The Indian benchmark indices are set to open flat with a negative bias, as global markets traded in the red. Investors turned cautious as they looked to track economic data from America, which could give cues on rate cuts by the U.S. Federal Reserve in December. 

According to Ponmudi R., CEO, Enrich Money, rising U.S. bond yields, stretched valuations in global tech, and pockets of sticky inflation continue to keep investor sentiment fragile, reinforcing a cautious tone across global markets.  

The Asian markets opened with a sharp decline, with Japan’s Nikkei 225 and South Korea’s KOSPI down by 2% each. The Hang Seng too opened lower, currently down by a per cent, while the Shanghai Composite declined by 0.36%. 

The S&P 500 dropped 0.92% to 6,672.41, while the Nasdaq Composite slipped 0.84% to close at 22,708.07. The Dow Jones Industrial Average fell 1.18% to close at 46,590.24. 

The Indian markets continued their winning streak for the sixth straight session yesterday, with the Nifty50 rising 103 points or 0.40% to 26,013.45, while the Sensex gained 388 points (0.46%) to close at 84,950. Yet, Ponmudi cautions that the Nifty50 is set for a cautious start and may witness mild selling pressure at the open amidst the risk-on mood in global equities. As long as the Nifty holds above 25,850, the short-term trend remains constructive with a mild bullish bias. The GIFT Nifty index indicated a flat start, as it was trading at a 24-point discount, at 25,992. 

Foreign investors were net buyers in the Indian equity markets on November 17, with FIIs/FPIs purchasing shares worth ₹442 crore, according to provisional exchange data. Domestic institutional investors (DIIs) also extended their buying streak, with net inflows of ₹1,466 crore.

Stocks in focus today:

Mphasis: The company has clarified rumours regarding Blackstone trimming its stake in Mphasis via a large block deal. “The company is not a party to any such purported potential transaction. Further, such a transaction does not involve the company, but rather involves our promoter, BCP Topco IX Pte. Ltd., part of Blackstone Group, and, accordingly, the company has reached out to the promoter to seek information,” read the statement.

JSW Cement: Nuvoco Vistas has signed and executed a Securities Purchase Agreement with JSW Cement, Alpha Alternatives Holdings, and Algebra Endeavour, for up to Rs 200 crore for the acquisition of 100% of the securities of Algebra Endeavour (the holding company of Vadraj Energy, Gujarat).

Bharti Airtel: The company reported that S&P Global Ratings raised its long-term issuer credit ratings on Bharti Airtel to 'BBB' from 'BBB-'. 

Adani Enterprises: The company announced in a statement that the Navi Mumbai International Airport (NMIA) will begin commercial operations on December 25, 2025. In the first month, NMIA will operate for 12 hours between 08:00 hrs and 20:00 hrs, handling 23 scheduled daily departures. During this period, the airport will manage up to 10 flight movements per hour.