Pre-market Update: GIFT Nifty hints at positive start; eyes on inflation, global triggers

Pre-market update: Indian equity markets are likely to open on a positive note on Monday, supported by continued optimism around GST reforms, strong domestic institutional investor (DII) inflows, and mixed global cues. While uncertainty around the reimposition of tariffs by the Trump administration in the US continues to weigh on investor sentiment, market participants are expected to track global trends and foreign institutional investor (FII) activity during the day. At 8:25 AM, GIFT Nifty futures were trading 31.5 points higher at 24,879, indicating a firm start for benchmark indices.

In the week ahead, investors will closely monitor key macroeconomic data and global events, including India and US inflation figures, China’s National People’s Congress (NPC) meeting, the European Central Bank’s (ECB) interest rate decision, and US weekly jobless claims. Any fresh developments on the proposed India-US trade deal will also be keenly watched.

Asian markets opened in the green, with investors awaiting Japan’s final GDP growth numbers for the April–June quarter and China’s August trade data, both due later today. Sentiment was also shaped by weekend reports of Japanese Prime Minister Shigeru Ishiba’s resignation. Japan's Nikkei 225 was last up 1.7 per cent, while South Korea's KOSPI index edged up 0.21 per cent.

US equity markets ended lower on Friday, September 8, as a softer-than-expected jobs report raised fresh concerns over the pace of economic recovery. The S&P 500 declined 0.32 per cent, the Dow Jones Industrial Average fell 0.48 per cent, and the tech-heavy Nasdaq Composite slipped marginally by 0.03 per cent.

Back home, foreign investors turned net sellers last week, offloading equities worth Rs 5,667 crore. However, this was more than offset by strong DII buying worth Rs 13,444 crore, which helped keep overall market sentiment buoyant.

In the primary market, there is no activity lined up in the mainboard segment. However, the SME space remains active. IPOs of Krupalu Metals and Nilachal Carbo Metaclicks open for public subscription today. Meanwhile, Sharvaya Metals, Vigor Plast India, and Vashishtha Luxury Fashion continue their second day of bidding. Austere Systems enters its fourth day of subscription, while Rachit Prints is scheduled to debut on the BSE SME platform.