IT stocks rebounded on Wednesday, with TCS, Wipro and Coforge snapping an eight-session losing streak. The Nifty IT index rose nearly 3%, aided by a stronger US dollar and higher US bond yields, though brokerages remain cautious ahead of the Q2 earnings season.
Federal Reserve Governor Michael Barr said elevated energy prices and AI-driven investment are complicating progress toward the 2% inflation target. He indicated further rate increases may be needed, while noting resilient employment and stronger growth. Markets expect another 25-basis-point hike in October as policymakers balance inflation risks against labour-market conditions.
India’s IPO market is on track for another strong year after raising over $13 billion so far, including a record $9 billion in the third quarter. Large deals and strong domestic demand support the pipeline, with numerous companies awaiting approvals. However, market volatility, investor selectivity and valuations could influence upcoming issuance and timing.
Japan’s Nikkei rose 1.3% on Wednesday, led by AI and semiconductor stocks, while banking and shipping shares also advanced. SoftBank, Tokyo Electron and Advantest gained, though overall market breadth remained weak.
Gold and silver prices rebounded on the MCX on Wednesday, snapping a three-day losing streak as investors awaited US inflation data and the Federal Reserve’s policy cues. Expectations of higher interest rates continued to weigh on bullion demand. Traders are also tracking the US nonfarm payrolls report, while analysts advise caution amid market volatility and outline key support and resistance levels for gold and silver.
Indian equities face continued pressure from global uncertainty, crude prices and foreign investor outflows, but analysts see domestic resilience and moderating valuations providing support. The Nifty has become relatively cheaper after its recent correction, with earnings still growing. However, the near-term outlook hinges on the index holding 22,600 and attracting sustained buying to prevent an eighth consecutive weekly decline.
Cupid shares surged 7% after entering the Nifty Smallcap 250 index, extending gains to 16% in two sessions. The company has raised FY27 revenue and profit guidance following strong quarterly growth. Nuvama estimates around $10 million in potential inflows, while Cupid targets continued expansion across healthcare exports and consumer businesses.
Indian shares traded mixed as easing oil prices supported sentiment, while surging US bond yields kept investors cautious. Sensex gained around 130 points, while Nifty slipped below 22,700 amid weak global cues.
Power Mech Projects shares gained after securing a Rs 549.37-crore O&M order from Moxie Power Generation for its 2x600 MW Tuticorin thermal power plant, with the contract spanning five years.
Inox Clean Energy has filed its DRHP for a Rs 10,000 crore IPO with Sebi. The issue includes a Rs 8,000 crore fresh share sale and Rs 2,000 crore OFS. The company has a 9.29 GW renewable power portfolio and 6 GW solar module manufacturing capacity across India and the US.
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