NIFTY50, SENSEX on October 15: US market cues, FII activity, key things to know before markets open

The Indian equity markets are set to open higher on Wednesday, October 15, as indicated by GIFT NIFTY futures. NIFTY futures at GIFT City in Ahmedabad rose 80 points or 0.32%to 25,285 amid strong cues from other Asian markets. The Indian stock markets fell for a second consecutive day on Tuesday dragged down by losses in Tata Motors, Bajaj Finance, TCS, Axis Bank, Larsen & Toubro and Bharat Electronics.

Asian markets

Most of the Asian markets were trading higher as expectations US Fed rate cut lifted sentiment and surpassed tensions over US-China trade tensions.

Japan's Nikkei rose 0.95%, Singapore's Straits Times advanced 0.32%, Hong Kong's Hang Seng climbed 1.45% and South Korea's KOSPI jumped 1.41%.

Wall Street update

Overnight, US stocks ended lower after bouncing between gains and losses as trade tensions continued to simmer between Washington and Beijing.

The S&P 500 closed 0.2% lower after shifting between a steep morning loss and a recovery in the afternoon. The Dow Jones Industrial Average climbed 0.4% and the Nasdaq composite dropped 0.8% after making similar swings. The moves mark yet another series of sharp twists for markets over the last few days.

Wall Street tumbled on Friday for its worst day since April and bounced back on Monday for its best day since May. The swings were prompted by shifting trade sentiment between the U.S. and China.

The latest swing follows China’s Commerce Ministry banning dealings by Chinese companies with five subsidiaries of South Korean shipbuilder Hanwha Ocean, swiping at President Donald Trump’s efforts to rebuild the industry in America. European markets were mixed and Asian markets fell, news agency AP reported.

FII/DII activity

Foreign institutional investors sold shares worth ₹1,509 crore on Tuesday while domestic institutional investors bought shares worth ₹3,661 crore, data from the National Stock Exchange showed.

The FIIs have so far this month bought shares worth ₹4,208 crore and for the calendar year they have been net sellers to the tune of ₹1,50,312 crore, according to the data from National Securities Depository Limited (NSDL).

Stocks to watch

The initiative aims to enhance transparency, efficiency and uniformity in the conduct of driving tests across Tamil Nadu by leveraging advanced technology and automation, thereby contributing to improved road safety standards in the state.

The signing of the agreement comes after Transport Minister S S Sivasankar made an announcement in the Assembly in 2023-24 that the Tamil Nadu government has initiated the automation of driving testing tracks across 20 Regional Transport Offices in the state.

In an official release on Tuesday, Maruti Suzuki India Ltd, under its Corporate Social Responsibility programme has come forward to automate the existing conventional driving testing tracks.

The company had posted a net profit of ₹13.74 crore in the July-September period a year ago, according to a regulatory filing from GTPL Hathway, a firm owned by Reliance Industries Group.

However, its total revenue was up 12% to ₹959.05 crore in the September quarter. It was at ₹855.56 crore in the corresponding period a year ago.

The post-tax profit is lower than the ₹1,250 crore it had posted in the year-ago period and marginally higher than the ₹1,141 crore it reported in the preceding June quarter.

Its revenue grew to ₹13,995 crore from ₹13,313 crore a year ago and ₹13,351 crore in the quarter-ago period, as per an exchange filing.

Its managing director and chief executive Mohit Joshi said the Americas saw an over 2% decline in revenues during the quarter, mainly due to macroeconomic issues. From a sectoral perspective, its key vertical of communication witnessed a 2.5% decline.

Bank of Maharashtra’s provisions for non-performing assets (NPA) came down by 2.5% to ₹583 crore from ₹598 crore in the year-ago period.

Ola Electric Chairman and Managing Director Bhavish Aggarwal has hinted at a major announcement on October 17, suggesting the company's entry into the segment.

In a tweet, Aggarwal stated that power in India is transitioning "from utility to deep tech – intelligent, portable, and personal", signalling a potential shift beyond the company's core electric vehicle business.

Industry sources speculate the announcement could involve Battery Energy Storage Systems (BESS) for homes and businesses, leveraging Ola's existing 4680 Bharat Cell technology from its Tamil Nadu Gigafactory, the PTI report said.

Trade setup

On the technical front, the NIFTY50 posted a bearish engulfing candlestick pattern, indicating a loss of bullish momentum in the markets. Experts believe that the index could consolidate further amid the absence of major political triggers.

On the options data front, the initial open interest buildup for the coming weekly expiry suggests a narrow range of 25,000 to 25,200. The 25,200 calls hold the highest open interest, indicating near-term resistance, while the 25,000 puts hold the highest open interest, indicating strong support.