On Monday, September 22, equity benchmark indices Sensex and Nifty 50 are expected to open lower as investor sentiment has been rattled by the US administration’s sudden $100,000 H-1B visa fee hike, which disproportionately affects Indian IT firms that rely heavily on US contracts. At 7:00 AM, the GIFT Nifty was trading near 25,317, down by 118 points.
US President Donald Trump has signed an executive order requiring a $100,000 fee for each new H-1B visa application, effective September 21, 2025, triggering concern among Indian IT professionals and companies who make up 71% of H-1B beneficiaries.
While existing visa holders are exempt, ADR of major Indian IT firm, Infosys fell by 3.4% on margin concerns. The Nifty IT index has already slipped 16% in CY25,
On the other hand, the positive news that the market is likely to latch on to is the implementation of the revised Goods and Services Tax (GST) rates announced earlier by the GST Council. Effective today, Monday, September 22, these new rates are expected to bring down the prices of a majority of products. In a significant move, the GST Council had approved a simplification of the structure—reducing the number of slabs from four to two (5% and 18%), along with a special rate of 40% applicable to select items and sin goods.
Asian markets traded higher, while the US stock market notched a record closing high last week, with the S&P 500 and the Nasdaq posting their third straight week of gains.
On Friday, September 19, Foreign Institutional Investors (FIIs) were net buyers. FIIs bought equities worth ₹390.74 crore for the 2nd consecutive session.
Domestic Institutional Investors (DIIs) were buyers on Friday. They bought shares worth ₹2,105.22 crore on the same day. DIIs have been net buyers for the past 19 consecutive trading sessions.
On Friday, the benchmark indices Nifty 50 and Sensex ended lower as profit-booking weighed on financial and IT stocks. Despite the decline, both indices managed to post their third straight week of gains, supported by a US interest rate cut, GST reforms, and optimism over trade talks with Washington.
The Nifty 50 slipped 0.38% to close at 25,327.05, while the Sensex dropped 0.47% to 82,626.23. On a weekly basis, both benchmarks advanced 0.9%.
US stocks ended higher on Friday with all three major indexes closing at record levels for the second day in a row, while overall market activity surged to its busiest day since April.
The S&P 500 and Nasdaq extended their winning streak to a third consecutive week, buoyed by the Federal Reserve’s first interest rate cut of 2025 announced on Wednesday, along with indications of further easing ahead.
On the day, the Dow Jones Industrial Average rose 172.85 points, or 0.37%, to close at 46,315.27. The S&P 500 added 32.40 points, or 0.49%, finishing at 6,664.36, while the Nasdaq Composite climbed 160.75 points, or 0.72%, to settle at 22,631.48.
Gold edges higher in the early morning Asian session amid a wait-and-see mood. Spot gold is 0.1% higher at $3,687.84/oz.
Oil prices inched up on Monday, supported by geopolitical tension in Europe and the Middle East, although the prospect of more oil supply and concern about the impact of trade tariffs on global fuel demand weighed.
Brent crude futures rose 28 cents, or 0.42%, to $66.96 a barrel while US West Texas Intermediate crude was at $62.88 a barrel, up 20 cents, or 0.32%.
Disclaimer: The article is for informational purposes only and not investment advice.
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