Opening bell: Sensex, Nifty set to open flat despite positive global cues; Zydus, NTPC, Eternal shares in focus

In the week’s final session, Indian benchmark indices are set to open flat, with GIFT Nifty edging lower despite positive global cues. As of 8:00 a.m., GIFT Nifty was down by 3 points, trading at 24,866, indicating muted opening for the Sensex and Nifty.

Meanwhile, international markets rallied, supported by overnight developments such as the U.S. President Donald Trump signing an executive order finalising a lower 15% tariff on Japanese auto imports. Japan’s Nikkei Index added 0.76%, while Singapore’s Straits Times and the Shanghai Composite gained 0.20% each.

The U.S. stock market also ended higher, with the S&P 500 closing up 0.83%. The Nasdaq rose by 209 points, or 0.98%, and the Dow Jones Industrial Average jumped 0.77%. The gains followed signs of a cooling U.S. labour market, which could prompt the Federal Reserve to consider interest rate cuts.

Crude oil prices fell for the third consecutive day ahead of an OPEC meeting this weekend, where members may consider further output hikes. Brent crude slipped 0.29% to trade at $66.81 per barrel, while West Texas Intermediate crude oil fell 0.22% to $63.34 per barrel.

On September 4, foreign institutional investors (FIIs) offloaded equities worth ₹106 crore, while domestic institutional investors (DIIs) were net buyers at ₹2,233 crore.

Yesterday’s session turned choppy as markets fizzled out after an initial rally triggered by Finance Minister Nirmala Sitharaman’s GST 2.0 announcement. Indices pared early gains, with the BSE Sensex closing at 80,718.01, up by 150 points, while the Nifty ended just 0.08% higher at 24,734.30. Mahindra & Mahindra was the top performer, while HDFC Life emerged as the biggest laggard. Broader indices snapped their winning streak, falling by more than 0.5%.

Stocks in focus:

Zydus Lifesciences: The company, through its wholly owned subsidiary, Zydus Lifesciences Global FZE, entered into an exclusive licensing and supply agreement with the Netherlands’ Synthon BV, for Ozanimod Capsules in the U.S. market.

NTPC: The company permanently discontinued operations of Tanda Thermal Power Station Stage-I, which comprises four units of 110 Megawatt (MW) each, effective September 1. NTPC’s total installed and commercial capacity now stands at 82,926 MW after this closure.

Eternal and Swiggy: The shares of the food delivery services will be in focus as they have increased their platform fee due to the upcoming festive demand. Swiggy upped the fee again for the third time to ₹15 per order.

Varun Beverages: The company established a joint venture company, White Peak Refrigeration Pvt. Ltd., to manufacture visi-coolers and other refrigeration equipment.