Stock Market Open Report Today, October 9, 2026: Sensex, Nifty Open Higher as Trump Rules Out Iran Attack Before November, Oil Eases; IT Sector Leads Market Rally

Mumbai, Oct 9: Indian benchmark indices opened higher on Friday after President Donald Trump said the US will not attack Iran before the November 3 midterm elections, citing productive talks. Tehran, however, says it will not give up uranium enrichment, so the relief rests on a pause rather than a deal. 

Oil is lower but still elevated. Brent crude fell 0.98 per cent to 103.26 dollars a barrel and West Texas Intermediate dropped 0.82 per cent to 90.74 dollars, leaving Brent above 100 dollars, a key cost and inflation risk for India. 

The BSE Sensex was up 285.01 points, or 0.40 per cent, at 71,878.25 at 9:25 am, while the NSE Nifty 50 gained 114.40 points, or 0.51 per cent, to 22,346.20 at 9:27 am. Both indices had fallen sharply on Thursday, when the Sensex lost 1,045.46 points and the Nifty 371.25 points. 

The corporate earnings season has begun on a firm note. TCS reported a 15 per cent rise in September-quarter net profit to Rs 13,884 crore, and IT stocks led the rebound, with TCS up 3.82 per cent and the Nifty IT index up 2.82 per cent.

Volatility is easing but the market remains under strain. The India VIX fell 3.97 per cent to 14.67, yet the Nifty is still down about 4.75 per cent over 30 days and sits about 0.75 per cent above its 52-week low of 22,179.90. 

Top Gainers and Losers 

Among Nifty constituents, TCS (TCS) was the top gainer, rising 3.82 per cent to a last traded price (LTP) of Rs 2,155.30 from the previous close of Rs 2,076.00, a gain of Rs 79.30 per share. HCL Technologies (HCLTECH) gained 3.02 per cent to Rs 1,212.50 from Rs 1,176.90, up Rs 35.60, Apollo Hospitals (APOLLOHOSP) rose 2.47 per cent to Rs 7,855.50 from Rs 7,666.00, up Rs 189.50, Infosys (INFY) added 2.37 per cent to Rs 1,020.60 from Rs 997.00, up Rs 23.60, and Max Healthcare (MAXHEALTH) climbed 2.33 per cent to Rs 893.75 from Rs 873.40, up Rs 20.35. The gains ranged from 2.33 per cent to 3.82 per cent, with Apollo Hospitals posting the biggest rupee gain at Rs 189.50 per share, and IT stocks dominated the list as the Nifty IT index rose 2.82 per cent.  

On the losing side, BSE (BSE) fell 1.20 per cent to Rs 3,294.90 from Rs 3,334.80, down Rs 39.90, Reliance Industries (RELIANCE) declined 0.85 per cent to Rs 1,168.00 from Rs 1,178.00, down Rs 10.00, Coal India (COALINDIA) lost 0.81 per cent to Rs 406.05 from Rs 409.35, down Rs 3.30, Bharat Electronics (BEL) slipped 0.74 per cent to Rs 364.60 from Rs 367.30, down Rs 2.70, and JSW Steel (JSWSTEEL) eased 0.49 per cent to Rs 1,169.50 from Rs 1,175.20, down Rs 5.70. The five losers fell between 0.49 per cent and 1.20 per cent, a much shallower decline than the gains on the other side. 

Broad Markets and Sectoral Indices 

The broader market was mostly positive. The Nifty Midcap 100 index rose 0.56 per cent to 58,205.80, the Nifty Midcap 50 gained 0.51 per cent to 16,614.60 and the Nifty Midcap 150 added 0.49 per cent to 21,414.90. On the losing side, the Nifty Smallcap 100 fell 0.15 per cent to 19,021.50, the Nifty Smallcap 50 dropped 0.13 per cent to 9,474.00 and the Nifty Smallcap 250 declined 0.03 per cent to 17,483.00.  

Among sectors, the Nifty IT index led with a 2.82 per cent gain to 28,519.25, followed by the Nifty FMCG index, up 0.97 per cent at 44,324.35, and the Nifty Media index, up 0.60 per cent at 1,543.65. The Nifty Energy index fell 0.40 per cent to 35,507.25, the Nifty Oil & Gas index lost 0.29 per cent to 10,324.55 and the Nifty Metal index declined 0.11 per cent to 11,857.55. The Nifty Bank index rose 0.31 per cent to 54,684.20 and the Nifty Private Bank index gained 0.39 per cent. 

