Global Selloff Hits Asian Markets Before India’s Opening Bell

Japan’s Nikkei fell as much as 8%, while South Korea’s Kospi dropped 8.8%, triggering a trading halt. The sharp global selloff set a bleak tone for Indian markets Friday. GIFT Nifty futures stood at 24,467.50, down 130 points, before the opening bell. The plunge followed a 4.4% fall in the S&P 500, its worst session since April 2025. ¹

That slide came after Indian markets surged Thursday: the Sensex rose 2.6%, and the Nifty 50 gained 2.4%. The Nifty, which tracks 50 large companies listed on the National Stock Exchange, still faces a weaker global backdrop at Friday’s open. Brent crude climbed 1.2% to $99.50 a barrel after reports of fresh attacks on tankers in West Asia, while US oil also rose. ^1,3

The higher oil price and falling markets come as investors weigh a stream of company results. Telecom operator Bharti Airtel reported a 31% year-on-year rise in quarterly profit to ₹8,887 crore, while oil producer ONGC’s profit rose 57.3% to ₹15,488.6 crore. Biscuit maker Britannia’s profit increased 10.2% to ₹721 crore. These figures offer company-specific signals, but they do not erase broader pressure from overseas markets and oil. ^1,2

Other shares will also draw attention as companies report results, including Hindalco, Siemens and Gland Pharma. The market’s first test is Friday’s opening and whether overseas losses continue to weigh on Indian shares. Investors will also watch crude prices and how the day’s company results shape individual stocks. Trading during Friday’s session will offer the next clear signal. ^1,3