Sensex, Nifty50 likely to open on a tepid note amid mixed global cues: Adani group, Torrent Power, Mazagon Dock among stocks to watch

• India’s benchmark indices Sensex and Nifty50 are likely to open on a flat note on Wednesday amid mixed global cues.
  
• SGX Nifty, an early indicator of how the markets may perform, was up 0.18% or 29 points early in the morning today.
  
• Adani group, Torrent Power and Mazagon Dock are amongst stocks to watch today.

India’s benchmark indices Sensex and Nifty50 are likely to open on a flat note on Wednesday amid mixed global cues. SGX Nifty, an early indicator of how the markets may perform, was up 0.18% or 29 points early in the morning today.

Earlier on Tuesday, markets closed on a flat note as bulls and bears jostled for dominance.

Gold prices edged up to ₹60,000 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.

Global markets remain mixed

Markets in the US closed in the green, with Dow Jones ending on a flat note while S&P 500 gained 0.24%. The tech-heavy Nasdaq closed 0.36% in the green.

Asian markets were mixed on Wednesday. While Hang Seng which rallied 1.18%, followed by Taiwan Weighted which was up 0.63%, Nikkei 225 was down 1.46%. KOSPI was up 0.34% while Shanghai Composite was trading 0.24% in the green.

Stocks to watch

Adani group: Asia’s oldest stock exchange BSE has increased the circuit limits for four Adani group stocks – Adani Transmission, Adani Green, and Adani Wilmar to 10% from 5% earlier, and Adani Power to 20% from 5% earlier. The new limits come into effect starting today, June 7.

Torrent Power: It signed a memorandum of understanding with the Maharashtra government to develop three hydro projects of 5,700 megawatt capacity. The investment outlay is ₹27,000 crore with the project execution timeline set at 5 years.

Mazagon Dock: Germany and India are closing in on a $5.2 billion diesel submarine deal. German giant Thyssenkrupp AG’s marine arm and Mazaon Dock are expected to bid jointly for the project to build six submarines.

IKIO Lighting IPO: The IKIO Lighting IPO was fully subscribed on the first day. The issue has been subscribed 1.61 times overall so far and will be open for subscription till June 8.

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