The Indian benchmark indices, the BSE Sensex and the NSE Nifty, are poised for a positive start on Wednesday, tracking firm cues from the global markets as the American inflation print bolstered hopes for an interest rate cut by the U.S. Federal Reserve in September. Investors will also react to domestic retail inflation data, measured by the Consumer Price Index (CPI), which dropped to an eight-year low of 1.55% in July, falling well within the Reserve Bank of India’s (RBI) target range of 2-6%.

At 8:10 AM, the GIFT Nifty index was trading 130 points, or 0.53%, higher at 24,633, indicating a sharp gap-up opening for the Indian share markets.

On Tuesday, India's benchmark indices ended lower in choppy trade, as investors turned jittery ahead of the critical domestic and U.S. inflation readings. After moving marginally higher in range-bound trade for most of the session, the BSE Sensex settled 368.49 points lower at 80,235.59 amid a spurt in selling in the final hour of trade. The NSE Nifty50 ended 97.65 points, or 0.4%, lower at 24,487.40.

U.S. stocks hit record high as inflation fuels hopes for rate cut

In overnight trade, Wall Street extended its gaining streak, with the benchmark indices, the S&P 500 and the Nasdaq, hitting fresh record closing highs. Sentiment was lifted after the July inflation print was broadly in line with expectations, raising hopes for an interest rate cut by the U.S. Federal Reserve next month.

CPI rose 0.2% in July after June’s 0.3% increase, according to data released by the U.S. Bureau of Labor Statistics on Tuesday.

The Dow Jones Industrial Average rose 1.10%, the S&P 500 surged 1.13%, and the Nasdaq Composite advanced 1.39%.

Asian stocks rally on Fed rate cut hopes

Equity markets in the Asia-Pacific region witnessed a strong rally on Wednesday, tracking firm cues from Wall Street, as in-line U.S. inflation data fuelled hopes for a rate cut by the Federal Reserve in September. Sentiment was further bolstered after U.S. President Donald Trump extended a tariff truce with China for another 90 days, easing trade tensions between the world’s two largest economies.

Japan’s Nikkei 225 rallied over 1.3% to hit a fresh record high, followed by Hong Kong’s Hang Seng, Taiwan Weighted Index, and Indonesia’s Jakarta Composite, which surged over 1% each.

Among others, South Korea’s KOSPI was up 0.6%, Singapore’s Straits Times jumped 0.9%, and China’s Shanghai Composite gained 0.2%. In contrast, Australia’s ASX 200 was down 0.5% in the final hour of trade.

Stocks to watch today

Q1 results: BPCL, CSB Bank, IRCTC, Vishal Mega Mart, Godrej Industries, United Spirits, Aditya Birla Fashion and Retail, Jubilant FoodWorks, Firstcry parent Brainbees Solutions, Anthem Biosciences, Engineers India, Hindustan Copper, Kalpataru, Samvardhana Motherson International, Muthoot Finance, Nuvama Wealth Management, Pfizer, Samhi Hotels, Texmaco Rail & Engineering, TVS Electronics, and others are set to release their June quarter results today.

National Securities Depository (NSDL): The consolidated profit of the newly listed company grew 15.2% year-on-year (YoY) to ₹89.6 crore, while revenue fell 7.5% to ₹312 crore in Q1 FY26.

Apollo Hospitals Enterprise: The healthcare firm’s consolidated profit zoomed 41.8% to ₹432.8 crore in the June quarter of FY26 from ₹305.2 crore in the year-ago period, while revenue grew 14.9% to ₹584.2 crore from ₹508.6 crore in Q1FY25.

FSN E-Commerce Ventures (Nykaa): The company's consolidated profit surged 79.4% to ₹24.5 crore from ₹13.6 crore, while revenue jumped 23.4% to ₹2,154.9 crore from ₹1,746.1 crore.

Honasa Consumer: The parent of Mamaearth saw its consolidated profit increasing by 2.6% to ₹41.3 crore from ₹40.3 crore, while revenue grew 7.4% to ₹595.3 crore from ₹554 crore.

Suzlon Energy: The wind turbine maker’s consolidated profit rose 7.3% to ₹324.3 crore from ₹302.3 crore, with revenue spiking 55% to ₹3,131.7 crore from ₹2,021.6 crore.

Jindal Steel and Power: The profit of JSW group flagship increased 11.8% to ₹1,496 crore from ₹1,337.8 crore, even as revenue fell 9.7% to ₹12,294.5 crore from ₹13,617.8 crore.

Oil India: The PSU reported a marginal rise of 0.56% in its profit to ₹1,896.4 crore from ₹1,885.8 crore in Q1FY25, while revenue declined 2.4% to ₹7,928.7 crore from ₹8,120.2 crore.

NHPC: The profit rose 4.2% to ₹1,065 crore from ₹1,021.8 crore, with revenue growing 19.3% to ₹3,213.8 crore from ₹2,694.2 crore.

Paytm: Vijay Shekhar Sharma-led Paytm Payments Services Ltd (PPSL), a wholly-owned subsidiary of One 97 Communications Ltd, has received in-principle authorisation from the Reserve Bank of India (RBI) to operate as an online payment aggregator under the Payment and Settlement Systems Act, 2007.

Vodafone Idea: The telecom company has signed a power purchase agreement and a share purchase agreement to acquire up to a 26% stake in Aditya Birla Renewables SPV 3, a special purpose vehicle created to own and operate a captive power plant.

Motilal Oswal Financial Services: The company has invested ₹400 crore to acquire 7.54 crore compulsorily convertible preference shares of Zepto (formerly Kiranakart Technologies).

Radico Khaitan: The company's board has approved a strategic investment and partnership, involving the acquisition of a 47.5% equity stake each in D’YAVOL Spirits BV and D’YAVOL Spirits for a total consideration of ₹40 crore.

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