▫️ Indian markets continued to climb, riding on the back of sharp economic recovery. Investors continued to show interest in India markets, even though it is now very expensive.
▫️Sensex and Nifty ended at 60,048 (+0.27%) and 17,853 (0.17%).
▫️ Sectorwise, real estate outperformed the market while metal, psu bank and commodities underperformed.
▫️ Market breadth was unfavorable with advance decline ratio of 633:1186.
▫️Ruppee closed weak by 4 paise at 73.68, as almost all asian currencies lagged against the dollar.
▫️Oil prices continue their rally and is trading at 3 year high above $78, due to sharp decline in US inventories, sustained economic recovery and very slow pace of rise in oil production by OPEC+. (-ve for India Inc)
▫️Gold prices fell below the 46,000 mark citing fears of rise in interest rates, after the Fed’s meeting.
▫️US markets ended flat on Friday with a positive bias, as market dumped the contagion effect of Evergrande fall.
▫️This morning US futures are trading very strong, accompanied by positive opening for the Asian markets. SGX Nifty is also trading higher, reflecting good start for the Indian bourses.
▫️Stocks in F&O ban: SAIL, ZEEL, CANBK, ESCORTS, IDEA, IBULHSGFIN, IRCTC and PNB.
News Round Up
▫️Tata & Airbus have finalised ₹20,000 crore deal for 56 military aircraft.
▫️ Competition Commission of India have fined ₹873 crores on UBL and other alcohol producers for creating a cartel.
▫️ONGC has put 2nd well in KG Block on production.
▫️RBI has allowed banks to sell their fraud loan exposures to asset reconstruction companies (+ve for Banks).
▫️Auto PLI scheme to benefit large companies the most (Maruti & Tata Motors in focus).
▫️ Govt.’s net direct tax collection have increased by 74% in FY22 till now (+ve economic development).
▫️ESIC scheme added highest number of members in July (reflecting increased hiring activity, Naukri in focus)
▫️Cadila Healthcare entered into an agreement with Shilpa Medicare for production of its Covid-19 vaccine.
▫️ August recorded highest advertisement volumes since 2nd lockdown (+ve Media companies).
▫️NBCC bagged ₹968 crore overseas project to build 2,000 homes in Maldives.
▫️ Nucleus Software announced ₹159 crores buyback at ₹700 per share.
▫️ Daikin world’s largest air conditioner producer to set up its 3rd manufacturing plant in India in Andhra Pradesh (+ve effect of PLI scheme).
▫️India Bulls Housing Finance sold portion of its stake in Oak North for ₹251 crores.
▫️Tata Motors have touched the milestone of selling 10,000 EVs.
▫️China banned all crypto currency transactions in the country, leading to sharp fall in crypto currency prices
▫️UBS sold shares of Axis Bank worth ₹255 crores.
▫️India’s forex reserve decline by $1.47 bn to $639.6BN mainly to exchange rate changes.
▫️Hero Moto to set up 10,000 EV charging stations across the country in next 1 year (Ola effect).
▫️Shyam Steel to expand its presence in Southern, Western and Central India.
▫️Diesel prices were hiked by 20 paise, while Petrol prices unchanged.
▫️From July 1,2022, smart watches, smart cameras, tracking devices, etc. can only be sold, used or imported after accreditation.
▫️Cinema Halls to open in Maharashtra from Oct 22.
▫️Air Traffic grew by 35% in August, sequentially positive for Airlines).
▫️ Global IT giant Accenture reported strong quarter 4 results, Indian IT firms will remain in focus today.
▫️30 IPOs may hit the Indian market in Oct-Nov, seeking a total of ₹40,000 – ₹45,000 crores.
▫️HDFC plans to reach rural India, and hire 2,500 employees in next 24 months.
▫️Jio and Airtel have most numbers of active subscribers, while VIL lags way behind.
▫️NTPC wins 1.9GW solar power project.
▫️India’s top 10 listed 10 real estate companies have reduced their debt by 37% post pandemic.
▫️ Tupperware to set up 1,000 retail stores in India.
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