GIFT Nifty Signals Flat-to-Positive Start; US Sanctions Relief on Russian Oil, Major Bank Results and FII Inflows Among Key Triggers
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The US administration has waived key sanctions, restrictions and duties under the Lindsey O. Graham Sanctioning Russia and Iran Act of 2026. The provisions included potential tariffs of up to 100 per cent on goods imported from major buyers of Russian oil and gas, including India.
✨ Key Takeaways
GIFT Nifty at 23,125 at 7:37 AM indicated a positive opening for domestic equities, as it is trading up by 30 points. With Indian equity markets closed on Tuesday, October 20, for Dussehra, the Nifty's weekly options expiry has been advanced to Monday, October 19. The expiry could lead to increased volatility as the session progresses, particularly in the second half.
Meanwhile, the Asian markets presented a mixed picture in early trade. Japan’s Nikkei was down 1.28 per cent at 64,490.93, while Hong Kong’s Hang Seng rose 0.52% to 24,186.83 and the Shanghai Composite dipped 0.38% to 3,702.
Key Triggers to Watch for Indian Markets on October 19, 2026
US Waives Russia-Oil Sanctions Provisions for India
The US administration has waived key sanctions, restrictions and duties under the Lindsey O. Graham Sanctioning Russia and Iran Act of 2026. The provisions included potential tariffs of up to 100 per cent on goods imported from major buyers of Russian oil and gas, including India.
US Secretary of State Marco Rubio said the administration would use up to 60 days to assess the economic implications of imposing the measures. The executive order allows the waivers to remain effective until further action is considered. Existing sanctions outside the scope of the order remain unaffected.
The decision temporarily reduces the threat of additional US tariffs linked to India's purchases of Russian energy.
Private-Bank Earnings Set the Tone: HDFC Bank, ICICI Bank and Axis Bank Q2FY27 Results.
Quarterly Results from large private banks will be closely watched after HDFC Bank, ICICI Bank and Axis Bank reported profit growth for the September quarter. HDFC Bank’s net profit rose 4.7 per cent year-on-year to Rs 19,510 crore, ICICI Bank’s profit increased 20 per cent to Rs 14,843 crore, while Axis Bank reported a 38% increase to Rs 7,003 crore.
Financial stocks carry substantial weight in the benchmark indices, making management commentary on credit growth, margins and asset quality important for the broader market setup.
Institutional Flows: FIIs Turn Net Buyers
On Friday, Foreign institutional investors were net buyers of Indian equities worth Rs 1,165.92 crore, while domestic institutional investors were net sellers of Rs 3,661.28 crore.
Foreign flows will remain under watch after FIIs sold Indian equities worth Rs 8,990 crore in the week ended October 16, taking October net outflows to Rs 48,769 crore.
Crude Oil Prices Cool-off
Brent crude traded at USD 108.33 per barrel as of 7:00 AM IST on October 19, down 1.46 per cent, while WTI crude declined 1.34 per cent to USD 99.57 per barrel. Oil prices retreated from recent highs amid expectations that the Trump administration’s waiver of certain Russia-related sanctions could ease supply constraints and allow more Russian oil to reach global markets.
Earnings Calendar Picks Up Pace: Over 200 Stocks to Report Earnings This Week
More than 200 companies are scheduled to report September-quarter earnings this week, including Bajaj Finance, UltraTech Cement, Eternal, Dr Reddy’s Laboratories, Infosys, JSW Steel, Shriram Finance and Kotak Mahindra Bank.
The results calendar spans financials, IT, cement, metals, pharma, consumer and industrial companies, which could lead to sector-specific moves as earnings figures and outlooks emerge.
IPO Activity Remains Heavy: Zetwerk Manufacturing Business and Jio IPO
Subscription for Zetwerk Manufacturing Business, Sahajanand Medical Technologies, Bonfiglioli Transmissions, Tonbo Imaging India and SME issuer Shellz India closes on October 19. These companies are scheduled to list on October 23.
The primary market activity will be monitored for subscription momentum and its potential effect on secondary-market liquidity, particularly ahead of the Jio Platforms IPO launch scheduled for October 21.
Global Market Cues: US Market on Friday
US equities ended lower in the previous session, led by technology shares. The Nasdaq declined 2.14% to 26,140.03, the S&P 500 fell 1.09% to 7,659.44 and the Dow Jones Industrial Average slipped 0.34% to 52,002.41.
European markets had ended higher in the previous session. Germany’s DAX advanced 0.95%, the FTSE 100 rose 0.38% and France’s CAC 40 gained 0.28%.
Gold and Silver
Gold edged up 0.15 per cent to USD 4,171.57, while silver gained 0.83 per cent to USD 57.45.
Disclaimer: The article is for informational purposes only and not investment advice.