Sensex, Nifty likely to open flat; Hero MotoCorp, Hyundai India, United Breweries shares in focus 

Indian equity benchmarks, the BSE Sensex and the NSE Nifty, are set to open flat in today’s session, after a stellar bounce back recorded on Monday. At 8:20 a.m., The Gift Nifty was subjected to a slight change by 8 points, rising by 0.03%, bringing it to 24,753, even though the Asian markets opened marginally higher, while the US markets were closed due to the Labour Day holiday. 

On Monday, the benchmark indices recovered from losses after three consecutive sessions. Sensex closed at 80,364.49, rising by 554.84 points or 0.70%, while the Nifty closed at 24,625.05, rising by 0.81%. Leading the bourses were auto companies like Bajaj Auto, Mahindra and Mahindra and Eicher Motors.

On the global level, Asian markets tracked cues from leaders meeting at the Shanghai Cooperation Organisation in Tianjin, with Japan’s Nikkei 225 Index rising by 0.11%, and Singapore’s Straits Times by 0.35%. Shanghai Composite bucked the trend by recording a 0.5% dip. Crude oil and Brent crude prices rose by 0.47%, due to escalating tensions between Ukraine and Russia. 

On the domestic front, as per data available on the NSE, foreign institutional investors (FIIs)were the net sellers of shares worth Rs 1,703.73 crore, while domestic institutional investors (DIIs) were the net buyers of shares worth Rs 4,316.07 crore on September 01. 

Stocks to watch today:

Hero MotoCorp will be in focus as the two -wheeler company recorded total sales growth of 8.1%, with exports jumping by 72%.Hyundai India reported a 4% decline in total sales on a YoY basis. United Breweries is also likely to be focus as the company’s flagship brand, Kingfisher, has commenced production at the newly leased Ilios Brewery in East Godavari, Andhra Pradesh.