Power, Tata Motors and HPCL are among key companies that are set to announce their earnings for the quarter ended September, 2026.

Jio IPO

Apart from corporate earnings, Mukesh Ambani’s Reliance Industries Limited-backed Jio Platforms is set to make waves in India’s primary market. Jio IPO will open for subscription on Wednesday , October 21 and conclude on Friday, October 23.

Its anchor bidding is scheduled for Monday, October 19. Bound to become India's biggest ever IPO, Jio Platforms IPO, is a fresh issue of up to 27 crore shares with a face value of ₹10 each, with no offer-for-sale component. Jio IPO price band is fixed at ₹1,065 to ₹1,119 per share.

FII selling

While cooling US Treasury yields and positive start to Q2 results reacted in favour of Nifty and Sensex, foreign institutional investors (FIIs) continued to remain net sellers for the ninth straight week.

However, selling eased sharply to ₹89.91bn from Rs. 302.94bn in the previous week, and FIIs turned net buyers of Rs. 11.66bn on Friday. Apart from reduction in FII selling, domestic institutional investors (DIIs) buying remain firm.

“DIIs stayed net buyers for a ninth consecutive week at Rs. 78.13bn, though they were net sellers of Rs. 36.61bn on Friday. Month-to-date, DII net buying of Rs. 481.68bn has almost fully absorbed FII net selling of Rs. 487.69bn. Over the same period, the Nifty is up 2.3% from its September-end close of 22,620.45 and 4.1% above its October 8 closing low of 22,231.80,” explained Pabitro Mukherjee, Deputy Vice President-Research, Bajaj Broking.

Indian Rupee

The Indian rupee surged nearly 2% this week as the domestic currency made its biggest weekly gain in seven months. The sharp improvement in Rupee trajectory was buoyed by policy measures aimed at boosting the currency. The domestic currency closed at ₹94.96 per dollar, up 0.1% on the day.

US Treasury yield

The cooling trend in the US 10-year Treasury yields offered global breathing room and supported the benchmark indices. The decline in treasury yields eased pressure on emerging market valuations and curbed risk aversion.

Brent crude price rally

Brent crude prices saw sharp volatility over the past few weeks. Brent crude prices surged toward $110 a barrel on Friday. The commodity surged more than 5% this week amid tightening supply and strong demand for fuel from the shipping industry.

Dussehra stock market holiday

Nifty and Sensex trading will remain shut for one day next week due to Dussehra celebration. Trading in capital markets, derivatives market, electronic gold receipts, and debt market will remain closed on Tuesday, October 20, as per NSE and BSE websites.

Nifty Outlook for the week

Nifty rallied nearly 950 points over the past two weeks, which marked its strongest pullback since August 2026 peak of 24,744. The recent momentum in Nifty 50 has formed a strong bullish candle, accompanied by a higher high and higher low on the weekly chart for the first time in nine weeks, highlighted Pabitro Mukherjee.

“Going ahead, sustained buying momentum in the coming weeks could extend the ongoing pullback towards 23,500 being the 50% Fibonacci retracement levels of the previous decline from 24,774 to 22,180. Conversely, failure to sustain momentum above last week’s high could lead to consolidation within the 22,500–23,150 range. The near-term recovery trend is likely to remain intact as long as the index holds above 22,500 support level,” explained Mukherjee.