US futures experienced a decline in pre-market trading as investors prepared for speeches from several Federal Reserve officials. The S&P 500 futures fell by 0.12%, settling at 5,793.25, while the Dow Jones Industrial Average futures decreased by 0.10% to 42,331.00. The Nasdaq 100 futures also dipped by 0.19%, reaching 20,260.75 by 3:30 p.m. IST.

Key economic events for October 9 and 10 include remarks from various Federal Reserve presidents and the highly anticipated release of the FOMC September meeting minutes. Notable speeches include:

• Raphael Bostic, President of the Federal Reserve Bank of Atlanta, at the Greater Atlanta Home Builders Association (5:30 p.m. IST)
• Lorie Logan, President of the Federal Reserve Bank of Dallas, at the Greater Houston Partnership Future of Global Energy Conference
• Austan Goolsbee, President of the Federal Reserve Bank of Chicago, opening remarks at the Chicago Payments Symposium (8:00 p.m. IST)
• Philip Jefferson, Federal Reserve Governor, speaking at the Charlotte Economics Club Lunch (10:00 p.m. IST)
• Release of the US FOMC September meeting minutes (11:30 p.m. IST)
• Mary Daly, President of the Federal Reserve Bank of San Francisco, participating in a moderated discussion on monetary policy (3:30 a.m. IST)

• In Japan, the Producer Price Index (PPI) will also be released at 5:20 a.m. IST.

  Nifty and Sensex Market Update

  On the Indian front, benchmark equity indices Nifty and Sensex closed lower after previously rising, erasing gains in the last hour of trading. This downturn was led by declines in major stocks such as Reliance and Nestle. The Nifty closed down 0.12% at 24,981.95, while the Sensex fell 0.21% to 81,467.10.

  Despite a firm opening and intraday gains of around 1.2%, profit-taking in heavyweight stocks led to a significant drop. Aditya Gaggar, Director of Progressive Shares, noted that the resistance level of 25,200 played a crucial role in today’s trading dynamics.

  While Reliance Industries, Nestle India, HDFC Bank, ITC, and Larsen & Toubro contributed to the decline, stocks like Infosys, Bharti Airtel, ICICI Bank, State Bank of India, and Axis Bank helped cushion the fall.The broader market saw a favorable tilt towards buyers, with 2,716 stocks rising compared to 1,224 that declined. The BSE Midcap and Smallcap indices outperformed the benchmarks, ending up 1.06% and 1.21%, respectively. Of the 20 sectors on the BSE, 17 advanced, with the BSE Realty index leading the gains, while the BSE FMCG index saw the most significant decline.