SpaceX Spectrum Deal Rattles Telecoms as US Stocks Rebound and Indian Markets Snap Eight-Week Losing Streak

US stocks opened higher on Friday, October 9, with the S&P 500 gaining 22.35 points or 0.29 percent to 7,787.71, the Dow Jones adding 67.32 points or 0.13 percent to 51,298.96, and the Nasdaq rising 149.59 points or 0.55 percent to 27,342.93, as tech shares recovered following a prior session selloff and oil prices retreated on easing Middle East supply concerns.

The session's sharpest sector move came from telecommunications, where SpaceX closed an $8 billion deal to acquire Grain Management's nationwide low-band wireless spectrum portfolio, sending its shares up 4.12 percent to $167.18 in premarket trade. The deal triggered steep selling across established carriers: T-Mobile fell 6.5 percent, Verizon dropped 5.9 percent, and AT&T lost 5.6 percent, as investors priced in heightened competitive risk from SpaceX's expanded spectrum footprint. A bullish Wall Street initiation on SpaceX added to the stock's gains.

Health insurer Humana was the session's standout individual mover, surging 14.4 percent in premarket trading after receiving a highly favorable Medicare Star Ratings assessment. Among other movers, Applied Materials slipped 1.64 percent on profit-taking in semiconductor equipment names, while FactSet Research Systems gained 1.88 percent following positive institutional commentary.

In India, equity markets staged a decisive recovery on Friday, snapping an eight-week losing streak. The BSE Sensex jumped 879.09 points or 1.23 percent to close at 72,472.33, and the Nifty 50 advanced 288.65 points or 1.30 percent to settle at 22,520.45, reclaiming the key 22,500 psychological level after touching a fresh 52-week intraday low of 22,179.90 the prior session. Nifty IT led all sectors with a gain exceeding 3 percent, driven by Tata Consultancy Services reporting a 15 percent year-on-year rise in Q2FY27 net profit, with TCS shares advancing nearly 4.92 percent to around Rs 2,178.10. All major sectoral indices closed in the green, with FMCG up 2.22 percent, PSU Bank up 1.41 percent, and Auto up 1.36 percent.

The Nifty 50 formed a Bullish Harami candlestick pattern on the weekly chart, a technical signal analysts say requires follow-through buying next week for confirmation. India VIX cooled 5.96 percent to 14.37. Domestic institutional investors absorbed foreign selling pressure, posting net purchases of Rs 4,743.26 crore against foreign institutional net sales of Rs 3,568.90 crore. The Indian rupee firmed 16 paise to 96.72 against the dollar, supported by central bank intervention and a softer dollar index. Brent crude fell 1.32 percent to $102.90 per barrel.