Indian equity benchmarks made flat-to-positive start on Monday as oil prices declined on expectations of a Russia-Ukraine energy ceasefire and the central bank announced fresh measures to support the rupee. The Reserve Bank of India announced fresh measures over the weekend to support the rupee. The measures aim to redirect oil companies’ dollar purchases away from the spot market. The RBI also tightened certain hedging rules to help manage currency volatility. These steps could ease pressure on the rupee and support market sentiment.
Soon, Sensex and Nifty wiped out their gains and slipped below neutral lines to trade in red in early deals on account of selling pressure in Telecom and TECK stocks. Traders were concerned as foreign institutional investors (FIIs) extended their cash-market selling for an 11th consecutive session, with net sales of Rs 3,568.90 crore on October 9. Investors are monitoring the September-quarter earnings season for fresh direction. Also, traders remained on sidelines ahead of Consumer Price Index (CPI) based retail inflation data to be out later in the day.
On the global front, most of the Asian markets were trading in red as investors weighed stretched technology valuations ahead of a busy earnings calendar and assessed the implications of geopolitical developments for energy supplies. Meanwhile, Japanese market remained closed for a holiday.
The BSE Sensex is currently trading at 72366.05, down by 106.28 points or 0.15% after trading in a range of 72355.41 and 72884.25. There were 19 stocks advancing against 11 stocks declining on the index.
The top gaining sectoral indices on the BSE were Capital Goods up by 1.27%, Auto up by 1.10%, Industrials up by 1.09%, Realty up by 0.99% and Metal up by 0.97%, while Telecom down by 1.27%, TECK down by 1.05%, Bankex down by 0.26%, FMCG down by 0.26% and IT down by 0.22% were the top losing indices on BSE.
The top gainers on the Sensex were Bharat Electronics up by 1.28%, Tata Steel up by 1.18%, Trent up by 1.10%, Mahindra & Mahindra up by 1.09% and Bajaj Finance up by 0.98%. On the flip side, Tech Mahindra down by 3.05%, Bharti Airtel down by 1.96%, ITC down by 1.28%, Axis Bank down by 1.01% and State Bank of India down by 0.79% were the top losers.
Meanwhile, with a view to expanding bilateral ties, Finance Minister Nirmala Sitharaman met Singapore Business Federation (SBF) Chairman Mark Lee in Singapore on October 10, 2026, to discuss strengthening business engagement between the two countries through targeted business matching, trade delegations and cooperation in key sectors.
The Finance Ministry said the discussions focused on facilitating visits by Singaporean business delegations to India to enable meaningful interactions with Indian businesses and state governments, thereby expanding bilateral commercial opportunities. It added that Singapore’s ASEAN chairmanship in 2027 offers an opportunity to build further momentum in bilateral and regional economic cooperation. During the meeting, SBF highlighted potential areas of collaboration, including semiconductor supply chains, maintenance, repair and overhaul (MRO), food security and food processing.
Sitharaman also met Monetary Authority of Singapore (MAS) Deputy Managing Director Leong Sing Chiong. The MAS team presented its approach to tokenisation, including how the authority is fostering the development of the digital asset ecosystem, the ministry said in a separate post.
The ministry said the bilateral discussions explored potential efficiency gains from tokenisation, the importance of interoperability and trusted settlement arrangements, and the associated regulatory challenges. It added that both sides reaffirmed their commitment to working closely together on these emerging technologies.
The CNX Nifty is currently trading at 22512.15, down by 8.30 points or 0.04% after trading in a range of 22508.30 and 22651.10. There were 37 stocks advancing against 12 stocks declining, while 1 stock remain unchanged on the index.
The top gainers on Nifty were Bajaj Auto up by 3.12%, Dr. Reddy's Lab up by 1.52%, Bharat Electronics up by 1.45%, JSW Steel up by 1.30% and Trent up by 1.25%. On the flip side, Tech Mahindra down by 3.30%, Bharti Airtel down by 2.33%, ITC down by 1.24%, State Bank of India down by 1.19% and Axis Bank down by 0.97% were the top losers.
Asian markets were trading mostly in red; KOSPI dropped 190.79 points or 2.96% to 6,435.14, Jakarta Composite plunged 52.75 points or 0.87% to 6,041.01, Taiwan Weighted lost 48.78 points or 0.1% to 49,264.66 and Shanghai Composite fell 4.71 points or 0.12% to 3,809.08. On the other hand, Hang Seng advanced 17.65 points or 0.07% to 24,229.00 and Straits Times was up by 15.04 points or 0.28% to 5,416.93.
