Nifty set to open on a flat note amid stable cues from Asian markets

Indian equity benchmarks are set to open on a flat note as indicated by Nifty futures tred on Gift Nifty amid stable cues from or Asian markets. Nifty futures on Gift Nifty rose 0.08 per cent or 21 points to 25,411 indicating a flat start for Indian markets.

Asian markets opened quietly on Monday as investors prepared for a week full of critical data, leing up to a US jobs report that could influence size of an anticipated rate cut later this month.

With markets in US and Cana closed for a holiday, tring was thin, while gains by far-right parties in German state elections introduced new political uncertainties. US dollar held onto Friday's gains following strong spending data, reducing expectations of a more aggressive half-point rate cut from Federal Reserve.

Futures are fully pricing in a 25-basis-point cut on September 18, with a 33 per cent chance of a 50-basis-point reduction. Markets also expect a total of 100 basis points in cuts by December and 120 basis points by 2025.

Bank of Cana is expected to announce anor rate cut on Wednesday, with a 22 per cent chance of a 50-basis-point reduction.

upcoming US payrolls report on Friday is crucial, with analysts predicting a rise of 1,65,000 jobs and a slight drop in unemployment rate to 4.2 per cent. A strong report is unlikely to disrupt expected rate cut, while a weak report could support views that US economy is on shaky ground, potentially leing to a more aggressive cutting cycle.

Fed officials, including Governor Christopher Waller and NY Fed President John Williams, are scheduled to speak after job data, offering immediate market reactions.

Or significant reports this week include ISM surveys, JOLTS job openings, P employment data, tre figures, and Fed’s Beige Book, keeping investors cautious as S&P 500 futures dipped 0.1 per cent and Nasdaq futures fell 0.2 per cent.

Back home, foreign institutional investors bought shares worth Rs 5,318.14 crore on Friday while domestic institutional investors sold shares worth Rs 3,198.07 crore.

Stocks to watch

Reliance Industries:  National Company Law Tribunal (NCLT) in Mumbai approved media merger between Viacom18 and Star India on Friday, following recent clearance from Competition Commission of India.

ani Energy Solutions:  company signed a share purchase agreement with REC Power Development and Consultancy to acquire Khavda IVA Power Transmission.

itya Birla Capital: Completed sale of a 50 per cent stake in itya Birla Insurance Brokers to Samara Capital’s Edme Services for Rs 252 crore upfront.

Canara Bank: Moody’s has assigned a Baa3 rating with a stable outlook to bank's issuance of up to $500 million in notes.

Life Insurance Corporation of India (LIC):  country’s largest insurer reduced its stake in HDFC AMC to 2.88 per cent from 4.9 per cent.

Insecticides (India):  board approved a share buyback worth Rs 50 crore at Rs 1,000 per share, with a record date of September 11.

Gujarat State Petronet: Announced a restructuring plan on Friday to streamline its operations, consolidating under two key entities: Gujarat Gas Ltd. and GSPL Transmission Ltd.

Solar Energy Corporation, RailTel Corporation of India Ltd., NHPC Ltd., and SJVN Ltd. have been awarded Navratna status by Government of India.

Fortis Healthcare:  company will acquire remaining 31.52 per cent stake in Agilus Diagnostics from PE investors, funding purchase through issuance of Non-Convertible Debentures (NCDs).