Sensex, Nifty set for a modest start; Biocon, Reliance Infra shares in focus

Domestic benchmark equity indices are expected to open on a moderately positive note, after tracking mixed global market cues. Asian markets are trading higher from yesterday’s closing, while the U.S. market ended mixed overnight, with the Nasdaq and the S&P 500 recording new highs.

Asian markets were trading higher, with Japan’s Nikkei 225 rallying 0.68%, after clocking a 4% rise in yesterday’s session. The rise is due to the yield on Japan’s 30-year government bond rising 2.5 basis points (bps) to 3.31%, recording new highs. The 10-year yield also increased by 2 bps to 1.69%, the highest since July 2008. Singapore’s Straits Times also advanced by 0.31%. Chinese, Hong Kong, and South Korean markets are closed for the holidays.

Wall Street saw a mixed closing on Monday’s session. The S&P 500 rose 24.49 points, or 0.36%, while the Nasdaq Composite soared 161.16 points, or 0.71%. The Dow Jones Industrial Average declined 63.31 points, or 0.14%. 

On the domestic front, the Gift Nifty futures index indicated a positive start for the Indian equities. At 8:10 am, the Gift Nifty Index rose by 48 points, or 0.19%. 

In yesterday’s closing, Sensex added 582.95 points, or 0.72%, to close at 81,790.12, while the Nifty 50 closed 183.40 points, or 0.74%, above at 25,077.65.

Stocks in focus today:

Biocon Limited: The company has partnered with Carnegie Pharmaceuticals LLC to receive tentative approval from the U.S. Food and Drug Administration (U.S. FDA) for the ANDA for Rifaximin Tablets, 550 mg. Rifaximin tablets are a rifamycin antibacterial indicated for reducing the risk of overt hepatic encephalopathy (HE) recurrence and to treat irritable bowel syndrome with diarrhoea (IBS-D) in adults.

Reliance Infrastructure, Reliance Power: The companies announced that it has received from Sebi a show-cause notice for alleged violation of Sebi (Prohibition of Fraudulent and Unfair Trade Practices) Regulations, 2003, read with Sebi Act, 1992. Reliance Infrastructure also said in its statement that the disclosure dated February 9, 2025, where the dispute in relation to the Company’s exposure with CLE Private Limited was settled through the filing of consent terms before the mediation centre of the Bombay High Court. Reliance Power said it is also informed that the company has zero exposure to CLE Private Limited.

Mahanagar Gas, Oil India: The two gas companies signed a Memorandum of Understanding (MoU) on October 6. 

Waaree Energies: The promoter family of Waaree has committed to donate 1% of the equity share capital of the company towards charitable purposes.

HCL Technologies: The company has joined the MIT Media Lab for research and networks, and will co-develop projects aimed at translating meaningful AI innovation into impactful and scalable solutions.

Zydus Lifesciences: The company has received NOC from Health Canada for generic Liothyronine tablets 5 mcg and 25 mcg. Liothyronine tablets, a synthetic form of the thyroid hormone T3 (triiodothyronine), are primarily indicated for treating hypothyroidism.