Indian IT stocks rallied in early trade on Friday, with the Nifty IT index up 3.27% and names such as LTIMindtree and Coforge rising about 4% to 5%. The move tracked broader gains in global tech shares after Nvidia’s upbeat revenue outlook revived optimism around AI investment. Investors are also watching Federal Reserve Chair Kevin Warsh’s scheduled remarks at Jackson Hole for signals on inflation and the interest-rate path. Interest-rate futures currently imply roughly a 35% chance of a Fed hike at the September meeting.

Foreign investors were net sellers of Indian equities by ₹298 crore on Thursday, ending a three-session buying streak. Domestic institutions bucked the trend with net purchases of nearly ₹5,000 crore. The Sensex and Nifty closed lower, weighed by declines in Reliance Industries’ finance unit and weakness in Bharti Airtel following remarks linked to Temasek. Some financial and jewellery stocks saw swings on expectations of policy changes.

Asian stocks rose on Thursday after Nvidia’s strong sales forecast buoyed confidence in the AI rally. South Korea’s Kospi led regional gains, jumping 2.22%, while the MSCI Asia Pacific index added 0.6%. Japan’s Nikkei 225 rose 0.41% and the Topix gained 0.32%. U.S. equity futures also advanced, with Nasdaq 100 futures up 1.2% and S&P 500 futures higher by 0.6%.

Foreign institutional investors were net buyers of Indian equities for a second consecutive session on Tuesday, with net purchases of ₹1,593.53 crore. Domestic institutional investors also stayed on the buying side, recording net purchases of ₹230.26 crore. Nifty ended the August series 1.5% higher at a two-week high after a sharp late-session rebound. Shriram Finance, IndiGo, Vodafone Idea, Paytm and IREDA rose, while Federal Bank slipped 3% on acquisition talk.

With the S&P 500’s second-quarter reporting season nearing its end, a surge in profits tied to AI-related companies has lifted expected year-over-year earnings growth for index constituents to 52%. Technology-sector profits are estimated to have jumped 74%. Excluding gains from stakes in AI companies, second-quarter profit growth would be about 33%, versus 22.3% in the first quarter on the same basis.

Crude oil prices climbed 8% to 9% in August, nearing $92 a barrel, as US-Iran tensions and concerns over supply disruptions in the Strait of Hormuz lifted market worries. Hyundai Motor India said it will raise prices by as much as 1% across its model range starting September 2026, drawing investor attention.

BHP posted full-year underlying profit of $13.2 billion, up 30% from a year earlier, beating expectations as copper and iron ore prices improved. Copper revenue made up more than half of group revenue for the first time, helped by a 35% jump in realised copper prices. The miner set a target of 3% to 4% copper equivalent growth per year through 2035, about double consensus expectations.

Hindustan Copper shares rose more than 7% in intraday trade on 17 August as global copper spot prices approached a record high. The London Metal Exchange’s cash copper contract traded at a premium of $518.50 a tonne over the three-month contract, signalling near-term supply tightness. Copper prices are up nearly 16% so far this year, supporting gains in mining stocks.

US stocks opened mixed on Friday, with the S&P 500 near flat after closing at a record high in the previous session. July retail sales fell 0.6% month over month, far weaker than expectations for a 0.1% increase. Easing worries over inflation and interest rates helped lift technology and communication services, pushing the Nasdaq Composite up 0.2%. The Dow Jones Industrial Average slipped 0.1%.