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Dalal Street Eyes IT Rally and Q2 Results As Trump Waives Russia Oil Sanctions
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Moneycontrol•19-10-2026, 08:34
Dalal Street Eyes IT Rally and Q2 Results As Trump Waives Russia Oil Sanctions
- •Dalal Street begins the week following a second consecutive weekly gain, heavily driven by IT stocks which surged 10% for their best weekly performance since 2008.
- •US President Donald Trump waived Russia oil sanctions that previously threatened 100 percent tariffs on India, easing supply concerns as Brent pulled back from 110 dollars.
- •Foreign Institutional Investors sold equities for the ninth consecutive week totalling Rs 8,991 crore, despite purchasing Rs 1,166 crore on Friday, while Domestic Institutional Investors bought Rs 7,813 crore.
- •The rupee recorded a 2 percent gain last week, marking its strongest weekly performance in seven months amid cautious global cues and rising US bond yields.
- •Market focus turns to upcoming Q2 earnings from major firms like Bajaj Finance, Infosys, and UltraTech, alongside major IPO launches from Jio Platforms and Paras Health.
Key Questions Answered
US President Donald Trump waived the sanctions, restrictions, and duties under the Lindsey O. Graham Sanctioning Russia and Iran Act of 2026 citing United States national interests and to protect global energy markets amid ongoing geopolitical tensions.
HDFC, Axis, and ICICI Bank are in focus as Dalal Street starts the week following a second straight weekly gain led by IT stocks.
The Rs 30,213 crore Jio Platforms IPO and the Rs 1,450 crore Paras Health IPO are scheduled to open on October 21.
