Monday, 26 October 2026. GIFT Nifty was at 22,604.5 at 8:05 AM IST, 15.5 points (0.07%) above where it stood at 3:30 PM on Friday. Oil was the overnight story: Brent climbed 3.1% to above $116 a barrel in Friday's US session, its highest since June 2022, and the Dow Jones lost 652.82 points; this morning Brent has eased to $114.57. Friday's session at home is in the post-market report for 23 October.
Oil above $116 pulled Wall Street lower on Friday
The Associated Press tied Friday's US losses to rising oil prices. The Dow fell 1.2%, the S&P 500 0.5% and the Nasdaq Composite 0.2%. Over the week the S&P 500 and the Nasdaq ended lower, while the Dow and the Russell 2000 held on to gains.
| US index | Friday 23 October close | Day | Week |
|---|---|---|---|
| Dow Jones | 52,215.16 | −652.82 (−1.2%) | +212.75 (+0.4%) |
| S&P 500 | 7,623.68 | −39.75 (−0.5%) | −35.76 (−0.5%) |
| Nasdaq Composite | 25,955.34 | −53.52 (−0.2%) | −184.69 (−0.7%) |
| Russell 2000 | 2,775.90 | −8.13 (−0.3%) | +54.53 (+2%) |
The US 10-year Treasury yield was 4.97% this morning, according to Trading Economics, which said markets put about a 90% chance on the Federal Reserve leaving rates unchanged at this week's meeting and about 76% on a 25-basis-point rise in December.
Brent gives back $2.15 this morning
Brent was $114.57 a barrel early on Monday, down $2.15 (1.84%), and WTI $101.13, down 2.11%, Trading Economics showed. In its note on Sunday it listed the pulls in both directions: President Trump said he would decide between a deal with Tehran and a return to military operations, Houthi forces attacked Riyadh airport, and Iran was reported to be preparing retaliation against Israel and the UAE. Against that, Middle Eastern crude exports have recovered to near their pre-war levels.
| This morning | Price | Change |
|---|---|---|
| Brent | $114.57 | −$2.15 (−1.84%) |
| WTI | $101.13 | −2.11% |
| US 10-year yield | 4.97% | |
| Nikkei 225 | 62,285 | −408.16 (−0.65%) |
Tokyo's chip shares slip
The Nikkei 225 was down 408.16 points (0.65%) at 62,285, Trading Economics reported, as investors questioned whether spending on artificial intelligence can be sustained. Technology shares took the brunt: Kioxia fell 3.5%, Tokyo Electron 3.1%, Ibiden 3%, Advantest 2.6% and Disco 2.3%.
GIFT Nifty has moved in a narrow band this morning, between 22,533.5 and 22,615.5. Its Friday night session ended at 22,535.5, so the gain since 3:30 PM came after the weekend. At 22,604.5 it is 4.5 points above the Nifty's Friday close (how much weight GIFT Nifty can carry).
Friday at home: banks fell 1.16% and VIX rose 6.98%
The Nifty touched 22,372 during Friday's session before closing at 22,600, down 87.65 points. Bank Nifty lost 638.35 points, and India VIX, the market's gauge of expected volatility, jumped 6.98% to 16.86 (what India VIX measures).
| Friday 23 October | Close | Change |
|---|---|---|
| Nifty 50 | 22,600 | −87.65 pts (−0.39%) |
| Sensex | 73,123.83 | −125.56 pts (−0.17%) |
| Bank Nifty | 54,287.35 | −638.35 pts (−1.16%) |
| India VIX | 16.86 | +1.10 (+6.98%) |
| USD/INR | 94.93 | rupee down 12 paise |
Foreign institutions turned net buyers of ₹887.60 crore in the cash market on Friday, after selling a net ₹3,458.70 crore on Thursday, NSE's provisional figures show. Domestic institutions bought a net ₹3,235.40 crore (reading FII and DII data).
The rupee weakened for a second day, PTI reported, closing 12 paise lower at a provisional 94.93 to the dollar from 94.81. It opened at 94.78 and touched 94.98; forex traders pointed to crude prices and global dollar strength, with the dollar index at 101.73.
Infosys guides 1%-2% revenue growth for the year
Infosys reported September-quarter revenue of $5,145 million on Friday, up 1.5% from a year earlier and 1.2% from the June quarter in constant currency, according to its results release filed with the US SEC. Its operating margin was 21.0%. The company put full-year revenue growth at 1%-2% in constant currency and its operating margin at 20%-22%.
Large deals signed in the quarter were worth $5.2 billion, 62% of it new business, and the company said AI revenue grew 29% from the previous quarter. The board declared an interim dividend of ₹26 a share, 13% more than a year ago.
Jio Platforms bids reached 21.36 times; allotment is today
The Jio Platforms issue closed on Friday subscribed 21.36 times, with the institutional portion (ex-anchor) at 67.15 times, non-institutional investors at 13.99 times and retail at 2.76 times, according to Chittorgarh's compilation of exchange data. It drew over 1.38 crore applications. Groww gives the issue size as ₹30,213 crore and the price band as ₹1,065 to ₹1,119.
Dates for the week
- Monday, 26 October: no NSE index contract expires. Jio Platforms allotment. Ather Energy holds its September-quarter call with analysts at 4:00 PM, according to its NSE filing. This morning's company news is on Stocks in News Today.
- Tuesday, 27 October: monthly F&O expiry, the last Tuesday of the month; Jio Platforms shares due in demat accounts.
- Wednesday, 28 October: Jio Platforms' expected listing.
- Tuesday, 10 November: the next NSE trading holiday.
Before the bell
- Brent, and anything more from Washington on Iran.
- How IT shares trade in the pre-open session on Infosys's results.
- Whether India VIX stays near Friday's 16.86 with monthly expiry tomorrow.
Sources
- GIFT Nifty, Nifty 50, Sensex, Bank Nifty and India VIX: Zerodha Kite market data
- US index closes and Brent on Friday: Associated Press via La Nación
- Brent, WTI and oil commentary: Trading Economics; US 10-year yield and Fed expectations: Trading Economics; Tokyo: Trading Economics
- FII and DII flows: NSE provisional data via 5paisa
- Rupee and dollar index: PTI via DT Next
- Infosys: results release, Form 6-K, US SEC
- Jio Platforms: Chittorgarh, Groww
- Ather Energy call: NSE filing
- 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.