Sensex, Nifty set for tepid start amidst mixed global cues; Hyundai, Ola, Tech Mahindra shares in focus

The Indian equity markets would be opening on a muted note after tracking mixed global cues. US-China trade war has escalated as both countries have began to charge additional port fees on ocean shipping firms. China has clarified that it is exclusively imposing those feed on US-build, owned and operated firms, and Chinese built ships will be exempted. 

On the other hand, US Federal Reserve Chaid, Jerome Powell indicated that the central bank will likely cut interest rates twice this year, as there has been a sharp slow down in hiring. 

Reacting to these cues, the Asian markets reacted positively, with Japan's Nikkei 225 rising by 1.29%, Singapore's Straits Times by 0.5% and and Hong Kong's Hang Seng by 1.11%. South Korea's KOSPI soared by 1.80%, while the Shanghai Composite marginally rose by 0.09%. 

US markets, on the other hand closed mixed for the overnight session, as the Dow Jones Industrial Average ended kk the green. 

The Dow Jones Industrial Average gained 202.88 points, or 0.44%, to 46,270.46, but the S&P 500 fell 10.41 points, or 0.16%, to 6,644.31. Even the  Nasdaq Composite declined by 172.91 points, or 0.76%, to 22,521.70.

On the domestic front, the Gift Nifty index indicated towards a flat start for the Indian benchmark indices. At 8:30 am, the Gift Nifty index was 18 points or 0.07% higher, at 25283.50.

Sensex and Nifty ended lower in yesterday's session, extending losses for the second consecutive day. 

The Sensex declined 297.07 points, or 0.36%, to close at 82,029.98, while the Nifty 50 was down 81.85 points, or 0.32%, to 25,145.50.

Stocks to watch today

Vedanta - The Competition Commission of India (CCI) has approved Vedanta's acquisition of Jaiprakash Associates. This transaction is will be in accordance to a corporate insolvency resolution process (CIRP) under the Insolvency and Bankruptcy Code.

Ola Electric Mobility - The electric two-wheeler manufacturer has announced to launch a new product in the energy space on October 17 via a premiere on its official social media handles.

Hyundai Motor India - The company announced that the board has accepted the Succession Plan for the Managing Director of the company, where Unsoo Kim, current Managing Director, would return back to South Korea to a strategic role at Hyundai Motor Company on December 31, 2025. Tarun Garg, presently serving as Whole-time Director, will succeed Unsoo Kim as the Managing Director & Chief Executive Officer (CEO) of the company, effective January 1, 2026.

Tech Mahindra - The IT company's stocks will be in focus as it reported its Q2 earnings. While revenue grew by 5.1% on a YoY basis, to Rs 13,994.9 crore from Rs 13,313.2 crore, profit fell 4.4%, from Rs 1,250.1 crore in Q2FY2025 to Rs 1,194.5 crore in the quarter under review.

Persistent Systems - The IT company recorded a strong Q2 performance, reporting a profit surge 45.1% to Rs 471.5 crore from Rs 325 crore last year's second quarter. Even revenue rose 23.6% to Rs 3,580.7 crore Vs Rs 2,897.2 crore

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