Indian equity markets are likely to open on a cautious note on Wednesday, with GIFT Nifty pointing to a muted start. GIFT Nifty was trading around 22,542, down 50 points in the early hours. Investors are likely to track Asian markets, crude oil prices, US bond yields and foreign and domestic institutional flows for cues on the market’s direction.

The benchmark indices ended lower on October 7. The Nifty declined 0.8% to close at 22,603.05, while the Sensex fell 429 points, or 0.6%, to end at 72,638.70. Among Nifty 50 stocks, Titan was the biggest laggard, closing nearly 4% lower.

Key global and domestic cues for October 8, 2026

Asian markets opened lower, with Japan’s Nikkei 225 declining 0.4%, South Korea’s Kospi slipping 0.35%, and Australia’s S&P/ASX 200 falling 0.4%.

Oil prices rose on October 8, with Brent crude gaining 1.35% to $101.55 a barrel, while US crude climbed 1.2% to $89.42 a barrel.

US stock futures traded with a positive bias. Dow Jones Industrial Average futures rose 7 points, or 0.01%, while S&P 500 futures gained 0.04%. Nasdaq-100 futures outperformed, advancing 0.1%.

US equities came under pressure as a sharp rise in Treasury yields weighed on investor sentiment. The 10-year US Treasury yield climbed to 5.3%, while the 30-year yield rose to 5.7%.

The US Dollar Index (DXY), which measures the dollar’s value against a basket of six foreign currencies, was trading at 102.23 The index evaluates the strength or weakness of the US dollar in comparison to major currencies.

The basket contains currencies such as the British Pound, Euro, Swedish Krona, Japanese Yen, Swiss Franc, etc. The Indian rupee closed at 96.75 against the US dollar on October 7.

Wall Street ended lower on Wednesday, October 7, as investors booked profits following recent gains. The S&P 500 slipped 0.2%, while the Dow Jones Industrial Average dropped more than 340 points, or 0.7%. The Nasdaq Composite also declined 0.2%, marking a weaker close across the major US benchmarks.

In the latest trading session, COMEX gold down 0.01% to 4,180.80.

The rate for 24-carat gold today is Rs 1,49,560 per 10 grams. The 18-carat gold price today in India is Rs 1,12,170. The 24-carat gold rate in Dubai today is Rs 1,36,304.

In the latest trading session, COMEX silver down 0.31% to 64.35.

Silver prices in India stood at Rs 249.90 per gram, while the price was Rs 2,49,900 per kilogram.

Foreign institutional investors (FIIs) remained net sellers in Indian equities on Wednesday, offloading Rs 6,121.40 crore, compared with Rs 2,961.30 crore on Tuesday. Domestic institutional investors (DIIs), however, remained buyers, with net purchases of Rs 4,596.60 crore, according to NSE cash-market data.

In the October 7 trading session, sector-wise, Electronics gained 1.69%, followed by Sugar at 1.60% and Housing Finance at 1.44%.

In the last trading session, group-wise, Essar Group rose 5.09%, followed by Pennar Group at 2.03% and Yash Birla Group at 1.96%. On the other hand, Poddar Group declined 3.27%, Hindujas Group fell 2.83% and Essel Group slipped 2.70%.