The Indian equity benchmarks are expected to open higher on October 21, 2026, as indicated by NIFTY futures traded at GIFT City in Gandhinagar. This gap up opening follows positive cues from Asian markets, despite a cautious sentiment earlier in the week due to rising crude oil prices.
- NIFTY Futures at GIFT City rose 123 points to 23,018.
- Indian benchmarks fell on October 19 after Brent crude prices exceeded $108 per barrel.
- Foreign institutional investors sold shares worth ₹1,148.64 crore on October 19.
- At least 40 companies will announce earnings on October 21.
- Oil marketing, aviation, and paint sectors remain under watch due to elevated crude prices.
Why Are Indian Markets Expected to Open Higher?
NIFTY futures traded at GIFT City advanced by 123 points to reach 23,018, signaling a gap up opening for Indian markets on October 21. This rise is supported by positive performances in Asian markets, including gains in Japan's Nikkei, Taiwan Weighted, and South Korea's KOSPI indices.
What Caused the Recent Decline in Indian Equity Benchmarks?
On October 19, Indian equity benchmarks ended a two-day winning streak. The SENSEX dropped 876 points to close at 73,853, and the NIFTY50 index fell 257 points to 22,889. The decline was influenced by rising Brent crude oil prices, which moved above $108 per barrel, causing caution among investors.
How Did Foreign and Domestic Investors React?
Foreign institutional investors sold shares worth ₹1,148.64 crore on October 19, reflecting cautious sentiment. In contrast, domestic institutional investors bought shares worth ₹3,201 crore, showing confidence in the market despite global uncertainties.
Which Companies Are Reporting Earnings on October 21?
At least 40 companies are scheduled to declare their earnings for the September quarter of the financial year 2026-27. Notable companies include Eternal (Zomato operator), Adani Green Energy, Indian Hotels Company (Taj operator), SRF (chemical conglomerate), Vishal Mega Mart (hypermarket chain), KEI Industries (electrical wires and cables manufacturer), and Mahindra and Mahindra Financial Services (NBFC).
Why Are Oil Marketing, Aviation, and Paint Sectors in Focus?
These sectors are closely watched due to sustained high crude oil prices, which can increase input costs. Brent crude futures rose 0.78% to $109.64 per barrel, and US West Texas Intermediate crude gained 0.78% to $98.58. Supply concerns, such as a supertanker fire near the Strait of Hormuz caused by a sea mine, add to market uncertainty. Higher crude prices may lead to increased fuel inflation and affect marketing margins for oil marketing companies depending on how much of the cost is passed to consumers.
How Did Global Markets Perform Recently?
Asian markets showed mixed but mostly positive results: Japan's Nikkei rose 1.23%, Taiwan Weighted gained 1.8%, South Korea's KOSPI surged 3.76%, while China's Shanghai Composite declined slightly by 0.17%. In the US, shares mostly ended higher with the Dow Jones Industrial Average up 1.02%, S&P 500 gaining 0.28%, and Nasdaq slipping 0.02%. Strong profit reports from companies like Equifax and Hasbro supported the US markets.
