1124: Marketbuzz Podcast with Vivek Iyer: Sensex, Nifty 50 set to open lower, tracking weak global peers

Indian benchmark indices — Sensex and Nifty 50 — are likely to open lower on October 26, following weak cues from global peers.

Stocks on Wall Street witnessed a sharp sell-off with the NASDAQ bearing the brunt of the selling pressure. It fell over 2.4% with Alphabet and Meta stocks were the key drags.

Meanwhile, the key bugbear for Indian markets that is crude oil prices went up significantly in the previous session, Brent futures were up over 2.3% and were trading over the $90 per barrel mark this morning.

In the Indian market, the Nifty breached the key level of 19,100 level on an intraday basis following which the markets ended lower for the fifth straight session. Nifty Bank has turned negative for 2023.

October 26 is the expiry session and the Street is bracing for an extremely volatile session and all indications suggest it will be skewed towards the downside.

Stocks to track: Axis Bank, Jubilant Foodworks, Asian Paints, ACC, Canara Bank and more

Tune in to the Marketbuzz Podcast for more