Thursday, 12 November 2026. GIFT Nifty was at 25,284.5 at 8:05 AM, 78 points (0.31%) above where it stood at 3:30 PM on Wednesday, after Wall Street rallied on artificial intelligence stocks and then gave part of it back in futures trading: Nvidia fell more than 8% after hours when The Wall Street Journal reported that its board was preparing to remove chief executive Jensen Huang. Wednesday's rise of 210.40 points in the Nifty is covered in the post-market report for 11 November.
Nvidia's board and a second report on Jensen Huang
The Journal's report, published on Wednesday evening New York time, said Nvidia's board was getting ready to remove Huang and could meet as soon as that evening, Investing.com reported on Yahoo Finance. Separately, The New York Times had reported that Huang had an extramarital relationship with a company executive who reports to him. Neither the Investing.com nor the CNBC report carried a comment from Nvidia. The board had already opened an independent investigation on 8 November, The Star and Khaleej Times reported, citing a board statement that referred to reporting that Huang had been the target of a foreign intelligence effort.
The shares had risen 2.9% in the regular session, according to Trading Economics. After the reports, CNBC put the after-hours fall at around 8%, and Investing.com at more than 8%. By 7:25 PM New York time (5:55 AM in India), Nasdaq 100 futures were down 1% at 28,205.75 and S&P 500 futures down 0.4% at 7,608.75, while Dow futures were flat.
Wednesday on Wall Street: CoreWeave leads a chip rally
Before that news, all three main indexes closed higher. Trading Economics tied the rise to the cloud computing company CoreWeave, whose shares jumped about 25% after it reported strong sales growth and raised its outlook, and to reports of strong demand for Anthropic's planned share sale. Micron gained 11.9%.
| US index | Wednesday 11 November close | Change |
|---|---|---|
| Dow Jones | 52,486.49 | +254.60 (+0.5%) |
| S&P 500 | 7,619.38 | +98.45 (+1.3%) |
| Nasdaq Composite | 25,466.19 | +400.31 (+1.6%) |
The 10-year Treasury yield was at 4.997% this morning against a previous close of 4.99%, according to Trading Economics.
In Tokyo the Nikkei 225 was up 467.41 points (0.76%) at 61,716, with SoftBank Group 3.5% higher and Tokyo Electron 2.7%. Trading Economics said analysts had flagged a possible spillover from the Nvidia news to Asian suppliers.
GIFT Nifty since Wednesday's close
GIFT Nifty fell to 25,156.5 in the 8:00 PM quarter-hour on Wednesday, then climbed through the US session. It is now 29.45 points above the Nifty 50's close of 25,255.05. GIFT Nifty is a futures price, so that gap is not a measure of where the index will open (what GIFT Nifty can and cannot tell you).
| Global cue | Level | Change | As of |
|---|---|---|---|
| GIFT Nifty | 25,284.5 | +78.0 vs 3:30 PM Wed (+0.31%) | 8:05 AM IST |
| Brent crude | $91.95 | −$0.81 on the day | Thursday morning |
| WTI crude | $85.82 | −$0.71 (−0.82%) | Thursday morning |
| US 10-year yield | 4.997% | previous close 4.99% | Thursday morning |
| Nikkei 225 | 61,716 | +467.41 (+0.76%) | Thursday morning |
Brent gives back Wednesday's rebound
Brent was at $93.20 on Wednesday evening and $91.95 this morning. Trading Economics pointed to recovering crude flows from the Middle East and a report from Saudi Arabia to OPEC that its October output rose 26%, against a standoff in which Iran says the US must lift sanctions and end its naval blockade before the Strait of Hormuz reopens. Brent is 13% lower than a month ago.
Foreign funds bought ₹12,563 crore on Wednesday
Foreign institutions bought a net ₹12,563.30 crore of Indian shares in the cash market on Wednesday, NSE's provisional data show, after ₹7,212.20 crore on Monday. Domestic institutions sold a net ₹8,434.50 crore, so the foreign buying exceeded the domestic selling by ₹4,128.80 crore (how to read FII and DII data).
| Wednesday 11 November | Close | Change |
|---|---|---|
| Nifty 50 | 25,255.05 | +210.40 pts (+0.84%) |
| Sensex | 81,879.40 | +772.75 pts (+0.95%) |
| Bank Nifty | 60,792.40 | +1,051.15 pts (+1.76%) |
| India VIX | 17.56 | +0.14 (+0.80%) |
Changes are against Monday's close, as Tuesday was a holiday. The rupee closed at 93.69 to the dollar from 93.93, according to 5paisa, after touching 93.635, its strongest since April.
India's October inflation, and 369 results
- CPI: the statistics ministry is due to publish October retail inflation today; Business Today gave no release time. September's figure was 5.54%. An Informist poll of 12 economists expects 6%, and Bloomberg Economics 6.1%, Business Today reported.
- Results: 369 companies are due to report today, Upstox listed, among them Hindustan Aeronautics, Bharat Dynamics, NMDC, Oil India, Vodafone Idea, Alkem Laboratories, Page Industries, IRCTC and Manappuram Finance.
- Tata Power trades for the first time on its September-quarter numbers, released after Wednesday's close: consolidated revenue rose 26.32% to ₹19,636 crore and net profit 48.6% to ₹1,366.11 crore, Upstox reported.
- Expiry: none today. The next weekly Nifty expiry is Tuesday, 17 November. NSE is shut on Tuesday, 24 November, which moves the November monthly expiry to Monday, 23 November.
I did not find an IPO calendar for today from a source I could check, so none is listed.
Three things I look at before 9:15
- Whether Nvidia or its board puts out a statement on the reports.
- Whether Nasdaq 100 futures have moved since the 5:55 AM reading.
- The CPI figure when it is released, set against September's 5.54%.
Sources
- GIFT Nifty, Nifty 50, Sensex, Bank Nifty and India VIX: Zerodha Kite market data
- FII and DII flows: NSE provisional data via 5paisa; rupee: 5paisa
- US index closes: Associated Press via La Nación
- Nvidia board investigation: The Star and Khaleej Times
- Nvidia reports and futures: Investing.com via Yahoo Finance and CNBC
- US stocks, CoreWeave and Micron: Trading Economics; 10-year yield: Trading Economics; Brent: Trading Economics; WTI: Trading Economics; Tokyo: Trading Economics
- India CPI date, September figure and estimates: Business Today
- Results calendar: Upstox; Tata Power: Upstox results live blog
- Holidays and expiry: NSE holiday list and expiry rules
This note summarises public news and data for information only. It is not investment advice or a recommendation to buy or sell any security, and I don't publish levels, targets or trade ideas. I am not registered with SEBI as an investment adviser or research analyst.