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Global Markets Surge, Tech Leads Rally; RBI Rate Hike Expected Amidst Indian Market Slump
M
Moneycontrol•05-10-2026, 08:46
Global Markets Surge, Tech Leads Rally; RBI Rate Hike Expected Amidst Indian Market Slump
- •Wall Street closed higher, with the Dow, S&P 500, and Nasdaq gaining, driven by tech stocks and Nvidia's all-time high despite weak US jobs data.
- •US economy added only 29,000 jobs in September against estimates of 89,000, with unemployment rising to 4.2%, yet Treasury yields remained elevated.
- •Oil prices eased as Brent closed at $102.25 a barrel, and G7 nations agreed to release 100 million barrels from strategic fuel reserves amidst renewed Houthi attacks on Saudi Arabia's energy infrastructure.
- •Indian equities face a challenging week, with the Nifty experiencing an eighth consecutive weekly decline, wiping out nearly –20 lakh crore in market capitalization.
- •Markets anticipate a 25-basis-point rate hike from the RBI this week, while the rupee saw its biggest one-day fall against the dollar in two months.
Key Questions Answered
Markets are expecting a 25-basis-point rate hike from the Reserve Bank of India during this week's policy meeting.
Wall Street ended higher on Friday, with the Dow Jones gaining 0.5%, the S&P 500 rising 0.7%, and the Nasdaq advancing 1.2% led by tech stocks.
Indian equities marked an eighth consecutive weekly decline after closing lower on every trading day last week, with the Nifty slipping over 3% to close at 22,421.
