Markets: Indian equity benchmarks are poised for a higher opening on Friday, supported by overnight gains in the U.S. and rising Asian markets, as indicated by GIFT Nifty futures.
At 7:10 AM, GIFT Nifty futures traded at 26,349, 40 points ahead of Nifty futures’ last close. Most Asia-Pacific markets climbed, buoyed by Chinese stock gains.
In Hong Kong, Hang Seng index futures suggested a 3% potential opening gain, while Tokyo’s inflation eased, causing Japan’s Nikkei 225 to rise by 0.52%. Other markets showed mixed trends: South Korea’s Kospi slipped by 0.18%, while Australia’s S&P/ASX 200 gained 0.25%.
U.S. markets also advanced, with the S&P 500 hitting a new record. Several stocks could be in focus today, including:
- Fortis Healthcare: IHH Healthcare ruled out an Agilus Diagnostics listing, while Fortis acquired a 31% stake for Rs 1,780 crore.
- HDFC Bank: Offloading housing and car loans worth billions to reduce its credit load.
- Reliance Infrastructure: Exploring capital-raising options, with a board meeting set for October 1.
- IT Stocks: Accenture’s raised FY25 revenue guidance may put Indian IT stocks in the spotlight.
- NTPC Green Energy: Facing risks from Chinese import restrictions.
- Hindustan Copper: Working on capacity expansion projects.
- Maruti Suzuki: Facing competition from Hyundai’s upcoming IPO.
- Reliance Retail (AJIO): Partnering with H&M for enhanced online presence.
- Ola Electric: Plans to open 10,000 sales outlets by 2025.
- Adani Green Energy: Finalized a joint venture with TotalEnergies.
- Thermax: Expanding in Southeast Asia and Africa with a focus on sustainable solutions.
- SpiceJet: Cleared salary arrears after raising Rs 3,000 crore.
- Biocon: Partnering with Tabuk Pharmaceuticals to commercialize diabetes treatments.
- IDBI Bank: Launched a one-time settlement scheme for retail borrowers.
- IndiGo: Appointed Isidro Porqueras as its new Chief Operating Officer from November 2024.
These developments are expected to drive market sentiment as trading begins today.