Equity Alert
Indices seen in range; Infosys in focus on buyback plans
This story was originally published at 08:13 IST on 11 September 2025
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Equity Alert: Indices seen in range; Infosys in focus on buyback plans
MUMBAI--0755 IST--Benchmark indices are likely to be in range as market participants wait for corporate earnings to improve at a time when tariffs from the US may hurt growth. However, sentiment is likely to be positive as the Nifty 50 has risen for six straight sessions and analysts said foreign investors may cover their short positions if the Nifty 50 crosses 25000-25100 points.
Short covering is expected to drive the Nifty 50 index higher in the coming sessions, analysts said. Foreign institutional investors had short positions of $4.02 billion till Tuesday, data from Nuvama Wealth Management showed. It is possible for the Nifty 50 to rise sharply in the coming sessions if foreign investors cover their short postions.
GIFT Nifty futures suggest the Nifty 50 is likely to make another attempt at crossing 25000 points. Wednesday, the Nifty 50 had crossed 25000 level briefly intraday after two weeks but lost some gains to end the session at 24973.10 points. At 0752 IST, GIFT Nifty September contracts traded at 25084 points, marginally higher compared with previous close but up 0.4% from Nifty 50's close on Wednesday.
Global markets were largely mixed with US indices posting either minor gains or slight decline due to high valuation. The Producer Price Index in the US unexpectedly fell 0.1% in August compared with July. Economists had expected it to rise 0.3%, according to Dow Jones.
Expectations of rate cut in the US helped indices in Asia to largely maintain gains in early trade Wednesday. Most of the indices including those in Japan, China, and Taiwan were up. Hong Kong's Hang Seng index snapped a four-session winning run and it was down nearly 1%.
Information technology companies will be under focus as Infosys is scheduled to announce buy back of shares. The company is likely to buy back around 12-13% of its total paid-up share capital, an analyst tracking the sector at a domestic brokerage has said when the buyback plans were announced on Monday. This means Infosys may buy backs shares worth INR 105 billion-INR 114 billion, a back-of-the-envelope calculation showed. (Anshul Choudhary)
Equity Alert: S&P 500, Nasdaq at record highs on weak inflation; Oracle gains
MUMBAI--0743 IST--The S&P 500 and Nasdaq Composite closed at record highs Wednesday after a surge in shares of technology major Oracle. However, all three benchmark indices pared early gains and ended mixed. A lower-than-expected producer price index print drove expectations of the US Federal Reserve cutting interest rates next week.
The S&P 500 and Nasdaq Composite notched record closes for the second straight day. Chipmakers and artificial intelligence-related stocks were among the biggest gainers on the day after Oracle surged 36% on optimism around demand for its AI-related servers. The stock saw its highest singe-day gain since 1992 and gained $244 billion in market capitalisation during the session, according to CNBC.
The Dow Jones Industrial Average fell 0.5%, weighed down by a decline in Apple's shares, which fell 3?ter the company's latest iPhone announcement failed to excite investors. The company is also viewed as a laggard in the AI race.
Producer prices in the US fell 0.1% in August, against Dow Jones estimate of a 0.3% rise, data from the Bureau of Labor Statistics showed. This comes after after a downwardly revised 0.7% rise the month before. Coupled with weak US labour market data released earlier in the month, the inflation print supports the case for a rate cut by the Fed. The CME Fedwatch data shows an 8% probability for a 50-bps Fed rate cut, up from 7?ay ago. Market participants await US consumer prices data due on Thursday for further cues on rate cuts.
Among other stocks, shares of Synopsys fell 36?ter the chip design software provider missed estimates for its quarterly revenue. Its rival Cadence Design Systems fell over 6%.
Following are the closing levels of US indices Wednesday:
|
Index |
Level |
Change in % |
|
S&P 500 |
6532.04 |
0.30 |
|
NASDAQ Composite |
21886.06 |
0.03 |
|
Dow Jones Industrial Average |
45490.92 |
(-)0.48 |
(Eshitva Prakash)
US$1 = 88.10
End
Edited by Akul Nishant Akhoury
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