- Indian equities opened cautiously, but rallied significantly on Friday.
- Global equities fell, while crude oil eased, still posing inflation risk.
- RBI’s recent rate hike influences market; investors watch global factors.
Indian equity benchmarks signalled a cautious start on Friday, October 9, as investors weighed easing crude oil prices against weakness in global equities and concerns over tighter monetary conditions. The domestic market is also assessing the fallout of the Reserve Bank of India’s latest repo rate hike.
The BSE Sensex rallied more than 200 points and crossed 71,800, while the NSE Nifty50 jumped nearly 100 points and traded above 22,300, as of 9:15 AM.
GIFT Nifty Signals Positive Opening
The GIFT Nifty pointed to a positive start for domestic equities, with futures trading at 22,374, up 80 points. Softer oil prices offered some relief after crude remained elevated amid concerns over supplies from West Asia.
At around 9:04 AM in pre-open trade, the Sensex stood at 71,702.76, up 109.52 points or 0.15 per cent, while the Nifty was at 22,297.70, up 65.90 points or 0.30 per cent.
However, the gains indicated by domestic futures came against a weak global backdrop, with technology stocks under pressure and investors monitoring bond yields and monetary policy expectations.
Also Read : Aadhaar Rules Change! New Documents Needed To Change Your Name
Asian Markets Track Wall Street Lower
Asian equities were trading lower on Friday after losses on Wall Street, where AI-linked shares came under pressure amid concerns about OpenAI’s revenue outlook.
Japan’s Nikkei 225 fell 0.6 per cent, while South Korea’s KOSPI declined 2.62 per cent.
Overnight, the Nasdaq Composite dropped 1.25 per cent and the S&P 500 slipped 0.47 per cent. The benchmark 10-year US Treasury yield stood at 5.2 per cent, keeping borrowing costs and global financial conditions in focus.
Crude Oil Slips As US Pauses On Iran Attacks
Oil prices eased after US President Donald Trump said Washington would not launch further attacks on Iran before the midterm elections.
Brent December futures fell 0.82 per cent to $103.847 per barrel on the Intercontinental Exchange.
Despite the decline, crude remains above $100 a barrel, leaving oil prices an important concern for India given their potential implications for inflation, the rupee and the current account.
Gold, Silver Gain
Precious metals moved higher, with gold futures rising 0.96 per cent and silver futures gaining 1.64 per cent.
The gains came as investors continued to navigate geopolitical uncertainty and changing expectations around global interest rates.
Also Read : Home Loan Co-Borrower: Why Parents Are Helping Children Buy Homes In Tier-2 Cities
RBI Policy And Foreign Flows Remain Key Triggers
The market is also adjusting to Wednesday’s RBI decision to raise the repo rate by 25 basis points to 5.5 per cent and shift its policy stance from neutral to calibrated tightening. The central bank also raised its inflation projections and upgraded its GDP growth estimates.
The rate hike, combined with elevated oil prices and continued foreign investor selling, could keep investors selective. Market participants will watch global bond yields, crude oil movements and institutional flows for further direction.
Disclaimer : This story is auto aggregated by a computer programme and has not been created or edited by DOWNTHENEWS. Publisher: abplive.com
