Global Cues Mixed, Indian Indices Close Lower; Brent Oil Near $105

Mumbai, Oct 16 – Global markets delivered mixed signals on Friday, causing Indian equities to end the session in the red after an initially flat opening.

The Sensex rose 25.47 points to 74,341.08 before slipping 0.40% to close at 74,012.99, its lowest level of the day. The Nifty 50 climbed to 23,065.10 at the open, then fell to a low of 22,913.80, down 151.3 points (0.65%).

Heavyweight losers on the Nifty 50 were HDFC Life, BSE, Jio Financial Services, Shriram Finance and Reliance. Mid‑cap and small‑cap indices also fell, registering declines of 0.5% and 0.11% respectively.

Sector performance showed the Nifty IT index leading with a 2.6% surge, followed by media, metal and PSU banking. Oil & gas, FMCG and pharma sectors posted the biggest drops.

In Asia, most markets rose: Japan’s Nikkei 225 up 1.38%, South Korea’s KOSPI up 1.56% and Australia’s ASX 200 up 1.01%.

U.S. equity indices gained on Thursday, with the Dow adding over 500 points (about 1.1%). The S&P 500 and Nasdaq increased modestly by 0.3% and 0.1% respectively, ending a three‑day losing streak.

For the week, the S&P 500 slipped roughly 1% while the Nasdaq dropped more than 2%. Brent crude traded above $105 per barrel, reflecting growing supply worries in the Middle East.

Analysts highlight that India’s market has performed better than many global peers, with the Nifty gaining 668 points in the last three sessions. The upside is linked to robust IT earnings, expectations of a revised long‑term capital gains tax in the upcoming budget, and stronger‑than‑expected Q2 results in metals and auto sectors.

The recent dip in the U.S. 10‑year Treasury yield to 5.07% and a firm rupee may curb FII selling, but as long as the 10‑year yield stays above 5% and Brent remains above $100, foreign outflows could persist.