Indian Stock Market Sees Pain Ahead, Bottom Predicted for October 2026 Amid Nifty, Sensex Struggles

The Indian stock market has continued to struggle, with the Nifty 50 index declining nearly 0.88% to close at 23,140, and the Sensex losing 1.13%, or 843 points, over the last five sessions.

Ganesh Dongre, Assistant Vice President, Equity Research at Anand Rathi, attributed the pain in the Indian stock market to geopolitical uncertainties, particularly around US, Iran tensions, and broader developments in the Middle East.

The Nifty has entered an oversold zone following a recent sharp decline, amid concerns about the US Federal Reserve's interest-rate outlook. Sumeet Bagadia, Executive Director at Choice Broking, noted that the Nifty 50 index is likely to retain a Sideways to Bearish bias, with immediate support placed at 22,900-23,000 and resistance at 23,300-23,370.

Amit Goel, Chief Global Strategist at PACE 360, predicted that the Indian stock market will bottom out in October 2026, coinciding with the US Midterm Elections. He cited three factors contributing to this prediction: the US Midterm Elections 2026, manipulation in US bond yields, and the potential for the US to follow Japan's footsteps by fixing US bond yields.