Sensex opens 184 points higher despite weak global cues; IT, FMCG lead
Synopsis
Indian equities bucked a sharp global sell-off on 15 October, opening higher even as the Nasdaq slid 1.88%, Nikkei fell 4%, and Kospi crashed 7%. The divergence was driven by expectations that FIIs dumping Indian stocks for AI plays may now reverse course — making a global tech rout, counterintuitively, a potential catalyst for domestic inflows.
Key Takeaways
Sensex opened at 72,965.80 , up 183.91 points (0.25%) , on 15 October despite weak global sentiment.
Nifty50 started at 22,671.30 , gaining 48.60 points (0.21%) .
Nifty IT , FMCG , Auto , and Private Bank were top gainers, rising up to nearly 2 per cent ; Nifty Metal was the top laggard, down 1 per cent .
US inflation rose to 3.7% in September, triggering Nasdaq to fall 1.88% , Nikkei more than 4% , and Kospi more than 7% .
FIIs net sold ₹1,857 crore on Wednesday; DIIs countered with net purchases of ₹2,670 crore .
Crude oil prices fell nearly 2 per cent amid competing supply and shipping-cost signals.
Domestic equity benchmarks opened in positive territory on Thursday, 15 October, defying fragile global sentiment as weakness in technology stocks gripped US and Asian markets. The BSE Sensex opened at 72,965.80, gaining 183.91 points or 0.25 per cent, while the Nifty50 started at 22,671.30, up 48.60 points or 0.21 per cent.
Sectoral Performance in Early Trade
Sectoral indices painted a mixed picture in early trade. Nifty IT, Nifty FMCG, Nifty Auto, and Nifty Private Bank emerged as top gainers, rising up to nearly 2 per cent. Conversely, Nifty Metal was the biggest laggard, declining 1 per cent, while PSU Bank, consumer durables, pharmaceuticals, and healthcare indices also traded lower.
What Spooked Global Markets
Market analysts pointed to hotter-than-expected US inflation, which climbed to 3.7 per cent in September from 3.4 per cent in August, as the key trigger for global risk-off sentiment. The reading has raised the probability of another rate hike by the US Federal Reserve in October, according to analysts.
The concern triggered heavy selling on Wall Street, with the tech-heavy Nasdaq correcting 1.88 per cent on Wednesday. The fear then spread to Asia, with Japan's Nikkei falling more than 4 per cent and South Korea's Kospi declining more than 7 per cent.
Why India Bucked the Trend
Analysts noted that the sell-off in AI stocks globally could paradoxically benefit Indian markets. Foreign Institutional Investors (FIIs) who had been selling Indian equities to purchase AI-linked stocks may now reverse that trend, according to market experts. On Wednesday, FIIs remained net sellers, offloading equities worth approximately ₹1,857 crore, while Domestic Institutional Investors (DIIs) provided strong support with net purchases of around ₹2,670 crore.
Technical Outlook and Commodity Moves
Technically, the Nifty formed a bearish-leaning candle in the prior session, though the Relative Strength Index (RSI) stood at 41.66, above its average of 32.01, signalling some recovery in momentum, according to analysts. Meanwhile, crude oil prices declined nearly 2 per cent as investors weighed Strait of Hormuz supply risks against US efforts to ease global shipping costs — a development that could offer mild relief on India's import bill.
How durably Indian markets can hold these early gains will depend heavily on incoming US Fed signals and whether FII selling pressure eases in the sessions ahead.
Point of View
FII money parked there may flow back to Indian equities — not a fundamental re-rating. The RSI reading of 41.66 suggests the market has room to recover technically, but the Nifty's bearish candle from the prior session and persistent FII selling warn against complacency. Sustained DII support has been the floor; the ceiling will be set by whether the Fed follows through on another hike, which would pressure the rupee and tighten domestic liquidity. The crude dip is a minor tailwind, but Hormuz risk remains a live variable that could reverse it.
NationPress
15 Oct 2026
Frequently Asked Questions
Why did Sensex open higher on 15 October despite weak global markets?
The Sensex opened 183.91 points higher at 72,965.80 on 15 October even as Asian and US markets fell sharply, largely because analysts expect FIIs who sold Indian stocks to buy AI-linked equities globally may now reverse that trade as AI stocks corrected. Strong DII buying of ₹2,670 crore on Wednesday also provided a cushion.
What triggered the global market sell-off on 14-15 October?
Hotter-than-expected US inflation data showed the rate rising to 3.7 per cent in September from 3.4 per cent in August, increasing the likelihood of another US Federal Reserve rate hike in October. This triggered a 1.88 per cent fall in the Nasdaq, a more-than-4 per cent drop in Japan's Nikkei, and a more-than-7 per cent decline in South Korea's Kospi.
Which sectors gained and which fell on the Indian market on 15 October?
Nifty IT, Nifty FMCG, Nifty Auto, and Nifty Private Bank were the top gainers, rising up to nearly 2 per cent. Nifty Metal was the biggest loser, down 1 per cent, with PSU Bank, consumer durables, pharmaceuticals, and healthcare also trading lower.
What were FII and DII activity levels ahead of this session?
On Wednesday, FIIs were net sellers, offloading approximately ₹1,857 crore worth of Indian equities. DIIs stepped in with net purchases of around ₹2,670 crore, effectively absorbing the foreign selling pressure and supporting the market floor.
What is the technical outlook for Nifty after this opening?
Technically, Nifty formed a bearish-leaning candle in the prior session, but its RSI of 41.66 — above its average of 32.01 — signals some recovery in momentum, according to analysts. The index's ability to sustain gains will depend on global cues and incoming US Federal Reserve guidance.
