Indian stocks set to open lower on gloomy global sentiment – Reuters

BENGALURU, Sept 23 (Reuters) – Indian stocks are expected to open slightly lower on Friday as global risk sentiment remains subdued amid renewed concerns over economic growth, amplified by Russia’s threat to use nuclear weapons .

India’s NSE stock futures listed on the Singapore exchange were down 0.4% at 0209 GMT, while the broadest MSCI index of non-Japan Asia-Pacific stocks (.MIAPJ0000PUS) was down. down 0.5%.

The NSE Nifty 50 Index (.NSEI) ended down 0.5% at 17,629.80 on Thursday, while the S&P BSE Sensex (.BSESN) fell 0.57% to 59,119.72.

A Federal Reserve determined to fight inflation leaves little hope that this year’s turbulent markets will end anytime soon, as policymakers signal rates are rising faster and higher than many investors expected. were waiting. Read more

Actions to watch:

** India’s Reserve Bank of India on Thursday ordered Mahindra and Mahindra Financial Services (MMFS.NS) to stop using third-party services for loan collection until further orders

**Indian automaker Mahindra & Mahindra (MAHM.NS) is in talks with global investors to raise between $250 million and $500 million to accelerate its plans to build electric vehicles. Read more

**Hero MotoCorp (HROM.NS) has raised the price of its motorcycles and scooters from September 22.

**Indian Oil (IOC.NS) plans maintenance of the Panipat refinery, to revamp the naphtha cracker. Read more

**Tata Steel (TISC.NS) on Thursday approved the merger of Tata Steel Long Products, Tinplate Co, Tata Metaliks, TRF, Indian Steel & Wire Products, Tata Steel Mining with the company.

** Indian refiners are expected to forgo purchases of Russian ESPO crude oil this month due to rising freight rates, turning instead to Africa and the Middle East, industry sources said. Read more

** Somany Ceramics (SOCE.NS) will sell its stake in Amora Ceramics.

** Indian company Zydus Lifesciences (ZYDU.NS) will subscribe for additional shares and debentures of AMP Energy Green Nine.

**Bombay Dyeing And Mfg Co (BDYN.NS) has approved fundraising worth up to 9.40 billion Indian rupees on a rights basis.

** Cipla (CIPL.NS) has received a facility inspection report from US health authorities to inspect its Indore plant.

**Nakoda Group of Industries (NAKD.NS) said the power supply to its Maharashtra factory had been disconnected.

** Muthoot Capital Services (MUTH.NS) will consider raising funds by issuing non-convertible debentures.

** Mefcom Capital (MECM.BO) will consider splitting shares in a ratio of 1:5.

Reporting by Nallur Sethuraman in Bangalore; Editing by Savio D’Souza

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