GIFT Nifty points to weak start as global cues remain cautious
GIFT Nifty:
GIFT Nifty October 2026 futures were down 29 points, indicating a negative opening for the Nifty 50 amid weak global cues.
SEBI's board on Thursday approved a series of measures covering portfolio managers, foreign portfolio investors, REITs and InvITs. The regulator approved a comprehensive overhaul of the portfolio manager framework and allowed portfolio managers to invest in initial public offerings and primary market debt issuances. It also approved wider participation by foreign portfolio investors in physically settled, non-agricultural commodity derivative contracts. In addition, REITs and publicly listed InvITs will be permitted to issue depository receipts in permissible overseas jurisdictions.
Institutional Flows:
Foreign portfolio investors (FPIs) sold shares worth Rs 5,027.36 crore, while domestic institutional investors (DIIs) were net buyers to the tune of Rs 4,301.18 crore in the Indian equity market on 24 September 2026, according to provisional data.
FPIs sold shares worth Rs 21064.46 crore in September so far, through 24 September 2026. This follows net cash purchases of Rs 17,366 crore in August 2026, while they were net buyers of Rs 6,731.97 crore in July 2026.
Global Markets:
Most Asian stocks traded lower on Friday, tracking a mixed close on Wall Street as a sharp rise in US Treasury yields kept investors cautious. Markets in China and South Korea were closed for a holiday.
US stocks ended mixed on Thursday. The Dow Jones Industrial Average fell for a third straight session as Treasury yields rose. The Dow declined 161.61 points, or 0.31%, to 51,349.98, while the S&P 500 eased 0.02% to 7,704.13. The Nasdaq Composite rose 0.01% to 26,939.37.
US Treasury yields climbed to multi-year highs amid concerns that elevated energy prices could keep inflation under pressure. The 30-year Treasury yield touched 5.501%, its highest since June 2004, while the 10-year yield rose to 5.223%, its highest since June 2007.
Crude oil prices eased on Friday after rising sharply in the previous session. Brent crude futures fell 0.54% to $106.02 a barrel after gaining about 3% on Thursday. The previous session's rise followed concerns over potential supply disruptions after a Houthi missile attack on Saudi Arabia.
Investors also monitored developments from the meeting between US President Donald Trump and Chinese President Xi Jinping in Washington. The leaders discussed trade and artificial intelligence, while the US and China agreed to extend their trade truce by two months. A White House state dinner was also held for Xi on Thursday.
Among individual stocks, Meta Platforms gained about 4.5% after unveiling new AI-powered devices and expanding features linked to its Muse AI agent. Oracle fell about 4.5% after reports that it had issued a force majeure notice related to its New Mexico data centre project.
Domestic Market:
The domestic equity benchmarks ended sharply lower on Thursday, weighed down by surging US Treasury yields, higher crude oil prices and increased expectations of another Federal Reserve rate hike. The Nifty closed below the 23,100 level dragged by banks and financial services stocks. The S&P BSE Sensex tanked 1,247.71 points or 1.67% to 73,580.54. The Nifty 50 index tumbled 383.70 points or 1.64% to 23,063.10.
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