Indian benchmark indices, the BSE Sensex and the NSE Nifty, are set for a flat-to-positive start on Friday, tracking firm cues from global peers amid a spike in crude oil prices. Shares of oil marketing companies are likely to remain in focus amid persistent concerns over U.S. sanctions on Russian oil, which have reignited fears of supply disruptions and higher input costs for Indian refiners, the key buyers of discounted Russian crude since 2022.

At 8:30 am, GIFT Nifty futures were trading 35 points higher at 25,995, indicating a gap-up start for the Sensex and Nifty50.

On Thursday, the Indian equity market extended its gains for the sixth consecutive session, but a late-session sell-off in oil stocks trimmed the rally, with the BSE Sensex ending 130 points, or 0.15%, higher at 84,556.40. The Nifty50 settled at 25,891.40, up just 22.80 points, or 0.09%, after touching an intraday high of 26,104.20. The broader market underperformed the benchmark indices, with the BSE MidCap index sliding 0.2%, while the SmallCap index slid 0.5%.

Oil stocks propel U.S. stocks higher

In the overnight trade, all three major U.S. indices closed on a positive note, driven by a strong rally in oil stocks after President Donald Trump imposed a "massive" new round of sanctions on Russia's crude giants Rosneft and Lukoil.

The Dow Jones Industrial Average rose 0.31%, the S&P 500 Index climbed 0.58%, and the Nasdaq Composite Index surged 0.89%.

Asian shares up on Trump-Xi meeting plans

Tracking firm cues from Wall Street, Asian markets were trading mostly higher in early trade on Friday following reports of a meeting between U.S. President Trump and Chinese President Xi on October 30. There is optimism in the market that the talks between the two leaders will ease concerns about trade tensions.

Japan’s Nikkei 225 index rallied 1.34%, Hong Kong’s Hang Seng jumped 0.6%, and China’s Shanghai Composite rose 0.4% in early trade.

South Korea’s Kospi was the best performer in the region, surging nearly 2%, while Singapore’s Straits Times added 0.3%, and Indonesia’s Jakarta Composite climbed 0.6%. Australia’s ASX 200 was trading marginally lower in the final hour of the trade.

Stocks to watch today

Results today: Big players such as ITC Hotels, SBI Life Insurance Company, Dr Reddy's Laboratories, Aditya Birla Sun Life AMC, Brigade Hotel Ventures, Coforge, eClerx Services, Jinkushal Industries, Latent View Analytics, NACL Industries, SBI Cards and Payment Services, Shanthi Gears, Sigachi Industries, and Vakrangee will unveil their Q2 results today.

Colgate-Palmolive (India): The company reported a 17.1% year-on-year (YoY) decline in net profit at ₹327.5 crore for Q2 FY26, while revenue fell 6.2% YoY to ₹1,519.5 crore.

Sagar Cements: The company posted a net loss of ₹44.17 crore in Q2 FY26, narrowing from ₹56.98 crore a year ago. Revenue surged 26.7% YoY to ₹601.9 crore, supported by robust volume growth.

Hero MotoCorp: The auto major announced its entry into the United Kingdom market through a partnership with MotoGB.

NTPC Green Energy: The subsidiary of state-owned NTPC has announced the commercial operation of a 9.9 MW wind capacity at Bhuj, Gujarat.

Defence stocks: The sectoral stocks will be in focus as the Defence Acquisition Council (DAC) approved procurement proposals worth approximately ₹79,000 crore, aimed at enhancing the operational capabilities of the armed forces.

Kotak Mahindra Bank: The Department for Promotion of Industry and Internal Trade (DPIIT) has signed an MoU with Kotak Mahindra Bank to strengthen financial and non-financial support for startups across India.

Indian Hotels Company: The Tata group firm has infused $25 million as equity into its Netherlands-based wholly owned subsidiary IHOCO BV.

Kaynes Technology India: The company has announced that its subsidiary, Kaynes Holding (Singapore), has entered into a Share Purchase Agreement with Frauscher Sensor Technology Group GmbH to acquire an additional 7% stake in Sensonic GmbH.

Syrma SGS Technology: The company has signed a definitive agreement with Premier Energies to jointly acquire 100% ownership of KSolare Energy, a leading solar inverter manufacturer.

AGI Infra: The board of the company has approved a proposal to raise up to ₹500 crore through the issuance of equity shares to support business expansion and strengthen the balance sheet.

Himatsingka Seide: The board of Himatsingka Seide has approved plans to raise up to ₹500 crore through the issuance of equity shares to support future growth and expansion.

Hexaware Technologies: The firm has appointed Eravi Gopan as president and global head–high tech, products, and platforms.

Highway Infrastructure: It has received a Letter of Award (LoA) worth ₹11.76 crore from the National Highways Authority of India (NHAI) for toll collection and facility management on the Ujjain–Garoth section (NH-752D) in Madhya Pradesh.

IPO Listing: Shares of Midwest IPO will make its debut on the BSE and NSE today.

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