Nifty set to open on a flat note amid mixed cues from Asian markets

The Indian equity benchmarks are set to open on a flat note as indicated by Nifty futures traded at Gift Nifty in Gandhinagar amid mixed cues from other Asian markets. Gift Nifty futures at Gandhinagar fell 0.11 per cent to 25,024.Most of the Asian markets were trading higher barring indices from Chinese markets. Japan's Nikkei rose 0.16 per cent and Australia's S&amp;P ASX 200 rose 0.63 per cent while Hong Kong's Hang Seng fell 0.11 per cent and China's Shanghai Composite declined 0.2 per cent.MSCI's broadest index of Asia-Pacific shares outside Japan, opens new tab was last up 0.2 per cent, after falling 1.11 per cent the previous session to hit a one-month low.Overnight, Wall Street's three major indexes closed higher on Monday as investors looked for bargains after the previous week's sell-off while they also waited for inflation reports in coming days and the Federal Reserve's next policy decision next week.Investors had fled from equities last week when Friday's weaker-than-expected August jobs data followed weak manufacturing data on Tuesday, driving the Nasdaq Composite's biggest weekly loss since January 2022, and the S&amp;P 500's biggest weekly decline since March 2023.The S&amp;P 500 gained 63.01 points, or 1.16 per cent, to end at 5,471.16 points, while the Nasdaq Composite gained 196.83 points, or 1.18 per cent, to 16,884.60. The Dow Jones Industrial Average rose 481.09 points, or 1.19 per cent, to 40,826.50.Back home, foreign institutional investors bought shares worth Rs 1,176.55 crore on Monday while domestic institutional investors purchased shares worth Rs 1,757 crore, data from the National Stock Exchange showed.The Sensex and Nifty snapped their three-day losing streak on Monday with Sensex rising 375 points and Nifty closing above its important psychological level of 24,900.Stocks in FocusGMR Airports: The company is acquiring a 10 per cent stake in Delhi International Airport from Fraport AG for $126 million, raising GMR's stake to 74 per cent.HG Infra: Wins a road project worth Rs 781 crore from the Ministry of Transport.Tata Power: TP Solar Ltd., a subsidiary, begins production at its 2 GW solar cell facility in Tamil Nadu.Religare Enterprises: Mumbai Police file an FIR against three top executives, including Executive Chairperson Rashmi Saluja, following an ED complaint. Charges involve sections 420 and 120B of the IPC.Pharma Companies: GST on cancer drugs, including Trastuzumab Deruxtecan, Osimertinib, and Durvalumab, will drop from 12 per cent to 5 per cent, potentially boosting Abbott India, Zydus Lifesciences, Alkem Laboratories, Natco, Cipla, Biocon, and AstraZeneca Pharma India.Snack Companies: GST on savoury snacks will decrease from 18 per cent to 12 per cent. Watch out for Prataap Snacks, Bikaji Foods International, and Gopal Snacks.Bharat Seats: Faces a GST hike on car seats, rising from 18 per cent to 28 per cent, which could impact their margins.PNB Housing Finance: Board approves issuing non-convertible debentures worth Rs 2,500 crore in tranches over six months.Ahluwalia Contracts: Secures two housing project contracts worth Rs 1,307 crore from SignatureGlobal.Sona BLW: Raises Rs 2,400 crore via QIP, issuing 3.5 crore shares at Rs 690 each to QIBs.

Advertisement

Nifty set to open on a flat note amid mixed cues from Asian markets

Foreign institutional investors bought shares worth Rs 1,176.55 crore on Monday while domestic institutional investors purchased shares worth Rs 1,757 crore.

Advertisement