Sensex, Nifty stare at flat opening on Tuesday; 5 things to know before opening bell today

Domestic equity market benchmarks BSE Sensex and Nifty 50 were set to open flat on Tuesday. Markets started the week on a strong footing on Monday. Market participants will track, IPOs, stock-specific development, trends in COVID-19 cases, news related to coronavirus vaccine, oil prices and movement in rupee, along with other global cues. Analysts believe markets will remain positive on the hopes of stimulus package announcement and further easing of restrictions which will improve demand. “This is a busy week of politics, with U.S. presidential candidates set to debate, while the U.K. and European Union are starting a key round of Brexit talks. Investors would also watch out for GDP data of US and UK to be declared this week,” said Siddhartha Khemka, Head – Retail Research, Motilal Oswal Financial Services Ltd.

SGX Nifty trades in green: Trends on SGX Nifty suggested a flat opening for BSE Sensex and Nifty 50 on Tuesday. Nifty Futures were trading 14 points or 0.12 per cent up at 11,256.50 on Singaporean Exchange.

3 IPOs open today: Following the success of five IPOs so far this month, three more companies, UTI AMC, Mazagon Dock Shipbuilders and Likhitha Infrastructure, are set to launch initial public offerings (IPOs) today. All these three IPOs will remain open for subscription till October 1, 2020.

Bulk and block deals: Max Ventures Investment Holdings sold shares worth nearly Rs 182 cr on Monday through an open market transaction. As per the bulk deal data on the BSE, Max Ventures Investment Holdings offloaded 1.67 crore shares of Max Healthcare at Rs 108.88 apiece, valuing the deal at Rs 181.96 crore. Through a separate transaction, Smallcap World Fund Inc bought 1.14 crore scrips of Max Healthcare at Rs 108.75 apiece. The total deal value stood at Rs 123.97 crore.

FII and DII data: On Monday, Foreign institutional investors (FIIs) offloaded shares worth Rs 26.98 crore, whereas domestic institutional investors (DIIs) bought shares worth Rs 542.34 crore on a net basis, according to the provisional data available on the NSE.

Global markets: Asian stock market were trading higher today. Australian ASX 200 index rose 0.3 per cent and Korea’s Kospi gained 0.9 per cent, while Japan’s Nikkei slipped 0.6 per cent. Market participants will remain cautious ahead of the first US presidential debate which is set to take place today. In overnight trade on Wall Street, US stock indices closed higher. The Dow Jones Industrial Average rose 1.5 per cent, the S&P 500 gained 1.6 per cent, and the Nasdaq Composite was up 1.87 per cent.