Pre-Market Report: Muted Opening Expected Amid Mixed Global Cues and Economic Survey Focus

Global Market Cues

The global sentiment remains cautious after the US Federal Reserve kept its benchmark interest rates unchanged in the range of 3.5% to 3.75%. While the decision was widely expected, the lack of clear guidance on the timing of future rate cuts led to a muted reaction on Wall Street. Overnight, the Nasdaq Composite edged up 0.17%, supported by a rally in chip stocks like Intel and Nvidia, while the S&P 500 and Dow Jones Industrial Average ended virtually flat.

In Asia, markets are trading mostly lower this morning. Japan's Nikkei 225 fell 0.46%, and South Korea's KOSPI dropped 0.58%, tracking the lack of momentum from the US. Commodities are seeing significant action, with Gold prices hitting record highs above $5,500 per ounce due to dollar stabilization and safe-haven demand, while Brent crude remains steady around $63 per barrel.

GIFT Nifty and Domestic Cues

As of 7:30 AM IST, the GIFT Nifty is trading around the 25,370 level, indicating a gap-down start of approximately 60-80 points for the Nifty 50. Despite this weak start, domestic sentiment is supported by a landmark "in-principle" Free Trade Agreement (FTA) between India and the European Union, which is expected to boost long-term export prospects.

Crucially, Foreign Institutional Investors (FIIs) turned net buyers on Wednesday, injecting ₹480 crore after a 15-session selling streak. Domestic Institutional Investors (DIIs) also remained aggressive buyers, adding ₹3,360 crore to the cash market.

Key Stocks in Focus

The corporate earnings season is at its peak, with several heavyweights set to report their Q3 results today.

• ITC & Vedanta: Both companies will be in focus as they report quarterly numbers today; investors will watch for dividend announcements and margin guidance.
• Adani Power & NTPC Green: Energy stocks remain in the limelight amid sector-wide buying and upcoming earnings reports.
• Larsen & Toubro (L&T): Expected to react to its mixed Q3 performance and management's outlook on infrastructure orders.
• Swiggy & One97 Communications (Paytm): New-age tech stocks will be monitored following their respective earnings disclosures.
• Ambuja Cements & Canara Bank: Other major entities scheduled to announce results today.

Key Events to Watch Today

Today is a high-stakes day for the Indian markets with multiple macro and technical triggers:

• Economic Survey 2025-26: Union Finance Minister Nirmala Sitharaman will present the Economic Survey in Parliament today, providing the official growth outlook and fiscal roadmap ahead of the Union Budget.
• Weekly F&O Expiry: High volatility is expected as traders square off weekly derivative contracts for the Nifty 50 and Bank Nifty.
• Budget Positioning: Investors will continue to rebalance portfolios ahead of the upcoming Union Budget, focusing on sectors like Agriculture, Infrastructure, and Defense.

TAGS: Pre-Market, Stock Market, Nifty, Sensex, Market Update

Tags: Pre-Market Stock Market Nifty Sensex Market Update