Novel pyranose derivatives that display Ferrier‐ and Ferrier‐Nicholas‐like reactivity have been designed. These systems: 1‐C‐alkynyl‐2‐deoxy‐2‐C‐methylene pyranosides (Ferrier), and their corresponding dicobalthexacarbonyl alkenyl derivatives (Ferrier‐Nicholas), which can be accessed by a concise synthetic route from commercially available tri‐O‐acetyl‐d‐glucal, allow the incorporation of two nucleophiles (at positions C‐3 and C‐2′) in the pyranose ring. The study of these systems has resulted in the discovery of novel reaction patterns that allow, among others, access to open‐chain derivatives, branched pyranosides, 1,6‐anhydro derivatives and, when reacting with indole, access to a new family of tetracyclic indole‐containing carbohydrate derivatives, namely, cyclohepta[b]indole‐fused glycals. The latter are, most likely, formed by a bis Ferrier‐type rearrangement followed by an unusual intramolecular 7‐endo‐dig Friedel–Crafts alkenylation of one of the indole moieties by the C‐1 alkyne.