Indian markets pare early gains; oil prices slide:Financial stocks drag indices

Indian benchmark equity indices opened on a strong note today, extending gains from the previous week. The BSE Sensex rose more than 300 points to trade near 72,800, while the NSE Nifty 50 surged over 100 points to trade at 22,650. Albeit, later on the barometers pared early gains to trade lower. Buying interest was seen across major sectors, with Auto, Realty, and Media stocks witnessing the strongest gains in morning trade. Contract prices of global benchmark for oil prices, Brent crude fell to $103/barrel at the time of writing this article. Mixed Cues from Asian Markets Asian equity markets showed mixed trends today. While Hong Kong’s Hang Seng posted modest gains, South Korea’s Kospi saw a significant decline of over 2.5%. Wall Street Ended Higher on 9 October US stock markets closed with solid gains in the previous session on Friday, 9 October, providing a positive backdrop for global equities. Institutional Activity: FIIs Sell ₹26,000 Crore in 7 Days Foreign Institutional Investors (FIIs) continued their selling streak, offloading shares worth over ₹25,500 crore over the last seven sessions. However, strong support from Domestic Institutional Investors (DIIs) helped balance the outflow, with DIIs buying over ₹25,000 crore during the same period. (Note: All net figures are in ₹ crore) Previous Session Recap