Indian stock markets are set for a mixed start on September 1 as strong 7.8% GDP growth balances concerns over rising Brent crude prices. Investors are analyzing major corporate deals from ITC and ONGC alongside recent foreign institutional selling activity.
Indian equity markets are opening with a mix of caution and optimism today. While the country’s economy showed resilience with a 7.8% GDP growth rate in the April-June quarter, global tensions are creating uncertainty. Brent crude prices have climbed toward $91 a barrel due to rising friction between the US and Iran, which is a concern for Indian markets as it can increase the cost of imports and pressure profit margins for many sectors.
Corporate activity remains a key point of interest for investors today. ITC Infotech has announced a significant strategic move, acquiring a 22.1% stake in Happiest Minds for approximately Rs 1,330 crore. The two companies aim to merge their resources to build an AI-first entity, with a target to reach $1 billion in revenue by the 2028 financial year. In the energy sector, Oil and Natural Gas Corporation (ONGC) has unveiled an aggressive capital spending plan of Rs 1 trillion over the next five years. This investment is focused on drilling 87 wells, including deep and ultra-deepwater exploration, to increase long-term production.
Investors are also reviewing the maiden quarterly results of the recently listed Milky Mist Dairy Food. For the first quarter of the 2027 financial year, the company reported a net profit of Rs 64.68 crore on revenue of Rs 973.45 crore, showing a significant jump compared to the same period last year. These results will be important for shareholders to track as the company continues to stabilize following its market entry.
On the technical front, market liquidity remains a topic of discussion. Foreign Institutional Investors (FIIs) sold shares worth Rs 7,985.88 crore in the cash market on August 31. However, it is important to note that FIIs were net buyers for the entire month of August, with a total inflow of Rs 30,919 crore. The market is also experiencing volatility due to the introduction of a new closing auction mechanism for Nifty derivatives, which has caused sharper price swings in major stocks recently. Investors should monitor how the interplay between domestic growth data and external global risks, such as crude oil price changes and foreign investment flows, impacts the market in the coming sessions.