US & Asian market in red | Crude prices, US yields inch up | Infosys cuts FY27 guidance
Indian markets have slipped for four straight sessions, and the Nifty closed Friday at 22,600 after a 2.36% fall. Today’s Opening Bell LIVE asks whether the bear hug will tighten or loosen. Global cues are weak. Wall Street ended Friday in the red, with the Dow down 1.23%, the S&P 500 down 0.52% and the Nasdaq down 0.21%. The VIX jumped 6% past the 20 mark, and the selling has spread beyond tech. US telecom stocks fell sharply on reports of SpaceX entering the wireless carrier market, and consumer sentiment hit one of its lowest readings in the survey’s 74-year history. Asian markets are trading lower, and Gift Nifty points to a cautious start.
We also track what is driving the global mood: Brent crude near $116 on Middle East tensions, the US 10-year yield back near 5%, rising bets on a December Fed rate hike, and gold slipping below $4,000 an ounce. With the Fed meeting on October 27-28, the ECB on Thursday and the BoJ on Friday, we break down what it means for Indian markets. We also bring you the FII and DII flow data, the key levels to watch on the Nifty, and live reactions to Infosys’ revised FY27 guidance and results from Kotak Mahindra Bank, IndusInd Bank, IDFC First Bank and Tata Motors CV.