NIFTY50, SENSEX on October 9: US market cues, FII activity, key things to know before markets open

The Indian equity markets are set to open higher indicated by GIFT NIFTY futures. NIFTY futures at GIFT City in Ahmedabad rose 35 points to 25,155 amid mixed global cues. The benchmarks snapped their four-day winning streak on Wednesday dragged down by losses in index heavyweights like Reliance Industries, HDFC Bank, Mahindra & Mahindra, Tata Motors, State Bank of India and Bharat Electronics.

Asian markets

Most of the Asian markets were trading higher with Japan's Nikkei rising 1.45%, Hong Kong's Hang Seng falling 1.02% and China's Shanghai Composite rising 0.2%.

Asian stock markets resumed their ascent on Thursday as investors doubled down on all things AI-related, while gold held atop $4,000 and the dollar retained its recent hefty gains. Oil prices dipped as geopolitical tensions eased a little on news that Israel and Hamas had agreed to the first phase of a ceasefire plan to end the two-year conflict, news agency Reuters reported.

Wall Street update

Overnight, US stocked ended lower on Wednesday powered by gains in technology shares despite the government shutdown in the United States.

Tech heavy Nasdaq rose 1.12%, S&P 500 advanced 0.58% and Dow Jones ended unchanged.

FII/DII activity

Foreign institutional investors bought shares worth ₹81 crore on Wednesday while domestic institutional investors bought shares worth ₹330 crore, data from the National Stock Exchange showed.

The FIIs have so far this month sold shares worth ₹5,235 crore and for the calendar year they have been net sellers to the tune of ₹1,59,755 crore, according to the data from National Securities Depository Limited (NSDL).

Stocks to watch

The GST rate reductions have resulted in some short-term adjustments across trade channels, as distributors and retailers focused on liquidating existing inventories, said Godrej Consumer in its quarterly updates.

This has delayed the flow of new orders and temporarily deferred consumer purchases, impacting both growth and profitability, the FMCG business of Godrje Industries Group added.

The multiplex operator said the dine-in cinema is a first-of-its-kind experience where “blockbuster films meet gourmet dining”.

"This format transforms the cinema into a lifestyle destination, giving audiences the freedom to enjoy chef-curated meals in-seat, without stepping out of the auditorium or even purchasing a movie ticket," PVR INOX said in a statement.

The dine-in concept at M5 ECity Mall is built around the idea that cinema should be more than a film and it should be a complete evening of entertainment, food, and comfort, it added.

Trade setup

The NIFTY50 index faced selling pressure on Wednesday as the index closed over 65 points lower. Among the losers, auto stocks like Tata Motors, M&M were the top drag on the index, while IT stocks maintained their gains with Infosys, TCS, HCL Technologies and Tech Mahindra among the top gainers. The Q2FY26 result season for the NIFTY50 will kickstart today with TCS. Thus, IT stocks will continue to remain in focus throughout the day.

On the technical front, the index closed below Tuesday’s close before hitting 25,200 levels, forming another shooting star pattern. This indicates a strong selling pressure and resistance at the 25,200 levels for NIFTY. The immediate downside support for the index stands at the 21 EMA levels of 24,950.

On the options data front, the 25,200 calls witnessed significant open interest addition and also hold the highest open interest, indicating strong resistance for the current weekly expiry. On the downside, 25,000 puts hold the highest open interest, indicating near-term support for the index.

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