On Thursday, November 20, equity benchmark indices — the Sensex and Nifty 50 — are expected to open higher, following gains in global markets after Nvidia earnings fueled a rally in global AI chip stocks.
Trends on the GIFT Nifty indicate a positive start, with the index trading 95 points higher at 26,148 around 7:22 AM.
In early trade, the majority of the Asian markets traded higher, with the Nikkei reclaiming the 50,000 level, while the US stock market gained overnight, led by tech stocks.
On Wednesday, November 19, Foreign Institutional Investors (FIIs) were net buyers, buying equities worth ₹1,580.72 crore. Domestic Institutional Investors (DIIs) continued their positive stance, buying equities worth ₹1,360.27 crore, marking their 19th consecutive session of net inflows.
Indian equity indices closed higher on Wednesday, November 19, after recovering from intraday lows, supported mainly by a strong rally in IT stocks. Infosys led the gains ahead of its ₹18,000 crore share buyback opening on Thursday, driving the Nifty IT index nearly 3% higher. The Nifty 50 rose 142.6 points to 26,052.65, and the Sensex gained 513.45 points to 85,186.47, while India VIX slipped below 12. Seven of eleven sectoral indices ended in the red, and broader markets were mixed, with the Nifty Midcap 100 up and the Nifty Smallcap 100 down.
Infosys will open its buyback window on November 20, 2025, at a price of ₹1,800 per share, a 21% premium to Tuesday’s close, with promoters holding 13.05% opting out. This marks the company’s fifth buyback, approved by the board in September.
US stocks edged higher on Wednesday after a volatile session, with technology counters leading the move ahead of Nvidia’s earnings. The Dow Jones Industrial Average gained 47.03 points, or 0.10%, to close at 46,138.77. The S&P 500 advanced 24.84 points, or 0.38%, finishing at 6,642.16, while the Nasdaq Composite added 131.38 points, or 0.59%, ending the day at 22,564.23.
Federal Reserve minutes indicated that most policymakers favour additional rate cuts, though some members were reluctant to commit to lowering rates at the December meeting. Several officials suggested it may be suitable to keep policy unchanged for the remainder of the year, pointing to differing views within the Fed.
On the economic front, the US trade deficit narrowed sharply by nearly 24% to $59.6 billion in August from $78.2 billion in July. Imports declined 5% to $340.4 billion, while exports rose slightly by 0.1% to $280.8 billion.
Nvidia's Q3 numbers lifted sentiment further. The company posted a profit of $31.9 billion, or $1.30 per share, for the quarter ending October 2025, marking a 65% rise from a year ago. Revenue for the period increased 62% to $57 billion. For Q4, Nvidia projected sales of $65 billion, plus or minus 2%, compared with Street estimates of $61.66 billion. It also guided for an adjusted gross margin of 75%, with a variation of 50 basis points.
In Asia, China’s central bank maintained its benchmark lending rates for the sixth straight month. The one-year LPR stayed at 3.0%, and the five-year LPR remained at 3.5%, in line with expectations.
Japanese government bonds continued to weaken, pushing yields to multi-year highs. The 10-year JGB yield climbed 3 bps to 1.795% after briefly touching 1.8%, a level last seen in June 2008. The two-year yield rose to 0.95%, up 2.5 bps, while the five-year yield increased 4 bps to 1.300%. The yen hovered near a 10-month low against the US dollar and hit a fresh record low versus the euro.
Gold prices extended gains, continuing to claw back losses after its recent drop, showing demand for the precious metal remains strong. Gold price rose 0.8% to $4,109.12 an ounce, after having risen 0.3% in the previous session.
Crude oil prices traded higher. Brent crude oil rose 0.38% to $63.73 a barrel, while the US West Texas Intermediate (WTI) crude futures gained 0.39% to $59.67
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