GIFT Nifty Opening Update
GIFT Nifty opened today at 24,298.50. It is down -74.50 points (-0.31%) from yesterday’s close of 24,375.00— so the trend is negative.
The Indian stock market benchmarks, Sensex and Nifty 50, concluded lower on Monday, August 17, as investors exhibited caution and maintained a preference for select sectors and stocks in light of stronger-than-anticipated Q1 FY27 earnings and ongoing geopolitical concerns. The Sensex experienced a decline of 281 points, representing a decrease of 0.36%, concluding the day at 77,728.16. Meanwhile, the Nifty 50 saw a reduction of 78 points, or 0.32%, finishing the session at 24,287.65. On Monday, the market is expected to commence in negative territory as indications from the Gift Nifty index suggest a gap-down opening. Gift Nifty was positioned around the 24,320 level, reflecting a decline of more than 72.70 points from the prior closing of Nifty futures.
“Indian equities are expected to open on a cautious note on Tuesday as GIFT Nifty futures indicate a mildly weaker start, suggesting that investors are likely to remain defensive after the benchmark indices extended their recent losing streak, with higher energy prices once again emerging as the dominant driver of market sentiment,” said Hariselvan Radhakrishnan.
As the market indicates a negative opening, certain stocks are expected to attract attention on Tuesday owing to their individual positive or negative catalysts.
Equities to Monitor:
- Paytm – Resilient Asset Management B.V., the parent and promoter entity of Vijay Shekhar Sharma, is poised to divest as much as 4.98% of its stake in One97 Communications Ltd, which owns the Paytm brand, via a block deal, as indicated by reports.
- Bharti Airtel – Airtel Payments Bank has announced a change in its leadership, with Sunil Bharti Mittal set to end his tenure as Non-Executive Chairman and resign from the Board effective September 30.
- Netweb Technologies has initiated a Qualified Institutional Placement aimed at raising up to Rs 1,200 crore. The indicative issue price has been set within the range of Rs 4,710– Rs 4,790 per share.
- Lupin – Lupin Pharma major Lupin Ltd on Monday announced that it has secured final approval from the US health regulator for its generic version of Pitolisant tablets, used to treat excessive daytime sleepiness.
SpiceJet – The National Company Law Tribunal on Monday deferred its decisions on eight insolvency petitions lodged against SpiceJet by aircraft lessors, following a last-minute settlement reached between the airline and one of the lessors. - Lloyds Engineering Works Limited has secured a 51.13% stake in Steel Infra Solutions Company Limited, thus establishing itself as the holding company of SISCOL effective August 17.
- Samvardhana Motherson International will acquire a controlling interest in Shenzhen Autocruis Technology Co. Ltd through its indirect wholly owned subsidiary, SMR Automotive.
- Manipal Health Enterprises has entered into a Business Transfer Agreement with Kindorama Healthcare to acquire the complete business operations and assets of Kinder Hospital, located in Bengaluru’s Doddanekundi Industrial Area, for Rs 130 crore.
- Highway infrastructure has obtained a Rs 80.17 crore Letter of Acceptance from the National Highways Authority of India for the operation of the Palayam Fee Plaza in Tamil Nadu.
- DCX Systems – The cable and wire harness assembly manufacturer has secured purchase orders totalling approximately Rs 15.19 crore from clients as part of its regular business operations.
