Stock Market Today: All You Need To Know Before Going Into Trade On Aug. 26

Most markets in Asia-Pacific region were trading higher on Monday, taking cues from the last week gains on Wall Street as the US Federal Reserve Chair Jerome Powell's remarks assured traders of monetary easing from next month.

The KOSPI was 3.12 points or 0.12% higher at 2,704.81, and the S&P ASX 200 was 34.10 points or 0.42% higher at 8,058.00 as of 06:15 a.m.

Stocks went up and bond yields dropped after Powell suggested that the central bank is likely to cut interest rates in September. He also hinted that there might be more rate cuts in the future, according to Bloomberg.

The S&P 500 and Nasdaq Composite ended 1.15% and 1.47% higher, respectively on Friday. The Dow Jones Industrial Average ended 1.14% higher.

Brent crude was trading 0.55% higher at $79.57 a barrel. Gold was higher by 0.09% at $2,514.75 an ounce.

The GIFT Nifty was trading 0.04% or 11.00 points lower at 24,907.00 as of 06:32 a.m.

On Friday, the NSE Nifty 50 and BSE Sensex ended the muted session little changed, and posted a two-week winning streak. Market participants awaited Powell's speech at the Jackson Hole gathering, Wyoming.

The Nifty 50 ended 11.65 points, or 0.05%, higher at 24,823.15, and the Sensex closed 33.02 points, or 0.04%, up at 81,086.21.

Overseas investors stayed net buyers of Indian equities on Friday for the second straight day. Foreign portfolio investors bought stocks worth Rs 1,944.5 crore, according to provisional data from the National Stock Exchange. Domestic institutional investors stayed net buyers for the 15th session and bought equities worth Rs 2,896 crore, the NSE data showed.

The rupee strengthened by 5 paise to close at 83.90 against the US dollar.

• KEC International: The company received a new order worth Rs 1,079 crore in transmission, distribution and cable businesses.

• Religare Enterprises: Enforcement Directorate officials carried out searches at the premises of Rashmi Saluja, executive chairperson; Nitin Agarwal, group chief financial officer; Nishant Singhal, general counsel; and Chirag Jain, chief operating officer of Religare Finvest.

• Lemon Tree Hotels: The company signed a license pact for a 175-room property in Surat.

• IDFC: The company received an income tax refund of Rs 203 crore.

• Cyient: The company incorporated its subsidiary, Cyient Semiconductors.

• Symphony: The company's arm has incorporated a China-based unit, Dongguan GSK Appliances.

• Uno Minda: JV Tokai Rika Minda announced the opening of a new manufacturing plant in Rajasthan. The plant will have an annual production capacity of 3.84 lakh units per month.

• Dr. Reddy’s Laboratories: The US FDA concluded a product-specific pre-approval inspection at a manufacturing facility in Andhra Pradesh and issued a Form 483 with three observations.

• Karur Vysya Bank: SBI Mutual Fund received RBI approval to acquire a 9.99% stake in the bank.

• Orient Technologies: The public issue was subscribed to 151.7 times on day 3. The bids were led by qualified institutional investors (189.9 times), non-institutional investors (300.6 times), and retail investors (66.87 times).

• Interarch Building Products: The company's shares will debut on the stock exchanges on Monday at an issue price of Rs 900 apiece. The Rs 600.3-crore IPO was subscribed 93.53 times on its third and final day. Bids were led by institutional investors (205.41 times), retail investors (19.11 times), and non-institutional investors (128.42 times).

• Ambuja Cements: Holderind Investments sold 6.79 crore shares (2.75%), while GQG Partners Emerging Markets Equity Fund bought 2.68 crore shares (1.08%), SBI Life Insurance Co. bought 79.9 lakh shares (0.32%), National Pension System Trust bought 71.9 lakh shares (0.29%) and among others at Rs 625.5 apiece.

• Nykaa: Harinderpal Singh Banga sold 4.08 crore shares (1.43%) at Rs 208.3 apiece, while Goldman Sachs (Singapore) Pte.- Ltd.-Odi bought 37.5 lakh shares (0.13%), Kotak Mahindra Mutual Fund bought 29.52 lakh shares (0.1%), and Nippon India Mutual Fund bought 74 lakh shares (0.25%), among others.

• Seamec: Legends Global Opportunities (Singapore) bought 2.79 lakh shares (1.09%) at Rs 1,500 apiece, and Nomura Singapore Ltd. sold 2.79 lakh shares (1.09%).

• Ambuja Cements: GQG Partners Emerging Markets Equity Fund bought 1.7 crore lakh shares (0.69%) at Rs 625.5 apiece, while Holderind Investments sold 6.79 crore shares (2.76%).

• Ethos: Saboo Ventures LLP sold 1.48 lakh shares (0.63%) at Rs 3,044.49 apiece.

• Hinduja Global Solutions: Legends Global Opportunities (Singapore) Pte. bought 7.11 lakh shares (1.52%) at Rs 885.11 apiece, New Leaina Investments sold 3.64 lakh shares (0.78%) at Rs 906.84 apiece.

• Ex/record dividend: Manappuram Finance,

• Ex/record AGM: Hatsun Agro Product, Aurobindo Pharma, Jaiprakash Power Ventures.

• Moved into short term ASM Framework: Morepen Laboratories.

• Moved out short term ASM Framework: Inox Wind, Triveni Turbine.

• Nifty August futures up by 0.05% to 24,854 at a premium of 31 points.

• Nifty August futures open interest up by 3.5%.

• Nifty Bank August futures down by 0.14% to 50,966 at a premium of 33 points.

• Nifty Bank August futures open interest down by 8%.

• Nifty Options Aug. 29 Expiry: Maximum call open interest at 26,000 and maximum put open interest at 24,000. 

• Bank Nifty Options Aug. 28 Expiry: Maximum call open Interest at 51,000 and maximum put open interest at 51,000.

• Securities in ban period: Aarti Industries, Aditya Birla Fashion, Balrampur Chini Mills, Birlasoft, Chambal Fertilisers, GNFC, Granules, Hindustan Copper, India Cements, National Aluminium, RBL Bank, Sun TV.

The Indian rupee closed stronger against the US dollar on Friday, tracking the slight easing in the greenback and likely intervention by the Reserve Bank of India beyond Rs 84 in the previous session.

The local currency appreciated 5 paise to close at 83.90. It opened at an intraday high of 83.86 per dollar, according to Bloomberg data. The rupee had closed at Rs 83.95 on Thursday.