Avinash Shekhar, Co-Founder & CEO, Pi42

"The crypto market remains cautious despite US inflation coming broadly in line with expectations. Bitcoin has slipped towards the $63,500 level as traders increasingly look beyond CPI towards the Federal Reserve's next signals and upcoming labour data. The weakness is also visible across major altcoins, with XRP testing the crucial $1 support zone and Ethereum hovering below $1,900. At the same time, Ethereum's evolving technical roadmap, with greater emphasis on scalability, privacy and quantum security, continues to strengthen the longer-term development narrative even as near-term price momentum remains muted.

Investor positioning also deserves attention. Dogecoin futures open interest has risen to around $1.21 billion even as the token trades near $0.07, suggesting speculative activity is rebuilding faster than price strength. Such crowded positioning can amplify moves in either direction. Investors should therefore avoid chasing short-term rallies or using excessive leverage, focus on disciplined position sizing and staggered entries, and closely track key support levels alongside macro signals. Until Bitcoin establishes stronger momentum above recent trading ranges, capital preservation and selective exposure to assets with stronger fundamentals may be preferable to aggressive directional bets." 

The Thesis
India's broad market held flat Wednesday as Brent crossing $90 capped sentiment, but VIX at a subdued 11.67 and BankNifty outperforming signal domestic conviction is intact. The tame US CPI print (3.4%) has pushed Fed rate-cut expectations forward, improving EM allocation odds precisely when India's capex cycle visibility is highest.

Where We're Concentrated
The basket is anchored in infrastructure-led capex - engineering, road concessions, precision components - backed by the domestic credit cycle in PSU and diversified financials. Aluminium adds global commodity optionality via energy-transition demand and Novelis capacity expansion. The thesis breaks if Brent sustains above $95, which would stress the current account and stall RBI easing.

Conviction Picks
Highest Conviction
Larsen & Toubro
Policy-backed infrastructure orders stay thick through FY27; capex cycle keeps the order book compounding above street consensus.
Union Bank of India
PSU credit cycle accelerating; BankNifty's outperformance Wednesday signals loan-book repricing running ahead of consensus.
Hindalco Industries
Energy-transition aluminium demand offsets crude-driven cost pressure; Novelis capacity expansion adds a durable margin lever.
Tube Investments of India
EV supply-chain localisation and import substitution keep precision auto-component margins resilient into FY27 capex build-out.
Bajaj Finserv
Diversified across insurance, lending, and wealth management; rate-cycle resilience with no single-book concentration risk.
One Thing to Watch
Brent above $95 A sustained breach widens India's current account deficit materially, pressures the rupee toward 96-97, and forces the RBI to pause its easing cycle - the single biggest macro risk to this basket's valuation.

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Total market cap of all BSE Sensex companies at 9:17 am was Rs 4,92,17,509.

Gaurav Udani, Founder - Thincredblu Securities 

"Nifty is expected to open lower around 24,380, down nearly 50 points, indicating a cautious start after the recent volatility.

The index is approaching an important support zone, and buyers need to be cautious at current levels. 24,300-24,400 will act as the immediate support range, while 24,700-24,800 remains the key resistance zone.

A sustained break below 24,300 could increase selling pressure and lead to further profit booking, while a recovery above 24,500 would improve the short-term outlook.

Traders should avoid aggressive buying at the open and wait for confirmation around key support levels. For now, a cautious buy-on-dips approach is preferable, with strict risk management."

Nischal Shetty, Founder, WazirX

"Ahead of the US CPI release, markets expected headline inflation to rise just 0.1% in July and core CPI by 0.2%. A hotter 0.3 - 0.4% core reading could have increased the likelihood of a September Fed rate hike, tightening financial conditions and pressuring crypto. 

Instead, CPI matched expectations at 0.1%, while core CPI rose 0.2%, with annual rates at 3.4% and 2.5%, respectively. The contained inflation reading has reduced expectations for a September hike, supporting liquidity and risk appetite, which is a positive development for Bitcoin and the broader crypto market.

