Indian benchmark indices, Sensex and Nifty, are poised for a flat start, tracking weak cues from Asian peers and persistent concerns about trade tensions. At 8:20 AM, the GIFT Nifty index was trading 7 points higher at 24,697, indicating a flat opening for the Indian share market.

The market may see stock-specific action as many companies are set to announce their quarterly earnings. Investors will closely monitor the outcome of U.S.-Russia diplomatic discussions and potential developments in U.S.-India trade relations, which could provide further directional cues.

On Wednesday, Indian benchmark indices ended higher as sentiment was lifted by a drop in domestic retail inflation, which raised hopes for a revival in discretionary spending. The BSE Sensex ended 304.32 points, or 0.38%, higher at 80,539.91 levels, while the Nifty50 rose 131.95 points, or 0.54%, to settle at 24,619.35 levels. The equity market saw broad-based buying, with the Nifty Midcap 100 and the Nifty SmallCap 100 indices gaining 0.63% and 0.66%, respectively.

Wall Street ends higher on Fed rate cut optimism

The U.S. markets extended their gaining streak on Wednesday amid hopes that the Federal Reserve could lower interest rates in its policy meeting next month. The S&P 500 ended 0.3% higher, while the Nasdaq Composite added 0.1%. The Dow Jones Industrial Average climbed 1%.

The July Consumer Price Index data indicated that President Donald Trump’s tariffs on imports have not fully impacted consumer prices, while investors awaited the wholesale inflation data slated to be released on Thursday.

Asian stocks halt three-day rally

Asian stocks saw some consolidation on Thursday as investors took a breather after three days of extended gains. The equity market in the Asia-Pacific has witnessed a strong rally this week amid growing optimism that the U.S. Fed will cut interest rates for the first time this year at its next meeting in September.

Japan’s Nikkei 225 slumped 1.25%, retreating from its record high, while South Korea’s KOSPI, Singapore’s Straits Times, and Taiwan Weighted Index were moving lower in a narrow range.
On the other hand, China’s Shanghai Composite, Hong Kong’s Hang Seng, and Indonesia’s Jakarta Composite were up with marginal gains. Australia’s ASX 200 also ended 0.74% higher.

Stocks to watch

Q1 results: Ashok Leyland, Vodafone Idea, Indian Oil Corporation, Amara Raja Energy & Mobility, AstraZeneca Pharma India, Glenmark Pharmaceuticals, Patanjali Foods, Inox Wind, Swan Energy, Easy Trip Planners, GE Power India, Hindustan Copper, Inox Green Energy Services, Inox Wind, and Zaggle Prepaid Ocean Services will release their June quarter earnings reports today.

JSW Cement, All Time Plastics: The mainboard IPOs are set to make their debut on the BSE and NSE today.

ICICI Bank: The private sector lender has reduced its minimum account balance requirements, lowering it to ₹15,000 from ₹50,000 for metro and urban branches, ₹7,500 from ₹25,000 for semi-urban branches, and ₹2,500 from ₹10,000 for rural branches.

Infosys: The IT major will acquire a 75% stake in Versent Group, a leading Australian digital transformation solutions provider and wholly owned subsidiary of Telstra Group, for AUD 233.25 million.

Jain Irrigation Systems: The company has secured a ₹135 crore order from MSEDCL under the Magel Tyala Saur Krushi Pump Yojana / PM-KUSUM B Scheme.

Zydus Lifesciences: The drug maker has received a clean outcome from the US FDA after a pre-approval inspection (PAI) at its formulation manufacturing plant in SEZ–II, Ahmedabad, conducted from August 11–13 for three products, focusing on general cGMP compliance.

Bharat Petroleum Corporation: The OMC reported a 140.7% year-on-year (YoY) jump in consolidated net profit to ₹6,839 crore in Q1 FY26, compared to ₹2,841.6 crore in the year-ago period. Revenue, however, fell 0.5% to ₹1,12,551.5 crore from ₹1,13,095 crore in the year ago period.

Aditya Birla Fashion and Retail: The company narrowed its consolidated loss to ₹233.7 crore from ₹237.9 crore, with revenue increasing 9.4% to ₹1,831.5 crore from ₹1,674.2 crore.

United Spirits: The liquor company saw its consolidated net profit fall 14% to ₹417 crore in Q1 FY26, from ₹485 crore in the year ago period, even as revenue increased 9.4% to ₹3,021 crore from ₹2,761 crore.

Indian Railway Catering and Tourism Corporation (IRCTC): The PSU reported a 7.5% increase in consolidated profit to ₹330.7 crore from ₹307.7 crore in Q1 FY25, with revenue up 3.8% to ₹1,159.7 crore from ₹1,117.6 crore.

Vishal Mega Mart: The company posted a 37.2% rise in consolidated profit to ₹206.1 crore from ₹150.1 crore in Q1 FY25, while revenue climbed 21% to ₹3,140.3 crore from ₹2,596.3 crore.

Jubilant Foodworks: The company posted a 60% rise in consolidated net profit to ₹97.2 crore in June quarter of FY26 from ₹60.8 crore, while revenue grew 17% to ₹2,260.9 crore compared to ₹1,933 crore.

MTNL: The state-owned telco reported a wider consolidated loss of ₹943.2 crore in Q1 FY26 versus ₹773.5 crore last year. Revenue plunged 64.2% to ₹65.7 crore from ₹184 crore.

Deepak Nitrite: The company posted a 44.6% decline in consolidated profit to ₹112.2 crore from ₹202.5 crore in Q1 FY25, while revenue fell 12.8% to ₹1,889.9 crore from ₹2,166.8 crore.

Texmaco Rail and Engineering: The firm reported a 50% drop in consolidated net profit to ₹30 crore in Q1 FY26 from ₹59.8 crore in the same period last year. Revenue declined 16.3% to ₹910.6 crore from ₹1,088.2 crore.

Brigade Enterprises: The real estate company saw its consolidated profit rise 79% to ₹150 crore in Q1 FY26 from ₹83.7 crore, while revenue increased 18.9% to ₹1,281.1 crore from ₹1,077.7 crore in the corresponding period last year.

Pfizer: The drug maker posted a 27.2% YoY rise in net profit to ₹191.8 crore in Q1 FY26 from ₹150.7 crore, while revenue grew 7.1% to ₹603 crore from ₹562.9 crore.

Muthoot Finance: The NBFC saw its consolidated profit soar 73.2% YoY to ₹2,016.2 crore from ₹1,164 crore, supported by a 42.8% jump in net interest income to ₹3,933.1 crore from ₹2,753.8 crore in Q1 FY25.

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