The Indian share market is expected to open lower on Wednesday, as Asian markets and Wall Street futures saw a surge in selling activity after the U.S. imposed new restrictions on some chip exports to China. The persistent uncertainties about the global trade scenario, amid flip-flops on tariff policies by the U.S. President Donald Trump’s administration, have rattled global equity markets, deterring investors from taking long-term positions.

At 8:20 AM, the GIFT Nifty futures were down 102.5 points, or 0.44%, at 23,282, indicating a gap-down opening deals for the domestic benchmarks BSE Sensex and NSE Nifty.

On Tuesday, the Indian stock market registered strong rally, with the benchmark indices surging over 2% amid optimism over the prospect of further exemptions on trade tariffs by Trump’s administration. The 30-share Sensex ended higher by 1,577 points, 2.1%, at 76,735, and the Nifty50 rose 500 points, or 2.19%, to reclaim 23,329 level. Outperforming the benchmark indices, the broader market- BSE midcap and smallcap indices - ended higher by 3%. On the BSE Sensex pack, barring ITC and HUL, all other 28 constituents ended in positive terrain, with IndusInd Bank, Tata Motors, L&T, Axis Bank, and Adani Ports emerging as top gainers, rising between 4-7%.

Wall Street ends marginally lower amid tariff uncertainties

Following back-to-back winning sessions, U.S. stocks ended a tad lower on Tuesday as robust earnings report by Bank of America and Citigroup eased persistent concerns about tariff uncertainties. The escalated trade war between the world’s two biggest economies – U.S. and China – also dented sentiments as Beijing, in a fresh development, ordered its airlines not to take further deliveries of Boeing jets in response to the U.S. decision to levy 145% duties on Chinese goods. The Dow Jones Industrial Average ended 0.4% lower, while the S&P 500 fell 0.2%. The tech-heavy Nasdaq Composite ended flat with negative bias.

Asian stocks fall on Nvidia curbs

Share markets in Asia-Pacific region witnessed bearish trend today, mirroring weakness in Wall Street overnight and slump in U.S. equity-index futures in post market-hour activity as trade conflicts between America and China showed no sign of abating. In a new development, U.S. President Donald Trump’s administration has put new restrictions on some chip exports to China, dragging Nvidia Corp shares by over 6% in post market hour trade. Reports also suggest that Trump has also launched a probe into the need for levies on critical minerals. 

Weighed down by the developments, Hong Kong and Taiwan were the worst hit, with Hang Seng and Taiwan Weighted index falling as much as 1.7% and 1.4%, respectively. Japan’s Nikkei 225 declined 0.7% and South Korea’s Kospi fell 0.6%, while Australia’s ASX 200 index closed 0.27% higher. Singapore’s Straits Times was also up 0.15%, while Indonesia’s Jakarta Composite was marginally down by 0.1%. China’s Shanghai Composite dipped 0.6% in early trade.

Stocks to watch

Q4 results: Big players like Wipro, Angel One, Waaree Renewable Technologies, Swaraj Engines, GTPL Hathway will unveil their March quarter results today.

IndusInd Bank: The private lender has informed exchanges that an audit report by an external agency showed ₹1,979 crore of negative impact on its net worth due to discrepancies in its derivative transactions.

Gensol Engineering: The SEBI has issued an interim order against Gensol Engineering and its promoters, Anmol Singh Jaggi and Puneet Singh Jaggi, after finding lapse in financial mismanagement and diversion of funds. Promoters have been barred from holding any directorial or key managerial positions in the company. 

IREDA: The state-run company has posted a 48.7% rise in Q4 net profit to ₹501.6 crore, against ₹337 crore in the year-ago period.

Swiggy: The food delivery major has inked a pact with the Ministry of Labour & Employment to promote job creation in the gig and logistics sectors.

NHPC: The PSU has started commercial operation of Unit-4 (200 MW) of Parbati-II HE Project (4x200 MW) in Himachal Pradesh.

TCS: The Andhra Pradesh Cabinet has approved the allotment of 21.16 acres of land to the company in Vishakhapatnam for a symbolic lease price of 99 paisa.

Vedanta: Cairn Oil & Gas has secured 7 additional blocks in the Open Acreage Licensing Policy (OALP) Round IX auction.

Aster DM Healthcare: The healthcare company has received the Competition Commission of India (CCI) approval to merge with Quality Care India (QCIL).

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