Thursday, 15 October 2026. GIFT Nifty was 22,616.5 at 8:05 AM IST, 30.5 points (0.13%) below its 3:30 PM level of 22,647 on Wednesday, after US consumer inflation came in at 3.7% for September and the Nasdaq fell 1.88%. The selling was far heavier in Seoul this morning, where the Kospi fell 7.1% in early trade. Wednesday's 99.25-point fall in the Nifty is covered in the post-market report for 14 October.
GIFT Nifty did most of its falling on Wednesday evening, touching 22,524.5 in the 7:45 PM quarter-hour, and it reopened at 22,525 at 6:30 this morning before climbing as high as 22,642. At 8:05 AM it was 6.2 points below the Nifty's Wednesday close of 22,622.70. It is a futures contract and does not track the index point for point. (How far GIFT Nifty can be relied on.)
Seoul's chipmakers lead a 7.1% fall in the Kospi
The Kospi dropped 7.1% to 5,584.83 in early trade, AP reported; KED Global gives Wednesday's close as 6,008.81. Samsung Electronics fell 8.2% and SK Hynix 10.8%. The Herald Business reported that the Korea Exchange triggered a sell-side sidecar, a pause on program selling, for the first time in about two months after KOSPI 200 futures fell sharply. KED Global put the fall down to two things: the US inflation figure, which revived bets on a Federal Reserve rate rise, and growing strain around the financing of AI spending.
Tokyo was also sharply lower. AP had the Nikkei 225 down 3.9% at 65,119.51, with SoftBank Group down 9.1% and Tokyo Electron 6.3%; by about 8:15 AM IST Trading Economics showed it at 64,458, down 4.85%, with Advantest down 12.58%.
I found conflicting figures for Shanghai and none I could check for Hong Kong, so I have left both out.
US inflation reaches 3.7% and the Nasdaq loses 511.51 points
US consumer prices rose 3.7% in the year to September, up from 3.4% in August, and 0.6% in the month, according to Xinhua's report of the Labor Department data. Trading Economics said economists had expected 3.6% and that it was the highest rate in four months.
| Index | Close on Wednesday | Change |
|---|---|---|
| Dow Jones | 51,621.48 | −48.62 pts (−0.09%) |
| S&P 500 | 7,718.94 | −86.51 pts (−1.11%) |
| Nasdaq Composite | 26,692.87 | −511.51 pts (−1.88%) |
Technology was the weakest S&P sector at −2.62%, while health care gained 2.44% and consumer staples 2.38%, Xinhua reported. Trading Economics listed Nvidia down 3.22%, Alphabet 2.96%, Broadcom 3.1% and Micron 4.1%; AP had AMD down 5.7%. Bank of America fell 4.76% after its results, which Trading Economics said showed trading revenue below estimates. On the other side, UnitedHealth rose 4.86%, Merck 3.85% and Walmart 3.33%.
Trading Economics gives a slightly different Dow close, 51,575 (down 95 points). I have used Xinhua's figures because they reconcile with Tuesday's close.
Treasury yields and oil both eased overnight
The US 10-year Treasury yield rose to 5.33% on Wednesday after the inflation data and was back at about 5.11% this morning, a three-week low, Trading Economics reported. It linked the reversal to the fall in technology shares pushing money into government bonds.
Brent crude was $104.39 a barrel at about 8:20 AM IST, down $1.67 (1.58%), and WTI was $93.97, down 1.18% after five rising sessions. Trading Economics described the move as profit-taking, while listing the supply risks still in place: a container ship sank in the Strait of Hormuz after being hit by projectiles, Houthi attacks on Saudi Arabia continued, and Russia accused Ukraine of striking refineries including the 400,000 barrel-a-day Ryazan plant. It also cited reports that the US may relax sanctions on shadow-fleet tankers carrying Russian, Iranian and Venezuelan oil.
Wednesday at home: a 99.25-point fall and a 14th day of foreign selling
| Market | Close | Change |
|---|---|---|
| Nifty 50 | 22,622.70 | −99.25 pts (−0.44%) |
| Sensex | 72,781.89 | −251.89 pts (−0.34%) |
| Bank Nifty | 55,316.00 | −165.05 pts (−0.30%) |
| India VIX | 14.63 | +0.51 (+3.61%) |
| USD/INR | 95.17 | rupee up 19 paise |
Index figures are from Zerodha Kite market data; the rupee close is PTI's provisional figure, against 95.36 on Tuesday. Wholesale inflation for September, published on Wednesday, was 11.39%, up from 9.92% in August. (What India VIX measures.)
Foreign institutional investors sold a net ₹1,857.40 crore in the cash market on Wednesday, according to NSE's provisional data as published by 5paisa, against ₹1,305.10 crore on Tuesday. Trading Economics counted 13 straight sessions of foreign outflows through Tuesday, which makes Wednesday the 14th. Domestic institutions bought a net ₹2,670.40 crore. (How to read FII and DII data.)
Wipro, Tech Mahindra and the Zetwerk IPO today
- Today, Thursday 15 October: Wipro announces its September-quarter results. Tech Mahindra's board meets today and tomorrow on its results, an interim dividend and a bonus-share proposal. Upstox's results calendar also lists Nestle India, Jio Financial Services, HDFC Life, Polycab, Persistent Systems and Angel One. Zetwerk's IPO opens, with a price band of ₹143 to ₹151 for an issue of about ₹5,012 crore, of which ₹2,830 crore is fresh shares. There is no index expiry today.
- Friday, 16 October: record date for the HCLTech dividend; Federal Bank, Bajaj Housing Finance and Oberoi Realty results.
- Saturday, 17 October: HDFC Bank, ICICI Bank, Axis Bank and Yes Bank results.
- Monday, 19 October: Zetwerk's IPO closes. Tuesday is a holiday, so under NSE's rule that an expiry falling on a holiday moves to the previous trading day, the weekly index expiry is on Monday.
- Tuesday, 20 October: NSE trading holiday.
- Wednesday 21 to Friday 23 October: Jio Platforms IPO subscription.
- Friday, 23 October: Infosys results; Zetwerk's proposed listing date.
- Tuesday, 27 October: monthly expiry.
- Tuesday, 10 November: next NSE trading holiday.
What I'll look at before the open
- Where the Kospi and Nikkei stand by 9:00 AM against their early-trade falls.
- GIFT Nifty against the 8:05 AM reading of 22,616.5.
- Brent, and any further reports from the Strait of Hormuz.
Sources
- GIFT Nifty, Nifty 50, Sensex, Bank Nifty and India VIX: Zerodha Kite market data
- US index closes, sectors, CPI and Bank of America: Xinhua
- CPI expectations and US share moves: Trading Economics
- Kospi, Samsung, SK Hynix, Nikkei, SoftBank, Tokyo Electron and AMD: AP via KSAT; Kospi's previous close and reasons: KED Global; sidecar: The Herald Business; later Nikkei figure: Trading Economics
- US 10-year yield: Trading Economics
- Brent: Trading Economics; WTI: Trading Economics
- Rupee close: HDFC Sky (PTI)
- WPI inflation: The Tribune
- FII and DII flows: NSE provisional data via 5paisa; selling streak: Trading Economics
- Wipro: Wipro press release; Tech Mahindra: Angel One; results calendar: Upstox
- Zetwerk IPO: Free Press Journal, HDFC Sky; Jio Platforms IPO dates: Kotak Neo
- Holidays and expiry: NSE holiday list and expiry rules
This note summarises public news and data for information only. It is not investment advice or a recommendation to buy or sell any security, and I don't publish levels, targets or trade ideas. I am not registered with SEBI as an investment adviser or research analyst.