Wall Street has responded positively to the softer CPI environment. Overall US markets signal improving risk appetite, with the Nasdaq and S&P 500 advancing. The Dow remained broadly flat, and gold was stable. Oil declined 1.38%, potentially easing future inflation pressures. 

BTC trades near $63,384, sitting around its $63,379 50-day SMA, while most shorter moving averages cluster above $64,000 and signal resistance; $63,200 - $63,400 is therefore an important support zone, with $64,000 - $64,550 being the immediate resistance. ETH near $1,876 shows support at around $1,863 - $1,870, while the $1,881 - $1,899 range creates overhead resistance. 

With reduced expectations of a September Fed hike, the backdrop is supportive for crypto, although BTC and ETH need an additional catalyst for stronger momentum.

The liquidation breakdown shows $165.13 million in leveraged crypto positions liquidated over the past 24 hours, split between $78.01 million in longs and $87.11 million in shorts. 

BTC futures traders may watch $63K - $62.5K as key downside levels, while $64.5K marks near-term resistance. A sustained move higher could bring the $65.5K - $66K zone into focus for market participants. For ETH futures, $1,870 remains a key level to monitor, with $1,850 - $1,815 forming lower support zones. On the upside, $1,925 is key resistance, followed by $1,960 - $2,000 if momentum strengthens."

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Riya Sehgal, Research Analyst, Delta Exchange

Bitcoin and Ethereum remain under pressure as softer US inflation data fails to offset weak crypto flows and geopolitical risk. Bitcoin trades near $63,500, while Ethereum is around $1,875.
July US CPI rose 0.1% MoM and 3.4% YoY, broadly in line with expectations and easing concerns over further Fed tightening. Crypto, however, saw limited upside.
Farside data showed $46.8 million in net outflows from US spot Bitcoin ETFs on August 12, while uncertainty around Iran, the Strait of Hormuz and elevated oil prices continues to weigh on risk sentiment.
Technically, Bitcoin's rejection from $64,800-$65,300 leaves $63,200 as immediate support, followed by $62,400. Ethereum is testing $1,860-$1,875 after failing near $1,920.
Focus now shifts to US PPI today. Softer data could support crypto, while an upside surprise may add pressure. BTC needs to reclaim $64,150-$64,500 to improve near-term momentum.

The Indian mutual fund industry achieved a historic benchmark as total net inflows reached an all-time high of Rs 85.75 lakh crore as of July 2026, reflecting robust investor confidence across multiple market segments.

A recent report by GEPL Capital reveals that overall net inflow expanded by roughly 4.30 per cent in July, compared to the previous month. Furthermore, the broader net mutual fund Assets Under Management (AUM) recorded a steady growth trajectory of 13.80 per cent over the past one-year period.

A breakdown of ownership patterns highlighted a balanced distribution across different investor categories. Corporates currently command the largest share, holding roughly 37.17 per cent of total mutual fund assets, closely followed by High Net-Worth Individuals (HNIs) who retain 33.83 per cent of the total allocation.

Vikram Subburaj, CEO, Giottus.com

Bitcoin traded near $63,400 on Thursday morning, down about 0.6% over 24 hours, despite softer US inflation data. The muted response suggests that improving macro conditions have not yet translated into strong crypto demand. Immediate support is around $63,000-$63,250, followed by $62,000. Resistance lies near $64,400-$64,500, with $66,000 remaining the stronger short-term ceiling.

On-chain conditions explain some of this caution. Bitcoin's Median Realized Price stands near $63,000. The short-term holder cost basis is around $68,700. This leaves many recent buyers below their average acquisition price. Spot Bitcoin volume measured in BTC has fallen to its lowest level since 2019. Sellers appear increasingly exhausted. However, fresh buying demand remains limited. Bitcoin remains caught between strong cost-basis support and insufficient demand for a breakout.

US spot Bitcoin ETF flows remain positive for August overall but have cooled. Funds attracted $865.3 million across five consecutive sessions from August 3-7, before recording a $144.6 million outflow on August 10. August 11 returned to a modest $7.8 million inflow. 

Large-cap altcoins were mostly weaker. Ethereum traded near $1,877, down about 0.4%, BNB fell 1.3% to $610, XRP declined 2% to $1.00, and Solana lost 1.2% to $75.60. TRON was the exception, gaining about 0.4% to $0.336.

