Nvidia blew past expectations after the US bell and Asia is rallying on it — but India starts on the back foot, with GIFT Nifty pointing to a lower open as the Jackson Hole symposium gets under way and sticky US inflation keeps the Fed parked.

US: flat close, fireworks after hours

Wall Street drifted on Wednesday ahead of the main events. Per Business Today, the Dow closed at 53,463.88 (-113.52 pts, -0.21%), the S&P 500 at 7,675.70 (-1.58 pts, -0.02%) and the Nasdaq at 26,130.20 (-21.10 pts, -0.08%). The drag: July core PCE held at 3.3% y/y with headline at 3.7% (Yahoo Finance) — hot enough that odds of a September cut faded further.

Then Nvidia reported. Per its own SEC filing: revenue $96.2bn, up 106% y/y, Data Center $89.0bn (+117%), EPS $2.46, and Q3 guidance of $108bn ±2%. Yahoo Finance reports the stock jumped after hours.

Asia is buying it

• Kospi 6,808.21, +0.97% — chip supply chain leading
• Nikkei 225 66,260.95, +0.64%
• Shanghai Composite 3,912.52, +0.59%
• Hang Seng 25,652.97, +0.56%

Levels per MarketScreener this morning. Europe's prior close was mixed: DAX 26,382.50 (+0.44%) on bank strength, FTSE 100 10,875 (-0.11%) as cheaper oil hit Shell and BP (Trading Economics).

India's lead-in

GIFT Nifty was at 24,461, down 68.10 pts (-0.28%), signalling a soft start (Business Today). Nifty 50 closed Wednesday at 24,207.75 (-0.52%), Sensex at 77,472.94 (-0.24%). The uncomfortable context: Nifty is -7.4% year-to-date while Kospi is up ~62% and Nikkei ~32% (MarketScreener). Watch 24,000-24,100 support, 24,400-24,500 resistance; Sensex monthly expiry may amplify moves.

Commodities, currency, rates

Per Trading Economics (26 Aug): Brent $87.61 (-1.10%) and WTI $81.79 (-0.16%), a third straight decline as Iran-Oman talks eased Strait of Hormuz supply fears — a genuine positive for India's import bill. Gold $4,609.37 (-1.05%) on faded cut hopes. USD/INR 95.33 (+0.23%), rupee softer; dollar index 99.13 (+0.22%) but near three-month lows; US 10-year 4.65%.

On the calendar

No India macro releases today. Friday 28 Aug brings IIP (prior 7.3%, consensus ~6%), manufacturing output, bank loan growth (19.3%), deposit growth (15.4%) and forex reserves (prior $716.91bn). From the US today (Trading Economics): initial jobless claims (cons. 206K), continuing claims (1,799K), goods trade balance (-$101.4bn), wholesale inventories, Kansas Fed manufacturing and a 7-year note auction. Jackson Hole runs 27-29 Aug — Fed Chair Kevin Warsh's first keynote lands Friday 10:00 ET, 19 days before the 16 Sept FOMC. A hawkish Warsh means a firmer dollar and more FPI pressure on Indian equities; a dovish tilt, the reverse.

Stocks in focus

• Bharat Electronics — ₹730 cr of fresh orders since 10 Aug
• ICICI Pru AMC — promoter to sell 2% (₹3,121 cr) for MPS compliance
• Foseco India (15.27%, ₹664.4 cr) and Aye Finance (7.8%, ₹320.4 cr) — block deals
• Vedanta — parent denies stake-sale speculation; PFC trades ex-dividend

What it means for the India open

Tone is mildly risk-on — Nvidia removed the biggest near-term tail risk for the AI trade, and softer crude helps India's macro. But GIFT Nifty says domestic sentiment isn't participating, and few will want size on ahead of Warsh on Friday. Expect a soft open, expiry-driven chop, and rangebound trade unless 24,400 gives way.

As of 08:45 IST, 27 August 2026. Sources: Business Today, Yahoo Finance, Nvidia SEC filing, MarketScreener, Trading Economics, Business Today Stocks in News. All prices as reported by these sources, not live exchange data. Automated pre-market brief for discussion and education only — not investment advice. Verify before acting.