Stock Market LIVE Updates, Sensex Today: Sensex Opens 500 Points Lower Amid Mixed Global Cues, Oil Price Rise

Minal Thukral, Executive VP-Growth & Crypto Business Head at CoinDCX

Bitcoin is facing some upward pressure to which the price is slashed below $83,000. However, the rest of the top altcoins like Ethereum, XRP, SOL, HYPE, etc continue to trade above their respective support zone. This suggests the markets remain under a bullish influence despite the minor correction. The top gainers for the day are Lighter with over 10.84% jump, followed by Monero & XCD Network by more than 6% each. Besides, Injective drops by 9.51%, LayerZero & Celestia by more than 5% and Uniswap, Aerodrome Finance & Aptos by more than 4% each. The crypt fear and greed index is at 51, suggesting the market sentiments are still neutral. 

Zcash sets its network upgrade 7 (NU7) to go live on mainnet at block 3,543,405, expected around November 05. Cardano Foundation urges the EU against expanding MiCA to DeFi and staking, calling for rules based on financial risks rather than technology. Solana launches Alpenglow on mainnet in the network's biggest-ever consensus upgrade. The US OCC finalises GENIUS Act rules for stablecoin, covering reserves, redemptions, and custody effective from January 18, 2027. Pi Network, while announcing the official Pi Ecosystem Summit promised to unveil new 'Platform releases & developer updates' at the event.

Vaishali Patel, Senior Manager - Research- Technical Department at Jainam

Nifty closed at 22,811.35 on 21 October, declining 0.34% for the second consecutive session after facing selling pressure near the intraday high of 23,120. The index formed a bearish candle with long shadows on both sides, indicating heightened volatility and selling pressure at higher levels. US markets ended mixed on Wednesday, with the Dow Jones and the S&P 500 rising, while the Nasdaq slipped marginally.

Asian markets are showing a mixed trend in early trade, as geopolitical tensions, elevated oil prices and the latest corporate earnings, with technology stocks remaining in focus. Crude oil contract closed around 9,208 (-1.11%), to remain volatile in line with international prices. GIFT Nifty is trading lower around 22,690, down about 39 points in early trade, indicating a potentially flat to negative opening for Indian equities.

Technically, Immediate support is placed at 22,650-22,700, followed by 22,500-22,400. A decisive breakdown below 22,500 could increase selling pressure and drag the index towards lower support levels. On the upside, 22,900-23,000 is the immediate resistance zone. A sustained breakout above 23,000 could improve sentiment and open the way towards 23,200. However, the RSI has maintained its bullish zone on the lower timeframe despite the recent decline, indicating that short-term momentum remains relatively resilient. The index is trading near an important support area, and if it sustains above this zone, buying interest could emerge.

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The Thesis
Crude's push past $110 triggered Wednesday's sharp reversal and an 8% spike in India VIX, tilting conviction toward domestically insulated, rate-sensitive names. A rupee at six-week highs - aided by fading Fed tightening bets - quietly supports consumption and financials even as the index wobbles.

Where We're Concentrated
The concentration sits in domestic-demand and rate-sensitive themes - telecom-equipment capex, consumption staples, and insurance - names that don't need a calm tape to work. The one PSU refiner is a bet that crack-spread economics hold even as crude climbs, not a bet against the move itself. What breaks it: a genuine drop in Gulf oil flows, not just higher prices, would pressure refining margins and extend the risk-off.

Conviction Picks
Highest Conviction
HFCL
Telecom-equipment capex holds up even as the index wobbles - a domestic-demand play insulated from the crude-driven selloff.
Allied Blenders and Distillers
Consumption staple holding steady through the volatility spike, a hedge against the oil-driven index whipsaw.
Welspun Living
Export-linked textiles with the rupee at a six-week high against the dollar, easing imported-input cost pressure.
Max Financial Services
Insurance re-rates as Fed tightening bets fade, a rate-sensitive name set to benefit from softer yield expectations.
Mangalore Refinery & Petrochemicals
A refiner riding the very crude spike that rattled the broader tape, margin leverage where others see risk.
One Thing to Watch
Oil flows holding despite Hormuz strikes Gulf crude exports are running near pre-war levels even after Wednesday's tanker strike off Oman - a confirmed drop in actual barrels, not just more attacks, is what would turn this into a sustained de-rating. 

