Asian indices were mixed in early trade with South Korea's Kospi trading more than 1.3% lower at 6:37 a.m., while Japan's Nikkei and Australia's ASX 200 were flat.
Trading in Hong Kong will be shut on Friday as the country is battered by Super Typhoon Yagi.
US stocks faltered as Wall Street's anxiety intensified just hours before the eagerly awaited US jobs report. S&P 500 ended 0.30% lower at 5,503.41, extending its decline into a third consecutive day despite some gains among major tech stocks. The Dow Jones ended 0.54% lower at 40,755.75. However, Nasdaq Composite ended 0.25% higher at 17,127.66.
Meanwhile, Treasury yields remained relatively stable, with traders anticipating more than 100 basis points in Federal Reserve rate cuts for 2024, suggesting a substantial reduction may be on the horizon before the year ends.
GIFT Nifty was at 25,136.50, down by 63 points, or 0.25% as of 06:38 a.m.
Brent crude was trading 0.12% higher at $72.78 a barrel as of 6:30 a.m. and gold was flat at $2,516.03 an ounce.
India's benchmark indices ended lower on Thursday, dragged down by heavyweights Reliance Industries Ltd. and Bharti Airtel Ltd. The NSE Nifty 50 extended fall for the second day to end 53.60 points or 0.21% lower at 25,145.10, while the S&P BSE Sensex declined for the third straight session to settle 151.48 points or 0.18% down at 82,201.16.
Overseas investors remained net buyers of Indian equities for the fifth consecutive session on Wednesday. Foreign portfolio investors mopped up stocks worth Rs 975.5 crore, while domestic institutional investors stayed net buyers for the third consecutive day and purchased equities worth Rs 97.4 crore, according to provisional data from the National Stock Exchange.
The Indian currency closed at a record closing low of 83.98 against the US dollar.
Stocks To Watch
KEC International: The company received new orders worth Rs 1,423 crore for the supply and installation of 380 kV transmission lines in Saudi Arabia.
Rashtriya Chemicals & Fertilizers: The company approved the issue of secured/unsecured, non-convertible debentures aggregating up to Rs 1,400 crore in the period of the next twelve months through a private placement basis.
Aditya Birla Fashion And Retail: The company will raise funds up to Rs 500 crore through non-convertible debentures. The company also approved the allotment of 5.57 crore shares to shareholders of TCNS Holdings. The company will allot 11 ABFRL shares for every six held in TCNS Holding.
Ashoka Buildcon: The company announced that its wholly-owned subsidiary, Viva Highways Ltd, has successfully monetised its land in Hinjewadi, Pune, for a total value of Rs 453 crore.
L&T Finance: The company has issued 17,500 listed, secured, rated, redeemable non-convertible debentures worth Rs 175 crore to selected investors through a private placement on Sept 5, 2024.
Wipro: The company has been enlisted by JFK International Air Terminal, the operator of JFK’s Terminal 4, to help meet its net zero targets.
JSW Energy: The company has received a Rs 55 lakh tax penalty for the financial year 2019-20.
Adani Enterprises: The company approved the early closure of the NCD issue. The issue will now close on Sept. 6 instead of Sept. 17.
Finolex Cables: Nikhil Naik stepped down as Chairman of the Board, and the board appointed Ratnakar Barve as Chairman in his place.
Jindal Stainless: The company has supplied high-strength tempered 301LN grade austenitic stainless steel for this prestigious government project. The coaches are manufactured by Integral Coach Factory and Bharat Earth Movers Ltd.
Sky Gold: The company approved the issuance of 4.17 lakh fully paid equity shares worth Rs 50 crore. These shares were issued as part of a share swap deal in exchange for acquiring 100% ownership of Sparkling Chains Private Ltd. and Starmangalsutra Private Ltd. rather than for cash.
Pidilite Industries: CollTech Group, a company specialising in high-performance adhesives and thermal solutions, has signed an exclusive distribution agreement with Pidilite Industries. Under this partnership, Pidilite will be the sole distributor of CollTech’s products in India, helping both companies strengthen their market presence, especially in the electronics industry.
