Opening Bell: Gap-down opening seen for Sensex, Nifty; Polycab, Hindustan Zinc, Urgo Capital, Delhivery, M&M shares in focus

The Indian share market is expected to open flat-to-lower on Wednesday amid weak cues from global peers amid a slew of factors such as the U.S. Federal Reserve’s interest rate decision, escalated Israel-Iran tensions, and changes in Nifty and Sensex derivatives expiry dates. At 7:55 AM, the GIFT Nifty futures were trading 28.5 points lower at 24,834, indicating a gap-down start for the benchmark indices, the BSE Sensex and the NSE Nifty.

Capital markets regulator, the Securities and Exchange Board of India (Sebi), has given the nod to the NSE and the BSE to change the days for settlement of equity derivatives contracts. Now derivatives contracts on the NSE will expire on Tuesdays instead of Thursday, while the BSE contracts will expire on Thursday, from the current Tuesday expiry.

On Tuesday, the Indian benchmark indices closed in negative terrain in a highly volatile trading session amid heightening global uncertainties and the Israel-Iran conflict. The BSE Sensex dropped 212.85 points, or 0.26%, to settle at 81,583.30, and the NSE Nifty declined 93.10 points, or 0.37%, to end the day’s trade at 24,853.40. The broader market indices also settled in the red zone, with the BSE Midcap and Smallcap indices both sliding 0.5% each.

U.S. stocks close in the red ahead of Fed’s rate cut decision

Wall Street ended lower on Tuesday as sentiment was dented by the escalated Israel-Iran conflict, while caution also prevailed ahead of the U.S. Federal Reserve’s rate policy decision later tonight. The sentiment was dented amid reports that U.S. President Donald Trump is considering a military strike on Iran.

The Dow Jones Industrial Average settled 0.70% lower, the S&P 500 dropped 0.84%, and the Nasdaq Composite lost 0.91%.

The U.S. central bank is widely expected to keep the key benchmark interest rates unchanged in the range of 4.25-4.5%, but investors will be monitoring Fed Chair Jerome Powell’s post-meeting comments.

Asian stocks trade mixed

Equity markets in the Asia-Pacific region were a mixed bag today as intensifying tensions in the Middle East, with the Israel-Iran conflict entering its fifth day, dented sentiment.

The Nikkei 225 index in Japan and South Korea’s Kospi were trading higher by 0.6% each and the Taiwan Weighted index added 0.2%, while the other major markets were flashing in the red. Hong Kong’s Hang Seng was the worst performer in the region with a 1% loss, followed by Singapore’s Straits Times, which declined 0.45%. China’s Shanghai Composite was trading 0.2% lower.

Among others, Indonesia’s Jakarta Composite slid 0.25%, while Australia’s ASX 200 was trading flat with marginal losses

Stocks to watch

UGRO Capital: The NBFC focussed on MSME lending has executed a share purchase agreement to acquire 100% stake in Profectus Capital in a ₹1,400 crore all-cash deal.

Delhivery : Fair trade regulator CCI on Tuesday cleared the logistics services provider's proposal to acquire a majority stake in Ecom Express for around ₹1,400 crore.

Ola Electric Mobility : Bhavish Aggarwal-led ride-hailing firm Ola has implemented a nationwide zero-commission model on all vehicle categories—autos, bikes and cabs.

Polycab India : The wires and cables manufacturer has secured a ₹6,447.54 crore contract from BSNL under the BharatNet initiative.

Hindustan Zinc:  The Vedanta group company has proposed to invest ₹12,000 crore in the next three years to expand its refined metal capacity by 250 KTPA (kilo-tonnes per annum).

Vishal Mega Mart: Promoter Samayat Services LLP offloaded a 19.6% stake in the retail chain operator for ₹10,220 crore.

Mahindra and Mahindra : The auto major has received CCI approval to acquire a 58.96% stake in commercial vehicle manufacturer SML Isuzu for ₹1,554.60 per share.

Bharat Forge : The company has inked a pact with French company Turgis Gaillard to offer the AAROK UAV in alignment with the Ministry of Defence.

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