Key Points

Investors remained watchful amid mixed global cues, the ongoing US government shutdown, and the domestic earnings season.

The Nifty 50 index opened at 25,167.65, recording a minor decline of 14.15 points or 0.06 per cent, while the BSE Sensex opened lower by 96.65 points or 0.12 per cent at 82,075.45.

Experts noted that US markets, which had recently hit lifetime highs, ended a bit lower as the lack of government data kept investors cautious.

The absence of fresh economic triggers, coupled with uncertainty over the prolonged U.S. government shutdown, weighed on global sentiment.

Meanwhile, the Israel-Hamas truce led to a decline in oil prices on reduced Middle East risk premia, while gold and silver continued to move upward.

Ajay Bagga, Banking and Market Expert, told ANI that India has witnessed multiple days of foreign portfolio investor (FPI) net inflows in the secondary markets.

He highlighted that the blockbuster oversubscription of the LG Electronics IPO reflects strong investor appetite for primary market offerings.

"The wait is now twofold," Bagga said. "Some relief from the U.S. tariffs by November is a small probability. The second is the earnings season which has begun well. The focus will remain on domestic sectors benefiting from continued government infra spending, the consumption boost from GST 2.0, income tax cuts, and the RBI's rate cuts and liquidity injection. Globally linked sectors like IT will wait for more positives from the global macro, but are near their cycle troughs," he added.

In sectoral trends on the NSE, Nifty Auto, FMCG, Media, and Metal indices opened flat in red. On the other hand, Nifty IT was up by 0.22 per cent, Nifty PSU Bank by 0.11 per cent, Nifty Realty by 0.13 per cent, and Nifty Consumer Durables gained 0.31 per cent.

On the commodities front, gold and silver prices witnessed sharp declines after recently touching record highs.

Manav Modi, Metal Analyst at Motilal Oswal Financial Services, said, "Gold and silver prices fell more than 2 per cent after marking all-time highs and breaching USD 4000 and USD 50 briefly. As the dollar pushed higher and investors booked profits following the ceasefire deal between Israel and Hamas, both metals witnessed some pressure. Silver has turned into steep backwardation, suggesting acute supply tightness unmatched against rising demand."

LG Electronics continued to remain in focus after its public issue was subscribed 54.02 times on day three. The allotment is scheduled to be completed today, and the shares will be listed on October 14.

Among quarterly results, Tata Consultancy Services (TCS) reported strong earnings that were ahead of market expectations. The company posted revenue of Rs 65,799 crore, up 3.7 per cent QoQ and 2.4 per cent YoY. Operating profit stood at Rs 16,565 crore, up 6.8 per cent QoQ and 7.1 per cent YoY. The Board also recommended an interim dividend of Rs 11 per share.

Other companies expected to announce their second-quarter results today include Elecon Engineering Company, Waaree Renewable Technologies, GK Energy, Yash Highvoltage, Bizotic Commercial, Pro Fin Capital Services, Intense Technologies, Affordable Robotic & Automation, Sayaji Pune, and Oswal Overseas.

Across Asian markets, sentiment remained subdued. Japan's Nikkei 225 fell 1.02 per cent, Hong Kong's Hang Seng slipped 1.07 per cent, while South Korea's KOSPI was the only major index trading higher, gaining 1.32 per cent. Taiwan's markets remained closed for the National Day holiday.

- ANI