Domestic stock markets are likely to open on a negative note on Tuesday, December 17, with the GIFT NIFTY futures trading at 24,661.50, down by 22 points, or 0.09%. This suggests that the NIFTY50 index could open 77 points lower today, continuing a trend of cautious sentiment in the local market.
Globally, U.S. stocks showed a mixed performance overnight. The Dow Jones Industrial Average dipped by 110.21 points, or 0.25%, while the S&P 500 gained 23.03 points, or 0.38%, and the Nasdaq Composite surged 247.17 points, or 1.24%. Asian stocks edged higher, and the dollar held firm as investors await central bank meetings this week, with the U.S. Federal Reserve expected to announce a rate cut.
Among the key stocks in focus today are:
Wipro: The IT major has entered into an agreement to acquire Applied Value Technologies for up to $40 million. The deal, expected to close by December 31, 2024, will expand Wipro’s application services capabilities.
Vedanta: The mining giant announced a fourth interim dividend of ₹8.5 per share, amounting to ₹3,324 crore. The dividend will be paid to shareholders on December 24, 2024.
HDFC Bank: The bank received a second administrative warning from SEBI for a delay in disclosing the resignation of a key executive, raising concerns over compliance.
Mankind Pharma: Shares are likely to remain active as the company moves forward with its Qualified Institutional Placement (QIP) to raise up to ₹3,000 crore.
Other notable updates include Indus Towers’ favorable tax ruling and new infrastructure projects by companies like Texmaco Rail and RVNL.
