Pre-Market Report: Indian Markets Shut for Gandhi Jayanti as Global Equities Face Bond Yield Pressures and Surging Crude — October 2, 2026

Global Market Cues

Asian markets are tracking lower this morning as investors remain cautious ahead of crucial US employment data. Japan’s Nikkei 225 declined 0.7%, while MSCI’s broadest index of Asia-Pacific shares outside Japan dropped 0.5%. Mainland Chinese markets remain closed for public holidays.

Overnight on Wall Street, major indices experienced choppy trading. The technology-heavy Nasdaq Composite managed to close higher on strength from semiconductor and AI-related shares, while the Dow Jones Industrial Average and the S&P 500 faced pressure from elevated bond yields. The US 10-year Treasury yield fluctuated between 5.25% and 5.34%, hovering near 24-year highs before pulling back slightly.

Commodity markets are on edge due to intensifying Middle East tensions. Brent crude surged above $102.70 per barrel, driven by concerns over military buildups in the Gulf and potential disruptions to global energy transit. Meanwhile, spot gold prices hovered around $4,150–$4,175 per ounce as investors balanced safe-haven demand against high global interest rates.

GIFT Nifty and Domestic Cues

Both the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE) are closed for trading today, Friday, October 02, 2026, for Mahatma Gandhi Jayanti. Normal trading activities across equity, equity derivatives, currency derivatives, and debt segments will resume on Monday, October 05, 2026. The Multi-Commodity Exchange (MCX) is also completely shut for both the morning and evening sessions.

In the preceding trading session on Thursday, October 1:

• The BSE Sensex slipped 570.59 points (0.79%) to settle at 71,909.70.
• The Nifty 50 dropped 198.50 points (0.88%) to close at 22,421.95.
• Foreign Portfolio Investors (FPIs) remained net sellers in domestic equities, putting downward pressure on the Indian rupee, which closed around 96.31 per US dollar.
• GIFT Nifty futures finished the previous session around the 22,555 mark, indicating underlying caution among market participants as global macro crosscurrents intensify ahead of next week’s reopening.

Key Stocks in Focus

While exchanges are closed today, several stocks remain on traders' radars heading into the Monday session:

• Oil Marketing Companies & Aviation (IOC, BPCL, HPCL, InterGlobe Aviation): High crude prices above $100 per barrel will keep refining margins and airline operating costs under heavy scrutiny.
• Escorts Kubota & Auto OEMs: Automobile and tractor manufacturers will react to their newly reported monthly sales figures when the bourses reopen.
• IT Stocks (TCS, Infosys, Tech Mahindra): Resilient performance across US tech counters overnight provides a potential buffer against macro headwinds.
• Saatvik Green Energy & Prism Johnson: Both companies recently secured substantial new commercial orders and subsidiary contracts.

Key Events to Watch Today

• US Non-Farm Payrolls (NFP): The September US employment and wage growth report will be released later today, which will heavily shape the Federal Reserve's rate path expectations.
• Middle East Geopolitical Developments: Investors globally are closely monitoring diplomatic and military headlines surrounding US-Iran tensions and potential supply chain impacts.
• Domestic Market Resumption: Indian market participants will assess weekend global cues before trading resumes on Monday, October 5, 2026.

Tags: Pre-Market Stock Market Nifty Sensex Market Update