Sensex, Nifty Set for Flat Opening Amid Global Cues
- Sensex and Nifty likely to open flat amid mixed global cues and trade optimism.
- Biocon opens US unit, DRL completes $50.5 mn acquisition, Tega eyes $1.5 bn Molycop deal.
- Bajaj Finserv premiums surge, Jupiter Wagons wins Rs 113 cr order, Mazagon talks submarine project.
Indian stock markets are expected to open on a cautious note today, September 11, taking cues from global trends and supportive comments from US President Donald Trump on trade relations with India.
At 7:05 AM, GIFT Nifty futures were trading just 9 points higher at 25,081, hinting at a flat start for domestic benchmarks. On Wednesday, the Sensex gained 323.83 points, or 0.40 per cent, to close at 81,425.15, while the Nifty50 rose 104.50 points, or 0.42 per cent, to settle at 24,973.10.
Across Asia, markets showed mixed movement as investors tracked Wall Street’s overnight performance. The S&P 500 climbed 0.3 per cent to a record 6,532.04, while the Nasdaq inched up 0.03 per cent to 21,886.06. The Dow Jones, however, fell 0.48 per cent, dragged down by Apple shares following its latest iPhone launch.
Here are the top stocks likely to be in focus today:
Biocon: The company has opened its first manufacturing facility in the United States, located in Cranbury, New Jersey.
Tega Industries: In partnership with Apollo Funds, the company signed a term sheet to acquire Molycop in a $1.5 billion deal. The board will meet on September 13 to discuss fundraising plans.
Mazagon Dock Shipbuilders: The firm has begun talks with the Indian Navy regarding the Submarine Project P-75(I).
Bank of Baroda: The bank reduced its overnight MCLR by 10 basis points to 7.85 per cent and its three-month MCLR by 15 basis points to 8.20 per cent, effective September 12.
Muthoot Finance: The company invested Rs 199.99 crore in its subsidiary Muthoot Homefin to strengthen its capital base.
Bajaj Finserv: Insurance subsidiaries reported August premium collections of Rs 2,063.22 crore for Bajaj Allianz General and Rs 1,484.88 crore for Bajaj Allianz Life.
Jupiter Wagons: Its subsidiary received a Rs 113 crore order from Indian Railways for supplying 9,000 LHB axles.
Deepak Fertilisers: To invest Rs 13.2 crore in Murli Solar and Sunsure Solarpark for renewable energy needs.
Dr. Reddy’s Laboratories: Completed the $50.5 million acquisition of the Stugeron brand from Johnson & Johnson across 18 APAC and EMEA markets.
Other stocks in focus include Adani Ports, GMR Airports, RVNL, Keystone Realtors, Torrent Pharma, RateGain, Highway Infrastructure, Five-Star Business Finance, Bajaj Holdings, and Sasken Technologies.
With mixed global cues and sector-specific updates, investors are likely to track these companies closely through today’s session.
