The Indian markets on Tuesday taking a positive cue from the global market could start on a positive note- thanks to the dovish stance of US Fed Chair Jerome Powell. This is the one factor that is determining the trajectory of equity markets across the world. At 0725, Nifty Futures on the Singapore Stock Exchange was trading at 16,929, down 5.25 points, 0.03 per cent signaling a red opening for the markets in India. However, global markets remained upbeat weighing the dovish stance of Powell. Factoring in this, Japan’s benchmark Nikkei 225 index was down 0.67 percent or 185.37 points at 27,603.92 in early trade, while the broader Topix index slipped 0.61 percent or 11.96 points to 1,938.18., Australia’s S&P/ASX 200 index rose 0.2 per cent South Korea’s Kospi fell 0.1 per cent, the Hang Seng Index dipped 0.06 per cent, or 15.31 points to 25,524.23. The Shanghai Composite fell 0.26 per cent, or 9.13 points to 3,519.02, while the Shenzhen Composite Index on China’s second exchange eased 0.10 per cent, or 2.53 points to 2,438.58. However, MSCI’s benchmark for global equity markets hit a record. The S&P 500 gained 0.43 per cent, to 4,528.76 and was on track to finish the month up more than 3 per cent, and the Nasdaq Composite added 0.9 per cent to 15,265.72 as investors jumped into technology stocks.
Benchmark indices on Monday gained over 1 percent and closes at fresh record highs amid positive global cues. At close, the Sensex was up 765.04 points or 1.36% at 56,889.76, and the Nifty was up 225.80 points or 1.35% at 16,931. About 2067 shares have advanced, 998 shares declined, and 149 shares are unchanged. Bharti Airtel, Divis Labs, Axis Bank, Tata Steel and Coal India were the top Nifty gainers. Tech Mahindra, Eicher Motors, Nestle, Infosys and TCS were among the top losers. Among sectors, except IT, all other indices ended in the green with metal, pharma, PSU Bank rising 2 percent each. BSE midcap and smallcap indices rose 1.5 percent each.
Here are some stock that would in focus today:
Bank of India: The Bank has extended the term of office of Shri. P R Rajagopal, Executive Director of Bank for a period of two years beyond his currently notified term which expires on 28.02.202.
Ramkrishna Forgings: The company has bagged LoI for its forging business worth Rs 120 million per annum from a major global axle manufacturer located in India.
Pioneer Embroideries: The company is planning capacity expansion to fulfil the increasing demand for SPFY. The company has planned this expansion, as during the pandemic it experienced growth in newer segments like home textiles and technical textiles.
Larsen & Toubro: The company has completed the sale of its entire stake in L&T Uttaranchal Hydropower to ReNew Power Services.
Axis Bank: Moody’s has assigned B1(hyb) rating to the bank, GIFT City Branch’s proposed USD-denominated, undated, non-cumulative and subordinated Additional Tier 1 (AT1) capital securities being issued out of its Global Medium Term Note (GMTN) programme.
Ipca Laboratories: Credit rating agency CRISIL reaffirmed its credit rating for the company’s commercial paper programme at A1+.
Acrysil: The company announced further expansion of production capacity by an additional 1,60,000 Quartz Sinks per annum through greenfield project at Bhavnagar in Gujarat.
Aayush Food and Herbs: The Company announced that the classic Mercantile LLP picked up a 5.77 per cent stake in the company via an open market transaction on August 30.
Shriram EPC: The company announced on Monday that IDBI sold more than 1.96 crore equity shares of the company via open market transaction, reducing shareholding to 0.07 per cent from 2.1 per cent earlier.
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