Nasdaq down 1% | Crude oil prices fall 7% on Monday | US Mid-terms in focus

Core Development: Nasdaq down 1% | Crude oil prices fall 7% on Monday | US Mid-terms in focus

Market & Financial Impact: Join us live for Opening Bell as we get you ready for the trading day on Dalal Street. Wall Street ended mixed as the rotation out of tech stocks continued, with the Nasdaq down 1.1% and the S&P 500 down 0.5%, while the Dow gained 0.4%. Marvell cracked 12% after announcing its $115 billion acquisition of Lumentum, Oracle fell 8% on plans to raise capital for its AI build-out, and Apple is lower in extended trading on a disappointing margin forecast. Asian markets are trading mixed, with the Kospi sliding sharply, but GIFT Nifty points to a gap-up start for India after the Nifty reclaimed the 23,400 mark yesterday, with Reliance leading the surge. We also break down the FII and DII flows, US yields and what the global tech rotation could mean for the Indian market. On the geopolitical front, Brent crude is hovering near $104 a barrel after a sharp sell-off, as reports of fresh US strikes on Iran’s Qeshm Island come even as Trump says Iran wants to make a deal. Americans also head to the polls for the US midterm elections, with the economy and cost of living among the key issues. Closer home, the Finance Minister’s comments on tax relief for foreign investors are in focus. On the earnings front, we break down ITC’s in-line Q2, with cigarette volumes subdued and FMCG revenue growth at a 14-quarter high, and preview State Bank of India’s results due today. The festive season also begins with special Diwali programming lined up on Moneycontrol throughout the week.

Actionable Insight: 📊 Earnings Focus: Assess quarterly EBITDA margins, year-over-year revenue, and management guidance.