Gift Nifty Points to Lower Open for Sensex, Nifty

Mumbai, Oct 1: Nifty is headed for a lower opening on Thursday, with Indian markets likely to start the session in the red at 9.15 am. 

This points to a likely gap-down opening, driven by Wednesday’s losses in metal and pharmaceutical stocks, elevated crude oil prices through the week, and the continuing war between the US and Iran, which has kept investor sentiment on edge heading into the new month. 

Gift Nifty Down

The Gift Nifty futures contract expiring October 27 was quoted at 22,576.50 as of 7.51 am IST on Thursday, down 79 points, or 0.35 per cent, from its previous close. The contract’s slide below the 22,600 mark comes after the Nifty settled at 22,620.45 on Wednesday, reinforcing the case for a weak start to trade when markets open at 9.15 am. 

Iran Says It Received US Response 

Iran said on Wednesday it had received a US response to its latest proposal to revive the collapsed Gulf ceasefire, days after Trump said he had rejected it. The development coincided with Washington withdrawing its last troops from Iraq, a pullout Iran-aligned forces hailed as a victory against US influence in the region. Qatari mediators briefed Iran’s foreign minister Abbas Araqchi on the US response during a stopover in Doha this week, though the two sides still disagree on the sequencing of steps needed to restore the deal. Shipping through the Strait of Hormuz has picked up in recent weeks despite the war, though flows of crude, refined products and natural gas remain substantially disrupted. 

Asian Stocks Mostly Higher 

Asian markets were mostly higher on Thursday morning, led by Japan’s Nikkei 225, which jumped 2.23 per cent to 68,244.21, while Hong Kong’s Hang Seng added 0.37 per cent to 24,613.27. Mainland China’s Shanghai Composite rose 0.31 per cent, even as the Shenzhen Component slipped 0.11 per cent and Australia’s ASX 200 fell 1.59 per cent. Taiwan edged up 0.06 per cent and Singapore’s Straits Times index added 0.08 per cent, while South Korea’s Kospi eased 0.08 per cent and Thailand’s SET index was unchanged. New Zealand’s NZX 50 lagged the region, down 0.88 per cent, while Malaysia’s benchmark declined 0.42 per cent. 

US Markets End Mostly Lower 

US markets ended mostly lower on Wednesday, with the NYSE Composite down 0.92 per cent to 23,490.80 and the Dow Jones Transportation Average falling 1.37 per cent to 19,382.09. The Russell 2000 slipped 0.39 per cent and the Utility index eased 0.59 per cent, reflecting broad-based caution across sectors. The Nasdaq 100 was the lone gainer among the major gauges, adding 0.23 per cent to 30,408.502. 

Oil Prices Steady, Ease Slightly 

Oil prices steadied and eased slightly on Thursday morning, with Brent crude down 0.18 per cent at 97.85 dollars a barrel and West Texas Intermediate crude off 0.40 per cent at 90.07 dollars. The Opec Basket price fell 1.99 per cent to 109.53 dollars and natural gas eased 1.09 per cent, even as Murban crude rose 1.37 per cent and heating oil gained 1.2 per cent. The softer moves came even as the US-Iran war stretched into an eighth month, with shipping through the Strait of Hormuz still substantially disrupted. Gasoline edged up 0.16 per cent and WTI Midland added 1 per cent, underlining uneven moves across the energy complex. Oil prices are critical for India, which imports more than 85 per cent of its crude requirement and is acutely exposed to swings in global energy costs. Elevated or volatile crude widens the import bill, pressures the rupee and stokes inflation, weighing on corporate earnings and investor sentiment. 

Sensex, Nifty Close Lower 

The Sensex closed 48.78 points, or 0.07 per cent, lower at 72,480.29 on Wednesday, while the Nifty fell 95.75 points, or 0.42 per cent, to 22,620.45, after failing to hold early gains through a volatile session. Losses in metal and pharmaceutical stocks, down more than 1 per cent each, dragged on the Nifty, even as buying in PSU banks, private banks, realty and media stocks cushioned the decline. Market breadth on the NSE stayed marginally negative, with 2,051 shares advancing against 2,135 declining, while the Nifty Midcap index ended flat and the Nifty Smallcap index added 0.2 per cent. ICICI Bank (ICICIBANK), Kotak Mahindra Bank (KOTAKBANK), InterGlobe Aviation (INDIGO), Wipro (WIPRO) and Tech Mahindra (TECHM) were the top Nifty gainers, while Max Healthcare (MAXHEALTH), Apollo Hospitals (APOLLOHOSP), SBI Life Insurance (SBILIFE), Eternal (ETERNAL) and ONGC (ONGC) were the biggest losers.

Source

• nseix.com
• https://www.reuters.com/world/us/iran-appeals-us-voters-american-troops-leave-iraq-2026-09-30/
• www.oilprice.com
• www.cnbc.com