Indian markets rebound as tech sell-off and Jio IPO stay in focus
pre-market1 source ↓machine-written, see hownot a recommendation
- RELIANCE close
- ₹1,215
- On the day
- +3.44%
- Futures OI, short covering
- -2.7%
- Put-call ratio
- 0.63
- Max pain
- ₹1,210
Indian equities staged a sharp rebound on Thursday, 15 Oct 2026, as the Sensex surged more than 1,500 points and the Nifty reclaimed 23,000, according to CNBC-TV18. The rally came despite a broader global technology sell-off, with South Korean chipmaker SK Hynix reported to have fallen nearly 60% from its peak in four months, erasing close to $700 billion in market value. The newsletter also flagged the Jio IPO as a key domestic-market focus and said Tech Mahindra beat Street expectations, although the excerpt did not provide the earnings figures.
The derivatives read shows that the domestic recovery was accompanied by short covering in major counters. OI Charts data showed the Jio-linked stock at ₹1,215, up 3.4% on the day, while futures open interest fell 2.7%. Its ₹1,210 max-pain level was close to the close, with the largest call open interest at ₹1,250 and the largest put open interest at ₹1,160. The positioning suggests that traders reduced bearish futures exposure during the rebound, while the open-interest walls identify the near-term levels being watched. ⚡
Tech Mahindra rose 4.8% to ₹1,650, extending its five-session gain to 10.3%, while futures open interest declined 0.1%, also indicating short covering. OI Charts data placed the largest call open interest at ₹1,540 and the largest put open interest at ₹1,500, with max pain at ₹1,540. The move gives the IT sector a stronger domestic signal even as the global AI and semiconductor trade remains under pressure 💻.
The next market focus is whether the Nifty can sustain trade above 23,000 and whether the Jio IPO theme produces further company-specific activity. Traders will also watch the ₹1,250 call wall and ₹1,160 put wall in the Jio-linked stock, alongside the ₹1,500–₹1,540 options range for Tech Mahindra. The global semiconductor sell-off remains an external risk for technology sentiment, while the reported earnings beat could support selective IT interest. 📈
Source: CNBC-TV18, 15 Oct 2026
Not investment advice. For informational purposes only.