Global Markets Today, October 9, 2026: Asia, Wall Street Mixed As Oil Elevated; Indian Markets Seen Opening Lower

Mumbai, October 9: Indian equity benchmarks Sensex and Nifty 50 are likely to open lower on Friday, tracking mixed cues from Asian markets and Wall Street as elevated crude oil prices and bond yields and concerns over artificial intelligence (AI) spending weighed on investor sentiment. Persistent uncertainty over Middle East tensions and the outlook for US interest rates could keep investors cautious, with oil prices and foreign fund flows remaining key factors for domestic equities. 

Asian Markets Mixed 

Asian markets traded mixed on Friday as investors assessed rising energy costs, higher borrowing expenses and concerns over the sustainability of AI-related investments. The regional trend followed losses on Wall Street, where technology and semiconductor stocks came under pressure. 

Investors remained cautious amid uncertainty over developments in the Middle East and the potential implications for global oil supplies. The outlook for inflation and interest rates also remained in focus, with higher energy prices threatening to complicate the policy outlook for major central banks. Japan’s Nikkei declined 0.8% while MSCI’s broadest index of Asia-Pacific shares outside Japan edged up 0.2%. South Korea’s Kospi was closed for a holiday. 

Wall Street Ends Mixed, Nasdaq Leads Losses 

US equities ended mixed on Thursday, with the Nasdaq Composite and S&P 500 declining while the Dow Jones Industrial Average edged higher. The S&P 500 fell 0.5%, while the Nasdaq dropped 1.2%, reflecting weakness in technology and semiconductor stocks. 

Chipmakers came under pressure amid concerns over the financing requirements and revenue projections associated with the AI infrastructure boom. Broadcom and Oracle declined 4.4% and 5.5%, respectively. 

The sell-off reflected growing investor scrutiny of valuations, borrowing costs and the ability of technology companies to generate adequate returns from their AI spending. Higher Treasury yields added to the pressure by making equities less attractive and increasing financing costs for businesses. 

Crude Oil Rally Raises Inflation Concerns 

Crude oil prices surged, with Brent futures hovering around $103 per barrel in Asian trading after rising more than 4% in the previous session. Escalating tensions in the Middle East and uncertainty over shipping through the Strait of Hormuz, a key artery for global oil supplies, fuelled concerns over potential disruptions. 

US President Donald Trump said Washington would not attack Iran before the November midterm elections, although uncertainty over the broader geopolitical outlook continued to weigh on sentiment. 

For India, which depends heavily on imported crude oil, elevated prices pose a risk to the import bill, the rupee, inflation and corporate profitability. Aviation, paints and other fuel-intensive sectors could face pressure if crude prices remain elevated, while upstream oil producers may attract investor interest. 

What It Means For Indian Markets 

The combination of falling Asian equities, weakness in US technology stocks and rising crude oil prices points to a cautious start for the Sensex and Nifty 50. Investors will monitor oil prices, global bond yields and foreign institutional investor flows for further direction. 

Sustained high crude prices could complicate India’s inflation outlook and limit the scope for monetary easing, while continued foreign fund outflows may add to selling pressure. Domestic institutional buying and stock-specific developments could provide some support, but a sustained recovery may prove difficult unless global risk appetite improves. 

Source

•  Exchanges