Stock Market Open Report Today, October 12, 2026: Sensex, Nifty Flat as RBI Rupee Curbs Kick In, Oil Cools on Energy Ceasefire

Mumbai, Oct 12: Mumbai, Oct 12: Indian equity benchmarks flatlined on Monday as the RBI’s rupee-defence measures took effect and oil prices eased after US President Donald Trump declared an “energy ceasefire” between Russia and Ukraine. The Sensex was down 59.26 points, or 0.08%, at 72,413.07, while the Nifty 50 was up 18.05 points, or 0.08%, at 22,538.50 at 9:26 am. 

The RBI’s special dollar window for three state-run oil marketing companies opened on Monday, taking one of the biggest sources of dollar demand out of the spot market. Brent crude for December delivery fell 1.65% to $102.99 a barrel and US crude for November dropped 1.92% to $90.09. Both are still elevated, and the rupee has lost more than 7% this year. 

Volatility marked the opening minutes. The Nifty opened at 22,593.20 and hit a high of 22,651.10, 130.65 points above Friday’s close of 22,520.45, then slid below its early low of 22,575.50. The India VIX, the market’s fear gauge, was up 2.05% at 14.67 in early trade, while the Nifty Smallcap 100 outpaced the benchmark with a 1.13% gain. 

Three things will set the tone. First, crude: Brent is still above $100 a barrel. Second, flows: foreign investors sold a net ₹12,944 crore of Indian equities on Thursday, their largest single-day outflow since May 29, while domestic institutions bought ₹10,703 crore. Third, the rupee, which is down more than 7% this year and hovering near record lows. 

Gainers & Losers 

Among Nifty stocks in early trade, Bajaj Auto (BAJAJ-AUTO) led the gainers, rising 2.79% to an LTP of ₹10,051 from a previous close of ₹9,778. Mahindra & Mahindra (M&M) gained 1.47% to ₹2,837.40 from ₹2,796.20, Bharat Electronics (BEL) rose 1.44% to ₹373.45 from ₹368.15, Eicher Motors (EICHERMOT) added 1.13% to ₹7,129.50 from ₹7,050, and BSE (BSE) climbed 1.12% to ₹3,324 from ₹3,287.20. On the losing side, Tech Mahindra (TECHM) fell 4.00% to an LTP of ₹1,453.50 from a previous close of ₹1,514.10, ITC (ITC) slipped 0.77% to ₹263.95 from ₹266, State Bank of India (SBIN) lost 0.50% to ₹954.35 from ₹959.10, Bharti Airtel (BHARTIARTL) dropped 0.50% to ₹1,796.10 from ₹1,805.10, and Axis Bank (AXISBANK) declined 0.48% to ₹1,253 from ₹1,259.10. Tech Mahindra’s drop was the steepest on the Nifty list, even as TCS (TCS) rose 0.74% to ₹2,172 from ₹2,156. 

Broad Markets & Sectoral Performance 

Broader markets were firm. The Nifty Microcap 250 rose 1.17% to 25,834.25 from 25,536.65, the Nifty Smallcap 50 gained 1.14% to 9,658.85 from 9,550.40 and the Nifty Smallcap 100 added 1.13% to 19,370.95 from 19,153.70. No broad-market index in the data was in the red, and even the Nifty Next 50 was up 0.68%. The Nifty 500 gained 0.47% to 21,970 and the Nifty Midcap 100 rose 0.45% to 59,052.25, so small caps outpaced large caps. Among sectors, the Nifty Media jumped 2.72% to 1,595.50, the Nifty Auto climbed 1.43% to 25,215.55 and the Nifty Chemicals rose 1.17% to 28,297.80, while the Nifty IT fell 0.22% to 28,512.50, the Nifty PSU Bank slipped 0.16% to 8,113.60 and the Nifty Private Bank lost 0.15% to 27,182.10. 

RBI Measures 

On Saturday, the RBI said it would open a special window to meet the daily dollar needs of Indian Oil (IOC), Hindustan Petroleum (HPCL) and Bharat Petroleum (BPCL), with access from Monday. The facility supplies dollars directly from the central bank’s reserves, which removes one of the largest sources of demand from the spot market, though ANZ strategist Dhiraj Nim said it will show up in a depletion of reserves. The RBI also tightened hedging rules as the rupee hovers near record lows, pressured by surging oil prices and global bond yields, and the currency strengthened about 0.6% in the non-deliverable forward market after the announcement, albeit in thin trading. 

