Global Markets Today, October 13, 2026: Asian Shares Tumble, Oil Tops $105 As Indian Markets Face Weak Start

Mumbai, October 13: Indian equity benchmarks are likely to open lower on Tuesday, tracking a sharp sell-off across Asian markets as renewed geopolitical tensions in the Middle East pushed crude oil prices higher and concerns over technology valuations weighed on global risk appetite. A decline in US technology stocks overnight added to the pressure, while investors remained cautious ahead of a busy US corporate earnings calendar and key inflation data. 

Asia Melts Down 

Asian equities came under heavy selling pressure, with MSCI’s broadest index of Asia-Pacific shares outside Japan falling 2.8% in early trade. South Korea’s Kospi plunged 7%, while Japan’s Nikkei 225 dropped 2.5% after returning from a holiday. Technology stocks led the losses as weakness in US chipmakers spilled over into regional markets, with investors reassessing the sustainability of the artificial intelligence-driven rally amid intensifying US-China competition. 

The sharp decline across Asian markets, coupled with elevated crude oil prices, is likely to weigh on sentiment in domestic equities at the opening bell. Higher oil prices are particularly concerning for India, a major crude importer, as they can increase the import bill, put pressure on the rupee, fuel inflation and squeeze corporate margins. The extent of the weakness in Indian markets, however, will also depend on domestic institutional flows and stock-specific developments. 

US Markets Mixed As Technology Stocks Weaken 

On Wall Street, US equities ended mixed on Monday, with losses in technology shares offsetting gains in other sectors. The Nasdaq Composite fell 0.4%, dragged down by semiconductor stocks, while the S&P 500 and Dow Jones Industrial Average recorded divergent moves. US stock futures had been largely muted earlier in the session as investors weighed elevated oil prices against expectations of strong corporate earnings. 

Investors are turning their attention to quarterly results from major US banks, including JPMorgan Chase, Goldman Sachs, Citigroup and Wells Fargo. The results are expected to offer clues about consumer spending, lending growth, dealmaking activity and the impact of higher bond yields on borrowing costs. Inflation data due later this week will also be important in shaping expectations for the Federal Reserve’s interest-rate trajectory. 

Crude Oil Above $105 Keeps Inflation Concerns Alive 

Brent crude futures was at $105.3 a barrel as renewed tensions in the Middle East revived concerns over disruptions to global energy supplies. Attacks on Saudi Arabia and uncertainty surrounding a fragile Russia-Ukraine energy truce have kept markets on edge, despite the prospect of additional Russian diesel supplies. 

Elevated crude prices remain a key headwind for Indian equities, particularly oil-sensitive sectors such as aviation, paints, tyres and other fuel-intensive industries. The combination of falling Asian equities, technology-sector weakness and expensive oil suggests Indian markets could begin Tuesday’s session on a negative note, with investors likely to remain cautious as geopolitical developments and global earnings shape trading sentiment. 

Source

• Exchanges