Trade Setup Tuesday: Sensex, Nifty May Open Higher; RVNL, Infosys, BPCL, Sonata Software In Focus

The domestic equity market is poised for a positive start today on strong cues from global indices.

The India benchmark indices closed higher in the volatile session on Monday with Nifty 50 up 0.13% at 20,997.10 points and Sensex up 0.15% at 69,928.53 points. On Monday, the Bank Nifty touched a fresh record high of 47,588 in the morning but remained rangebound for the rest of the session. The index closed at a new closing high of 47,314 points. The three major US indices ended higher on Monday.

At market close, the Dow Jones Industrial Average was up 0.43%, while the S&P 500 index advanced 0.39%, and the NASDAQ Composite index gained 0.20%.

FII and DII data

Foreign institutional investors (FIIs) net purchased shares worth Rs 1,261.13 crore, while domestic institutional investors (DIIs) sold Rs 1,032.92 crore worth of stocks on December 11, as per the provisional data on the National Stock Exchange (NSE).

GIFT Nifty Indicates A Positive Start

At 7:16 am GIFT Nifty was up 0.03% at 21,147 points, indicating that the Indian equity market was headed for a positive start today.

Asian Markets Open On A Positive Note

Asian shares opened higher ahead of key US economic data and meetings from major central banks as investors awaited cues on future interest rates.

South Korea's Kospi was up 0.25%, and the small-cap Kosdaq rose 0.09%. Topix was up 0.29%. Hong Kong's Hang Seng index futures were up 0.40% at 16,266.24.

Japan's Nikkei 225 rose 0.59% at 32,986.80 points in the early trade on Tuesday.

Buzzing Stock:

Infosys: The IT giant said Monday that the Board has appointed Jayesh Sanghrajka as the Chief Financial Officer (CFO) and key managerial personnel of the company effective from April 1, 2024. Nilanjan Roy has stepped down as CFO and key managerial personnel of the company. His last date with the company would be March 31, 2024.

Mankind Pharma: According to a CNBC-TV18 report citing sources the drugmaker is likely to see a change of hands up to 7.9% equity through block deal. The total block deal size is expected to be around Rs 5,649 crore. Beige Investment, Link Investment Trust, Cairnhill CIPEF, Cairnhill CGPE, and Hema CIPEF are likely sellers in the block deal.

BPCL: Bharat Petroleum Corporation Ltd (BPCL): The PSU declared an interim dividend of Rs 21. The stock will trade ex-dividend on December 12.

Sonata Software Ltd: Sonata Software Ltd announced a bonus issue in the ratio 1:1. The stock will trade ex-bonus on December 12.

Rail Vikas Nigam Ltd: RVNL shares will remain in focus today as the state-owned company has won an order worth Rs 543 crore from the Madhya Pradesh Metro Rail Corporation.