GIFT Nifty October 2026 futures rise 2.50 points, signalling a muted opening for the Nifty 50.
IT stocks may remain in focus after the US government suspended eight technology companies, including Microsoft, Adobe, Infosys, Wipro, Tata Consultancy Services (TCS), HCL Technologies, Cognizant and Capgemini, from the Permanent Labor Certification (PERM) programme, a key step in the employment-based green card process.
US officials accused the companies of misusing employment-based immigration programmes and displacing American workers. The suspension halts new and pending PERM applications involving the affected companies.
Institutional Flows:
Foreign portfolio investors (FPIs) sold shares worth Rs 12,943.58 crore, while domestic institutional investors (DIIs) were net buyers of Rs 10,703.11 crore in the Indian equity market on 8 October 2026, according to provisional data.
FPIs sold shares worth Rs 32,182.50 crore in October through 8 October 2026. This follows net selling of Rs 45,536.89 crore in September 2026, while FPIs were net buyers of Rs 17,366 crore in August 2026.
Global Markets:
Asian stock market traded mostly lower on Friday, 9 October 2026, tracking overnight losses on Wall Street as technology stocks came under pressure amid renewed concerns over the artificial intelligence (AI) boom. Markets in South Korea and Taiwan remained closed for a holiday.
US stock market ended mixed on Thursday, with the Nasdaq Composite posting its biggest one-day decline since mid-August. The Dow Jones Industrial Average gained 0.10%, while the S&P 500 fell 0.47%. The Nasdaq Composite dropped 1.25%.
Technology stocks faced heavy selling following reports that OpenAI told investors its annualised revenue was roughly $50 billion at the end of September, below the approximately $68 billion figure reported late last month. The discrepancy revived concerns over the sustainability of AI-related spending and the returns on investments in data centres and semiconductor infrastructure.
Among major technology stocks, Nvidia fell 2.94%, Advanced Micro Devices (AMD) declined 3.90%, Broadcom dropped 4.35%, Microsoft slipped 1.35%, Intel lost 5.34%, Micron Technology declined 4.79% and Oracle fell 5.5%. The broad-based weakness reflected investor caution towards technology stocks amid questions over the pace of AI-driven growth.
Investors are now looking ahead to the start of the third-quarter earnings season next week, when major U.S. banks are due to report results.
Domestic Market:
Indian equity market extended their selloff for a second consecutive session on Thursday, with the Sensex plunging 1.44% to 71,593.24 and the Nifty 50 falling 1.64% to 22,231.80, as surging crude oil prices, the RBI’s hawkish policy shift, elevated US Treasury yields and persistent foreign investor outflows weighed on sentiment. All NSE sectoral indices ended lower, although most IT stocks bucked the broader trend. Weak global cues and broad-based selling intensified risk aversion, while investors remained cautious as the Q2 FY27 earnings season gathered pace. Over the two sessions, the Sensex declined 2.02% and the Nifty 50 fell 2.39%.