Sensex, Nifty50 may see a muted opening tracking global peers: Adani Ports, Adani Power, Tata Power among stocks in focus

• India’s benchmark indices Sensex and Nifty50 are likely to see a muted opening on Tuesday amid choppy movements in their global peers.
  
• SGX Nifty, an early indicator of how the markets may perform, was down 0.04% or 6 points early in the morning today.
  
• Adani Ports, Adani Power, Tata Power are amongst stocks in focus today.
  

India’s benchmark indices Sensex and Nifty50 are likely to see a muted opening on Tuesday amid choppy movements in their global peers. SGX Nifty, an early indicator of how the markets may perform, was down 0.04% or 6 points early in the morning today.

Earlier on Monday, markets closed lower after a choppy session, led by a drag in banking stocks and Adani Enterprises. The 30-stock Sensex ended 0.51% or 311 points lower at 60,691 while the 50-stock Nifty50 closed 0.56% or 99 points down at 17,844.

The dollar index has also stabilised under 104 after a three-week rally. At 103.86, it is down from a 6-week high of 104.67. The current pause is on account of traders awaiting data and direction from the US Fed.

Global markets remain choppy

Lack of clarity has also led to global markets making sideway movements. The Dow Jones Industrial Average ended 0.28% lower, while the S&P 500 fell 0.3%. The tech-heavy Nasdaq, however, declined 0.58%.

Asian markets were more mixed on Tuesday morning, with Shanghai Composite leading with a gain of 0.14%, followed by KOSPI which was barely in the green, up 0.04%. Hang Seng declined 0.82%, while Taiwan Weighted was down 0.1%. Nikkei 225 was down 0.05%, reflecting the lack of clarity in the markets.

Stocks to watch

Adani Ports & SEZ: The Adani group firm has reportedly repaid ₹1,500 crore loan to SBI Mutual Fund and will also pay a short term debt of ₹1,000 crore of commercial papers due next month.

Adani Enterprises: The company’s subsidiaries ACC and Ambuja Cements will reportedly resume operations at two plants in Himachal Pradesh after 67 days, in Gagal and Darlaghat, after resolving issues over freight rates.

BPCL: The company is planning to raise ₹1,500 crore via private placement of unsecured non-convertible debentures.

Adani Power, Tata Power: Power stocks are expected to remain in focus as the government has invoked an emergency law pushing power plants that run on imported coal to maximize output. The power ministry reportedly expects a peak demand of 229 gigawatts in April.

Vedanta: The government has opposed the company’s proposal to sell its international zinc business to Hindustan Zinc for $2.98 billion on valuation concerns.

Tata Motors: The company has signed a memorandum of understanding with Uber to supply 25,000 XPRES-T electric cars.

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