Here's a breakdown of the key overnight changes impacting the Indian stock market as of September 17, 2025:

1. Gift Nifty:

• Gift Nifty was trading near 25,392, around 61 points higher than the previous Nifty futures close, hinting at a positive start for Indian markets.
• On September 11, 2025, Gift Nifty was trading marginally higher by 0.08%, or 21 points, at 25,094.00, signaling a flat opening for the Indian stock market.

2. US Federal Reserve (US Fed) Rate Cut:

• The Federal Open Market Committee (FOMC) is widely expected to deliver a 25-basis-point rate cut.
• Anticipation of a 25-bps rate cut by the US Federal Reserve drove the Indian stock market rally on Tuesday.
• The US stock market closed lower on Tuesday as investors turned cautious ahead of the Federal Reserve's anticipated interest rate cut.

3. Wall Street Performance:

• US markets closed in the red overnight as investors awaited the expected Fed rate cut.
• The Dow Jones Industrial Average slumped by 125.55 points (0.27%) to close at 45,757.90. The S&P 500 was down by 8.52 points (0.13%), ending at 6,606.76. The Nasdaq Composite was trading lower by 14.79 points (0.07%), finishing at 22,333.96.
• US equities closed higher on Monday, with the S&P 500 and Nasdaq hitting intraday record highs.

4. Asian Markets:

• Asian markets traded lower on Wednesday.
• Asian shares also traded flat, with a mixed performance. Japan's Nikkei and South Korea's Kospi gained, while Hang Seng and Shanghai Composite fell.

5. Gold Prices:

• Spot gold was trading at $3,690.09/oz. US gold futures were trading 0.15 higher at $3,727.30.
• Gold hovered near its record levels, as the uptick was supported by interest rate cut expectations by the Federal Reserve after softer production price data.
• Spot gold was trading 0.1% higher at $3,680.17/oz.

6. Crude Oil Prices:

• Crude oil prices rose further as Ukrainian drone attacks on Russian refineries fueled concerns about potential supply disruptions.
• Brent crude gained by 0.19% to $67.57/barrel. US West Texas Intermediate (WTI) crude was trading 0.17% lower at $63.41/barrel.

7. Domestic Market Performance:

• Indian indices closed in the green on Tuesday: Sensex surged by 594.95 points (0.73%) to close at 82,380.69; Nifty 50 moved up by 169.90 points (0.68%) to settle at 25,239.10.
• On Monday, Indian indices closed in the red: Sensex slumped by 118.96 points (0.15%) to close at 81,785.74; Nifty 50 moved down by 44.80 points (0.18%) to settle at 25,069.20.
• On September 10, Indian indices closed higher. Sensex closed 323.83 points higher at 81,425.15. Nifty gained 104.5 points to 24,973.10, briefly crossing the 25,000 mark intraday.

8. Other Factors:

• Optimism over a potential India–US trade deal drove the Indian stock market rally on Tuesday. India and the US described talks on a proposed bilateral trade pact as “positive and forward-looking” and agreed to intensify efforts to finalize a mutually beneficial agreement at the earliest.
• On September 10, FIIs sold Indian equities worth ₹115 crore, while DIIs were net buyers and bought Indian equities worth ₹5,004 crore.