Indian Markets Eye Cautious Start; Infosys & Wipro in Focus Post Q2 Results

Pre-Market Update at 7:30 AM: Equity benchmark indices, Sensex and Nifty 50, are expected to open on a cautious note on Friday, October 17, following weakness in global markets amid rising US-China trade tensions. Trends on the GIFT Nifty indicated a muted start for the Indian markets, with the index trading 37 points higher at 25,605 at 7:15 AM.

In early Asian trades, markets moved lower, while US equities closed in the red overnight as escalating tensions between the US and China dampened investor sentiment. India’s major IT companies Infosys and Wipro announced their Q2 FY26 results yesterday after market hours. Post results, Infosys ADR fell 2.25 per cent on the NYSE, while Wipro ADR gained 1.12 per cent.

Thirteen major companies are set to release their Q2 FY26 results today, including Reliance Industries, JSW Steel, Hindustan Zinc, Polycab India, Dixon Technologies, REC, JSW Energy, Havells India, Oracle Financial Services Software, AU Small Finance Bank, Bank of India, 360 ONE WAM, and LT Technology Services.

On Thursday, October 16, Foreign Institutional Investors (FIIs) were net buyers, purchasing equities worth Rs 997.29 crore for the second consecutive session. Domestic Institutional Investors (DIIs) also remained net buyers, acquiring equities worth Rs 4,076.20 crore, marking their 37th straight session of inflows.

Indian equities extended their gains for the second consecutive session, with the Nifty 50 rising 1.03 per cent to 25,585.30 and the Sensex gaining 1.04 per cent to 83,467.66. The Nifty touched its highest level since June 30, posting its sharpest single-day gain in nearly four months. The rally was led by private banks following Axis Bank’s results, along with support from dovish comments by US Fed Chair Jerome Powell and easing trade concerns over Russian oil imports. Rate-sensitive sectors such as auto and realty rose over 1 per cent, while the Nifty IT index edged higher despite a slight dip in Infosys ahead of its earnings. Broader indices like Nifty Midcap and Smallcap also ended marginally higher. The India VIX climbed over 3 per cent during the session.

On Wall Street, US stocks ended lower as financial shares faced selling pressure amid renewed fears of a credit crisis and escalating trade tensions. The Dow Jones Industrial Average slipped 301.07 points, or 0.65 per cent, to 45,952.24. The S&P 500 declined 41.98 points, or 0.63 per cent, to 6,629.08, while the Nasdaq Composite dropped 107.54 points, or 0.47 per cent, to 22,562.54.

US President Donald Trump and Russian President Vladimir Putin agreed to hold another summit focused on the Ukraine conflict, likely to be hosted in Budapest within two weeks. Federal Reserve Governor Christopher Waller expressed support for another rate cut at the upcoming policy meeting, while Governor Stephen Miran backed deeper rate cuts in future meetings.

Gold continued its strong momentum, heading toward its best weekly gain in 17 years. Spot gold rose 0.9 per cent to USD 4,364.79 per ounce after hitting an all-time high of USD 4,378.69. On the MCX, gold futures settled at Rs 1,29,852 per 10 grams, up 2.08 per cent. The US dollar index remained stable at 98.23 but was on track for its sharpest weekly decline in three months. Crude oil prices fell slightly, with Brent futures easing 0.13 per cent to USD 60.98 per barrel and WTI futures dipping 0.16 per cent to USD 57.37 per barrel.

For today, Sammaan Capital will remain on the F&O ban list.

Disclaimer: The article is for informational purposes only and not investment advice.