Sensex, Nifty to open flat on mixed global cues; Dr Reddy’s, Tata Technologies shares in focus

The Indian equities are poised for a tepid start on Monday, tracking mixed cues from global markets. At 8:20 a.m., the Gift Nifty index marginally advanced by 15 points, or 0.06%, from its previous close to 25,173.50, indicating flat opening for Sensex and Nifty.

On the global front, US markets closed on a mixed note on Friday. The Nasdaq added 0.44%, recording a new high of 22,141.10, while the S&P 500 slipped 0.05%. The Dow Jones Industrial Average also declined 0.59% to close at 45,834.22.

The Asian markets, on the other hand, traded positively today. Japan’s Nikkei 225 index closed 0.88% higher, Singapore’s Straits Times was up 0.08% from its previous close, and the Shanghai Composite also advanced 0.10% at the time of reporting.

Global markets are tracking the US-China trade talks, which concluded their first day in Madrid. The discussions addressed strained relations stemming from tariff issues, national security concerns, and ownership of the TikTok app.

Meanwhile, equities will also be keeping a watch on the US Federal Reserve’s interest rate decisions, as a soft job market and cooler-than-expected CPI are seen strengthening the case for a rate cut.

On the domestic front, retail inflation rose to 2.07% year-on-year (YoY) in August from 1.61% in July. Investors will also be tracking the outcome of the Sebi board’s recent reforms, under which the regulator eased the minimum public shareholding (MPS) requirement, reclassified REITs as “equity,” and introduced simpler norms for low-risk foreign investors to participate in the Indian securities market.

Stocks to watch:

Apollo Hospitals - The healthcare major is set to purchase International Finance Corporation’s (IFC) 31% stake in Apollo Health and Lifestyle Ltd for ₹1,254 crore, leading to a 99.2% ownership.

Dr Reddy’s Laboratories - The USFDA has issued a Form 483 with five observations following a Pre-Approval Inspection (PAI) at the company's biologics manufacturing facility in Bachupally, Hyderabad.

Adani Power - The company has signed a 25-year Power Supply Agreement with Bihar State Power Generation Company for 2,400 MW of power supply from a greenfield plant to be set up at Pirpainti, Bihar.

Tata Technologies - Through its wholly owned subsidiary, Tata Technologies Pte, Singapore, the company has executed a definitive agreement to acquire 100% equity in Germany-based ES-Tec GmbH and its subsidiaries (ES-Tec Group) from MW Beteiligungs GmbH for €75 million.