MedPlus Health Services: Optival Health Solutions Private Ltd., the subsidiary company, has received two suspension orders for drug licenses for stores situated in Bangalore, Karnataka.
Akzo Nobel India: The company has commenced the commercial production of the powder coating products from its plant at Gwalior with an installed production capacity of 5166 T per annum.
Allcargo Logistics: Ecu Worldwide Korea Co. Ltd., a joint venture company of Allcargo Logistics Ltd, has incorporated a company in the name of Allcargo ULS Terminals Co. Ltd., “Allcargo ULS Terminals.”
Nucleus Software Exports: The company's buyback worth Rs 72 crore is to open on Sept. 9 and close on Sept. 13.
Venus Pipes: The Revenue Intelligence Directorate conducted a search at the company's corporate office over alleged evasion of customs duty on goods imported. The company has deposited Rs 5 crore as duty.
Matrimony.com: The board approved Rs 72 crore buyback at Rs 1,025 per share.
Dreamfolks: Introduces its latest service, catering to travellers on highways across India.
Camlin Fine Sciences: Board to consider fund raise by rights issue of equity shares on Sept. 10
Listing
Baazar Style Retail: Shares of Rekha Jhunjhunwala-backed firm to list on stock exchange today. The IPO was subscribed 40.66 times on its third day, led by institutional investors. The IPO was subscribed 4.64 times on the second day and 0.72 times or 72%, on the first day. The issue price for the firm has been set at Rs 389 according to date on the NSE.
IPO Offering
Shree Tirupati Balajee Agro: The IPO has been subscribed 6.36 times on the first day. The bids were led by retail investors (7.93 times), non-institutional investors (5.25 times), and institutional investors (4.46 times).
Block Deals
Shanti Educational Initiatives: New Leaina Investments Limited sold 18 lakh shares (1.11%) at Rs 119.32 apiece and LGOF Global Opportunities Ltd. sold 22.77 lakh shares (1.41%) at Rs 119 per share. On the other hand, Legends Global Opportunities (Singapore) Pte. Ltd. bought 22.77 lakh shares (1.41%) at Rs 118.85 apiece.
Bulk Deals
Rama Steel Tubes: Hrti Private Limited bought 87.2 lakh shares (1.72%) at Rs 13.07 apiece.
Oswal GreenTech: Oswal Agro Mills Ltd. bought 1.24 crore shares (4.85%) at Rs 51 apiece. Bhavani Techno Projects Limited sold 48.54 lakh shares (1.89%), Appu Impex Ltd. sold 36.86 lakh shares (1.43%), Alliance Techno Projects Limited sold 26 lakh shares (1.01%) and Luckystar Entertainments Limited sold 13.2 lakh shares (0.51%) at Rs 51 apiece.
Max Financial Services: Max Ventures Investment Holdings Private Limited sold 1.1 crore shares (3.18%) at Rs 1,107.37 apiece.
RattanIndia Enterprises: Lgof Global Opportunities Ltd sold 1.2 crore shares (0.85%) at Rs 81.94 apiece and Connecor Investment Enterprise Ltd sold 82.61 lakh shares (0.59%) at Rs 83.45 apiece.
Thangamayil Jewellery: Chandramogan R G bought 3.53 lakh shares (1.28%) at Rs 2,140 apiece.
Insider Trades
Sonata Software: Promoter Sujit Mohanty sold 25 thousand shares between July 23 and Sept 4.
CIE Automotive India: Promoter Anil Haridass sold 46 thousand crore shares and promoter Anjali Powar Haridass sold 88 thousand shares on Sept. 3. Promoter Anil Haridass sold 8 thousand shares and promoter Anjali Powar Haridass sold 9 thousand shares on Sept. 4.
NIIT: Promoter Sanjay Mal sold 25 thousand shares on Sept. 3.
