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Shares of state-run Rail Vikas Nigam Ltd. (RVNL) and rolling stock maker Texmaco Rail & Engineering Ltd. will be in focus on Thursday, August 28, after Texmaco announced the formation of a joint venture with RVNL to strengthen India’s railway modernisation and export competitiveness.

According to Bloomberg data, the MSCI India Index has gained 1.3% year-to-date in dollar terms, while the broader MSCI Emerging Markets (EM) Index has rallied 19.5% over the same period. The 18-percentage-point gap marks India’s weakest relative performance since 1995, when the difference stood at 25 percentage points

Government sources have sought to downplay concerns over the impact of fresh US tariffs, telling CNBC-TV18 that India’s exports are “quite diversified” and that there is no need for panic.

The sources described the current situation as a “temporary phase” in a long-term relationship, noting that communication channels between New Delhi and Washington remain open to resolve tariff-related issues.

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The Bank of Korea kept its policy rate unchanged, holding off on resuming an easing cycle until it sees clearer signs that financial imbalances from housing, lending and currency markets are stabilizing.

Gold was steady after a two-day gain on concern over the independence of the Federal Reserve and inflation risks in the US.  Fed Governor Lisa Cook vowed to fight President Donald Trump’s move to fire her due to allegations that she falsified mortgage documents. Her lawyer said the attempt to oust her “lacks any factual or legal basis.

If Indians don’t budge on the trade deal, then I don’t think the President will, Kevin Hassett White House National Eco Council Dir says

The GIFT Nifty, an early indicator of how Indian equites are likely to begin trading, is pointing to further pressure at the start of the monthly expiry session.

Early ticks are indicating a gap down start of almost 90 points for the benchmark Nifty 50, which means, that not only 24,700, even 24,600 levels on the downside are under threat.

– Nifty closed below its 20-DMA of 24,737

– Tuesday’s low of 24,689 becomes the first level to defend

– Below that, intraday lows of August 13, 14 of 24,596 and 24,535 open up

– Nifty closed below its 20-DMA of 24,737

– Tuesday’s low of 24,689 becomes the first level to defend

– Below that, intraday lows of August 13, 14 of 24,596 and 24,535 open up

The index walks into the expiry session after a sharp sell-off on Tuesday.

Not only did it close at a three-month low, but also below its 20-DMA of 24,737, a level it defended for a better part of the session, barring the final 30 minutes.

With this, the index has also given up all the gains for the August series.

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Indian indices will resume trading today after the mid-week holiday.

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