Asian Stocks on Monday Morning 

Asian markets were mixed on Monday morning. Hong Kong’s Hang Seng rose 0.49% to 24,330.78 and Australia’s ASX 200 gained 0.83% to 8,789.20, while Japan’s Nikkei 225 was little changed, down 0.02% at 69,030.92. South Korea’s KOSPI was the weak spot, down 2.45% at 6,463.74, with Taiwan’s benchmark down 0.63%, Shenzhen down 0.75% and Shanghai off 0.06% at 3,811.57, while Singapore’s Straits Times gained 0.56%, Malaysia’s benchmark rose 0.35% and New Zealand’s NZX 50 added 0.29%. 

Wall Street 

Wall Street ended Friday higher. The Dow Jones Industrial Average rose 423.31 points, or 0.83%, to 51,654.95, the S&P 500 gained 46.18 points, or 0.59%, to 7,811.54, and the Nasdaq added 172.83 points, or 0.64%, to 27,366.17. The VIX volatility index fell 3.7% to 14.84, while the NYSE Composite gained 0.59% to 23,939.10, the Nasdaq 100 rose 0.51% to 30,883.15, the Russell 2000 added 0.46% to 2,806.98 and utilities climbed 0.77%, while transports slipped 0.02%. 

Oil Prices 

Oil fell on Monday on hopes of better supply. Brent crude futures for December delivery dropped 1.65% to $102.99 a barrel, while US West Texas Intermediate futures for November declined 1.92% to $90.09. Trump said on Friday that Russia will supply more than 4 million tons of diesel to the global market under a deal he struck with Russian President Vladimir Putin. Prices could stay volatile, however, with UOB noting that pressure on oil could remain on the upside as Hurricane Isaias, a Category 3 storm with 120 mph winds, forces energy producers to curtail offshore output as it nears the US Gulf Coast, and that the Houthi strikes on Saudi Arabia have materially lifted Middle East risk premia. 

Energy Ceasefire  

Trump announced that an “energy ceasefire” between Russia and Ukraine would take effect immediately, with both sides agreeing to the arrangement. Ukraine’s leader, Volodymyr Zelenskyy, stated that Ukraine agreed to the ceasefire and hoped Russia would agree as well. The countries will refrain from attacking each other’s energy infrastructure. We may also see more Russian energy supplies entering the market following the US-Russia diesel deal, putting further pressure on crude oil prices. 

Iran War 

Iran’s head of security, Mohsen Rezaei, claimed on Sunday, in remarks carried by state media, that the US had not met Iran’s expectations regarding the seven terms it wants fulfilled to reopen the Strait of Hormuz. He said the US had complied with some of the terms, but others remained unresolved or unclear. The Strait would not be opened to the Americans until the remaining terms were met. 

Iran made an offer at the UN General Assembly stating that the Strait could reopen to normal traffic within seven days if its terms were met. The US responded to Iran’s offer through Qatar. 

Before the war began at the end of February, when the US and Israel attacked Iran, the Strait of Hormuz accounted for one-fifth of global oil and liquefied natural gas (LNG) flows. 

On Saturday, the Houthis also launched missile strikes on Riyadh Airport, killing 12 people and injuring more than 300, according to the original account. Iranian Foreign Minister Abbas Araghchi reached out to his Saudi counterpart following the attack. 

Indian Stocks on Friday 

Indian stocks staged a strong rally on Friday following the sharp sell-off on Thursday. The Sensex closed at 72,472, up 879 points, or 1.23%, while the Nifty 50 finished at 22,520, up 289 points, or 1.30%, at the close of the auction. A total of 2,344 stocks advanced, while 1,686 declined. The Nifty Midcap 100 rose 1.6%. The Nifty IT was the top sectoral gainer of the day, rising 3%, with TCS up 3.8%, HCL Tech gaining 3.4% and Infosys advancing 2.6%. The Nifty FMCG rose 2.2%, with ITC up 4.3%, while the Nifty Bank gained 1.4%. Apollo Hospitals was among the top gainers in the Nifty, rising 4.7%, while the India VIX fell 6%. For the week, the Nifty closed 0.4% higher and the Sensex ended 0.8% higher, recovering after their longest losing streak in 25 years. Over the past eight weeks, the indices have fallen 8.7% and 8.4%, respectively. 

Sources

• NSE
• BSE