July US CPI rose 3.4% annually, while core inflation eased to 2.5%. Markets subsequently reduced the probability of a September Federal Reserve rate increase to about 38%-40%. Attention now turns to Thursday's US Producer Price Index. Brent crude near $88 remains an inflation risk.

Our advice: Investors should avoid chasing short-lived rallies while Bitcoin remains below $64,500-$66,000. Staggered accumulation, limited leverage and disciplined position sizing remain preferable until stronger ETF and spot demand confirm the recovery.

Rajesh Palviya, Head of Research, Axis Direct

"The Nifty 50 ended Wednesday 35.75 points lower at 24,435.95, extending its decline to a second session as elevated crude prices and caution ahead of the domestic inflation data kept sentiment subdued. The weakness was largely stock-specific, with TCS sliding sharply following Tata Sons Chairman N Chandrasekaran's abrupt resignation and weighing on the broader Tata group. Gains in metals and select banks, however, helped the index recover from its intraday low of 24,265.95. July retail inflation subsequently came in at 4.45%, a 19-month high.
Global cues remain relatively supportive. US CPI at 3.4% was in line with expectations, helping the S&P 500 and Nasdaq Composite gain 0.26% and 0.54%, respectively, led by AI and semiconductor stocks. Asian markets are also firm, with the Nikkei 225 up around 1.5% and the Kospi gaining nearly 4% on the memory-chip rally.

For Indian equities, crude remains the key swing factor near $88 a barrel, with Strait of Hormuz uncertainty posing risks to the import bill and the rupee. GIFT Nifty at 24,423.5 points to a flat-to-marginally weaker opening. The near-term bias remains neutral, with the Nifty facing resistance below 24,550. Immediate support stands at 24,265, and a decisive break could drag the index towards 24,100. However, any meaningful easing in crude prices could revive buying interest and open the way towards 24,700."

Vaishali Patel, Senior Manager - Research- Technical Department at Jainam.

Nifty opened with a flat note but witnessed selling in the initial half of the session. However in the second half, buying momentum pulled index higher to close near day's high. Dow and S&P 500 futures were little changed overnight, while Nasdaq 100 futures edged lower after Wednesday's consumer price index report showed relatively stable core inflation.

Asian stocks rose after U.S. inflation data came in as expected, dampening expectations of further near-term Federal Reserve rate hikes. Crude Oil prices fell as forecaster lowered global oil demand projections for 2026 because of the disruptions from the U.S.-Israeli war on Iran, and US oil inventories rose unexpectedly last week. GIFT Nifty was trading lower at around 24,440 in early trade, indicating a weak opening for the domestic equity markets.

Technically, Nifty has formed a Hammer candlestick near the support zone, indicating rejection of lower levels and active buying interest, though follow-through confirmation is required. A sustained close above 24,500 could trigger fresh momentum towards 24,650-24,700. Failure to reclaim this resistance may keep the index range-bound, with profit booking likely towards 24,250-24,000, followed by stronger support at 23,900-23,650. As long as the broader support structure holds, the correction can be considered consolidation rather than a trend reversal.

Prateek Gupta, Head of Business, Mudrex:

Bitcoin slid back to around $63,500 after briefly reclaiming $64,000 in the wake of Wednesday's US CPI print, which cooled to 3.4% year-on-year from 3.5% in June. Markets saw little fresh conviction in either direction as the inflation reading landed exactly in line with forecasts. The focus shifts to US Producer Price Index data, due later today, for the next directional cue. Bitcoin has failed to close above $65,000 on six separate attempts since August 5, keeping that level as the market's key resistance, while $62,000 continues to serve as the immediate support to watch.

Harish Vatnani, Head of Trade, ZebPay

"Goldman Sachs is expanding its crypto footprint with the planned acquisition of Neos Investments for up to $2.25 billion in cash and equity. The deal would bring three crypto options-income ETFs - BTCI, XBCI and NEHI - under Goldman Sachs Asset Management, strengthening its exposure to the growing crypto investment-products market. 

