Sensex, Nifty likely to open tepid; L&T, Tata Motors, ICICI Bank, Tech Mahindra in focus

May 21, 02:12 AM

Indian shares are likely to open little changed on Tuesday, as investors are likely to refrain from taking big bets ahead of the general election outcome on May 23. 

On Monday, the benchmark indices closed at record highs as investors cheered exit poll results that showed a likely win for the ruling NDA in Lok Sabha polls.

The BSE Sensex rose 1,421.90 points, or 3.75 percent, to settle at 39,352.67. Intraday, the 30-share index rose to a high of 39,412.56, mere 74.89 points shy of its record high. Last time the Sensex recorded such a big gain was on May 18, 2009, when it rallied 2,110.79 points to close at 14,284.21.

The Nifty 50 surged 421.10 points, or 3.69 percent, to close at 11,828.25. The 50-share index hit an intraday high of 11,845.20, only 10.95 points away from its 52-week high of 11,856.15.

Stocks in Asia shares wobbled near four-month lows on mounting worries the US' black-listing of Chinese telecom giant Huawei Technologies could further inflame already tense relations between the Washington and Beijing.

At 06:55 AM, the SGX Nifty, an early indicator of the Nifty 50's trend in India, was up 11.50 points, or 0.10 percent, at 11,876.55, indicating a tepid start for the Sensex and Nifty. 

Stocks to watch: L&T, Tata Motors, ICICI Bank, Tech Mahindra in focus.