Market Update and News Bulletin: 22/09/21

Market Update

▫️Indian markets witnesses a mixed session yesterday, and markets recovered sharply in the second half after fears of contagion effect from the fall out of Evergrande eased.

▫️Sensex and Nifty closed positive at 59,005 (+0.88%) and 17,562 (+0.95%).

▫️ Volatility Index VIX fell by 5.55% to 16.52, reflection increased investor confidence.

▫️Real Estate, IT, Metals, FMCG and Pharma shares fared well, while PSU Bank and Auto extended losses.

▫️ Market breadth remained weak as small and mid cap indices lagged the frontline benchmark. Further, Advance Decline ratio was also Bearish (862:942).

▫️ Ruppee recovered 13 paise to close at 73.61, amid stock rally and weak dollar ahead of Fed’s meet.

▫️Oil prices rose marginally after Monday’s fall, on demand outlook partly offset by supply side issues.

▫️ Gold inched up by ₹231 to ₹46,531, on risk averse stance by investors ahead of US Fed Policy Outcome.

▫️US markets ended slightly negative on Tuesday, amid global slowdown fears due to problems in the Chinese economy.

▫️This morning US futures are trading positive. Asia is mixed, as Chinese benchmarks are trading lower. However, SGX Nifty is indicating a positive start for the Indian markets.

▫️Indian Markets may remain volatile until tomorrow, and will take fresh stance after the Fed’s policy outcome.

▫️Stocks in F&O ban: IDEA, IRCTC, IBULHSGFIN, PNB and SUNTV.

News Bulletin

▫️ Evergrande Chairman eased out tension and affirmed that the Company will fulfill its responsibilities towards property buyers, investors, partners and financial institutions. The Company has $83 million interest coupon due on Thursday, and it will be watched closely if it is able to pay the same.

▫️Stricter regulations to be imposed on e-comm industry , draws internal criticism from certain sections of the govt itself.

▫️Adani Group to invest $20 billion in renewable energy in next 10 years.

▫️India will not buy foreign vaccines: Moderna and Pfizer.

▫️Tata Motors to hike Commercial Vehicle prices by 2%, due to rising input costs.

▫️ RIL may acquire stressed polyester manufacturer JBF Industries.

▫️Torrent Power to buy 156 MW wind energy plant from CESC for ₹790 crores.

▫️ Business Resumption index remained above pre pandemic level in September (+ve econony).

▫️Loan guarantee scheme launched by the govt. may be extended by 6 months to March 22, to give full advantage to the beneficiaries.

▫️Agri exports jumped 22% in Apr-Aug period.

▫️FPI investment in India in September has been highest so far in FY22.

▫️ Govt to cancel the allotment of Jharkhand coal mine to Adani Power as it didn’t operationalise the same on time.

▫️Kharif food grain output estimated at record 150.5 tonne this year.

▫️Spread of coronavirus in India has slowed as the R value (measure of spread) fell below 1.

▫️Maruti to continue to work and sell fuel efficient cars, as it is the most demanded automobile in the country.

▫️ Godrej Industry fo raise ₹750 crore via issuance of bonds.

▫️L&T bagged 2 significant orders from GAIL India and Air Products Middle East.

▫️ Flipkart to run Big Billion Day Sale from Oct 7-12.

▫️ Spice Jet to raise ₹25 billion by share sales to improve financial condition.

▫️ Global Firm Deloitte, marked that India is now witnessing a consumption revival.

▫️US current account deficit is at 14 years high (may see some pressure on dollar).

▫️India Bull Housing Finance raised ₹808 crores via bonds.

▫️BSE added 1 crore investor accounts in just 107 days.

▫️ Kotak Mahindra Bank announced its entry into healthcare lending.

▫️ HDFC Bank plans to double the exposure to retail loans in couple of years. It plans to raise ₹5,000 crore in infra bonds.

▫️Paras Defence IPO subscribed 16.57 times on first day.

▫️Tata Power to raise $750 million for renewable energy.

▫️TATA-Airbus to sign a mega ₹22,000 deal for military aircraft manufacturing (game changer: privatisation in defence)

▫️ Govt has asked ministries to speed up capital expenditure and adopt technology, and ensure that support is reached to everyone.

This is for educational purposes only.

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