Avinash Shekhar, Co-Founder & CEO, Pi42

"Bitcoin's move above $84,000 before pulling back towards $82,000, reflects a market that is testing higher price levels while absorbing selling pressure. The encouraging sign is that Bitcoin has maintained a substantial recovery from its recent lows, while renewed trading activity suggests participants are actively positioning for the next move. Nearly $270 million in crypto positions were liquidated over 24 hours, predominantly short positions, while Bitcoin's open interest rose 4.54%. This points to increased market participation, although sustained spot buying will be important to support further upside.

The regulatory backdrop is also evolving positively. The US Office of the Comptroller of the Currency has finalised rules under the GENIUS Act, setting requirements for permitted payment stablecoin issuers. Clearer standards around reserves, redemptions and supervision could help strengthen confidence in the stablecoin ecosystem and support its integration into mainstream financial services.

For investors, the pullback towards $82,000 need not negate the significance of Bitcoin's move above $84,000. Consolidation after testing resistance can allow the market to absorb profit-taking and establish a stronger base for its next move. If buying demand returns and Bitcoin reclaims the $84,000 to $84,800 range, it could create room for another attempt higher. The focus now is on whether the market can turn this recent momentum into a sustained recovery."

Purvang Mashru, Lead Analyst, BitDelta India

Bitcoin gained 1.7% to about $84,268 and Ethereum rose 1.1% to $2,477. Eight of top ten cryptos by market cap advanced. XRP led with a 2.2% gain, while Avalanche and TRX declined. The equal-weight of these top ten cryptos rose 0.82%, less than Bitcoin.

The advance was broad, but closing quality weakened. Only Bitcoin and BNB finished in the upper 30% of their daily ranges, down from eight assets a day earlier. Ether and Solana ended near their midpoints, while TRX closed near the bottom of its range.

The macro backdrop was supportive but mixed. The S&P 500 gained 0.58%, the Nasdaq rose 1.05% and the dollar index eased 0.14%.

The completed 20 October US fund session added $23.2 million to Bitcoin ETFs and lost $26.1 million from Ether ETFs.

Bitcoin support is near $84,000 and $82,537, with resistance around $84,850. Clearing resistance alongside stronger altcoin closes would strengthen the setup. Losing $84,000 would weaken it, and a break below $82,537 would invalidate the recovery.

Daily quote from Mudrex
Bitcoin is trading near $83,200 after touching $84,737, supported by a recovery in US tech stocks and improving risk appetite. However, gains weakened after fresh strikes in the Middle East, pushing crude prices and bond yields higher. Institutional flows remain supportive, with US spot Bitcoin ETFs attracting $550 million so far this week. Tesla also retained its entire 11,509 BTC holdings through Q3. Meanwhile, Bitcoin open interest has risen to $23.4 billion, increasing the risk of leveraged liquidations if momentum reverses. With the odds of a Fed rate hike next week below 17%, Bitcoin's ability to break above $85,000 will be key, while $80,000 remains a crucial support level said Prateek Gupta, Head of Business, Mudrex

Daily Quote from CoinSwitch
BTC reached near $85K supported by a rebound in technology stocks and improving risk appetite following strong earnings updates from AI-linked companies. The broader crypto market also gained momentum. Institutional demand remained encouraging, as US spot Bitcoin ETFs recorded inflow, suggesting sustained investor interest. Meanwhile, easing oil prices provided additional support to risk assets. Going forward, macro conditions, ETF inflows and broader equity market sentiment will remain key drivers of crypto market direction said CoinSwitch Markets Desk

Akshat Siddhant, Lead Quant Analyst, Mudrex

Gold retreated toward $4,120/oz as the Saudi Aramco drone strike reignited oil-driven inflation concerns and pushed Treasury yields higher. While markets assign less than a one-in-six chance of a Fed hike next week, expectations of a December increase remain firm. Silver also weakened to around $57.5/oz, hovering near multi-week lows. Meanwhile, WTI crude held near $98/barrel after briefly crossing $100, with stronger Middle East crude flows offsetting renewed supply concerns. On the currency front, the rupee strengthened 53 paise to a six-week closing high of Rs 94.38/$, supported by RBI intervention.

