The Indian markets will open for a special Muhurat trading session on October 21 at 1:45 pm. The trading will continue for 1 hour till 2:45. As the name signifies, the Muhurat Trading is undertaken at a specific auspicious time, as investors believe that this can help them gain success and prosperity in trade.
Typically on this day, investors bet on key long-term investment ideas.
Dr VK Vijayakumar, Chief Investment Strategist, Geojit Investments, “The important takeaway from Samvat 2081 is India’s huge underperformance. Even though there are many reasons, including Trump tariffs, for this underperformance, the single major factor is the sharp decline in India’s earnings growth to 5% in FY25 from average 24% during the three years before that. Since ‘in the long run the market is a slave of earnings’ the major trend, going forward, will depend on how earnings growth pans out.”
He added that the fiscal and monetary reforms implemented this year have started showing results,”if this trend sustains, earnings growth will be good at around 8-10% in FY26, accelerating to around 15% in FY27. If this expectation materialises, the market will rally in Samvat 2082 compensating for the underperformance of Samvat 2081. In the short run the market may get a leg up from a possible India-US trade deal, but the long-term trend will be dictated by earnings growth.”
However, it is also a good time to take a look at the cues from global markets and the world of commodities, including the latest crude and gold rates.
Asian markets rally
Asian markets have been trending higher on multiple cues. Key regional indices took some solace from US President Donald Trump’s comments where he said that he expects to reach a fair trade deal with Chinese President Xi Jinping and downplayed risks of a clash over the issue of Taiwan. South Korea’s Kospi hit a record high for the sixth consecutive day. Trade tensions between the US and China have weighed on the markets in recent weeks, with investor focus now on Trump’s planned meeting with Xi on the sidelines of an economic conference in South Korea next week.
Elsewhere in Japan, the Nikkei rose close to 1% and is at the cusp of hitting the landmark 50,000 points on the prospects of Sanae Takaichi becoming Japan’s next prime minister. All eyes are on the Parliamentary vote later today. The MSCI’s broadest index of Asia-Pacific shares outside Japan hit an over four-and-a-half-year high and was last up 0.94%. Markets in China, Hong Kong and Australia all surged in trade.
US markets
Major US indices closed higher in trade on Monday- October 20. The Dow, S&P and Nasdaq all closed over 1% higher as investors awaited quarterly earnings reports from key US companies this week. Investors are also monitoring the US Federal government shutdown, now in its 20th consecutive day. According to White House economic adviser Kevin Hassett, the shutdown may end this week.
Gold
Gold prices are trading near record highs due to safe-haven flows and US interest rate cut expectations. Spot gold eased a bit to $4,350 per ounce, just below the record peak of $4,381.21 hit on Monday. The gold rate today is near Rs 13,068 per gram for 24 karat gold.
Crude
Crude oil prices fell on concerns about excess supply and risks to demand stemming from tensions between the US and China, the world’s top two oil consumers, even as President Donald Trump said he expected to reach a trade deal.
Brent crude futures fell 14 cents, or 0.2%, at $60.87 a barrel.Nymex crude price were hovering close to the $57/bbl mark. US President Donald Trump said he expects to reach a fair trade deal with Chinese President Xi Jinping. Disputes over tariffs, technology and market access remain unresolved ahead of their planned meeting in South Korea next week.
FII DII data
Foreign institutional investors were net buyers in trade on October 20. They bought equities worth Rs 790 crore. So far in October, FIIs have net bought Rs 203 crore worth equities for October. So far, they have been net sellers for 5 of the first 9 months of 2025, and total net outflows have exceeded the total outflows in 2024. DIIs have been net buyers on October 20. They bought equities worth Rs 2485.46 crore yesterday. For October so far, they have been net buyers too.
