Nifty set for cautious opening; Maharashtra polls and corporate earnings in focus

Benchmark indices, Sensex and Nifty50, are expected to open on a flat-to-negative note today, influenced by weak global cues. As of 6:36 AM, GIFT Nifty Futures hinted at a gap-down start, down by 113.7 points at 23,488 levels. In the previous session, Nifty50 lost 0.11 per cent to close at 23,532.70, while Sensex dipped 0.14 per cent, ending at 77,580.31.

Markets will remain closed on Wednesday due to the Maharashtra Assembly elections. Investors will keep a close watch on Q2 earnings reports from major companies like Hero MotoCorp, Grasim Industries, and Nazara Tech. Additionally, November’s services and composite PMI flash figures, set for release on Friday, will be in focus.

Foreign Institutional Investors (FIIs) were net sellers, offloading shares worth Rs 1,849.87 crore on November 14, while Domestic Institutional Investors (DIIs) purchased Rs 2,481.81 crore worth of equities.

The mainline IPO of Zinka Logistics and the SME IPO of Onyx Biotec enter their final day of subscription. Neelam Linens and Garments (India) Ltd will make its market debut today.

Asian markets opened mostly lower, with Japan's Nikkei dropping 1.16 per cent and Australia's ASX 200 down 0.33 per cent. Investors remain cautious ahead of China's loan prime rate decision on Wednesday and key economic data from Japan and Australia this week.