Sensex, Nifty set for a subdued opening amid mixed global cues; Infosys, Wipro, Eternal shares in focus

The Indian benchmark indices are bound for a tepid start, tracking mixed global cues. The US markets closed lower in overnight trade, while the Asian markets also declined. 

US President Donald Trump took to Truth Social to post about his telephonic call with Russian President Vladimir Putin, saying that “it was a very productive one”. Trump said that he would be meeting Putin in Budapest, Hungary, to discuss the ongoing war with Ukraine and trade between the two nations. 

“We also spent a great deal of time talking about Trade between Russia and the United States when the War with Ukraine is over. At the conclusion of the call, we agreed that there will be a meeting of our High Level Advisors next week… President Putin and I will then meet in an agreed-upon location, Budapest, Hungary, to see if we can bring this “inglorious” War between Russia and Ukraine to an end. President Zelenskyy and I will be meeting tomorrow in the Oval Office, where we will discuss my conversation with President Putin and much more. I believe great progress was made with today’s telephone conversation,” the post said. 

Reacting to the news, crude oil and Brent Oil prices fell by 0.30%, currently priced at $57.30 and $60, respectively.

US Federal Reserve Governor, Christopher Waller, also pointed towards a possible rate cut of 100-125 bps amid mixed macro data. “if the labour market continues to soften or even weaken and inflation remains in check, then I believe the FOMC should proceed to reduce the policy rate toward a neutral level, which I judge is about 100 to 125 basis points lower than it is today. The labour market has been sending some clear warnings lately, and we should be ready to act if those warnings are validated by what we learn in the coming weeks and months.”

In terms of international markets, Asian indices were trading lower, except for the South Korean KOSPI, which was up by 0.25%. Japan’s Nikkei 225 is down by 0.80%, while the Shanghai Composite declined 0.69%, and the Hang Seng index saw a sharp fall of 1.44%. Singapore’s Straits Times was also down by 0.46%.

Wall Street closed lower. The Nasdaq Composite dropped 107.54 points, or 0.47%, to 22,562.54, while the S&P 500 declined 41.98 points, or 0.63%, to 6,629.08. The Dow Jones Industrial Average dipped 301.07 points, or 0.65%, to 45,952.24.

The Gift Nifty futures index pointed towards a flat start for the Indian markets. At 8:20 am, the Gift Nifty index was at a premium of only 3 points, or 0.01% at 25,604. Yesterday, the benchmark indices continued their rally for the second consecutive session, making substantial gains. The Sensex surged 862.23 points, or 1.04%, to close at 83,467.66, while the Nifty 50 jumped 261.75 points, or 1.03%, to 25,585.30.

Stocks in focus:

Infosys - IT services major Infosys Ltd has reported a 13% year-on-year (YoY) increase in its net profit at ₹7,364 crore for the July-October quarter of FY2025-26. The IT behemoth's revenue surged 9% to ₹44,490 crore for the said quarter. In constant currency, Infosys delivered $5,076 million in Q2 revenues, year-on-year growth of 2.9% and sequential growth of 2.2%. Its operating margin for Q2 stood at 21%, while free cash flow generation was recorded at $1.1 billion, 131.1% of net profit.

Wipro - The IT company also recorded a positive Q2FY2026 result, with profit increasing by 1.2% to ₹3,246.2 crore from Q2FY2025’s ₹3,208.8 crore. Total revenue grew by 1.8% to ₹22,697.3 crore, while IT services revenue also rose by 2% to ₹22,640.5 crore. 

Jio Financial Services - The Reliance Industries-led financial services company reported that its consolidated total income grew to ₹1,002 crore, up 44% YoY, while net income from business grew 5x YoY to ₹317 crore. The company's net income from business grew 52% of consolidated net total income (ex-dividend), up from 14% in Q2 FY25. The NBFC's assets under management (AUM) stood at Rs. 14,712 crore, up from ₹1,206 crore in Q2 FY25. Its Q2 FY26 profit after tax was ₹695 crore, a marginal increase from ₹689 crore in Q2 FY25.

Eternal - The company posted a strong performance in the September quarter (Q2FY26), led by robust growth across its quick commerce and food delivery businesses. Consolidated adjusted revenue jumped 172% year-on-year (85% sequentially) to ₹13,968 crore, while B2C net order value (NOV) surged 57% YoY to ₹23,164 crore. The company also announced that Blink Commerce Private Limited and Blinkit Foods Limited have entered into business transfer agreement (“BTA”) wherein the quick food service business operated under the brand ‘Bistro by Blinkit’ (“Bistro Business”) shall be transferred from BCPL to BFL for internal restructuring purpose, for an aggregate consideration of ₹57,00,00,000, by way of slump sale. 

JSW Infrastructure -  The company posted a decline in profit by 2.8% to ₹361.2 crore from last year’s ₹371.5 crore, while revenue rose 26.4% to ₹1,265.7 crore from ₹1,001.4 crore.