In the anticipation of a subdued start to the week, Indian equity markets are expected to open with marginal movements, as indicated by GIFT Nifty on Sunday. The benchmark indices, BSE Sensex and NSE Nifty 50, are likely to reflect this cautious sentiment following mixed global cues and recent domestic economic developments.
On Friday, the NSE Nifty 50 closed lower by 65.90 points, settling at 23,501.10, while the BSE Sensex ended the day down by 269.03 points at 77,209.90. GIFT Nifty, trading up by a mere 9.50 points or 0.04% at 23,457, provided a modest indicator of the market’s opening trend for Monday.
Market analysts point to various factors influencing the current sentiment. Globally, the decline in US bond yields has resulted in robust Foreign Institutional Investor (FII) inflows into Indian markets over recent days. Domestically, sectors such as fertilizers have shown positive momentum, driven by potential changes in GST rates and Minimum Support Prices (MSP).
Stocks That Will Remain In Focus Today:
CarTrade Tech: Highdell Investment and Macritchie Investments are set to sell stakes totaling 10.4% in CarTrade Tech through block deals on Monday. Priced at Rs 820 per share, reflecting a 4.3% discount to Friday’s closing, the transaction is expected to reach Rs 500 crore, including an option for an additional Rs 100 crore. Post-sale, a 75-day lock-in period will apply to the sellers.
Fertilizer Stocks: The GST Council has forwarded the request for a GST reduction on fertilizers to a Group of Ministers (GoM) for further review, underpinning optimism in the sector.
TVS Motors: TVS Motors has partnered with CSC Grameen e-Stores to enhance distribution channels for its three-wheeler commercial vehicles, utilizing CSC’s extensive rural network.
Cipla: Cipla faces scrutiny from the USFDA with six observations on its Goa facility, ongoing since June 2024, while its Indore plant remains under a warning letter since November 2023.
Pfizer Limited: The company contests a Rs 14.19 lakh penalty imposed by the Deputy Commissioner of State Tax in Dehradun for the financial year 2017-18, intending to challenge the demand.
Sun Pharma: Sun Pharma’s Phase-1 trial results for GL0034 (Utreglutide), a potential GLP-1 inhibitor for obesity, signal promising future prospects in its specialty pharmaceuticals segment.
IREDA: IREDA successfully raised Rs 1,500 crore through oversubscribed bonds, reinforcing investor confidence in the renewable energy sector.
MCX: MCX advances in its CEO search process, anticipating regulatory approval for its new leadership.
Prestige: Prestige Estate plans to raise Rs 5,000 crore via Qualified Institutional Placement (QIP), reflecting bullish sentiment in real estate markets.
Honeywell Automation India: Honeywell Automation India contends a reduced penalty notice from Maharashtra’s Department of Registration and Stamps, stating minimal financial impact.
Amidst these developments, market participants remain cautious yet hopeful of emerging opportunities in key sectors. Analysts advise investors to watch these stocks closely for potential movements amid ongoing market volatility.
As the trading day unfolds, market watchers will closely monitor these developments for their potential impact on broader market sentiment and individual stock performances.
