At 8:20 AM, the GIFT Nifty futures were trading 6 points lower at 24,756, indicating a flat opening for the BSE Sensex and the NSE Nifty.
Indian equities are expected to see a muted start on Wednesday as investors await the Reserve Bank of India’s (RBI) policy outcome. At 8:20 AM, the GIFT Nifty futures were trading 6 points lower at 24,756, signalling a flat opening for the BSE Sensex and thee NSE Nifty despite firm global cues.
The RBI’s monetary policy decision will be the key domestic trigger, while uncertainty around the U.S.-India trade deal could add to volatility in the broader markets.
Rate-sensitive sectors such as banking, financial services, auto, and realty are likely to remain in focus today. While the central bank is widely expected to keep rates unchanged, some economists, including those at State Bank of India (SBI), anticipate a 25-basis-point cut in the repo rate.
On Tuesday, the Indian equity markets ended marginally lower, extending their losing streak for the eighth straight session. The Sensex ended 97.32 points lower at 80,267.62, whereas the Nifty settled 23.80 points down at 24,611.10.
Stocks to watch today
Auto stocks: Shares of automobile companies will be in focus as they will release their monthly sales numbers.
Adani Enterprises: Adani Road Transport, a subsidiary of Adani Enterprises, has signed share purchase agreements to acquire 100% stakes in Yashodhan Highways (YHPL) and KN Highways Development (KNHDPL) from DRN Infrastructure.
Oil India: The state-owned oil marketing company has inked an MoU with GAIL (India) to collaborate across the natural gas value chain and expand access to clean energy solutions nationwide.
Adani Total Gas: Parag Parikh has stepped down as Chief Financial Officer effective September 30. The company is in the process of appointing his successor.
Lupin: The drug maker has received USFDA approval for its Rivaroxaban Oral Suspension, a bioequivalent of Janssen’s Xarelto, used for treating venous thromboembolism (VTE).
RITES: The PSU has signed an MoU with Etihad Rail to explore business opportunities in the mobility sector across the UAE and other regions.
ICICI Bank: The bank has received a show-cause notice from CGST authorities demanding ₹216.27 crore in GST on services offered to customers maintaining specified minimum balances.
Indian Overseas Bank: The RBI has imposed a penalty of ₹31.8 lakh on the bank for non-compliance with priority sector lending guidelines.
LG Balakrishnan & Brothers: The company reported a malware attack on select IT systems but said immediate steps have been taken to contain and secure operations.
Jaiprakash Associates: The Competition Commission of India (CCI) has cleared the acquisition of Jaiprakash Associates by Jindal Power, part of the Jindal Group.
Nestlé India: The company has signed an MoU with the Ministry of Food Processing Industries (MoFPI) to accelerate investments in new and existing projects across Odisha and other manufacturing hubs.
Shree Cement: The company has started operations at its new clinkerisation unit with a capacity of 3.65 MTPA at its integrated plant in Jaitaran, Rajasthan.
Atlantaa: The company has bagged a ₹2,485-crore contract from IRCON International to build the Bhandara-Gadchiroli Access Controlled Expressway in Maharashtra under EPC mode.
Man Industries: The Sebi has closed long-pending legacy cases (FY15–21) involving Man Industries, imposing a ₹25-lakh penalty on the company for procedural lapses and non-consolidation of financials with Merino Shelters.
Swan Defence & Heavy Industries: The company has entered into an MoU with Samsung Heavy Industries to jointly pursue shipbuilding and heavy engineering projects both in India and abroad.
SKF India: CFO Ashish Saraf and MD Mukund Vasudevan have resigned as part of a restructuring linked to a demerger. Shailesh Kumar Sharma has been appointed as MD for five years, while Aashi Arora takes over as interim CFO from October 1.
Newgen Software Technologies: Newgen’s subsidiaries have secured multiple international deals.
Adani Green: The company, through its various stepdown subsidiaries, has operationalised an aggregate of 112.5 MW power projects at Khavda, Gujarat.
Tata Motors: The auto major has invested ₹120 crore through subscription of Series C Compulsorily Convertible Preference Shares in Freight Tiger, a Freight Commerce Solutions Private Limited subsidiary.
(DISCLAIMER: The views and opinions expressed by investment experts on fortuneindia.com are either their own or of their organisations, but not necessarily that of fortuneindia.com and its editorial team. Readers are advised to consult certified experts before taking investment decisions.)