The Indian equity indices are likely to open on a tepid note after tracking mixed global cues. After hitting fresh record highs, Wall Street’s momentum has cooled off as investors have turned cautious surrounding AI spending. Even the US Federal Reserve’s statement of further rate cuts would be unlikely in December, which also swung the market mood. 

Asian markets, on the other hand, were trading mixed after the presidents of the US and China met in South Korea after 12 months to discuss trade deals. Though a final deal has not been signed, a consensus between both countries has been reached, especially about rare earth metals. 

Japan’s Nikkei 225 maintained its upward swing, rising 1.7% to hit a fresh high of 52,391.45, while South Korea’s KOSPI also added 0.58%. The Shanghai Composite and the Hang Seng were in the negative, each declining by around half a per cent, as investors’ sentiment wobbled on no definite conclusion stemming from the Trump-Jinping meet. Even Singapore’s Straits Times was down by 0.15%. 

Wall Street closed in the red, as tech stocks like Nvidia, AMD, Tesla, and Meta shares plunged up to 11% amid worries around the AI growth. The tech constituent-Nasdaq Composite, ended lower by 377.33 points, or 1.57%, at 23,581.14. The S&P 500 declined 68.25 points, or 0.99%, to 6,822.34, and the Dow Jones Industrial Average dropped by 109.88 points, or 0.23%, to 47,522.12. 

Tracking these cues, the Gift Nifty futures index indicated a flat to negative start for the Indian bourses. At 8:20 am, the futures index was trading at a discount of 12 points or 0.05%, at 26,030. 

The Nifty closed at 25,877.85 - down 176.05 points or 0.68%, and the Sensex ended at 84,404.46, down by 592.67 points or 0.70% in Thursday’s trade. 

Stocks in focus:

Q2 results announcements today - Maruti Suzuki India, Bharat Electronics , Shriram Finance, Vedanta, Bharat Petroleum Corporation, Bank of Baroda, Bajaj Electricals, Godrej Consumer Products, GAIL India, Dr Lal PathLabs, Patanjali Foods, and Phoenix Mills 

Swiggy - As per reports, the company plans to raise $1.5 billion via QIP. It has reported a loss of ₹1,092 crore in Q2FY2025, more than last year's loss of ₹626 crore. Revenue increased 54.4% from last year's quarter in review to ₹5,561 crore. 

Motilal Oswal Financial Services - The company reported its highest-ever operating PAT of ₹554 crore in the second quarter of FY26, and it grew 11% in the first half of FY26 to ₹1088 crore, led by strong growth in asset management, private wealth and capital markets. 

Reliance Industries - The company, through Reliance Intelligence Limited, and Google announced an expansive strategic partnership to accelerate the adoption of Artificial Intelligence (AI) across India — empowering consumers, enterprises, and developers in line with Reliance’s AI for All vision. Google, in partnership with Reliance Intelligence, will begin rolling out Google’s AI Pro plan with the latest version of Google Gemini to eligible Jio users free of charge for 18 months.

Tata Consultancy Services - TCS has entered a five-year partnership with Tata Motors to accelerate the company’s sustainability efforts. Tata Motors’ sustainability platform, Prakriti, powered by the AI-driven TCS Intelligent Urban Exchange (IUX), will digitise ESG data and enable real-time monitoring, automated ESG compliance reporting, and data-driven sustainability insights, strengthening Tata Motors’ ability to drive measurable environmental impact across its operations and reporting across all its plants.

Bharat Electronics - BEL has secured additional orders worth Rs. 732 Crore since the last disclosure on 22nd October 2025. Major orders received include Software Defined Radios (SDRs), tank sub systems, communication equipment, missile components, financial management software, cyber security solutions, upgrades, spares, services, etc.

Indian Energy Exchange - The shares were under pressure as IEX faces regulatory challenges with an ongoing case against CERC's market coupling directive. The exchange reported a profit growth of 13.9% to ₹123.3 crore, and revenue also increased 10.4% to ₹153.9 crore on a year-on-year basis