Asian equities look set to open lower following tech-led declines on Wall Street Friday as investors look ahead to a week that includes Federal Reserve and Bank of Japan meetings.
Futures contracts for Australia and Hong Kong both traded down, after a gauge of U.S.-listed Chinese stocks slipped 0.7% in New York. Japanese markets are shut Monday for a national holiday with the central bank due to meet Friday.
On Friday, stocks fell in the U.S., with a $4 trillion options maturity amplifying volatility, pushing up the equity-volatility VIX gauge from its lowest level since 2020. Big tech losses were led by Nvidia Corp. and Meta Platforms Inc. which both fell more than 3.5%. The S&P 500 erased its weekly gain, while the Nasdaq 100 slid 1.8%. The Fed’s policy decision is scheduled for Wednesday.
Meanwhile, Brent Crude prices were trading below $94 a barrel, whereas, WTI Crude was above $90-mark. The yield on the 10-year U.S. bond was trading at 4.33% and Bitcoin was below 27,000-level.
At 5:23 a.m., the GIFT Nifty, an early indicator of the Nifty 50 Index’s performance in India was unchanged at 20,368.
India's benchmark stock indices scaled fresh highs on Friday to end at a record close. Nifty advanced for the third session, whereas Sensex rose for the 11th day, the longest streak of gains since October 2007.
Intraday, the S&P BSE Sensex rose as much as 0.60% to hit an all-time high of 67,927.23 points, whereas the Nifty advanced 0.46% to a record of 20,222.45 points. On a weekly basis, the indices advanced for the third week.
Auto and I.T. stocks rose, whereas real estate and fast-moving consumer goods shares were under pressure.
Overseas investors remained net buyers of Indian equities on Friday for the second consecutive session. Foreign portfolio investors mopped up stocks worth Rs 164.42 crore, according to provisional data from the National Stock Exchange. Domestic institutional investors turned net buyers and bought equities worth Rs 1,938.57 crore.
The local currency weakened 14 paise to close at Rs 83.18 against the U.S. dollar on Friday.
Stocks To Watch: IOCL, BEL, Tata Steel, HAL, Zomato, Tata Elxsi, PVR Inox In Focus
Indian Oil Corp: The board approved an additional investment of Rs 903.52 in JV Hindustan Urvarak and Rasayan to be used for setting up fertiliser plants in Gorakhpur, Sindri, and Barauni.
Bharat Electronics: The company bagged multiple orders worth Rs 3,000 crore. The order worth Rs 2,119 crore is from Cochin Shipyard for the supply of various equipment and other orders worth Rs 886 crore.
Tata Steel: The company and the UK government jointly agree on a proposal for the largest investment in the UK steel industry for decades.
Dhanlaxmi Bank: Independent Director Sridhar Kalyanasundaram resigned from the board citing "belligerent attitude of the MD & CEO" on various issues including rights issue, capital enhancement, whistleblower issues by the directors and unethical conduct of the bank's business.
Responsive Industries: The company confirms the order placed for the RVNL Rishikesh-Karam Prayag railway project.
Tata Elxsi: The company has partnered with INVIDI Technologies to transform addressable advertising for pay-TV operators.
Hindustan Aeronautics: The Defence Acquisition Council has approved the procurement of 12 Su-30MKI aircraft and the avionics upgrade of Dornier aircraft.
Zomato: Zomato Slovakia, a step-down subsidiary of the company, initiated the process of liquidation on Sept. 14, which is expected to be completed within 9–12 months.
Samvardhana Motherson International: Motherson Electroplating US LLC has been incorporated in Delaware, USA, as an indirect, wholly owned subsidiary of the company.
Excel Industries: The company has entered into a share subscription and shareholder agreement with First Energy and First Energy 7. The company will acquire not less than 26% of the equity share capital of First Energy 7, the SPV formed for constructing captive solar power plants. The acquisition is to be completed in five months, and the cost of the acquisition is Rs 5.24 crore.
PVR Inox: The company opened a five-screen multiplex at Himalaya Mall in the city of Ahmedabad.
