Markets across the globe are largely trading in the green, buoyed by gains in the US and Japanese indices. Heavy buying by foreign institutional investors (FIIs) yesterday is also expected to support the Indian market today.
The US Federal Reserve’s interest rate decision, due tonight, will set the tone for global markets in the coming days.
US President Donald Trump, who continues his Asian tour, is scheduled to meet Chinese President Xi Jinping tomorrow. The framework for the long-anticipated US–China trade agreement will also be unveiled during this meeting.
There has been little progress in India–US trade talks, as Trump is expected to focus on them only after his Asian tour concludes.
Gold prices remain unstable, with continued fluctuations. Crude oil, which had fallen sharply earlier, has seen a slight rebound.
The Gift Nifty closed Monday at 26,156.00 and opened today at 26,148. The early cues point towards a positive opening for the Indian market.
US markets continued their record-breaking run, fuelled by optimism over a potential trade deal with China. The Fed’s interest rate decision and the Trump–Xi meeting are expected to sustain the upward momentum.
Nvidia’s announcement of a $10 billion investment in Nokia for developing 5G telecom infrastructure sent Nokia shares soaring by 22%. Nvidia’s own stock jumped 4.98%, pushing its market value to $4.89 trillion, inching closer to becoming the first $5 trillion company. Apple also joined the $4 trillion market capitalisation club, following Nvidia and Microsoft.
SK Hynix, a South Korean semiconductor maker supplying Nvidia, reported a 39% increase in revenue and a 62% surge in net profit for Q3.
The Dow Jones Industrial Average rose 161.78 points (0.34%) to close at 47,706.37, while the S&P 500 gained 15.73 points (0.23%) to end at 6,890.89. The Nasdaq Composite advanced 190.04 points (0.80%) to 23,827.49.
US futures are trading mixed: Dow down 0.10%, S&P up 0.06%, and Nasdaq up 0.09%.
Japan’s Nikkei surged 1.70%, crossing the 51,000 mark for the first time. South Korea’s market was marginally higher, while Australia’s index slipped 0.70% amid rising inflation. Hong Kong markets remained closed for holidays, and Chinese indices showed mild gains.
Despite an optimistic start, the Indian market ended flat on Tuesday. The Nifty touched an intraday high of 26,041.70 before retreating. PSU banks and metals gained, while realty, IT, FMCG, auto, and oil stocks declined.
The Nifty fell 29.85 points (0.11%) to close at 25,936.20, and the Sensex slipped 150.68 points (0.18%) to 84,628.16. The Bank Nifty rose 99.85 points (0.17%) to 58,214.10.
FII buying hit a recent high, with ₹10,339.80 crore worth of net purchases in the cash segment — one of the largest single-day inflows in months.
Analysts expect the market to maintain its bullish undertone, with 25,840–25,790 acting as support and 26,015–26,075 as resistance zones for Nifty.
MakeMyTrip reported an 8.7% rise in revenue but posted a $5.7 million loss for Q2.
SEBI’s proposal to cap mutual fund brokerage fees could dent AMCs’ profits — watch stocks like HDFC AMC, Aditya Birla Sun Life, Nippon India, and UTI AMC.
Happiest Minds saw a 9.95% rise in revenue, but quarterly profit declined sequentially.
Adani Total Gas revenue up 19.6%, but profit down 11.9%; Adani Green Energy profit surged 25%.
Jindal Steel’s profit fell 25.9%, despite a 4.2% rise in revenue.
Shree Cements tripled its profit YoY, though results lagged analysts’ expectations.
IdeaForge posted a 41.3% surge in profit and 10% growth in revenue.
Gold prices continued their slide amid optimism over the US–China trade deal. Gold futures closed at $3,953.40 per ounce, before rebounding briefly to $3,983.
According to an LBMA survey, traders expect gold to reach around $4,980 per ounce by end-2026, a 25% rise from current levels.
In India, 22-carat gold dropped ₹1,800 on Tuesday to close at ₹88,600 per sovereign.
Silver prices fell to $47.30 per ounce, while platinum stood at $1,600, palladium at $1,442, and rhodium at $7,800.
The US dollar index eased to 98.67, while the euro climbed to $1.1648, the pound to $1.3264, and the yen to ¥151.83 per dollar.
The Indian rupee weakened again, closing at ₹88.26 per dollar, amid month-end import demand. The Chinese yuan strengthened to 7.10 per dollar, marking its third straight gain.