GIFT Nifty hints at higher opening after four-day losing streak; DII buying offers support

GIFT Nifty:

GIFT Nifty November 2026 futures were up 41 points, signalling a positive opening for the Nifty 50.

Institutional Flows:

Foreign portfolio investors (FPIs) bought shares worth Rs 887.65 crore, while domestic institutional investors (DIIs) were net buyers of Rs 3,235.36 crore in the Indian equity market 23 October 2026, according to provisional data.

FPIs sold shares worth Rs 53,337.67 crore in October through 23 October 2026. This follows net selling of Rs 45,536.89 crore in September 2026, while FPIs were net buyers of Rs 17,366 crore in August 2026.

Global Markets:

Dow futures rose 120 points, signalling a higher opening for US stocks.

Asian indices traded lower on Monday as investors weighed elevated oil prices, geopolitical risks and a busy week of central bank decisions and corporate earnings.

Brent crude eased below $115 a barrel after hitting a six-month high, offering some relief following last week's surge. The retreat followed reports of diplomatic efforts involving Qatar, Iran and the United States to ease regional tensions.

The regional session followed a lower close on Wall Street on Friday, 23 October, as rising energy costs and concerns over artificial intelligence investment weighed on sentiment. Investors are also preparing for quarterly results from major US technology companies, including Alphabet, Microsoft and Amazon, which could offer fresh insights into AI-related spending and returns.

The Dow Jones Industrial Average fell 652.82 points, or 1.23%, to 52,215.16 on Friday. The S&P 500 declined 39.75 points, or 0.52%, to 7,623.68, while the Nasdaq Composite shed 53.52 points, or 0.21%, to 25,955.34.

Telecommunications stocks came under pressure after reports that SpaceX was exploring plans to launch a fourth US wireless carrier. AT&T and T-Mobile fell nearly 8% each amid concerns over increased competition.

Among individual stocks, Schlumberger gained about 7% following its quarterly results. American Express fell around 3.7% despite reporting higher quarterly profits and raising its full-year earnings forecast. The company also announced plans to cut 5% of its workforce, while its revenue missed market expectations.

On the economic front, the University of Michigan's final consumer sentiment index for October came in at 48.0, compared with 48.1 in September. Although the reading exceeded market expectations, sentiment remained near historically low levels. One-year inflation expectations rose to 4.7% from 4.6%, while five-year expectations increased to 3.5% from 3.4%. Persistent inflation concerns could complicate the Federal Reserve's policy outlook.

Domestic Market:

The key equity benchmarks extended their losing streak to a fourth consecutive session on Friday. Rising crude oil prices, escalating geopolitical tensions and sustained foreign fund outflows weighed on investor sentiment. The Nifty held the 22,600 mark. All sectoral indices ended lower, led by losses in consumer durables, metals, realty, energy and PSU banks. Broader indices also witnessed significant declines, reflecting widespread selling pressure.

The S&P BSE Sensex declined 125.56 points or 0.17% to 72,123.83. The Nifty 50 index lost 87.65 points or 0.39% to 22,600. In the fourth consecutive trading session, the Sensex and Nifty declined 3.49% and 2.36%, respectively.

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