Indian benchmark indices are likely to see a weak start on October 14, tracking GIFT Nifty at 22,763. Markets got a boost on Tuesday as the Sensex rose 1,109.10 points. While Asian stocks showed gains, US equities fell as chip stocks struggled. Investors now wait for fresh signals on interest rates.

Indian benchmark indices are likely to see a weak start on October 14, tracking GIFT Nifty, which was trading lower at around 22,763 in early trade.

Track the latest updates on GIFT Nifty right here on Moneycontrol

Bulls made a strong comeback in Tuesday’s session, with the Nifty closing above 22,700, led by IT stocks following strong quarterly earnings from HCL Technologies.

Markets erased opening losses in the initial hours and traded in positive territory for most of the session amid volatility. Gains extended in the final hour after Finance Minister Nirmala Sitharaman’s positive comments on long-term capital gains (LTCG) tax and the securities transaction tax (STT) lifted investor sentiment.

At close, the Sensex was up 1,109.10 points or 1.54 percent at 73,033.78, and the Nifty was up 358.60 points or 1.60 percent at 22,721.95.

Here is how financial markets across the globe fared overnight:

GIFT Nifty (Down)

GIFT Nifty was trading weak at around 22,763 in early trade, indicating a negative start for the domestic equity markets.

Asian Markets (Up)

Asian stocks rebounded from two days of losses on expectations the Federal Reserve may not need to raise interest rates aggressively next year.

MSCI Inc.’s Asia Pacific equities index advanced 0.2%, led by technology shares. The advance helped the gauge recover after a semiconductor selloff pushed it to its lowest close since August on Tuesday. Chipmakers SK Hynix Inc. and Samsung Electronics Co. both gained more than 2% in Seoul trading.

US Equities (Slip)

The Nasdaq ended lower on Tuesday, ​as chip stocks added to recent losses and investors parsed mixed quarterly results from Citigroup and other ‌big US banks.

The S&P 500 declined 0.02% to end the session at 7,805.45 points.

The ‌Nasdaq ⁠declined 0.15% to 27,204.38 points, while the Dow Jones Industrial Average declined 0.35% to 51,670.10 points.

The S&P 500 has rallied 14% in 2026, lifted by AI-related technology stocks. However, the median stock in the index is up less than 5% and over 200 S&P 500 components are down for the year.

Dollar Index (Flat)

The dollar languished on Wednesday as traders awaited fresh signals on the timing for interest rate hikes to contend with persistent inflation.

The greenback weakened from an 18-month high in the previous session as oil prices eased and investors reassessed the AI-fueled rally that has supported demand for US assets. The euro clung to gains as budget concerns in France kept regional bond yields elevated and markets on edge.

The dollar index, which measures the greenback against a basket of currencies, edged 0.02% lower to 102.17, following a 0.35% slide on Tuesday.

US Bond Yield (Up)

The yield on 10-year Treasuries and 2-year Treasuries were up marginally at 5.22% and 4.79%, respectively.

Asian Currencies (Mixed)

Asian currencies traded mixed against the US dollar on Wednesday, with the South Korean won rising the most by 0.16 percent, followed by the Malaysian ringgit, which gained 0.08 percent, and the Indonesian rupiah, up 0.07 percent. The Philippine peso and Chinese renminbi edged up 0.02 percent each. On the other hand, the Japanese yen declined 0.10 percent, while the Taiwan dollar and Singapore dollar slipped 0.04 percent and 0.02 percent, respectively. The Thai baht also weakened by 0.05 percent against the greenback.

Crude (Gains)

Oil rose as a flare-up in attacks in the Middle East increased uncertainty over a recovery in Persian Gulf energy flows.

Brent climbed above $106 a barrel after falling 0.9% on Tuesday, while West Texas Intermediate advanced toward $95.

An escalation of Iranian attacks on tankers in the Strait of Hormuz is threatening the rebound in Gulf supply to near prewar levels, although the US said it assisted in shipping more than 19 million barrels of crude through the waterway.

Gold (Down)

Gold held a two-day decline after a Federal Reserve official signaled one more interest-rate hike may be needed this year, but further tightening won’t be necessary in 2027, improving sentiment toward the precious metal.

Bullion traded near $4,155 an ounce, after falling 0.8% in the previous two sessions.

Fund Flow Action

Foreign institutional investors (FIIs) extended their selling streak for the 13th consecutive session on October 13, offloading equities worth around Rs 1,300 crore, albeit at a slower pace. Meanwhile, domestic institutional investors (DIIs) continued their buying support, purchasing equities worth over Rs 2,439 crore during the session.

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