Pidilite Industries: Promoter Harish Himatlal Parekh sold 0.15 crore shares on Sept 4.
Safari Industries: Promoter Safari Commercial LLP sold 1 lakh shares on Sept 4.
Dr. Lal Pathlabs: Promoter Hony Brig. Dr. Arvind Lal sold 2 lakh shares on Sept. 3.
Usha Martin: Promoter Peterhouse Investments India Ltd. sold 70 lakh shares between Sept. 3 and Sept. 4.
Trading Tweaks
Price Band change from 20% to 10%: IIFL Securities, SEPC.
Ex dividend: Eclerx Services, Shipping Corporation of India, Shipping Corporation of India Land and Assets, Senco Gold, Sterling Tools, Tatva Chintan Pharma Chem, Triveni Turbine, Vardhman Textiles.
Ex/record dividend: Gujarat Narmada Valley Fertilizers and Chemicals, Gujarat State Petronet, KRBL, Medi Assist Healthcare Services, Metro Brands, NBCC, The New India Assurance Company, Protean eGov Technologies, Quess Corp, Responsive Industries, Triveni Engineering and Industries, Zen Technologies.
Ex/ record Bonus: VST Industries.
Moved in short term ASM Framework: Geojit Financials Services
Who's Meeting Whom
Bharti Airtel: To meet analyst and investors on Sept. 10 and Sept. 11.
ICICI Prudential Life Insurance: To meet analyst and investors on Sept. 12.
Endurance Technologies: To meet analyst and investors on Sept. 10.
Vedant Fashions: To meet analyst and investors on Sept. 10.
Wipro: To meet analyst and investors on Sept. 12.
F&O Cues
Nifty September futures fell by 0.05% to 25,236.75 at a premium of 91.65 points.
Nifty September futures open interest fell by 2.33%.
Nifty Bank September futures rose by 0.2% to 51,727.6 at a premium of 254.55 points.
Nifty Bank September futures open interest fell by 1.6%.
Nifty Options Sept. 12 Expiry: Maximum call open interest at 26,400 and maximum put open interest at 23,900.
Bank Nifty Options Sept. 11 Expiry: Maximum call open interest at 59,000 and maximum put open interest at 51,500.
Securities in ban period: Aditya Birla Fashion And Retail, Balrampur Chini Mills, Bandhan Bank, Biocon, Chambel Fertilizers, Hindustan Copper, RBL Bank.
Money Market
The Indian rupee nearly touched 84, closing at a record low against the US dollar on Thursday, as crude oil prices steadied along with a flat dollar index. The currency hit an all-time low of 83.99 during the day.
The rupee closed at a record low of 83.98 after opening at 83.98 against the US dollar, according to Bloomberg data. The domestic currency had closed at 83.97 against the greenback on Wednesday.
Research Reports
Medplus Health Services - Growth Drivers Intact; Generics Scale-Up Key: HDFC Securities
India Economy And Strategy - Anomalous IT Collection May Fade, Exposing The Underlying Fiscal Knot: Systematix
Financials Sector Check - Assessing Fee Income Pools For Banks: Motilal OswalAutomobiles Sector Check - Two- Wheeler, Buses Shine; Passenger Vehicle A Mixed Bag: Axis Securities
Disclaimer: NDTV is a subsidiary of AMG Media Networks Limited, an Adani Group Company.
RECOMMENDED FOR YOU
Real Estate Prices In Delhi-NCR Rise 56% To Rs 1.45 Crore In H1 FY25, Says Anarock Research
Nov 20, 2024
Festive 'Spirit': At 3.87 Crore Bottles, Pre-Diwali Liquor Sales Set New High In Delhi
Nov 02, 2024
Bajaj Auto Q2 Review: Analysts Remain Optimistic But Valuations Trigger Caution
Oct 17, 2024
Transformers And Rectifiers Promoter Jitendra Mamtora Offloads Stake Worth Rs 211 Crore
Oct 14, 2024
POPULAR