Meanwhile, Bitcoin remains stuck in the $62,000-$66,000 range, with steady ETF demand being offset by selling from miners and corporate holders. The latest U.S. inflation data offered little clarity, with July inflation at 3.4% and core inflation easing to 2.5%, both broadly in line with expectations. 

The mixed data leaves the Fed's next move uncertain. Weak employment supports a more cautious approach, while inflation remains above target and three policymakers backed a rate hike at the July meeting. With neither bulls nor bears gaining a clear advantage, Bitcoin's next major move could depend on upcoming economic data and changing expectations around Fed policy."

Abhishek Bhilwaria, Partner at BhilwariaFinserv

Natarajan Chandrasekaran's unexpected resignation as Tata Sons chairman has wiped out over Rs 44,000 crore in aggregate market value, driven by investor anxiety over governance friction, leadership succession, and aggressive high-tech capital allocation. While operational fallout is contained because he will serve out his term until February 20, 2027, flagship stocks have reacted sharply, with TCS falling nearly 5% and Tata Motors dropping 3.3%. Institutional investors are deeply concerned that public shareholders will bear the brunt of cash diversion, as traditional cash cows fund high-loss, long-gestation bets like semiconductors and Air India aviation restructurings amid escalating tension between Tata Sons and Tata Trusts. 

Krystal Integrated Services Limited (KISL), a well-diversified provider of integrated facility management, staffing solutions, security services, catering and waste management services across India announced that the Company has acquired 100% equity stake in Citelum India Private Limited ("Citelum India") from its current shareholders including Citelum S.A.S., France. Citelum India will become a wholly owned subsidiary of Krystal Integrated Services Limited.

The acquisition marks Krystal's entry into the City Lighting & Urban Infrastructure segment and forms part of its strategy to build an engineering-led infrastructure services business. Krystal is targeting annual revenue of ₹300-350 crore from the new vertical over the next 3-4 years and plans to invest approximately ₹100 crores in engineering capabilities, technology platforms and business expansion. The Company plans to scale its operations across 30-40 cities in 12-15 states, with infrastructure services expected to contribute 12-15% of consolidated revenues.

Akshat Siddhant, Lead Quant Analyst, Mudrex

Gold reclaimed the $4,400-an-ounce mark in early Asian trade, extending its rebound after Wednesday's US July CPI print inched up 0.1% month-on-month and 3.4% annually. The as-expected reading has left traders still weighing the odds of a September Federal Reserve move rather than resolving them. Silver has tracked gold higher, holding near a seven-week high around $65-66 an ounce, aided by steady industrial demand alongside the safe-haven bid. Oil slipped below $83 a barrel, snapping a five-day advance, as President Trump asserted firm US control over the Strait of Hormuz while reopening talks with Iran remain deadlocked. Key levels to watch are $4,400 for gold and $83 for oil.

BTC is steadying around $64,000-$64,200 after a choppy CPI-day session, having reclaimed the $64,000 handle following a dip to an intraday low near $63,400. Yesterday's July inflation print landed largely in line -- headline CPI eased to 3.4% year-on-year (from 3.5%), with the monthly gain at 0.1% and core cooling to 2.5% -- an outcome analysts framed as "buying the Fed time, not conviction." The in-line read preserved existing September expectations, with prediction markets now pricing roughly a 67% chance of no rate change at the next FOMC meeting, so crypto's initial relief bounce has faded into cautious consolidation rather than a decisive breakout. Underlying flows remain thin and mixed: spot BTC ETFs saw only modest net inflows (around $7.8M Tuesday, led by BlackRock's IBIT), leaving price hemmed inside the familiar summer range. ETH is holding in the low-$1,900s, still capped well below the $2,000 psychological level. Near-term support sits at $63,400-$63,600, with a break lower exposing the $62,000-$63,000 zone. On the upside, the first hurdle is the $65,000-$65,500 supply shelf; a sustained move above it would be needed to shift structure, with $68,300 the level bulls must clear to invalidate the current range. Sentiment stays neutral-to-cautious as markets pivot from CPI toward the broader Fed policy path and lingering geopolitical noise.