Nifty and Sensex are expected to open higher on upbeat global cues.

Summary: The major indexes on Wall Street soared during the night as data revealed that US producer prices increased in August at a moderate clip.

While Wall Street provided a fair dose of inspiration for Asian markets, which sent conflicting signals, benchmark indices are probably going to open on the upside today. As of 7:37 am, the GIFT Nifty was trading 44.5 points higher, at 25,392.5.

According to Prashanth Tapse, Senior VP (Research), Mehta Equities Ltd., “Nifty and Sensex have hit historic highs at 25,433.35 and 83,116.19, reflecting strong market confidence. Investors remain optimistic, eyeing Nifty's next psychological target of 26,000, driven by FOMO. Key stocks in focus include Bharti Airtel, surging on Wi-Fi service expansion, and steel stocks, buoyed by robust demand as reported by ICRA.”

He further continued, “On the downside, Granules India fell 16 percent after US FDA observations. For traders, Nifty is a buy between 25,200 and 25,300 with targets up to 26,100, while Bank Nifty offers aggressive targets up to 55,000. Jindal Steel & Power remains a top pick for a bullish rebound,”

Investor caution prevailed ahead of the Federal Reserve meeting next week, which caused Asian markets to be mixed on Friday. Meanwhile, South Korea and Australia saw increases, while the Japanese yen strengthened against the dollar, impacting the country's export-heavy companies. The Fed will do all in its power to support the economy by pushing inflation higher, so traders will be on the lookout for any signs that the US may cut interest rates.

The major indices on Wall Street surged overnight after statistics revealed that US producer prices increased moderately in August. Because of investors' expectations for a modest 25 basis point rate decrease by the US Federal Reserve, the Dow Jones closed up 243 points, the S&P 500 gained, and the Nasdaq joined the celebration. Small-cap and tech companies did better, indicating that investors are still keen on industries that display prospects for expansion.

Stocks to focus on:

Wipro: As part of its ADS Restricted Stock Unit Plan, the company has announced stock allotments that may impact investor perceptions of the IT giant's capital management initiatives.

Reliance Industries: Due to input tax credit claims, Reliance has been hit with a tax penalty of Rs 63 lakh. Since the corporation plans to appeal the order, this one needs to be closely monitored for updates.

Power Grid: The company's pipeline of project execution looks solid as Power Grid Corporation has emerged victorious in Gujarat's "augmentation of transformation capacity" project.

HCL Technologies: For EUR 23.9 million, HCL purchased the Paris-based software startup Zeena SAS. The acquisition enhances HCL's range of enterprise software solutions and is consistent with the company's expansion plan in Europe.

Muthoot Capital: To increase its operating liquidity, the NBFC has also issued commercial paper totaling Rs 25 crore. This development may cause enthusiasm in the company's stock.

HG Infra Engineering: This firm has been awarded another significant contract in the infrastructure industry, this time for the construction of a new broad gauge line, valued at Rs 716 crore, by Central Railway.

BLS International: BLS has signed a deal to buy all of Citizenship Invest, a Dubai-based business that specializes in citizenship and residency programs. It is anticipated that this $31 million transaction will expand BLS's global reach.

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