Bitcoin fell 2.0% to about US$82,100, Ether 5.0% and the altcoin index 4.3%," Binance Research noted. From January to 18 June Bitcoin fell 28% while the WGMI miners ETF rose 88%; since then Bitcoin is up 30% and the ETF is down 57%," the report stated. Miner wallets have shed about 15% of their Bitcoin since June, with August's 9,566 BTC outflow the largest monthly decline since July 2024.

For Bitcoin, the question is whether miner balances, down 15% since June, remain stable through all of it, the commentary concluded. On Commodities: Brent rose 4.9% to US$110, its highest since May," the report noted.

Riya Sehgal, Research Analyst, Delta Exchange 

Bitcoin's rebound toward $84.6K over the last 24 hours was supported by improving risk sentiment, stronger US equities and a sizeable short squeeze. SpaceX's stronger-than-expected Q3 earnings helped revive confidence in the broader tech and AI trade, while roughly $110 million in crypto shorts were liquidated over a four-hour window as BTC pushed through the $84K area.

However, the key takeaway is that Bitcoin moved higher but failed to sustain the breakout. After testing roughly $84.3K-$84.6K, BTC faced renewed selling pressure and slipped back toward $82.9K. Despite the rejection, the 4-hour structure remains relatively constructive, with price still holding around the key EMA cluster between roughly $82.1K and $82.9K.

As long as $82K-$82.5K holds, another attempt toward $84K-$84.5K remains possible. A sustained breakout above that zone could reopen the path toward $86K-$87.7K, while a break below $82K would increase the risk of a deeper retracement toward $81.2K-$80K.

Ethereum continues to look weaker than Bitcoin after being rejected near its 4-hour 200 EMA around $2,510. ETH is now near $2,440, with $2,430-$2,450 acting as the immediate decision zone. Bulls need to reclaim $2,485-$2,510 to improve the short-term structure.

Overall, the market remains selective rather than fully risk-on. Bitcoin's rejection shows sellers are still active at higher levels, while ETH and several major altcoins continue to lag.

Vikram Subburaj, CEO, Giottus.com

Gold and silver futures are facing renewed pressure as investors reassess the US interest-rate outlook ahead of the Federal Reserve's October 27-28 meeting. Gold has weakened in international markets, while silver has seen a sharper decline in domestic trading. The near-term direction will depend on US inflation signals, Treasury yields and the dollar.

On the MCX, December gold futures were last reported at Rs. 1,46,041 per 10 grams on October 21, down 0.33% from the previous close of Rs. 1,46,519. The contract traded between Rs. 1,45,525 and Rs. 1,46,532. December silver futures were quoted at Rs. 2,09,184 per kg, down 1.09% from the previous close of Rs. 2,11,485. Its reported range was Rs. 2,08,525 to Rs. 2,10,879. These are previous-session reference figures, not confirmed opening prices for October 22.

Internationally, Reuters reported that spot gold fell 0.6% to $4,115.50 an ounce and US December gold futures declined 0.4% to $4,132.30 in early Asian trading on October 22. Spot silver fell 1.1% to $57.33 an ounce. Investors are also watching upcoming US inflation data for clues on the Federal Reserve's policy path.

For Indian investors, gold's immediate support lies near Rs. 1,45,500 per 10 grams. A sustained move above Rs. 1,46,500 could indicate stabilisation. Silver needs to defend the Rs. 2,08,500 zone, while a recovery above Rs. 2,10,900 would ease near-term pressure.

