GIFT Nifty indicates weak opening on negative global cues
GIFT Nifty:
GIFT Nifty November 2026 futures were down 52.50 points, signalling a weak opening for the Nifty 50.
Institutional Flows:
Foreign portfolio investors (FPIs) sold shares worth Rs 943.60 crore, while domestic institutional investors (DIIs) were net buyers of Rs 1,924.41 crore in the Indian equity market 29 October 2026, according to provisional data.
FPIs sold shares worth Rs 47,269.54 crore in October through 29 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 fell 155 points, signalling a weak opening for US stocks.
Asian equities came under pressure on Friday, as concerns over the returns on artificial intelligence investments triggered fresh selling in technology stocks. Investors were also cautious ahead of the Bank of Japan's monetary policy decision.
US stocks ended lower on Thursday, as disappointing technology earnings and concerns over AI investment returns weighed on investor sentiment. The Dow Jones Industrial Average declined 132.54 points, or 0.25%, to 52,342.56. The S&P 500 fell 23.59 points, or 0.30%, to 7,720.39, while the Nasdaq Composite dropped 365.13 points, or 1.38%, to 26,184.72.
Alphabet shares plunged 12.64% on Thursday, marking their worst daily decline on record, after its third-quarter revenue missed market expectations. Revenue increased 25% year on year to $127.58 billion, against the analyst estimate of $127.97 billion. Earnings per share stood at $2.12, below expectations of approximately $2.94.
Google Cloud revenue surged 103% to $30.7 billion, but concerns over heavy AI-related capital expenditure and the returns from these investments overshadowed the growth.
ServiceNow and Fortinet also faced heavy selling following their financial updates. Both stocks declined more than 20%, adding to pressure on the technology sector.
After the US market close, Intel shares plunged more than 17% in extended trading after the company issued a weaker-than-expected outlook. Intel reported third-quarter revenue of $16.5 billion, up 21% year on year, and non-GAAP earnings per share of $0.52. It forecast fourth-quarter revenue of $15 billion to $16 billion and non-GAAP earnings per share of $0.25.
Amazon shares fell more than 5% in extended trading despite strong cloud growth. Third-quarter net sales increased 12% to $201.94 billion, while AWS revenue rose 39% to $46 billion. Operating income increased to $28.08 billion from $17.42 billion a year earlier.
However, trailing 12-month free cash flow turned negative at $42.36 billion, compared with positive free cash flow of $14.79 billion a year earlier. Amazon maintained its 2026 capital expenditure forecast of approximately $220 billion. Its fourth-quarter revenue guidance of $240 billion to $247 billion also disappointed investors.
The US economy expanded at an annualised rate of 3.4% in the third quarter of 2026, according to the advance estimate released by the Bureau of Economic Analysis on Thursday. This compared with growth of 2.2% in the second quarter and exceeded the approximately 3% market forecast.
Consumer spending rose at a 3.8% annualised rate, while business investment also contributed to growth. Investment in information-processing equipment increased sharply, reflecting continued spending on AI-related infrastructure. The GDP figure is preliminary and subject to revision.
Meanwhile, the Personal Consumption Expenditures (PCE) price index, the Federal Reserve's preferred inflation gauge, increased 0.5% month on month in September, compared with 0.3% in August. Annual inflation accelerated to 3.6% from 3.4%.
Core PCE inflation, excluding food and energy, rose 0.3% month on month and 3.1% year on year, compared with 3.0% in August. The monthly increases were in line with market expectations.
Personal consumption expenditure increased 0.5% in September, while real consumer spending was unchanged. The data indicated that inflationary pressures remained elevated despite resilient economic growth.
Domestic Market:
The key equity indices ended sharply higher on Thursday, snapping a two-session losing streak. Buying across sectors, led by IT and banking stocks, lifted sentiment after the US Federal Reserve kept interest rates unchanged. Buying by foreign portfolio investors (FPIs) on Wednesday also boosted investor confidence. The Nifty closed above 22,900, while the Nifty MidCap and SmallCap indices gained around 0.6% each. All NSE sectoral indices ended higher except the Nifty Auto and Nifty Cement indices.
The S&P BSE Sensex surged 905.01 points or 1.24% to 74,151.04. The Nifty 50 index jumped 237.90 points or 1.05% to 22,936.75. In the past two consecutive trading sessions, the Sensex and the Nifty dropped 0.49% and 0.24%, respectively.
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