Indian Equities Stay Flat Ahead of Key Trump-Putin Talks
India’s equity benchmarks remained muted on Thursday as investors adopted a cautious stance ahead of scheduled talks between U.S. President Donald Trump and Russian President Vladimir Putin on the Ukraine war. The Nifty 50 edged up 0.03% to 24,626.6, while the BSE Sensex rose 0.09% to 80,605.28 by mid-morning. Nine of the 16 major sectors slipped marginally, with small- and mid-cap indices each down 0.3%.
Infosys gained 1.6% after announcing a $153-million joint venture with Australian telecom giant Telstra, lifting the Nifty IT index by 0.6%. Analysts expect the deal to strengthen Infosys’ telecom vertical and expand its Australian footprint. Jubilant Foodworks rose 2.2% on strong quarterly earnings, while Vishal Mega Mart and Muthoot Finance hit record highs after posting profit growth for the June quarter.
Global cues were mixed, with MSCI’s Asia-Pacific index outside Japan trading flat following a previous session rally on U.S. rate cut hopes. Market participants in India are closely watching Friday’s Trump-Putin meeting in Alaska, which could address secondary tariffs on Indian goods imposed over Russian oil imports. Analysts say any breakthrough could boost sentiment and trigger a sharp rebound in domestic markets.
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