Sensex, Nifty50 likely to open in the red amid volatility: Adani group, SBI Cards, Indigo among stocks to watch
- India’s benchmark indices
Sensexand Nifty50are likely to open in the red on Tuesday amid increased volatility. SGX Nifty, an early indicator of how the markets may perform, was down 0.18% or 33 points early in the morning today. Adani group, SBI Cardsand InterGlobe Aviation ( Indigo) are amongst stocks to watchtoday.
AdvertisementIndia’s benchmark indices Sensex and Nifty50 are likely to open in the red on Tuesday amid increased volatility. SGX
Earlier on Monday, markets closed 0.3% in the green led by auto and private banking stocks.
Gold prices edged up to ₹59,800 per 10 grams while silver was hovering at ₹71,900 per kilogram. Crude oil prices eased a tad, with Brent crude hovering at $76 per barrel.
US markets head lower
Markets in the US headed lower following gains made in the previous week on the US debt ceiling proposal. Dow Jones closed 0.59% lower while S&P 500 lost 0.2%. The tech-heavy Nasdaq closed 0.09% in the red after Apple pared its gains to close lower ahead of the launch of its virtual reality headset.
Asian markets remained upbeat on Tuesday, led by Hang Seng which rallied 1.07%, followed by KOSPI which was up 0.54% and Nikkei 225 which gained 0.41%. Taiwan Weighted was up 0.33% while Shanghai Composite was trading 0.11% in the green.
Stocks to watch
Adani group: The Gautam Adani-led group announced that it has completed the prepayment of margin-linked financing amounting to $2.15 billion. The group promoters have also prepaid the $700 million debt taken for the Ambuja Cement acquisition.
SBI Cards and Payment Services: The credit card provider’s board has approved raising ₹3,000 crore through non-convertible debentures on a private placement basis.
InterGlobe Aviation (Indigo): The airline said it aims to carry 100 million passengers in FY24, up from 86 million in FY23. Indigo CEO Pieter Elbers said that the airline expects to have 350 aircraft in its fleet by the end of FY24.
AdvertisementState Bank of India: Its board will meet on June 9 to consider raising funds in FY24 through debt instruments on a private placement basis.
Indian Energy Exchange: The energy exchange reported an 8% YoY rise in volume to 8,251 million units. It expects power demand to increase in the coming months.
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