Sensex, Nifty50 open higher amid mixed cues in US and Asian markets – Airtel, Dabur, Delhivery among stocks to watch out for

• Indian benchmark indices opened on a positive note on Wednesday amid mixed cues in global markets ahead of the holiday season.
• The 30-stock Sensex opened 291 points higher at 61,994, while the 50-stock Nifty50 opened 50 points higher at 18,435.
• Bharti Airtel, Dabur India, Delhivery and Jubilant Foodworks are amongst the stocks to watch out for on Wednesday.

Sensex and Nifty50 opened on a positive note on Wednesday amid mixed cues in US and Asian markets. SGX Nifty, an indicator of how the markets may perform, was up 0.4% or 70 points earlier in the morning today.

The 30-stock Sensex opened 291 points higher at 61,994, while the 50-stock Nifty50 opened 50 points higher at 18,435.

Earlier yesterday, Sensex and Nifty50 closed marginally lower after experiencing volatility, closing the day 0.2% in the red.

“Indian markets could open higher, in line with mostly higher Asian markets today and positive US markets on Tuesday,” said Deepak Jasani, head of retail research at HDFC Securities.

US markets snap four-day losing streak
Markets in the US snapped a four-day losing streak, closing marginally higher on Tuesday even as concerns lingered about demand during the crucial holiday season.

The S&P 500 index closed 0.1% up, while the Dow Jones Industrial Average ended 0.28% higher. The tech-heavy Nasdaq was flat, closing the day with just 0.01% gains.

“U.S. stocks finished modestly higher on Tuesday, bouncing after a four-session skid, as investors gauged whether the recent losing streak in equities has been overdone. Traders also weighed the potential ripple effects of the Bank of Japan’s surprise announcement to put a higher ceiling on government bond yields,” added Jasani.

In Asia, markets were mixed on Wednesday morning amid a surge of Covid-19 cases in China. While the Hang Seng index gained 0.36%, the Shanghai Composite was up 0.25%, and Taiwan Weighted gained 0.68%. Nikkei 225, on the other hand, was down 0.22%.

Besides, today is the last day to subscribe to KFin Technologies IPO that has been subscribed only 70% so far. Moreover, it is the second day to subscribe to Elin Electronics IPO that has been subscribed 37% on the first day.

Stocks to watch out for on Wednesday

Dabur India: Burman family entities sold approximately 1% of the company’s equity through a block deal on Tuesday.

Bharti Airtel: The telecom operator announced that it has acquired 8% stake in technology startup Immensitas, which runs Lemnisk, under the Airtel Startup Accelerator Program.

Delhivery: The logistics company has acquired Pune-based Algorhythm Tech that provides supply chain solutions for ₹14.90 crore.

Jubilant Foodworks: The Domino’s operator announced that it will add another 1,300 stores across the country, taking the total count to over 3,000. It currently has 1,701 stores across 371 Indian cities.

Adani Green Energy: Received the Zero Waste to Landfill certification after an audit by Intertek for its total operating capacity. This indicates that the company has an effective waste management system.

Stocks in F&O ban on Wednesday
Delta Corp, GNFC, Indiabulls Housing Finance, IRCTC and PNB are in the list of stocks under the F&O ban on Wednesday.

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