Barometers nudge higher in early trade, breadth positive

Domestic equity indices opened on a positive note, registering modest gains in early trade, driven by strong performance in IT stocks. The upbeat sentiment was mirrored across Asian markets, which followed overnight gains on Wall Street after U.S. Federal Reserve Chair Jerome Powell signaled a potential interest rate cut next month.

The Nifty traded above the 24,900 level. IT, realty and metal shares advanced, while media, FMCG and healthcare shares corrected.

At 09:27 IST, the barometer index, the S&P BSE Sensex, rose 248.28 points or 0.31% to 81,555.18. The Nifty 50 index gained 72.12 points or 0.29% to 24,943.35.

In the broader market, the S&P BSE Mid-Cap index rose 0.21% and the S&P BSE Small-Cap index added 0.14%.

The market breadth was positive. On the BSE, 1,789 shares rose and 1,349 shares fell. A total of 239 shares were unchanged.

Foreign portfolio investors (FPIs) bought shares worth Rs 1,622.52 crore, while domestic institutional investors (DIIs) were net sellers to the tune of Rs 329.25 crore in the Indian equity market on 22 August 2025, provisional data showed.

Stocks in Spotlight:

GMR Power and Urban Infra added 0.38%. The companys said that its board has approved a fundraising proposal upto Rs 3,000 crore via multiple instruments. The company will issue fully paid-up equity shares, non-convertible debentures along with warrants and/or convertible securities other than warrants and/or any other securities either through qualified institutions placement (QIP) or any other method and/or issue of foreign currency convertible bonds.

Oswal Greentech rose 0.26%. The company announced that it has acquired 4.99% stake in Oswal Agro Mills (OAML) for a total consideration of Rs 50.91 crore. Oswal Greentech is a promoter of OAML, has acquired 66,99,000 shares of OAML with nominal value of Rs 10 each.

Akums Drugs & Pharmaceuticals gained 0.88%. The company has executed a framework agreement with Government of the Republic of Zambia (GRZ) to establish a local manufacturing facility and supply medicines in Zambia. This project shall be implemented through incorporation of a new joint venture company in Zambia in which Akums will be a majority partner owning 51% stake and a nominated Zambian state instrumentality owning 49% stake.

Numbers to Track:

The yield on India's 10-year benchmark federal paper shed 0.09% to 6.543 from the previous close of 6.549.

In the foreign exchange market, the rupee edged higher against the dollar. The partially convertible rupee was hovering at 87.3475 compared with its close of 87.5250 during the previous trading session.

MCX Gold futures for 3 October 2025 settlement shed 0.08% to Rs 1,00,300.

The US Dollar Index (DXY), which tracks the greenback's value against a basket of currencies, was up 0.14% to 97.73.

The United States 10-year bond yield rose 0.21% to 4.269.

In the commodities market, Brent crude for October 2025 settlement gained 4 cents or 0.06% to $67.77 a barrel.

Global Markets:

Markets in Asia advanced across the board on Monday after Federal Reserve Chair Jerome Powell signaled that the central bank could begin easing monetary policy next month.

These comments were made by the US Fed Chair at his widely anticipated annual speech in Jackson Hole, Wyoming.

In a tepid speech at the central banks annual conclave in Jackson Hole, Wyo., Powell said that the baseline outlook and the shifting balance of risks may warrant adjusting our policy stance.

The Fed chief added that "the balance of risks appear to be shifting between the central banks dual mandate of full employment and stable prices. He cited sweeping changes in tax, trade and immigration policies.

On Friday, the Dow Jones Industrial Average rallied to an all-time high Friday after Federal Reserve Chair Jerome Powell signaled the central bank could begin easing monetary policy next month.

The Dow climbed 846.24 points, or 1.89%, reaching a fresh high and closing at a record level of 45,631.74. The S&P 500 rose 1.52% to end at 6,466.91. At its session high, the broad market index came within three points of its record. The Nasdaq Composite gained 1.88% and settled at 21,496.53.

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