Gensol Engineering: The company acquired 58,779 equity shares of Scorpius Trackers, constituting 54.38% of the share capital and voting rights in Scorpius, for Rs 135 crore. The company proposes to acquire 100% of the share capital of Scorpius in the second tranche.
Elpro International: The company completed the acquisition of 100% of the equity shares of Fortune Capital Holding for Rs 3.34 crore.
Deccan Gold Mines: The board approved the allotment of 17.70 lakh equity warrants at an issue price of Rs 53.47 per share to non-promoters, which are convertible into an equivalent number of equity shares of Rs 1 each at an issue price of Rs 53.47 per equity share within 18 months from the date of allotment.
WPIL: The company received a contract for the supply of an onboard range of centrifugal pumps and spares for different classes of ships from the Ministry of Defence (Navy) for Rs 14.3 crore. This contract for onboard centrifugal pumps will greatly strengthen WPIL's product offering to the Indian Navy, which is undergoing a major fleet expansion programme.
Brigade Enterprises: Brigade Tetrarch, a wholly owned subsidiary of the company, has entered into a sale deed for acquiring 5 acres and 35.25 guntas of land parcel located in Bangalore for a consideration of Rs 123.50 crore from Bangalore Ceramics. It will develop a residential project on this land parcel with an overall development of 1 million square feet and an overall revenue potential of Rs 800 crore.
Lemon Tree Hotels: The company opened Peninsula Suites, operated by Lemon Tree Hotels, Bengaluru, the sixth property in the city under the Lemon Tree umbrella. The property is managed by Carnation Hotels, a wholly owned subsidiary and the hotel management arm of Lemon Tree Hotels.
Texmaco Rail & Engineering: The board has approved fund raising up to Rs 1,000 crore by way of issuance of equity shares through QIP and Rs 50 crore by way of preferential issue to promoters.
IPO Offerings
Yatra Online: The IPO was subscribed to 11% on the first day of its initial public offering. The bids were led by retail investors, who subscribed 55%, or 0.55 times, and non-institutional investors, who subscribed 3%, or 0.03 times. It saw zero bids from institutional investors.
Zaggle Prepaid Ocean Services: The IPO was subscribed 0.43 times, or 43%, on its second day. The bids were led by retail investors, who subscribed 1.90 times, and non-institutional investors, who subscribed 0.29 times, or 29%. It saw zero bids from institutional investors.
Samhi Hotels: The IPO was subscribed 0.12 times, or 12%, on its second day. The bids were led by retail investors, who subscribed 0.58 times, or 58%, and non-institutional investors, who subscribed 0.07 times, or 7%. It saw zero bids from institutional investors.
Also Read: U.S. Fed Interest Rate Decision, Global Cues Key Factors To Drive Markets This Week: Analysts
Block Deals
Restaurant Brand Asia: QSR Asia Pte Ltd sold 12.54 crore shares (25%) at Rs 119.1 apiece, while ICICI Prudential Life Insurance bought 3.4 crore shares (6.87%), Plutus Wealth Management bought 3.4 crore shares (6.87%), Goldman Sachs Funds-Goldman Sachs Asia Equity Portfolio bought 65 lakh shares (1.3%), and Citigroup Global Markets Mauritius bought 10.5 lakh shares (0.21%) at Rs 119.1 apiece, among others.
Bulk Deals
Aditya Vision: Sunita Sinha sold five lakh shares (4.15%) at Rs 2,203.02 apiece, and Nishant Prabhakar sold 1.48 lakh shares (1.23%) at Rs 2,200.85 apiece, while HDFC Mutual Fund bought five lakh shares (4.15%) at Rs 2,199.74 apiece.
TVS Srichakra: Anvil Wealth Management sold 65,077 shares (0.84%) at Rs 2,940.01 apiece.
360 One Wam: BNP Paribas Arbitrage sold 19.90 lakh shares (0.55%) at Rs 526.78 apiece.
Data Patterns India: Vanguard Emerging Markets Stock Index Fund a Series of Vieif bought 3.12 lakh shares (0.55%) at Rs 2075.54 apiece; Vanguard Total International Stock Index Fund bought 3.25 lakh shares (0.55%) at Rs 2075.54 apiece; and BNP Paribas Arbitrage sold 5.29 lakh shares (0.94%) at Rs 2071.24 apiece.
