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2h ago

Indian Stocks Edge Higher After H‑1B Fee Sell‑Off as GST Cuts Buoy Domestic Themes

A White House clarification that the $100,000 charge is a one‑time levy for new H‑1B applicants tempered investor anxiety.

U.S. dollar banknotes are seen in this illustration taken March 19, 2025. REUTERS/Dado Ruvic/Illustration/File Photo
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American flags are displayed on screens on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., September 22, 2025. REUTERS/Jeenah Moon

Overview

  • Benchmarks dropped on Monday with the Sensex down 466 points and the Nifty off 125 as IT shares led a broad decline following the visa fee announcement.
  • Nifty IT fell roughly 2.7%, with Tech Mahindra sliding about 3–6% and TCS, Infosys and Wipro down 2–3% on concerns about higher U.S. staffing costs.
  • India’s revised GST rates took effect and analysts highlighted a potential consumption boost, while power and select domestically focused stocks outperformed.
  • On Tuesday, the Nifty and Sensex opened in the green as attention shifted to Commerce Minister Piyush Goyal’s U.S. trade discussions.
  • Flows and global signals remained key, with provisional FPI outflows of about Rs 2,910 crore on Monday offset by DII buying near Rs 2,583 crore and gold near record highs as markets tracked upcoming Fed commentary.