Indian equity benchmarks, the Sensex and Nifty, are expected to open higher today, tracking firm cues from global peers as lower-than-expected U.S. inflation readings boosted the chances of at least two rate cuts by the Federal Reserve this year. The positive movement on Gift Nifty also indicates a solid start for the Indian equities, as Nifty futures were trading 40 points higher at 23,306.

In overnight trade, U.S. markets witnessed strong buying as investors cheered the CPI report which showed core inflation unexpectedly slowed in December, raising hopes for interest rate cut during this year. The sentiment was further boosted after U.S. banks started quarterly earnings season with solid results. The Dow Jones Industrial Average advanced 1.65%, the S&P 500 added 1.83%, and the Nasdaq Composite zoomed 2.45%, snapping two session losses.

Tracking firm cues from Wall Street, all Asian stocks opened higher today, led by Hong Kong, South Korean and Australian markets. Japan’s Nikkei 225 was up 0.28%, while China’s Shanghai Composite rose 0.5%. Hong Kong’s Hang Seng, Australia’s ASX 200 and South Korea’s KOSPI rallied over 1% each.

On Wednesday, the domestic bourses closed higher for the second straight session, with the Sensex and Nifty settling with marginal gains. The 30-share Sensex rose 224.45 points, or 0.29%, to end the trade at 76,724, and the Nifty50 added 37.15 points, or 0.16%, to settle at 23,213. Similarly, the broader market closed with modest gains, with the Nifty Midcap100 and Nifty Smallcap100 rising 0.41% and 0.56%, respectively.

Sectoral indices closed on a mixed note, with Nifty IT and Realty emerging as top performers, while Nifty Auto, FMCG, Media, and Healthcare indices were among the top laggards.

Among the individual stocks, Trent, NTPC, Power Grid, Kotak Mahindra Bank, and Maruti Suzuki were among notable gainers, while Mahindra & Mahindra, Bajaj Finserv, Axis Bank, Bajaj Finance, and Shriram Finance were among the top losers.

Stocks to Watch

Earnings Today: Big players such as Reliance Industries, Infosys, Axis Bank, Havells India, LTIMindtree, Metro Brands, Spencers Retail, Waaree Renewable Technologies, D B Corp will release their numbers. Among others, Sterling and Wilson Renewable Energy, Mastek, Kesoram Industries, Alok Industries, Hatsun Agro Products, Plastiblends India, Bhansali Engineering Polymers, Shekhawati Industries, Radhika Jeweltech, Mudra Financial Services, Khaitan Chemicals & Fertilizers, Digicontent, Julien Agro Infratech, Pacheli Industrial Finance, Sanathnagar Enterprises, Last Mile Enterprises, will also unveil their results.

Key Corporate Developments

Adani Green Energy: The Adani Group company reported a 37% YoY growth in operational capacity in Q3 , touching 11,609 MW. The company expanded with greenfield additions of 2,693 MW in solar and 438 MW in wind power plants across Gujarat and Rajasthan.

Exide Industries: The company has invested ₹150 crore into its subsidiary, Exide Energy Solutions Limited (EESL) to expand its position in the growing electric vehicle battery market. With this, the total investment in EESL has increased to ₹3,302.23 crore.

Swiggy: The online food delivery company has created a new wholly-owned subsidiary, Swiggy Sports, to focus on sports and recreational activities.

Rail Vikas Nigam Limited (RVNL): The state-owned company has bagged a ₹3,622 crore contract from Bharat Sanchar Nigam Limited (BSNL) for the creation, upgrade, and management of the Middle Mile network under BharatNet.

Happiest Minds: The company has entered into a partnership with Coca-Cola Beverages Vietnam to develop generative AI solutions for improving operational efficiency and productivity.

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