Indian equities are set for a cautious start today as GIFT Nifty trades 93 points lower at 25,342, tracking mixed global cues. On Wall Street, the S&P 500 (+0.49%) and Nasdaq (+0.72%) hit fresh record highs, supported by technology stocks and optimism over US–China trade talks. However, the US government’s move to impose a one-time $100,000 fee on new H1B visa applications could weigh on Indian IT firms, which are highly exposed to outsourcing business in the US. Bond yields stayed elevated with the US 10-year at 4.13%, its highest in two weeks. Brent Crude hovered near $67, while the Dollar Index remained firm at 97.8, both factors to watch for their impact on currency and inflation dynamics in India. Domestically, focus will remain on IT stocks, banking majors, and foreign fund flows. Traders will also eye global events—Fed Chair Powell’s speech on 23rd Sept and the US Core PCE inflation print on 26th Sept—for cues on the interest rate outlook.

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