Gift Nifty live: Nifty set to open higher amid strong cues from Asian markets

Gift Nifty live updates: The Indian equity benchmarks are set to open higher as indicated by Gift Nifty futures traded at Gift City in Gandhinagar. Gift Nifty rose 71 points or 0.28 per cent to 25,255 amid strong cues from other Asian markets.

Asian stocks rallied and the dollar reached a fresh seven-week peak on the yen on Monday after blowout US labour data dispelled fears of a recession and spurred a sharp paring of rate-cut bets.

Short-term US Treasury yields rose after the closely watched non-farm payrolls report on Friday showed the economy unexpectedly added the most jobs in six months in September.

Crude oil prices eased from a one-month peak even as Israel bombed targets in Lebanon and the Gaza Strip, with Monday marking one year since the Hamas attack that triggered the war.

Japan's Nikkei led regional equity gains with a 2 per cent rally given additional momentum by the softer yen.

Australia's stock benchmark added 0.12 per cent and South Korea's Kospi gained 0.29 per cent.

Hong Kong's Hang Seng had yet to open, and mainland Chinese stocks remain closed until Tuesday for the Golden Week holiday.

Back home, foreign institutional investors sold shares worth Rs 9,897 crore on Friday while domestic institutional investors bought shares worth Rs 8,905 crore, provisional data from the National Stock Exchange showed.

Stocks to Watch

Apollo Tyres: Life Insurance Corporation of India (LIC) has increased its stake in Apollo Tyres from 4.983 per cent to 5.030 per cent. LIC acquired 3 lakh shares (0.047 per cent stake) through open market transactions on October 3.

Akzo Nobel India: Akzo Nobel NV, the Netherlands-based parent company, has announced a strategic review of its portfolio to reallocate capital towards expanding its core coatings business, particularly focusing on its decorative paints segment in South Asia.

Landmark Cars: The company has received a Letter of Intent from Mercedes-Benz India for a dealership in Patna, targeting high-growth markets in Bihar and Jharkhand , offering sales and after-sales services for Mercedes-Benz vehicles.

Adani Energy Solutions: The company has set up a new subsidiary, Adani Energy Solutions Global, to explore transmission project opportunities outside India, marking its expansion into international markets.

GAIL India: The company has signed an MoU with AM Green to jointly develop renewable energy projects of up to 2.5 GW, alongside green chemical initiatives. The partnership aims to secure long-term carbon dioxide (CO2) supply for eMethanol production and explore hybrid renewable energy projects across India.

Lupin: The US FDA has issued five observations to Lupin’s biotech facility in Pune after conducting an inspection from September 25 to October 4. This follows the pre-approval inspection process for the facility.

BLS International Services: The company has acquired a 100 per cent stake in Dubai-based Citizenship Invest for $31 million (approximately Rs 260 crore). The acquisition strengthens its portfolio with fast-track investor programs for residency and citizenship in over 15 countries.

Jio Financial Services: SEBI has granted in-principle approval for the company and BlackRock Financial Management Inc. to act as co-sponsors in establishing a new mutual fund. This approval sets the stage for a significant venture in the Indian financial sector.

One 97 Communications: Manmeet Singh Dhody has stepped down as CTO - Payments as of October 4, transitioning to a new role as an AI Fellow. Deependra Singh Rathore has been appointed as the new CTO - Payments, effective October 4, after previously serving as Senior Vice President - Technology at Paytm .

Gravita India: The board has approved raising up to Rs 1,000 crore through equity shares. Additionally, Sunil Kansal has been appointed as Whole Time Director, and Rajat Agrawal has been re-designated as Chairman and Managing Director. Mahavir Prasad Agarwal has resigned as Chairman and Whole Time Director, effective October 5.

Bank of Maharashtra : The lender has closed its QIP issue as of October 4, allotting 61.01 crore equity shares to eligible institutional buyers at Rs 57.36 per share, raising a total of Rs 3,500 crore. Investors include LIC, ICICI Prudential Life Insurance, and Aditya Birla Sun Life Insurance.

CG Power & Industrial Solutions: CG Power has signed an Asset Purchase Agreement with Renesas Electronics Corporation to acquire its radio frequency components business for $36 million, marking its entry into the semiconductor design sector.

(With Reuters inputs)