Markets eye HCL Tech Q2 results, Sept CPI data; Brent at $103 | Opening Bell

Core Development: Markets eye HCL Tech Q2 results, Sept CPI data; Brent at $103 | Opening Bell

Market & Financial Impact: Geopolitical tensions remain in focus, with Saudi Arabia’s King Khaled airport in Riyadh reportedly coming under another Houthi attack, while a drone struck a tanker off the coast of Oman, outside the Strait of Hormuz, according to UK Maritime. The International Maritime Organization said 11 tankers came under attack while transiting the Strait of Hormuz in the week ended October 4. US President Donald Trump said he would reconsider joining Saudi Arabia in its fight against the Houthis, while also announcing that Russia and Ukraine had agreed to an “energy ceasefire” and that a deal had been reached with Russia to supply diesel to global markets. Brent crude slipped 1% to $103 a barrel. Asian markets are mixed, with the Kospi down 1% and Australia’s S&P/ASX 200 up 0.6%, while Japanese markets remain closed for a holiday. US futures are higher as investors prepare for an earnings- and inflation-driven week, with Bank of America, Citigroup and Goldman Sachs set to report Q3 results. US September CPI data is due Wednesday, followed by PPI data on Thursday. Treasury yields remain elevated, with the US 10-year yield above 5.2% and the 30-year yield above 5.6%, while gold hit a one-week high and posted a weekly gain. In India, the Sensex and Nifty snapped their eight-week losing streak, rising around 1% last week. Capital markets, FMCG and PSU banking stocks led the gains, rising about 3%, while metal, realty and power stocks were the top sectoral laggards, falling around 4%. FIIs sold equities worth ₹30,294 crore last week, while DIIs bought ₹30,313 crore. On Friday, FIIs were net sellers of ₹3,568 crore, while DIIs were net buyers of ₹4,743 crore. SEBI Chairman said guidelines on the closing auction mechanism would be issued within a week. The RBI tightened forex derivative rules, lowering the exposure threshold to $5 million, announced a special dollar window for three PSU oil marketing companies effective today, and raised the daily cash reserve ratio maintenance requirement for banks to 99% from October 16. Markets will also track Q2 results from HDFC Bank, Axis Bank and ICICI Bank. India’s September CPI data is due today, with a Reuters poll estimating inflation at 5.4%, its highest level in 2026. GIFT Nifty indicates a quiet start for Indian equities.

Actionable Insight: 🟢 Bullish Trigger: Positive business expansion or earnings beat may attract institutional and retail buying.