Five-Star Bus Fin: SCHF PV Mauritius sold 30.18 lakh shares (1.03%), while Smallcap World Fund Inc. bought 30.18 lakh shares (1.03%) at Rs 700.15 apiece.
Himadri Speciality Chem: BNP Paribas Arbitrage sold 41.95 lakh shares (0.95%) at Rs 241.14 apiece, while Vanguard Emerging Markets Stock Index Fund a Series of Vieif bought 25.26 lakh shares (0.57%) at Rs 241.82 apiece, and Vanguard Total International Stock Index Fund bought 26.53 shares (0.6%) at Rs 241.82 apiece.
MTAR Technologies: BNP Paribas Arbitrage sold 3.16 lakh shares (1.03%) at Rs 2601.65 apiece, while Vanguard Total International Stock Index Fund bought 2.30 lakh shares (0.75%) at Rs 2,608.06 apiece, and Vanguard Emerging Markets Stock Index Fund a Series of Vieif bought 1.98 lakh shares (0.64%) at Rs 2608.06 apiece.
Nazara Technologies: BNP Paribas Arbitrage sold 5.57 lakh shares (0.84%) at Rs 835.56 apiece, while Vanguard Emerging Markets Stock Index Fund a Series of Vieif bought 3.45 lakh shares (0.52%) at Rs 838.16 apiece, and Vanguard Total International Stock Index Fund bought 3.98 lakh shares (0.60%) at Rs 838.16 apiece.
Olectra Greentech: BNP Paribas Arbitrage sold 5 lakh shares (0.6%) at Rs 1249.81 apiece, while The Vanguard Group Inc.'s AC Vanguard Total International Stock Index Fund bought 5.28 lakh shares (0.64%) at Rs 1253.81 apiece and the Vanguard Emerging Markets Stock Index Fund bought 5.22 lakh shares (0.63%) at Rs 1253.81 apiece.
Ramkrishna Forgings: The Vanguard Group Inc. AC Vanguard Total International Stock Index Fund bought 10.60 lakh shares (0.66%) at Rs 691.78 apiece, and the Vanguard Emerging Markets Stock Index Fund bought 10.01 lakh shares (0.6%) at Rs 691.78 apiece.
Reliance Power: HRTI Private Limited bought 1.92 crore shares (0.5%) at Rs 19.01 apiece.
Satin Credit Net: Evli Emerging Frontier Fund bought 5.13 lakh shares (0.51%) at Rs 237.45 apiece.
Vishnu Prakash R. Pungli L.: Citadel Securities India Markets bought 11.63 lakh shares (0.9%) at Rs 181.42 apiece.
Apar Industries: BNP Paribas Arbitrage sold 2.88 lakh shares (0.75%) at Rs 5191.26 apiece.
Kirloskar Oil Eng: BNP Paribas Arbitrage sold 9.95 lakh shares (0.5%) at Rs 484.41 apiece.
NMDC Steel: BNP Paribas Arbitrage sold 2.07 crore shares (0.7%) at Rs 54.07 apiece.
Senco Gold: BNP Paribas Arbitrage sold 4.19 lakh shares (0.54%) at Rs 456.76 apiece.
Titagarh Rail Systems: BNP Paribas Arbitrage sold 8.21 lakh shares (0.64%) at Rs 778.07 apiece.
Tamilnad Merca Bank: BNP Paribas Arbitrage sold 10.71 lakh shares (0.67%) at Rs 543.46 apiece.
Usha Martin: BNP Paribas Arbitrage sold 21.35 lakh shares (0.7%) at Rs 345.33 apiece.
Insider Trades
Dhani Services: Promoter Orthia Constructions Ltd. sold 1 crore shares on Sept. 11.
Star Cement: Promoter Group Laxmi Chamaria sold 2.19 lakh shares between Sept. 11 and 13.
