Sensex, Nifty to open higher; Jindal Steel, Apollo Tyres, Urban Company shares in focus

The Indian equity markets are poised to start on a positive note, tracking mixed cues from global markets. At 8:30 am, the Gift Nifty was trading 67.50 points, or 0.27%, higher at 25,403, indicating gap-up opening for the Sensex and Nifty. 

The US benchmark indices closed in the negative on Tuesday after sustaining a rally, while the Nasdaq and S&P 500 notched record highs. The Nasdaq closed 0.07% lower, the S&P 500 was down by 0.13%, whereas the Dow Jones Industrial Average also declined by 0.27%. 

The US equities traded in the red, as the Federal Reserve’s interest rate cut hopes faced headwinds from positive retail sales data from the United States’ Census Bureau. Retail sales rose 0.6% last month after an upwardly revised 0.6% advance in July, while rising 5% on a YoY basis. Even unexpected positive manufacturing output weighed down the rate cut expectations. Manufacturing output increased by 0.2% last month after a downwardly revised 0.1% fall in July, as per the Federal Reserve. 

The Asian markets were a mixed bag after tracking a decline in the US markets. Japan’s Nikkei 225 index advanced by 0.16%, whereas Singapore’s Straits Times was trading 0.29% lower. South Korea’s KOSPI dwindled by 0.96%, while the Shanghai Composite was up by 0.06% from its previous trade. 

Brent Crude and crude oil declined by 0.12% and 0.19% respectively, as traders weighed in supply risks from Ukrainian drone attacks on Russian energy infrastructure. 

On the other hand, Indian investors would be tracking developments surrounding the US-India trade deal, as a delegation of officials from the office of the United States Trade Representative, led by Chief Negotiator for India-US Bilateral Trade Agreement negotiations, Mr. Brendan Lynch, visited India on September 16, for bilateral trade talks.

 “Acknowledging the enduring importance of bilateral trade between India and the U.S., the discussions were positive and forward looking covering various aspects of the trade deal. It was decided to intensify efforts to achieve early conclusion of a mutually beneficial Trade Agreement,” the Ministry of Commerce and Industry said in a statement.

Stocks in focus:

Urban Company - Shares of Urban Company will make its debut on the BSE and NSE today.

Jindal Steel - Jindal Steel International, the international steel arm of the Naveen Jindal Group, said in a statement on Tuesday that it will enter into discussions with Thyssenkrupp and has submitted a non-binding offer for the company.

Apollo Tyres - The BCCI announced Apollo Tyres as the new principal sponsor of Team India, after Dream11 stepped down. 

RailTel Corporation of India - RailTel has secured a work order valued at ₹105.74 crore from the State Project Director, Bihar Education Project Council (BEPC), for the procurement, supply, and installation of smart classrooms/KGBVs across Bihar. It also received a Letter of Acceptance (LOA) from the Bihar State Educational Infrastructure Development Corporation Limited for the Development of a hybrid Smart Classroom and ICT Lab at different colleges and universities in Bihar under the PM-USHA Scheme. 

Coal India- The company has been declared as the preferred bidder by the Ministry of Mines, Government of India, for Ontillu- Chandragiri REE Exploration Block pursuant to NIT dated 30.03.2025 issued by the Ministry of Mines.