Global Markets Today, October 21, 2026: Asian Markets Rise, Wall Street Mixed; Crude Oil Above $110

Mumbai, October 21: Indian equity benchmarks Sensex and Nifty 50 are likely to open higher on Wednesday, October 21, tracking gains across Asian markets and positive cues from Wall Street, although elevated crude oil prices and persistent geopolitical tensions could limit the upside. The local benchmarks had snapped their two-day winning streak in the previous session. 

The market will also track the ongoing September-quarter earnings season, with investors assessing whether corporate results can sustain the recent recovery in global equities amid concerns over oil prices, borrowing costs and technology valuations. 

Asian Markets Rally on Earnings Optimism 

Asian equities advanced on Wednesday, supported by gains on Wall Street as early corporate earnings reports pointed to stronger-than-expected performances. The MSCI index of Asia-Pacific shares outside Japan climbed 1.16%, while South Korea’s benchmark Kospi surged 3.6% and Japan’s Nikkei 225 gained 1.17%. 

US equity futures also pointed to further gains, with S&P 500 e-mini futures rising 0.4%. The upbeat sentiment followed a session in which investors drew encouragement from corporate earnings, with 86% of the S&P 500 companies that had reported results beating estimates, according to LSEG data. 

Japan’s exports rose 16.7% year-on-year in September, supported by demand for semiconductors and artificial intelligence-related products, although the increase fell short of market expectations. 

Wall Street Mixed as Technology Stocks Face Pressure 

US markets ended Tuesday’s session on a mixed note as investors weighed encouraging corporate results against renewed weakness in artificial intelligence-linked stocks and uncertainty surrounding the cost of financing the sector’s expansion. 

The S&P 500 rose 0.3% to 7,712.57, while the Dow Jones Industrial Average advanced 1% to 52,495.88. The Nasdaq Composite, however, edged lower by less than 0.1% to 26,424.82 as losses in major technology stocks offset broader gains. 

Investors awaited results from major technology companies, including Tesla and Meta Platforms. The earnings announcements are expected to provide further clues about corporate spending, profitability and the sustainability of the AI investment cycle. 

Crude Oil Near Five-Month High 

Oil prices remain a key concern for Indian markets. Brent crude rose 1.4% to $110.3 a barrel in Asian trading on Wednesday, extending gains after touching a five-month high during Tuesday’s volatile session. US West Texas Intermediate crude also remained elevated amid concerns about supply disruptions. 

Geopolitical risks, including continued Houthi attacks on Saudi infrastructure and reports of vessel attacks in the Gulf, have sustained the risk premium in oil prices despite intermittent hopes of diplomatic progress in the Middle East. 

What to Expect From Indian Markets 

Elevated crude prices remain a headwind for India, a major oil importer, as they threaten to increase the import bill, stoke inflationary pressures and weigh on corporate margins. Investors will therefore monitor oil prices alongside domestic earnings and foreign fund flows. 

While strong Asian cues and gains in US equities could support a higher opening, volatility may persist as investors balance earnings optimism against geopolitical uncertainty and expensive energy imports. 

Source

•  Exchanges