Global Market Cues

The global sentiment showed signs of stabilization overnight following a volatile session triggered by tariff uncertainties. While Wall Street saw a mixed finish—with the Dow Jones and S&P 500 ending in the green while the Nasdaq remained under pressure due to AI-sector jitters—Asian markets have surged in early trade today.

• Japan’s Nikkei 225 is trading over 1.2% higher, while South Korea’s Kospi has gained nearly 1.18%.
• The GIFT Nifty is currently trading near the 25,670 mark, suggesting a firm start for the Indian domestic indices.
• Oil prices remain steady around $66-71 per barrel, providing some relief to emerging markets, though the US Dollar Index remains firm ahead of President Trump's State of the Union address.

GIFT Nifty and Domestic Cues

GIFT Nifty futures are trading at a premium of nearly 70 points relative to the Nifty 50's Tuesday close of 25,424.65. This indicates that the Nifty is likely to reclaim the 25,500 level at the open. On the domestic front, sentiment is bolstered by a State Bank of India (SBI) report projecting India's Q3FY26 GDP growth at a robust 8.1%, despite global headwinds.

• Technically, the Nifty faces immediate resistance at 25,600, while the 25,400 zone remains a crucial support level.
• Institutional activity will be closely watched after Foreign Portfolio Investors (FPIs) remained net sellers in recent sessions.
• The conclusion of the "BS Manthan" summit today may also provide further policy and economic insights.

Key Stocks in Focus

Several stocks are expected to see significant price action today based on corporate announcements and earnings:

• IRFC: The government's Offer for Sale (OFS) to divest up to 4% stake opens today for non-retail investors; retail bidding starts Thursday.
• Voltas: Management has flagged potential price hikes of 5-15% for air conditioners due to rising copper costs and rupee depreciation.
• IDFC First Bank: The bank has reportedly settled a ₹583 crore payment related to an unauthorized fund transfer incident in Haryana.
• Alembic Pharmaceuticals: Received USFDA approval for its generic antifungal Efinaconazole Topical Solution.
• Schaeffler India: Reported a strong Q3 net profit of ₹322.36 crore, up from ₹237.28 crore year-on-year.
• Waaree Energies: In focus following new order wins and a strategic collaboration in the green hydrogen sector.

Key Events to Watch Today

Investors should keep an eye on these major events that could influence market volatility:

• IRFC OFS Opening: The primary market activity will be a key sentiment driver for the railway sector.
• US State of the Union Address: Markets are wary of potential new trade or tariff announcements from the US President.
• Corporate Actions: NBCC (India) trades ex-dividend today; Fynx Capital trades ex-split.
• Economic Data: US Consumer Confidence and Richmond Manufacturing Index data released overnight will continue to be digested by global participants.

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

Tags: Pre-Market Stock Market Nifty Sensex Market Update

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