Stock Market Open Report Today, October 16, 2026: Sensex, Nifty Slip in Early Trade on Friday Despite Strong Asian, US Cues

Mumbai, October 16: Indian equity benchmarks slipped into the red in early trade on Friday despite strong Asian cues and firm US markets overnight. The BSE Sensex was at 74,197.02, down 118.59 points, or 0.16 per cent, while the NSE Nifty 50 was at 22,967.65, down 29.70 points, or 0.13 per cent, at 9:22 am. 

The Nifty 50 opened at 23,065.10, above Thursday’s close of 22,997.35, but had slipped below that level by 9:22 am. Thursday’s close was 2.65 points short of the 23,000 mark after a 1.66 per cent rally, while the Sensex gained 2.11 per cent, its biggest single-day jump in four months. 

Asian markets were strongly higher on Friday morning, with the Kospi up 3.14 per cent and the Nikkei 225 up 1.75 per cent, after a sharp sell-off on Thursday that had cut the benchmark Kospi by 7.57 per cent. 

Wall Street ended higher on Thursday as investors rotated out of technology into defensive plays, Treasury yields tumbled and sentiment stabilised. The Dow Jones Industrial Average rose 1.08 per cent, the S&P 500 gained 0.33 per cent and the Nasdaq Composite edged up 0.08 per cent. 

Oil prices are easing but remain elevated, with Brent crude down 0.42 per cent at USD 105.48 per barrel, while the Gulf conflict keeps supply risks in focus. Reuters has documented at least 135 Iranian drone and missile attacks on Gulf infrastructure since February 28. 

Top Gainers and Losers 

In early trade, NSE data showed Tech Mahindra (TECHM) leading the Nifty 50 gainers, with a last traded price (LTP) of Rs 1,736.50 against a previous close of Rs 1,650.00, a rise of Rs 86.50 or 5.24 per cent. Tata Consultancy Services (TCS) rose 2.34 per cent to Rs 2,405.00 from Rs 2,350.00, Infosys (INFY) gained 2.16 per cent to Rs 1,133.95 from Rs 1,110.00, and Bharti Airtel (BHARTIARTL) added 1.06 per cent to Rs 1,873.70 from Rs 1,854.00. HCL Technologies (HCLTECH) was shown up 1.48 per cent at Rs 1,368.00, a figure NSE calculates on an adjusted base because of a corporate action dated October 16, while against the unadjusted previous close of Rs 1,360.00 the gain is 0.59 per cent.  

On the losing side, HDFC Life Insurance (HDFCLIFE) fell 2.16 per cent to an LTP of Rs 538.65 from a previous close of Rs 550.55, a drop of Rs 11.90, and Jio Financial Services (JIOFIN) declined 2.13 per cent to Rs 214.35 from Rs 219.01. Hindustan Unilever (HINDUNILVR) slipped 1.10 per cent to Rs 1,876.20 from Rs 1,897.10,Reliance Industries (RELIANCE) lost 0.96 per cent to Rs 1,203.30 from Rs 1,215.00, and SBI Life Insurance (SBILIFE) shed 0.92 per cent to Rs 1,646.50 from Rs 1,661.80. Nestle India (NESTLEIND), which fell 7.76 per cent on Thursday after its results, slipped a further 0.91 per cent to Rs 1,264.20 from Rs 1,275.80. 

Broader Markets and Sectoral Indices 

Among broader indices, early NSE data showed the Nifty 100 up 0.12 per cent at 24,014.35, the Nifty India FPI 150 up 0.10 per cent at 1,483.15 and the Nifty 200 up 0.06 per cent at 13,282.90. The Nifty Midcap 50 fell 0.27 per cent to 16,910.20, while the Nifty Midcap 150 and the Nifty Smallcap 250 each lost 0.20 per cent to 21,712.25 and 17,592.50.  

The India VIX, the market’s fear gauge, rose 2.08 per cent to 14.32, while the Nifty Bank index was nearly flat at 55,807.50 and the Nifty Private Bank index was unchanged at 27,679.75.  

In the sectoral space, the Nifty IT index led the gainers with a rise of 1.38 per cent to 31,145.20 from 30,719.80, followed by the Nifty Media index, up 0.69 per cent at 1,628.30, and the Nifty Metal index, up 0.31 per cent at 12,056.15. The Nifty Oil and Gas index was the biggest loser, down 0.51 per cent at 10,550.00, followed by the Nifty Realty index, down 0.48 per cent at 824.75, and the Nifty Auto index, down 0.37 per cent at 25,480.65. 