Middle East Conflict 

Trump said on Thursday that the US will not attack Iran before the November 3 midterm elections, in a post on Truth Social, adding that the two countries are having productive discussions about ending the six-month-old war. The war, which began in February with US and Israeli strikes, has driven down Trump’s approval ratings and is weighing heavily on Republicans seeking to preserve their narrow legislative majorities, with 60 per cent of Americans, including one in four Republicans, disapproving of his handling of it in a Reuters/Ipsos poll. Iranian state media said Tehran will not abandon uranium enrichment or hand over its uranium stockpile, days after US Vice President JD Vance said Iran must make meaningful cuts to its enrichment capacity. The US and Iran have exchanged proposals to end the war and reopen the Strait of Hormuz, but Trump has rejected Tehran’s latest offer and has not set out a detailed plan to exit the war. 

Asian Markets 

Asian markets were mixed on Friday morning. Hong Kong’s Hang Seng gained 1.05 per cent to 24,036.14 and Australia’s ASX 200 rose 0.47 per cent to 8,701.40, while Malaysia’s index and New Zealand’s NZX 50 added 0.21 per cent and 0.14 per cent. South Korea’s Kospi fell 2.62 per cent to 6,625.93, China’s Shenzhen index dropped 2.16 per cent and the Shanghai Composite lost 1.02 per cent to 3,772.92, while Taiwan’s index slipped 0.99 per cent and Japan’s Nikkei declined 0.83 per cent to 68,470.33. Singapore’s Straits Times eased 0.50 per cent to 5,385.95, and Thailand’s SET was unchanged at 1,570.61. 

US Markets 

Wall Street ended mixed on Thursday, with technology stocks under pressure. The Nasdaq fell 1.25 per cent to 27,193.34, the Nasdaq 100 lost 1.39 per cent to 30,725.81 and the S&P 500 declined 0.47 per cent to 7,765.36, while the Dow Jones Industrial Average edged up 0.10 per cent to 51,231.64 and the NYSE Composite added 0.40 per cent to 23,797.60. The transport index rose 1.43 per cent, the Russell 2000 gained 0.03 per cent, utilities slipped 0.17 per cent and the VIX, the fear gauge, rose 2.19 per cent to 15.41. 

Oil Prices 

Crude oil prices eased in early trade on Friday but remain elevated. Brent crude declined 0.98 per cent, or 1.02 dollars, to 103.26 dollars a barrel, while West Texas Intermediate dropped 0.82 per cent, or 75 cents, to 90.74 dollars. Murban crude bucked the trend, rising 3.54 per cent to 110.47 dollars, and natural gas fell 1.07 per cent to 3.134 dollars. Trump has repeatedly said he expects oil prices to drop after the elections, although the Iran conflict has pushed gasoline prices sharply higher in the US at a time when voters say their top concern is the cost of living. 

Indian Markets on Thursday 

Indian equity benchmarks tumbled on Thursday, extending losses from the previous session as selling spread across sectors and market capitalisation segments, with the Sensex down 1,045.46 points, or 1.44 per cent, at 71,593.24 and the Nifty 50 down 371.25 points, or 1.64 per cent, at 22,231.80. Breadth was decisively negative, with 3,280 shares declining, 951 advancing and 180 unchanged, while the Nifty Midcap and Smallcap indices shed more than 2 per cent each. All major sectoral indices ended lower, with Nifty Auto, Energy, FMCG, Infrastructure, Media, Metal, Oil & Gas, Pharma and Realty falling between 2 per cent and 3 per cent. Adani Enterprises (ADANIENT) was the biggest Nifty 50 loser, followed by JSW Steel (JSWSTEEL), Max Healthcare (MAXHEALTH), ITC (ITC) and InterGlobe Aviation (INDIGO), while Reliance Industries (RELIANCE) and ICICI Bank (ICICIBANK) fell 2.5 per cent and 0.6 per cent respectively, and Infosys (INFY), Axis Bank (AXISBANK) and HCL Technologies (HCLTECH) were among the few gainers. 

Sources

• NSE
• BSE
• Reuters
• www.cnbc.com
• www.oilprice.com