The domestic stock markets are likely to open marginally in the red, post the rally on Monday, due to mixed global cues. The S&P 500 and Nasdaq hit record highs on Monday as technology stocks jumped after the Federal Reserve’s dovish comments eased fears of a sudden tapering in monetary stimulus and boosted optimism around an economic recovery. On the other hand, Asia-Pacific shares mostly slipped in Tuesday morning trading as data showed slowing Chinese factory activity growth in August.
Trends on SGX Nifty indicate a negative opening for the Nifty, with a 35-point loss. At 7:30 am, the Nifty futures were trading at 16,929, lower by 35 points or 0.27 per cent, on the Singapore Stock Exchange.
On Monday, the BSE Sensex had surged 1.36 per cent and Nifty had jumped 1.35 per cent on Monday to end at all-time highs.
Stocks to watch in trade in today’s session
L&T has completed the sale of its entire stake in L&T Uttaranchal Hydropower to ReNew Power Services.
Moody’s has assigned B1(hyb) rating to Axis Bank, GIFT City Branch’s proposed USD-denominated, undated, non-cumulative and subordinated Additional Tier 1 (AT1) capital securities being issued out of its Global Medium Term Note (GMTN) programme.
Ramkrishna Forgings has bagged LoI for its forging business worth Rs 120 million per annum from a major global axle manufacturer located in India.
Acrysil has announced further expansion of production capacity by an additional 1,60,000 Quartz Sinks per annum through a greenfield project at Bhavnagar in Gujarat.