Trump's H-1B visa fee hike to GST 2.0: These five factors to dominate Indian stock market this week
Indian stock market next week: Market may open with a positive bias on Monday, led by strong global cues, bullish technicals above 25,000, and rotational interest in banks, realty, and consumption stocks, though profit booking is likely at higher levels.
Indian benchmarks – Sensex and Nifty 50 – snapped their three-day winning streak on the back of profit booking and subdued global cues, on Friday.
The Sensex closed at 82,626.23, down 388 points or 0.47 per cent, while the Nifty 50 ended 97 points lower at 25,327.05, a decline of 0.38 per cent. Among the broader markets, the BSE Midcap index edged down 0.09 per cent, whereas the Smallcap index managed to gain 0.16 per cent.
“Markets slipped after the recent gains and ended marginally lower as profit-taking took center stage. The Nifty declined by about 0.4% to settle at 25,327.05, as investors locked in profits ahead of the weekend in the absence of fresh positive policy cues. With major events now behind us, the focus will shift to sectors likely to benefit from the recently announced GST reforms as the festive season begins. In addition, any change in stance from FIIs in the cash market following the recent Fed rate cut will be closely tracked,” said Ajit Mishra – SVP, Research, Religare Broking Ltd.
Top five triggers that may dictate Dalal Street
Trump’s H-1B visa fee hike
US President Donald Trump issued a proclamation on Saturday introducing a new fee for H-1B visas, which are designed for high-skilled roles that many tech firms fill with foreign talent.
Under the new rule, companies will now be required to pay $100,000 for each H-1B visa, a measure that could heavily affect the technology industry, which often hires professionals from countries such as India and China. The fee will take effect starting Sunday, September 21.
GST 2.0
The Goods and Services Tax (GST) framework is scheduled for a significant overhaul starting Monday, September 22, 2025. Based on the recommendations of the 56th GST Council meeting chaired earlier this month by Union Finance Minister Nirmala Sitharaman, the government has unveiled a simplified tax structure.
Under the new system, GST will shift to a two-tier structure, with most goods and services being taxed at either 5 per cent or 18 per cent.
India-US trade deal
Union Commerce and Industry Minister Piyush Goyal is set to lead a delegation to the United States on Monday, September 22, as momentum builds around India-US trade negotiations.
The trip follows recent daylong talks in New Delhi between US Chief Negotiator Brendan Lynch and India’s Rajesh Agrawal regarding the proposed bilateral trade pact.
According to reports, the team will include special secretary and chief negotiator Rajesh Agrawal and is also scheduled to visit New York for talks with U.S. officials.
FII Activity
On Friday, September 19, foreign institutional investors (FIIs/FPIs) emerged as net buyers of Indian equities worth ₹390 crore. Domestic institutional investors (DIIs) also sustained their buying momentum, making net purchases of ₹2,105 crore, according to provisional data from the exchanges.
DIIs bought shares worth ₹14,840 crore and sold shares amounting to ₹12,735 crore. Meanwhile, FIIs purchased equities worth ₹37,090 crore while offloading shares worth ₹36,700 crore.
Gold prices
Gold prices broke their three-day losing streak on Friday, bouncing back by ₹572 to ₹1,09,624 per 10 grams in the domestic futures market. The rebound was supported by value buying and positive global cues following the US Federal Reserve’s rate cut.
On the Multi Commodity Exchange (MCX), October gold futures rose ₹572, or 0.52 per cent, to ₹1,09,624 per 10 grams with a turnover of 12,685 lots. Likewise, the December contract gained ₹516, or 0.47 per cent, to settle at ₹1,10,650 per 10 grams.
In global markets, December gold futures climbed by $13.40, or 0.36 per cent, to $3,691.70 per ounce, while silver futures advanced 1.22 per cent to $42.67 per ounce.
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