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Asia

Asian stocks climbed on Thursday, driven by a surge in China's AI sector and reports of mergers and acquisitions in Japan's tech industry, which helped counterbalance the impact of strong U.S. inflation data. The Gift Nifty suggests a positive start for Indian markets.

US & Europe

The S&P 500 closed lower on Wednesday following a higher-thanexpected U.S. inflation report, which fueled concerns that the Federal Reserve might delay interest rate cuts. Meanwhile, CVS Health and Gilead Sciences saw gains after positive quarterly results. In Europe, shares reached a record high as investors welcomed earnings reports from Heineken and ABN AMRO, despite lingering caution over U.S. inflation data and trade policies.

Commodities

Oil prices declined on Wednesday following an industry report indicating a rise in U.S. crude inventories and concerns over tariffs, which offset three days of gains fueled by escalating Middle East tensions and stricter sanctions. Gold prices remained stable on Wednesday, supported by safe-haven demand amid fears of a global trade war triggered by U.S. President Donald Trump's new tariffs, as the market absorbed higher-than-expected U.S. inflation data.

* Events today: US monthly budget statement/Japan PPI, UK GDP growth rate/ trade balance, IEA oil market report, US PPI/ initial & continuing jobless claims.

* Earnings today: Hindalco Industries, Ipca Laboratories, Afcons Infrastructure, Allcargo Logistics, Concord Biotech, Deepak Nitrite, Manappuram Finance.

* Exchange debut: Readymix Construction Machinery, Solarium Green Energy.

* Ex-date: Eris Lifesciences, NHPC, Page Industries, Sun TV Network. (Dividend)

* Tata Power Renewable Energy, has signed a nonbinding Memorandum of Understanding (MoU) with ONGC to explore joint opportunities in the battery energy storage system.

* RailTel has received work orders worth Rs 123.13 crore from the State Project Director (SPD) Bihar

Nifty Outlook

Yesterday, we had refrained from charting out a course beyond 22800, as our expectation towards a collapse beyond the same was low. The bounce off this region, which also coincided with the bollinger band lower extremity, normally would not have excited us, but for the dragon fly pattern formed thereof. This encourages us to extend our upside target to 23430. Alternatively, inability to push above 23220 or inability to float above 23000 could deflate the upside momentum.

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