Pledge Share Details
Stove Kraft: Promoter and Director Rajendra Gandhi revoked the pledge on 3 lakh shares on Sept. 14.
AGMs Today
Asahi India Glass, Dilip Buildcon, Garware Technical Fibres, GMR Airports Infrastructure, GMR Power and Urban Infra, Indostar Capital Finance, Landmark Cars, Manorama Industries, Nitin Spinners, Nykaa, Pokarna, and Sterling Tools.
Trading Tweaks
Price Band Revised From 10% To 5%: GTL Infrastructure
Ex-date Dividend: Marathon Nextgen Realty, Mastek, Madhya Bharat Agro Products, Mold-Tek Packaging, NLC India, Paradeep Phosphates, Sadhana Nitrochem, Shivalik Bimetal Controls, Sharda Motor Industries, Suprajit Engineering, Texmaco Rail & Engineering, Time Technoplast, Tamil Nadu Newsprint & Papers, Venus Pipes & Tubes, Infibeam Avenues, Indoco Remedies, Indiabulls Housing Finance, Hikal, Gujarat Alkalies and Chemicals, Gujarat Narmada Valley Fertilisers and Chemicals, Glenmark Pharmaceuticals, Edelweiss Financial Services, Deep Industries, Container Corporation of India, Ami Organics, LG Balakrishnan & Bros, Maithan Alloys, Mangalore Chemicals & Fertilisers.
Ex-date AGM: Marathon Nextgen Realty, Mastek, Madhya Bharat Agro Products, Mold-Tek Packaging, NLC India, Nalwa Sons Investments, OnMobile Global, Prakash Industries, Quess Corp, Sadhana Nitrochem, Sharda Motor Industries, Suprajit Engineering, Texmaco Rail & Engineering, Time Technoplast, Tamil Nadu Newsprint & Papers, Techno Electric & Engineering, Jayaswal Neco Industries, Infibeam Avenues, Indoco Remedies, Hikal, Heubach Colorants, GRM Overseas, Gujarat Narmada Valley Fertilizers and Chemicals, Edelweiss Financial Services, Dredging Corporation of India, Deep Industries, Container Corporation of India, Campus Activewear, Black Box, Bannari Amman Spinning Mills, Ami Organics, Kingfa Science & Technology, Kiri Industries, LG Balakrishnan & Bros, Madras Fertilizers, Maithan Alloys.
Ex-date Dividend: Marathon Nextgen Realty, Venus Pipes & Tubes, Indiabulls Housing Finance, Deep Industries
Ex/Record Date Stock Split: JB Chemicals & Pharmaceuticals
Ex/Record Date Buyback: Siyaram Silk Mills
Move Out Of Short-Term ASM Framework: DB Realty, Transformers, and Rectifiers
Moved Into Short-Term ASM Framework: NIIT.
F&O Cues
Nifty September futures ended at 20,240.10, a premium of 68.10 points.
Nifty September futures rose 1.27%, with 2,760 shares in open interest.
Nifty Bank September futures ended at 46,255, a premium of 141.35 points.
Nifty Bank September futures fell 0.52% with 563 shares in open interest.
Securities in the ban period: Balrampur Chini Mills, Bharat Heavy Electricals, Indiabulls Housing Finance, India Energy Exchange, Hindustan Copper, India Cements, Manappuram Finance, REC, Zee Entertainment Enterprises, Chambal Fertilisers & Chemicals
F&O Cues
Nifty September futures ended at 20,240.10, a premium of 68.10 points.
Nifty September futures rose 1.27%, with 2,760 shares in open interest.
Nifty Bank September futures ended at 46,255, a premium of 141.35 points.
Nifty Bank September futures fell 0.52% with 563 shares in open interest.
Securities in the ban period: Balrampur Chini Mills, Bharat Heavy Electricals, Indiabulls Housing Finance, India Energy Exchange, Hindustan Copper, India Cements, Manappuram Finance, REC, Zee Entertainment Enterprises, Chambal Fertilizers & Chemicals.
Money Market Update
The local currency weakened 14 paise to close at Rs 83.18 against the U.S dollar on Friday.
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