Sensex, Nifty to open flat amid mixed global cues; Tata Motors shares in focus

The Indian equity markets are set for a tepid start today, tracking mixed global cues. The US markets rebounded after dropping sharply as US President Donald Trump threatened to impose 100% additional tariffs on China amid new restrictions on rare earth minerals. Wall Street ended higher in overnight trade, while the Asian markets traded mixed. 

Japan’s Nikkei 225 dropped 1.15%, and Hong Kong’s Hang Seng fell by 0.03%, while the rest followed the US cues and advanced. South Korea’s KOSPI rose by 0.80%, the Shanghai Composite by 0.47%, and Singapore’s Straits Times increased marginally by 0.09%. 

The S&P 500 jumped 1.56% to end the session at 6,654.72, while the Nasdaq closed 2.21% higher at 22,694.61, clocking the highest rally in a day. The Dow Jones Industrial Average rallied 1.29% to 46,067.58. 

On the domestic front, the GIFT Nifty Futures index indicated a flat start with a slight positive bias. At 8:20 am, the GIFT Nifty was at a 12-point premium, changing by 0.05%.

Yesterday, the Sensex fell 173.77 points, or 0.21%, to close at 82,327.05, while the Nifty50 declined 58.00 points, or 0.23%, to 25,227.35.

Investors will continue to track Q2 results, while India’s retail inflation was recorded at 1.54% in September, an 8-year low, slipping below the Reserve Bank of India’s 2% to 6% range. Core inflation was at 4.43%, rising sharply due to gold and silver prices soaring ahead of the festive season.

Stocks in focus:

Tata Motors: The company fixed October 14 as the record date to determine shareholders’ eligibility to receive shares in its demerged commercial vehicles business. These shareholders will get one share of the demerged entity for every one share of Tata Motors they own. 

Anant Raj: The company approved the issue and allotment of 1,66,16,314 equity shares to eligible qualified institutional buyers at an issue price of ₹662.00 per equity share, aggregating to ₹1,100 crore. 

Highway Infrastructure Limited: The company has received the Letter of Acceptance (LOA) for the operation of an eight-lane access-controlled expressway at Laban Village in the district of Bundi to the Interchange of Fee Plaza at Gopalpura village in Kota district. The Letter of Award (LOA) was issued by the National Highways Authority of India (NHAI). 

Oil India: The company announced mechanical completion of the upgradation of the facilities of the Numaligarh–Siliguri Product Pipeline (NSPL). The project aims to enhance the transportation capacity of the existing pipeline from 1.72 million metric tonnes per annum (MMTPA) to 5.5 MMTPA.