Sensex, Nifty set for a positive start; Kotak Mahindra Bank, Tata Motors, Vodafone Idea, Sun Pharma shares in focus

The Indian equity benchmarks, the BSE Sensex and the NSE Nifty, are set for a positive opening on Wednesday, supported by overnight gains on Wall Street and firm cues from Asian markets. Investor sentiment is also likely to get a lift from U.S. President Donald Trump’s comment that trade talks with India are progressing and that a bilateral deal to address trade barriers could be concluded successfully. In addition, growing optimism about a U.S. Federal Reserve rate cut next week is expected to further boost appetite for equities.

At 8:05 AM, the GIFT Nifty futures were up 63.5 points at 25,027, indicating a positive opening for the Indian share markets.

On Tuesday, Indian equities ended higher, led by strong buying in IT stocks after Infosys announced a share buyback plan. The BSE Sensex gained 314 points to close at 81,101, while the NSE Nifty50 advanced 95 points to 24,869. In the broader markets, the Nifty MidCap and SmallCap indices added up to 0.3%. Sector-wise, the Nifty IT index jumped 2.7%, with Infosys topping the gainers’ list after rallying 5%.

U.S. stocks hit fresh records as weak jobs data raises hopes of a rate cut

In overnight trade, all three major U.S. indices closed higher, hitting fresh record highs as weak jobs data fuelled hopes of a rate cut by the Federal Reserve later this month. Data from the Bureau of Labor Statistics on Tuesday indicated that the U.S. economy created about 911,000 fewer jobs than earlier estimated for the 12 months ending March 2025, a downward revision that exceeded expectations.

The Dow Jones Industrial Average closed 0.5% higher, while the S&P 500 climbed 0.3% to settle at a new closing high. The tech-heavy Nasdaq Composite rose 0.4%, registering its second straight record finish this week. Among individual stocks, Apple fell around 1.5% following its annual fall event, where the tech major unveiled the iPhone 17, iPhone Air, new Apple Watch models, and heart rate–tracking AirPods.

Asian stocks follow Wall Street higher

Following strong cues from Wall Street, Asia-Pacific equities traded higher on Wednesday, led by gains in Hong Kong and Singapore. Sentiment was buoyed by the sharp downward revision in U.S. payrolls, which strengthened expectations of an imminent Federal Reserve rate cut to support growth.

Hong Kong’s Hang Seng and Singapore’s Straits Times rallied up to 1%, while Japan’s Nikkei 225 was up 0.4%. Among others, Indonesia’s Jakarta Composite rose 0.8% and Australia’s ASX 200 was up 0.2% in the final hour of trade.

Meanwhile, the Chinese markets opened slightly lower as investors awaited key August inflation data.

Shares in focus today

Kotak Mahindra Bank : Sumitomo Mitsui Banking Corporation is reportedly planning to exit Kotak Mahindra Bank by selling its entire 1.65% stake through block deals.

Vodafone Idea : The telecom operator has moved the Supreme Court, contesting the calculation of additional AGR dues and seeking a reassessment of its liabilities.

Tata Motors:  The automaker has signed a share subscription and shareholders’ agreement with Tata Power Renewable Energy to acquire a 26% stake in its two subsidiaries—TP Paarthav and TP Marigold—set up as special purpose vehicles (SPVs).

Eicher Motors : Royal Enfield will fully pass on the GST rate reduction benefit to customers across its motorcycles, service, apparel, and accessories portfolio, effective September 22.

Bajaj Auto:  The auto company will pass on the benefit of the recent GST cut to customers, effective September 22. Prices of two-wheelers will be reduced by up to ₹20,000, while three-wheelers will see cuts of up to ₹24,000 across Bajaj and KTM models.

Sun Pharmaceutical Industries : The U.S. FDA has placed Sun Pharma’s Halol facility under “Official Action Indicated” (OAI) status, citing non-compliance with certain current good manufacturing practices (CGMP).

ICICI Prudential Life Insurance : The board will meet on September 12 to consider raising funds through the issuance of non-convertible debentures (NCDs) on a private placement basis, in one or more tranches.

Blue Jet Healthcare : Promoter Akshay Bansarilal Arora will offload up to 1.18 crore shares (6.83% stake), including a greenshoe option of 59.25 lakh shares (3.42%), via an offer-for-sale (OFS) on September 10-11.

HEG: Bhilwara Energy, an associate company of HEG, has acquired Statkraft’s 49% minority stake in Malana Power Company, making it the sole owner.

Sterling and Wilson Renewable Energy : The company has received a Letter of Intent (LoI) from a private Independent Power Producer (IPP) for an EPC contract worth ₹415 crore.

Thermax: The company has invested ₹115 crore in subsidiary First Energy (FEPL) to fund its wholly owned unit, First Energy (FE10). Both subsidiaries have completed equity allotments against this investment.

Bharat Electronics : The company will distribute a final dividend of ₹0.90 per share on September 23.

Mamata Machinery: The company has secured its third consecutive international order for a nine-layer blown film plant under its co-extrusion product line.

Bikaji Foods International:  Addressing a summons from the Enforcement Directorate regarding the Rajasthan Premier League, Bikaji stated that its involvement was limited to sponsorship.

IPOs: The public issues of Urban Company, Shringar House of Mangalsutra, and Dev Accelerator will be open for bidding today.

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