NIFTY futures traded at GIFT City in Gandhinagar fell 50 points to 22,599, signalling a weak start for Indian equity benchmarks on Thursday, October 15. The decline followed a cautious global mood after crude oil rose above $106 per barrel and the wholesale price index (WPI) based inflation accelerated to 11.39% in September from 9.92% in August. The futures dip reflected concerns that higher‑than‑expected CPI inflation data may revive expectations of a Fed rate hike.

The benchmarks closed lower on Wednesday after a pause in the previous session. The SENSEX ended 252 points lower at 72,782, while the NIFTY50 index declined 99 points to close at 22,623. The move mirrored the global selloff that saw the Dow Jones Industrial Average fall 0.09%, the S&P 500 drop 1.11% and the Nasdaq plunge 1.88%. The dip followed a day of cautious sentiment as global markets reacted to the inflation data and the possibility of a Fed rate hike.

Asian markets traded sharply lower as the selloff in tech shares deepened. South Korea's KOSPI dropped 7.08%, Japan's Nikkei tumbled 4.33%, China's Shanghai Composite index fell 1.52% and Hong Kong's Hang Seng index plunged 0.92%. The decline reflected heightened risk aversion after the CPI data renewed bets of a Fed rate hike going ahead. US stocks ended sharply lower, with the Dow Jones Industrial Average falling 0.09%, the S&P 500 dropping 1.11% and the Nasdaq falling 1.88%. Fed funds futures now price a 31.6% probability of a 25‑basis‑point hike at the next two‑day meeting on October 28, Reuters reported citing CME Group's FedWatch tool.

Foreign institutional investors sold shares worth ₹1,857.44 crore on Wednesday, while domestic institutional investors bought shares worth ₹2,670 crore. IDBI Bank shares will be in focus after the Union Cabinet approved the strategic sale of a 60.72% stake in the lender to Fairfax Financial Holdings for ₹52,878 crore. The government and Life Insurance Corporation of India will jointly retain a 34% stake in the restructured entity, involving the sale of a 30.48% stake held by the government and a 30.24% stake held by LIC.

Nestle India, Wipro, Jio Financial Services, Tech Mahindra, Persistent Systems, HDFC Life, HDFC AMC, IIFL, Indian Bank, IRFC and L&T Finance among others will also be in focus as they report their September quarter earnings. These companies are scheduled to release their September quarter results in the coming days, and investors will closely monitor their guidance and profit margins for signs of resilience amid the broader market volatility.