The current weakness does not automatically signal a prolonged downtrend. Investors should avoid chasing intraday moves, use measured position sizes and wait for fresh MCX prices and clearer global cues before making directional bets.

Vikram Subburaj, CEO, Giottus.com

Bitcoin is trading near $84,700 as improving risk sentiment and renewed institutional buying support the recovery. However, uncertainty around the US Federal Reserve's policy outlook could limit further gains. A Reuters poll found that 94 of 100 economists expect the Fed to hold rates at 3.75%-4.00% at its October 27-28 meeting. All respondents expect a rate increase in December, keeping markets sensitive to inflation and energy prices. Bitcoin faces immediate resistance near $84,850, while support lies around 83,000-83,550.

Institutional demand shows tentative improvement. US spot Bitcoin ETFs attracted $526.7 million on October 19 and a further $23.2 million on October 20. However, flows remain volatile, and sustained inflows are needed to confirm a stronger recovery.

Our advice: Investors should avoid chasing short-term rallies. Consider staggered entries, maintain measured position sizes and monitor ETF flows and Fed signals before increasing exposure.

Hemang Gor, Senior Research Analyst - Derivatives and Technical Research, Axis Direct

Indian equities are bracing for a gap-down opening of nearly 80 points today, as indicated by the GIFT Nifty plunging to 22,650. The Nifty 50 ended Wednesday at 22,811.35 (-0.34%), but failing to hold the 22,500-support zone today risks accelerating panic selling toward 22,300, while the upside is capped at 22,900.

Overnight, Wall Street rallied as SpaceX's stronger-than-expected profit revived AI sentiment: the S&P 500 rose 0.6%, the Dow 0.7% and the Nasdaq 1.1%, but the global macro setup still remains highly challenging. With Brent crude sustaining near $110 and US bond yields holding above 5.12%, relentless foreign outflows are forcing domestic liquidity to defend lower levels.

The lone bright spot remains the IT sector. Infosys Ltd and Tata Consultancy Services Ltd led a 2.9% sectoral surge on Wednesday and face further tailwinds from a robust US tech session, where the Nasdaq jumped 1.1%. Meanwhile, Asian markets are soft; the Nikkei 225 is down 1.1% (falling below 64,000) and the Kospi is down 2.10% (nearing 5,600). This gives back part of Wednesday's chip-led rebound and suggests that broader equities will continue to struggle.

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Nischal Shetty, Founder, WazirX

"Bitcoin traded near $83,460, up approximately 0.6% over 24 hours, while Ether hovered around $2,452, marginally lower. Total cryptocurrency market capitalization stood at $2.79 trillion, with the Fear and Greed Index at a neutral 53, suggesting that confidence is recovering without widespread exuberance.

Bitcoin spot ETFs recorded daily net inflows of $289.8 million, according to the supplied dashboard, providing evidence of demand through regulated investment products. Meanwhile, Santiment's October 21 figures put derivatives open interest at $23.4 billion for Bitcoin, $15.5 billion for Ether and $2.7 billion for Solana.

The combination of recovering prices and rising open interest suggests greater derivatives participation. 

Bitcoin is trading close to a technical decision zone. The supplied moving-average snapshot places the 30-period simple moving average near $83,470 and the Hull moving average near $83,644. 

Sustained trading above this band would strengthen the recovery case and bring $84,000 into focus. A break below $82,750 would weaken near-term momentum and expose the lower support zones. Ether's 2,400-2,500 psychological band provides an initial reference range. A sustained move above $2,500 would suggest improving momentum, while losing $2,400 would shift attention towards $2,350. 

US equities advanced on October 21, with the Nasdaq gaining approximately 1.1%, the S&P 500 0.6% and the Dow 0.7%. Together with the supplied VIX reading of 16.68, down 3.64%, this suggests improving appetite for risk, a potentially supportive backdrop for Bitcoin.

However, if elevated energy prices persist and feed into broader inflation, expectations for Federal Reserve easing could weaken. Higher Treasury yields and a stronger dollar, should they follow, could constrain Bitcoin's recovery."