Indian Stock Market Outlook
The Sensex and Nifty 50 are expected to open on a flat-to-muted note on Thursday, taking cues from mixed global markets. While most Asian indices traded higher, Wall Street closed on a mixed note overnight, with the S&P 500 and Nasdaq ending at record highs.
On Wednesday, Indian equities closed higher on optimism around a potential India–US trade agreement. The Sensex advanced 323.83 points, or 0.40%, to 81,425.15, while the Nifty 50 rose 104.50 points, or 0.42%, to 24,973.10.
Ajit Mishra, SVP – Research, Religare Broking Ltd., said: “We maintain a positive bias and suggest using dips or consolidation phases to accumulate fundamentally strong counters.”
Asian Markets
Asian markets were mixed on Thursday, mirroring Wall Street’s overnight performance. Japan’s Nikkei 225 gained 0.73%, and the Topix edged up 0.09%. South Korea’s Kospi rose 0.67%, while the Kosdaq added 0.2%. Futures indicated a weaker open for Hong Kong’s Hang Seng Index.
Gift Nifty
Gift Nifty traded near the 25,088 level, about 16 points higher than Wednesday’s Nifty futures close, suggesting a mildly positive start for Indian benchmarks.
Wall Street
US equities ended mixed on Wednesday as cooler-than-expected inflation data reinforced hopes of a Federal Reserve rate cut next week. The Dow Jones Industrial Average fell 0.48% to 45,490.92, while the S&P 500 climbed 0.30% to 6,532.04. The Nasdaq inched up 0.03% to 21,886.06.
Tech stocks led gains: Oracle surged 36% after upbeat revenue guidance, Nvidia gained 3.85%, Broadcom rose 10%, and AMD advanced 2.4%. Constellation Energy, Vistra, and GE Vernova each rallied more than 6%. Apple slid 3.2%, while Tesla edged up 0.24%.
Oracle’s Record Rally
Oracle shares skyrocketed 35.95% to $328.33, marking the company’s biggest one-day percentage gain since 1992. The stock’s market capitalization hit $922 billion, surpassing Eli Lilly, JPMorgan Chase, and Walmart.
US Inflation
US producer prices unexpectedly declined in August. The Producer Price Index (PPI) for final demand fell 0.1%, following a downwardly revised 0.7% rise in July. Economists had expected a 0.3% increase after July’s previously reported 0.9% surge.
India–US Trade Talks
Commerce and Industry Minister Piyush Goyal confirmed that India is in “active dialogue” with the US on a free trade agreement. He also noted ongoing discussions with New Zealand and negotiations with the European Union in New Delhi to conclude a trade pact.
Japan Inflation
Japan’s wholesale inflation accelerated in August, with the Corporate Goods Price Index (CGPI) rising 2.7% year-on-year, in line with forecasts. The figure followed a revised 2.5% increase in July.
