News Roundup and Market Update 27/09/2021

Market Update

▫️ 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.


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.

This is for educational purposes only.


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