Asian Markets 

Asian markets traded firmly higher on Friday morning, led by South Korea’s Kospi, up 3.14 per cent, or 174.35 points, at 5,728.57, and Japan’s Nikkei 225, up 1.75 per cent, or 1,124.73 points, at 65,550.68. Taiwan’s index added 1.15 per cent to 47,510.54, Hong Kong’s Hang Seng climbed 1.3 per cent to 24,376.00, Singapore’s Straits Times gained 0.82 per cent to 5,447.93, Australia’s ASX 200 rose 0.9 per cent to 8,798.60 the Shanghai Composite advanced 0.8 per cent to 3,736.96, the Shenzhen Component rose 0.78 per cent to 11,909.39 and the SGX-CNBC China Growth index added 1.1 per cent to 1,408.98. New Zealand’s NZX 50 fell 0.61 per cent to 13,748.37 and Malaysia’s index lost 0.58 per cent to 1,614.25, making them the main laggards. 

US Markets 

Wall Street ended higher on Thursday as investors rotated out of the technology sector into defensive plays, Treasury yields tumbled and sentiment stabilised. The Dow Jones Industrial Average gained 1.08 per cent, or 556.21 points, to 52,177.69, the S&P 500 rose 0.33 per cent to 7,744.06 and the Nasdaq Composite edged up 0.08 per cent to 26,713.03. The NYSE Composite advanced 0.84 per cent to 24,066.65 and the Russell 2000 climbed 1.38 per cent to 2,767.27, the Dow Jones Transportation Average added 1.4 per cent to 20,106.68 and the Dow Jones Utility Average rose 0.1 per cent to 1,066.50, while the Nasdaq 100 was the lone decliner, slipping 0.05 per cent to 29,935.60. 

Oil Prices 

Oil prices are easing but remain elevated, with Brent crude down 0.42 per cent, or USD 0.44, at USD 105.48 per barrel and West Texas Intermediate down 0.67 per cent, or USD 0.66, at USD 97.31. Murban crude, the UAE benchmark, slipped 0.87 per cent to USD 109.97, while the OPEC basket stood at USD 111.60, down 0.62 per cent, on a one-day delay. Brent has stayed above USD 100 per barrel, keeping India’s import bill, inflation and the rupee in focus. Heating oil fell 1.60 per cent to 4.768 and gasoline slipped 0.95 per cent to 3.150, according to OilPrice.com data on a short delay. 

Middle East Conflict 

Iran and the groups it arms have launched at least 135 drone and missile attacks on at least 84 infrastructure sites across the Gulf since the US and Israel began bombing Iran on February 28, a Reuters investigation found. Fujairah port in the UAE has been struck at least 19 times, two cold boxes at Qatar’s Ras Laffan LNG facility, which threatened nearly 20 per cent of the world’s liquefied natural gas flows, were hit, and a September 10 attack on the Saudi East-West Pipeline suspended crude flows there, threatening up to 4 per cent of global oil supply. An October 10 attack on King Khalid International Airport in Saudi Arabia, claimed by the Iran-backed Houthis, killed at least 13 people. Gulf officials have called for a peace deal that addresses Iran’s drone and missile programmes, while Iran’s blockade of the Strait of Hormuz gives it leverage in negotiations with the US. 

Thursday’s Close 

The Sensex surged 1,533.72 points, or 2.11 per cent, to settle at 74,315.61 on Thursday, while the Nifty 50 advanced 374.65 points, or 1.66 per cent, to end at 22,997.35, their biggest single-day gains in four months. The Sensex traded between 72,896.38 and 74,330.29, closing just 14.68 points short of the day’s high, and the Nifty 50 moved between 22,637.40 and 23,056.40. Tech Mahindra rose 4.75 per cent to Rs 1,650.00, with ICICI Bank, Bharti Airtel, HCL Technologies and Reliance Industries also among the gainers, while Nestle India fell 7.76 per cent to Rs 1,275.80 on the day it reported its September-quarter results, and Trent, Adani Enterprises, Shriram Finance and Larsen & Toubro also ended lower. Market breadth remained negative, with 2,606 shares declining against 1,592 advancing and 162 unchanged. 

Sources

•  Gift Nifty
• NSE data
• BSE
• Reuters
• CNBC
• OilPrice.com