Monday, Sept 07 2026 — Asia opens mixed: Gift Nifty signals a negative start for India while Asian shares trade higher; UltraTech’s Rs 1,800 cr UltraVolt bet wipes out Rs 21,500 cr in 2 days; BSE exte

GIFT Nifty points negative even as Asian shares trade higher—India is decoupling. The issue is UltraTech’s shock is dominating local sentiment before the open. UltraTech’s Rs 1,800 cr UltraVolt bet wiped out Rs 21,500 cr of value in 2 days. That’s a repricing of the wires/cables angle, not just a one-off writedown—watch peers. BSE +10% in 3 sessions. Exchange operator strength usually tracks retail volume and listing momentum—good signal if it holds, but the move is extended. North Korea commissions nuclear-capable naval destroyer Kang Kon. Bad signal for regional stability; Korea defense and shipyard names could catch a bid. India-France ties at "new heights" per Modi. Watch defense, nuclear, and trade names for a policy tailwind. ISRO scientists seek clarity on privatisation. Regulation overhang for India’s space ecosystem—clarity matters more than speed for those names. Macro odds are not settled: KXFED 20.5% for fed funds upper bound above 3.75%; KXPAYROLLS 30.5% for >125k July pay

GIFT Nifty points negative even as Asian shares trade higher—India is decoupling. The issue is UltraTech’s shock is dominating local sentiment before the open.