NIFTY50, SENSEX today: Wall Street cues, FII activity, key things to know before markets open on August 27

The Indian equity benchmarks are set to open lower on Thursday, August 27, as indicated by GIFT NIFTY futures. NIFTY futures at GIFT City in Gandhinagar fell 66 points to 24,363 amid mixed cues from Asian markets.

The Indian equity benchmarks erased intraday gains and ended lower on Wednesday as investors resorted to profit booking after yesterday's sharp up move.

The SENSEX fell as much as 514 points from the day's highest level and NIFTY50 index touched an intraday low of 24,207 dragged down by heavyweights like Reliance Industries, Bharti Airtel, Larsen & Toubro, Infosys, Mahindra & Mahindra, NTPC and Tata Consultancy Services.

The SENSEX ended 183 points lower at 77,473 and NIFTY50 index declined 127 points to close at 24,208.

Asian markets

Asian markets were trading on a mixed note. South Korea's KOSPI surged nearly 2% after chip giant, NVIDIA's revenue more than doubled in second quarter, igniting a rally in AI related shares. Japan's Nikkei was trading on a flat note while China's Shanghai Composite advanced 0.07% and Hong Kong's Hang Seng declined 0.42%.

Wall Street update

Dow Jones Industrial Average fell 0.2%, S&P 500 index ended on a flat note while tech heavy Nasdaq slipped 0.08%.

Crude oil update

Brent crude futures dropped as much as 1.2% to hit an intraday low of $85.89 per barrel on hopes that talks between Iran and Qatar could lead to the reopening of the strategically important Strait of Hormuz and ease supply disruptions caused by the Middle East war.

FII/DII activity

Foreign institutional investors (FIIs) bought shares worth ₹502.63 crore on Wednesday while domestic institutional investors bought stocks worth ₹6,425.16 crore, as per NSE data.

Stocks to watch

A total of 1,38,53,073 equity shares, representing an 8.38% stake, were offloaded by General Atlantic in Mumbai-based Rubicon Research, as per the block deal data on the BSE and National Stock Exchange (NSE).

General Atlantic Singapore RR Pte Ltd, an affiliate of the US-based global investment firm, sold a total of 1,30,09,701 equity shares in nine tranches, amounting to a 7.86% stake in Rubicon, as per data on the BSE.

The rake, carrying 120 vehicles, including models like Wagon R, Ertiga, Dzire, and Celerio, was flagged off from Maruti Suzuki's Manesar in-plant railway siding on August 18, Maruti Suzuki India said in a statement.

The strategic partnership through a JV will help the company accelerate its transformation into a diversified mobility solution conglomerate, Gabriel India said in a statement.

The JV will develop, manufacture, and sell a range of advanced mobility solutions, including radar, front cameras, lidar, automated driving, and parking control units, with embedded Advanced Driver Assistance Systems (ADAS) software, as well as automotive electronics products such as brake electronic control units (ECUs), steering ECUs, chassis control units and torque sensors.

The notice alleges short payment of taxes during 2020-21 to 2022-23.

In a filing to the BSE, the company said ESL Steel Ltd (ESL) received notice under Section 74(1) of the Central Goods and Services Tax Act, 2017, from the Office of the Joint Commissioner, Central Goods and Services Tax and Central Excise, Ranchi.

US-based Capital Group, through its affiliate American Funds Insurance Series Global Growth and Income Fund, sold 67,64,623 equity shares, representing a 1.04% stake in Mumbai-based Avenue Supermarts, as per bulk deal data on the BSE.

The shares were offloaded at an average price of ₹3,750.58 apiece, taking the deal size to ₹2,537.12 crore.

Details of Avenue Supermarts' share buyers could not be ascertained from the bourse.