Pre-Market Update: GIFT Nifty Signals Over 90-Point Gain; Asian Markets Rise as Crude Oil Eases Marginally

Pre-Market Update at 7:40 AM: GIFT Nifty indicated a positive start for domestic equities on October 29, 2026. At 22,792 at 7:01 AM IST, it was 93.15 points, or 0.41 per cent, above the previous Nifty 50 close of 22,698.85. The indication follows a mildly weaker domestic session, while overnight U.S. equities closed higher and Asian markets traded broadly firm. Crude oil prices eased marginally but remained above USD 100 per barrel, a key consideration for India as a major oil importer.

Wall Street ended modestly higher in the previous session. The Dow Jones Industrial Average rose 0.19 per cent to 52,475.10, while the S&P 500 gained 0.28 per cent to close at 7,743.98. The Nasdaq advanced 0.27 per cent to 26,549.85.

Asian equities were largely positive in early trade. Japan’s Nikkei rose 1.10 per cent, while the Shanghai Composite gained 0.91 per cent. Hong Kong’s Hang Seng was up 0.23 per cent, indicating broadly constructive regional market cues. European markets recorded a mixed-to-positive close, with Germany’s DAX rising 0.44 per cent and the FTSE 100 adding 0.07 per cent, while France’s CAC 40 remained largely unchanged.

Brent crude was trading at USD 114.40 per barrel as of 7:02 AM IST, down 0.86 per cent. West Texas Intermediate (WTI) crude eased 0.98 per cent to USD 101.83 per barrel. While the marginal decline may offer some relief, elevated crude prices remain relevant for India’s import bill and could keep oil marketing companies, aviation firms and other fuel-intensive businesses in focus.

In precious metals, gold slipped 0.14 per cent to USD 4,061.58, while silver edged up 0.13 per cent to USD 54.05. The Dollar Index was marginally lower at 102.16, down 0.04 per cent. The Indian rupee was trading around Rs 95.21 per USD, unchanged from its previous level.

The U.S. 10-year Treasury yield declined by 0.018 percentage points to 5.003 per cent. Movements in U.S. bond yields remain relevant for global risk appetite and equity valuations, as investors assess their potential implications for financial conditions and market sentiment.

Foreign institutional investors (FIIs) were net buyers of Indian equities worth Rs 871.83 crore on October 27. Domestic institutional investors (DIIs) also remained net buyers, purchasing equities worth Rs 643.35 crore. Simultaneous buying by foreign and domestic institutions provides a supportive recent flow backdrop, although activity in a single session does not establish a sustained trend.

In the previous session on October 28, the Nifty 50 closed at 22,698.85, down 50.90 points or 0.22 per cent. The index moved between an Intraday low of 22,497.70 and a high of 22,778.05. The BSE Sensex declined 352.64 points, or 0.48 per cent, to settle at 73,246.03, after touching an intraday high of 73,525.44 and a low of 72,603.57. India VIX eased 0.98 per cent to 16.24, indicating relatively contained volatility expectations compared with the preceding session.

The domestic market’s opening setup on October 29 will be shaped by GIFT Nifty’s positive indication, firm Asian equity markets and the gains recorded on Wall Street. However, crude oil prices above USD 100 per barrel, the rupee’s level near Rs 95.21 per USD and movements in U.S. Treasury yields are likely to remain key factors for investors through the session.

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

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