GIFT Nifty Indicates Flat to Cautious Start; Global Cues Mixed as Investors Eye Q3 Earnings

Mumbai, October 10: The Indian stock market and the included indices are expected to open on a flat yet cautious tone today, on October 10. The muted sentiment is indicated by Gift Nifty, which is marginally up by 0.175, or 42.00 points, and is trading at 25,264.50, as of 8:30 AM.

US Markets Lower While Asian Markets Mixed

Wall Street slipped overnight as investors booked profits ahead of the Q3 earnings season. The Dow Jones fell 0.52% to 46,358.42, S&P 500 dropped 0.28% to 6,735.11, and Nasdaq dipped 0.08% to 23,024.63. In Asia-Pacific, markets opened mixed after a strong rally earlier in the week. The Topix index was down 0.99%, while the Nikkei is up about 4.1% month-to-date and Hang Seng is up about 1.47% MTD.

On the currency and commodities front, the US Dollar Index was strong and above 99.36, marking its highest level in over two months. US bond yields eased, as the 10-year Treasury traded near 4.13%, while the 2-year around 3.58%. Crude oil prices rebounded, while gold extended its gains and silver crossed USD 50 per ounce, reaching its multi-decade highs.

FIIs Continue Their Buying Streak

Foreign Institutional Investors (FIIs) continued their buying streak for the third straight session yesterday, on October 9. They bought Indian equities worth ₹1,308 crore. On the other hand, Domestic Institutional Investors (DIIs) also remained net buyers, and bought Indian equities worth ₹864 crore.

Flat Opening Expected

As indicated by Gift Nifty, along with mixed global signals, the stock market is expected to open flat today. Investors will be watching corporate earnings announcements for individual cues.

As of this morning, GIFT Nifty’s movement suggests a quiet but watchful start to Friday’s session, with sentiment likely guided by quarterly results and global risk cues.

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