The Indian bourses are set to open flat on Wednesday, as investors remain cautious amid weak cues from global markets. At 8:20 a.m., the GIFT Nifty index was down 24 points, or 0.09%, at 24,645, indicating a weak opening for the Sensex and the Nifty.

The US markets closed lower amid concerns about tariffs and stressed fiscal conditions, driven by rising bond yields. The Dow Jones Industrial Average dipped 0.55%, while the S&P 500 and the Nasdaq Composite also declined 0.69% and 0.82%, respectively. The Asian markets also displayed dampened performance, with Japan’s Nikkei 225 down 0.32%, Singapore’s Straits Times down 0.33%, and the Shanghai Composite declining 1.14%.

Foreign institutional investors (FIIs) were net sellers of shares worth ₹1,171.04 crore, while domestic institutional investors (DIIs) were net buyers of shares worth ₹2,433.82 crore on September 2.

Investors will closely track the GST Council meeting today and tomorrow, where discussions on rate rationalisation, including reshuffling slabs between 5% and 18%, could influence the pricing of several goods and services.

Yesterday’s session was turbulent. After extending gains in the early trade hours, the benchmark indices spiralled down, with the Sensex closing at 80,157.88, down 207 points or 0.26%, while the Nifty50 closed lower by 45 points or 0.18% at 24,579.60. The Nifty came under pressure on account of the revised F&O expiry schedule, as yesterday marked the first Tuesday settlement. The broader markets outperformed the benchmark indices, with the Nifty Smallcap rising 0.52% and the Nifty Midcap up 0.22%.

Stocks in focus today:

FMCG stocks – Shares of Hindustan Unilever, Nestle India, Britannia, and others will be in focus today due to the GST Council meeting, as investors pin hopes on a reduction in the prices of everyday products.

Eternal – Zomato’s parent company will be under the scanner after it increased its platform fee from ₹10 to ₹12, anticipating a rise in festive season demand.

JSW Cement – The company released its Q1 results, reporting revenue and EBITDA growth of 7.8% and 61.4%, respectively.

TCS – The IT services provider has expanded its strategic partnership for the next seven years in a €550 million agreement with Tryg, a Scandinavian non-life insurance company operating in Denmark, Sweden, and Norway.

IPO listings – Two mainboard listings (Vikran Engineering and Anlon Healthcare) and two SMEs (Current Infraprojects and Sattva Engineering Construction) will debut on the bourses today.