Opening Bell: GIFT Nifty futures indicate gap-up start for Sensex, Nifty; Wipro, IHCL, L&T, and Reliance Infra shares in focus

The Indian equities market is set to open higher on Wednesday, tracking firm cues from global peers, as investors monitored ongoing trade negotiations between the U.S. and China. At 8:00 a.m., the GIFT Nifty futures were trading 38 points higher at 25,182, indicating a gap-up start for the domestic benchmark indices—the BSE Sensex and the NSE Nifty.

On Tuesday, the Indian equitlies market witnessed lacklustre trading and ended on a flat note as cautious investors booked profits. The BSE Sensex closed at 82,391.72, down by 53.5 points, or 0.06%, while the NSE Nifty50 ended marginally higher by 1.05 points at 25,104.25.

U.S. stocks end higher for third day

In overnight trade, Wall Street extended its gaining streak for the third consecutive session, with all three major indices rising as investors remained hopeful about a positive outcome of the ongoing U.S.-China trade talks. The Dow Jones Industrial Average rose 0.25%, the S&P 500 gained 0.55%, while the Nasdaq Composite added 0.63%.

Asian stocks trend higher following Wall Street gains

Tracking overnight gains in U.S. stocks, equity markets in the Asia-Pacific region continued their upward momentum for the second consecutive session. Investors kept a close eye on the U.S.-China trade talks, which expects to find a resolution between the world’s two largest economies.

Japan’s Nikkei 225 index gained 0.45%, while Hong Kong’s Hang Seng and China’s Shanghai Composite added 0.55% and 0.4%, respectively. South Korea’s Kospi was up around 0.7%, while Singapore’s Straits Times dropped 0.45%. Meanwhile, Australia’s ASX 200 ended 0.36% higher.

Stocks to watch

AU Small Finance Bank: Private equity firm TA Associates on Tuesday exited the private lender by selling its entire 1.26% stake in the company for ₹714 crore via an open market transaction.

Aditya Birla Capital: Jomei Investments (Advent International) is looking to sell a 1.4% equity stake worth around ₹856 crore in the company via block deals.

Wipro: The IT major has extended its partnership with international food wholesaler Metro AG for an additional two years.

Indian Hotels Company Ltd (IHCL): The Tata group company has signed a greenfield 115-key hotel in Mysuru, Karnataka, under its Vivanta brand.

L&T: The infrastructure major has secured new grid infrastructure orders ranging from ₹5,000-10,000 crore in India and overseas.

Reliance Infrastructure: The company said in an exchange filing that Reliance Defence has strengthened its strategic partnership with Diehl Defence, building on their cooperation agreement signed in 2019.

IIFL Finance: The company has proposed to raise up to ₹600 crore by issuing non-convertible debentures (NCDs) through private placement.

Texmaco Rail: The railway company has received a fresh order worth ₹44.04 crore from the Mumbai Railway Vikas Corporation.

Sonata Software: The IT company has announced a strategic partnership with the Indian Institute of Science’s Foundation for Science Innovation and Development (FSID).

Kaynes Technology India: The company’s subsidiary, Kaynes Semicon, is set to buy Japan’s Fujitsu General Electronics production lines for power modules and other identified assets, for 1.59 billion yen.

Thomas Cook India: The company has expanded its presence in Punjab by launching its first franchise outlet in Mohali.

Premier Energies: GEF Capital Partners on Tuesday offloaded a 5.55% stake in the company for ₹2,629 crore through open market transactions.

Max Financial Services: The company has informed exchanges about the appointment of Sumit Madan as Managing Director & Chief Executive Officer of Axis Max Life.

CreditAccess Grameen: The NBFC-microfinance institution has secured a $100 million multi-currency syndicated social loan facility.

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