Friday, 9 October 2026. What happened overnight, the freshest corporate filings since Thursday's close, & what is likely to matter in today's session.
Snapshot: Commodities, Rates & Macro
| Item | Level | Move | One-line note |
|---|
| Brent crude (Dec) | $104.28/bbl | +4.1% | Hurricane shut in 63% of US Gulf output; ~$103.8 Friday morning |
| WTI crude (Nov) | $91.49/bbl | +3.6% | Same storm, same squeeze on prompt barrels |
| Gold (spot) | ~$4,171/oz Fri am | +~0.9% | Flat Thursday, firmed overnight on risk-off |
| Silver (spot) | ~$59.2/oz close | broke below $60 | Thursday range $58.4-60.7; back near $60 Friday morning |
| LME copper (cash) | $14,526/t | +$16 | Holding near record territory |
| LME aluminium (cash) | $3,060.50/t | -1.4% | Gave back part of the recent run |
| US 10-year yield | ~5.23% | -5 to -6 bp | Touched ~5.35% intraday, eased after a strong 30-year auction |
| India 10-year G-sec | ~7.29% | up 2-6 bp | Fresh two-year-plus high, second day after the hike |
| USD/INR | 96.88 | -13 paise | Oil +4% & FII selling; suspected RBI defence near 96.9 |
| US jobless claims (wk) | 197,000 | -2,000 | Below the 200k expected; labour market still tight |
The Big Picture
- Thursday was the ugliest session of the year so far. The Sensex fell 1,045 points (1.44%) to 71,593 & the Nifty fell 1.64% to 22,232, the lowest Nifty close in 21 months, with the Sensex closing at a level last seen in February 2024. Every sectoral index closed red, metals worst at -3.55%, & the volatility index jumped 10%. The arithmetic of the selling pressure: foreign investors sold a net Rs. 12,944 crore of equities in one day while domestic institutions absorbed Rs. 10,703 crore of it.
- Why did it happen on Thursday specifically? Three forces stacked up. Brent crude jumped past $104 a barrel, & India imports roughly 85% of its oil, so every $1 on Brent adds roughly Rs. 15,000-17,000 crore to the annual import bill. Second, the rate hike a day earlier: a central bank in tightening mode means borrowing costs rise across the economy. Third, US bond yields near 25-year highs pull money away from emerging markets, which also explains the rupee closing at 96.88, near its weakest ever.
- Overnight gave two very different signals. On Wall Street, a newspaper report that OpenAI's annualised revenue is running roughly $20 billion below earlier estimates knocked chipmakers hard: the Nasdaq fell 1.25% while the Dow actually rose 0.10%, a rotation out of AI names into everything else. Yet the same evening TCS reported $9.6 billion of fresh order bookings & said its AI revenue has already crossed $3.1 billion a year. The market is arguing about AI's payoff at the very moment Indian IT is finally showing AI income on its books.
- Today's cues are mildly positive. GIFT Nifty (the Singapore-traded Nifty future that signals the open) sat around 22,374-22,420 in the morning, pointing higher, & Brent softened to ~$103.8 after the US President said there would be no strike on Iran before the November midterms. The policy news is also friendly: the GST Council stripped tax officers of arrest powers & promised faster refunds, detail below.