Indian Equities Set for Positive Opening; CPI Hits 6-Year Low; HAL, Tata Power Results in Focus
On May 13, Foreign Institutional Investors (FIIs) were net sellers, selliing Rs 476.86 crore worth of shares. Domestic Institutional Investors (DIIs) bought shares worth Rs 4,273.80 crore during the same period.
Pre-Market Update at 8:00 AM: Indian markets are likely to begin Wednesday's session on a strong note, with early cues from Gift Nifty suggesting a gap-up start. As of 7:30 am, Gift Nifty was trading around the 24,726 level, reflecting an approximate 90-point premium over Tuesday’s close and signalling bullish sentiment at the open.
The upbeat mood is supported by encouraging global trends, a sharp drop in retail inflation, and key corporate earnings lined up for the day. India’s CPI inflation for April cooled to 3.16 per cent—its lowest in over six years—down from 3.34 per cent in March and 4.83 per cent in April 2024, reinforcing expectations of a stable interest rate outlook.
Index provider MSCI has announced adjustments to its indices effective post-market on May 30. Coromandel International and FSN E-Commerce Ventures will be included in the MSCI India Index. On the domestic smallcap front, 12 new entries and 21 exclusions are set to reshape the MSCI India Domestic Smallcap Index.
All eyes will be on quarterly earnings from major companies today including Hindustan Aeronautics (HAL), Tata Power, Eicher Motors, Shree Cements, Lupin, and Muthoot Finance, among others, which may drive stock-specific action.
Tuesday’s sharp market correction came after a strong prior session, with the Sensex slipping 1.55 per cent to end at 81,148.22 and the Nifty 50 dropping 1.39 per cent to settle at 24,578.35.
Across Asia, markets traded mostly higher this morning, taking cues from Wall Street’s mixed yet largely optimistic close, as easing US-China trade tensions improved risk appetite.
In the US, inflation data slightly below expectations helped support equities. While the Dow Jones declined 0.64 per cent, the Nasdaq surged over 1.6 per cent, led by gains in tech stocks. The S&P 500 also closed higher, up 0.72 per cent.
Commodity markets saw gold prices dip slightly, with spot gold down 0.1 per cent amid easing geopolitical tensions. Indian gold futures, however, rose by 0.8 per cent to Rs 93,647. Crude oil prices remained near recent highs, supported by trade optimism and a weaker dollar. Brent crude traded at USD 66.34 per barrel, while WTI was at USD 63.40.
On May 13, Foreign Institutional Investors (FIIs) were net sellers, selliing Rs 476.86 crore worth of shares. Domestic Institutional Investors (DIIs) bought shares worth Rs 4,273.80 crore during the same period.
For today, CDSL and Mannapuram Finance continue to remain under the F&O ban list.
Disclaimer: The article is for informational purposes only and not investment advice.