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The GIFT Nifty, an early indicator of Nifty 50's performance, traded at 22,882. On Monday, Indian equity benchmarks declined. The BSE Sensex closed 2.46% lower, or 1,836 points, to 72,696.39 and the NSE Nifty 50 fell as much as 2.6% to 22,512.65.
Meanwhile, Asian markets rise after Japan inflation cools. Japan's Nikkei 225 rose 2.2% and the Topix gained 2.47% after inflation eased for a fourth straight month. Australia's ASX 200 advanced 0.74%. Hang Seng futures traded at 25,020 versus the last close of 24,382.47. South Korea's Kospi index rose about 2.01%.
Morgan Stanley maintained its Underweight rating on Asian Paints with a target price of Rs 2126. Dealer checks showed a 6-8% price increase is likely in two parts, with a steeper rise in thinner prices.
Morgan Stanley said paint demand remains weak across markets, with slow retail sales, higher discounts and stronger competition. It added that Berger has raised prices on some solvent-based products and Asian Paints continues to offer dealer and painter incentives to regain retail share, especially in western markets.
Shares of Ivalue Infosolution and GK Energy are on the watchlist due to lock-in expiry.
Epack Durable and LG Electronics are on the watchlist after a tax demand.
Balkrishna Industries plans to raise Rs 750 crore. The fund raise will be through non-convertible debentures.
GOCL Corp is on the watchlist after a Bengaluru land monetisation transaction worth Rs 2261 crore.
Promoter buying has put Electrosteel Castings and HCL Tech in focus.
The government plans to deploy 10,000 air-conditioned electric buses by 2030 and Olectra Greentech, JBM Auto and Ashok Leyland are on the watchlist on the update.
Brent crude has fallen below $100 a barrel. The move puts oil marketing companies and Reliance Industries, IOCL, BPCL and HPCL on the watchlist.
Japan’s consumer price index dropped to 1.3% last month, its lowest level since March 2022.
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