Indian Markets Eye Cautious Start; Gold Hits New Record High

Pre-Market Update at 7:30 AM: On Tuesday, September 23, Indian equity benchmark indices Sensex and Nifty 50 are set to open on a cautious note due to persisting concerns over US tariffs and new visa policies. At 7:11 AM, the GIFT Nifty was trading near 25,263, down by 25 points.

External Affairs Minister Dr. S. Jaishankar met US Secretary of State Marco Rubio on the sidelines of the 80th UN General Assembly (UNGA). Rubio reaffirmed Washington’s partnership with New Delhi, stressing continued cooperation to promote a free and open Indo-Pacific region, including through the Quad.

India’s eight core infrastructure industries recorded a 13-month peak growth of 6.3 per cent in August 2025, compared with 3.7 per cent in July. In August 2024, output had contracted by 1.5 per cent.

On Monday, September 22, Foreign Institutional Investors (FIIs) were net sellers, offloading equities worth Rs 2,910.09 crore. Domestic Institutional Investors (DIIs) were net buyers, purchasing shares worth Rs 2,582.63 crore. DIIs have been buyers for 20 consecutive trading sessions.

Indian markets extended losses on Monday, pressured by weakness in IT counters following US President Donald Trump’s decision to raise H-1B visa fees to USD 100,000 per worker. Heavy selling in Reliance Industries also added to the decline. The Sensex fell 466.26 points, or 0.56 per cent, to close at 82,159.97 after hitting an intraday low of 81,997.29.

Wall Street ended higher on Monday, with all three major indices closing at record highs for the third straight session. The Dow Jones Industrial Average gained 66.27 points, or 0.14 per cent, to 46,381.54. The S&P 500 rose 29.39 points, or 0.44 per cent, to 6,693.75, while the Nasdaq Composite advanced 157.50 points, or 0.70 per cent, to 22,788.98. Federal Reserve officials indicated caution over the need for additional rate cuts, a week after the Fed reduced interest rates for the first time since December and signalled further cuts ahead.

Gold held steady in early Asian trade, supported by expectations of more US Fed rate cuts. Spot gold was flat at USD 3,747.22 per ounce. On Monday, MCX gold futures gained 2.17 per cent to close at a record Rs 1,12,295 per 10 grams.

WTI crude oil futures traded at USD 62.2 per barrel, while Brent crude stood at USD 66.5 per barrel. Prices steadied after a four-session decline as markets balanced concerns over supply glut with risks linked to Russian oil.

For today, Sammaan Capital, Angel One and HFCL will remain on the F&O ban list.

Disclaimer: The article is for informational purposes only and not investment advice.