Here's a look at seven key factors that have influenced the Indian stock market recently:

1. GIFT Nifty Signals Positive Start:

On September 18, 2025, GIFT Nifty was trading near 25,497, around 74 points higher than the previous Nifty futures close, hinting at a positive opening for the Indian markets. However, on September 19, 2025, GIFT Nifty was trading near 25,472, around 39 points lower than the previous Nifty futures close, hinting at a potentially negative start for Indian markets.

2. Mixed Cues from Wall Street:

Overnight on September 18, 2025, US equities closed mixed after the Federal Reserve delivered an expected 25-bps rate cut. The Dow Jones Industrial Average gained 260.42 points (0.57%) to close at 46,018.32. The S&P 500 was down by 6.41 points (0.1%), ending at 6,600.35. The Nasdaq Composite was trading lower by 72.63 points (0.32%), finishing at 22,261.33. On September 19, 2025, US stock market indexes closed at record highs on Thursday, a day after the Federal Reserve delivered a 25-basis-point interest rate cut. The Dow Jones Industrial Average gained by 124.10 points (0.27%) to close at 46,142.42. S&P 500 up by 31.61 points (0.48%), ending at 6,631.96. The Nasdaq Composite was trading higher by 209.40 points (0.94%), finishing at 22,470.73.

3. US Federal Reserve Rate Cut:

The US Federal Reserve's decision to cut benchmark interest rates by 25 bps, as expected, has had a positive impact. They also signaled the possibility of two more rate cuts this year.

4. India-US Trade Talk Developments:

Sentiment strengthened after India and the US resumed trade talks. India's Chief Economic Adviser (CEA) V. Anantha Nageswaran anticipates a resolution to the tariff dispute with the US within two months. He also suggested that Washington might roll back the additional 25% tariff imposed on New Delhi for purchasing Russian oil.

5. SEBI's Ruling on Adani Group:

SEBI has cleared Gautam Adani and his group of stock manipulation charges that were raised by Hindenburg Research, a US short-seller. The ruling stated that fund transfers between group companies did not violate regulations.

6. H-1B Visa Fee Hike Impact:

On September 22, 2025, Indian equity benchmark indices, Nifty50 and BSE Sensex, were negatively affected by IT stocks, which plunged following US President Donald Trump's announcement to increase H-1B visa fees to $100,000 per worker. A White House official clarified that the $100,000 H-1B visa fee would apply only to new applicants.

7. Key Index Movements:

• On September 18, 2025, Sensex surged by 313.02 points (0.38%) to close at 82,693.71. Nifty 50 moved up by 91.15 points (0.36%) to settle at 25,330.25.
• On September 19, 2025, Sensex surged by 320.25 points (0.39%) to close at 83,013.96; Nifty 50 moved up by 93.35 points (0.37%) to settle at 25,423.60.
• On September 22, 2025, the NSE Nifty decreased by 124.70 points or 0.49 per cent to 25,202.35. The BSE Sensex declined for the second consecutive day, falling 466.26 points or 0.56 per cent to close at 82,159.97.