Stock Market Today: All You Need To Know Before Going Into Trade On Sept. 9

Asia-pacific benchmarks declined on Monday due to concerns about recession in the US following weaker than expected jobs data. Japan's Nikkei 225 declined more than 3% after its GDP grew 2.9% on the year in the second quarter against 3.2% growth expectation.

The Nikkei 225 and Kospi were trading 2.19% and 1.44% down, respectively. The S&P ASX 200 was trading 0.79% down as of 06:46 a.m.

This week, troubling data shook Wall Street traders of riskier assets from their complacency, resulting in the worst stock performance since the 2023 regional bank crisis.

The indexes closed near days low after having a muted open. S&P 500 ended 1.73% lower at 5,408.42, extending its decline for the fourth day following weaker than expected jobs data. The Dow Jones ended 1.01% lower at 40,345.41 and the Nasdaq Composite ended 1.14% lower at 18,664.14.

Brent crude was closed 1.04% higher at $71.80 a barrel and gold was trading 0.02% lower at $2,496.79 an ounce as of 06:49 a.m.

The GIFT Nifty was trading 0.18% or 44.50 points higher at 24,818.50 as of 06:49 a.m.

India's benchmark indices extended losses on Friday, recording its worst week in over three months as fears griped over the health of the US economy ahead of the release of jobs data. The selloff was broad-based, with the banking and energy sectors taking the biggest hit.

The NSE Nifty 50 closed 292.95 points or 1.17% lower, at 24,852.15 to extend the fall to the third consecutive session. The S&P BSE Sensex closed 1,017.23 points or 1.24%, down at 81,183.93, its fourth day of decline. Both indices lost nearly Rs 4 lakh crore in value.

Overseas investors stayed net sellers of Indian equities on Friday for the second consecutive day. Foreign portfolio investors offloaded stocks worth Rs 688.7 crore, while domestic institutional investors stayed net buyers for the fifth consecutive session and purchased equities worth Rs 2,121.5 crore, according to provisional data from the National Stock Exchange.

The Indian rupee closed stronger against the US dollar on Friday after nearly touching the psychologically key level of Rs 84 in the previous session.

• RBM Infracon: The company receives a service order worth Rs 3,498 crore from ONGC.

• Mazagon Dock: The company received notification of the award of a contract worth Rs 1,486 crore from ONGC.

• Bajaj Finserv: Bajaj Allianz General Insurance reported a gross direct premium underwritten at Rs 1,736.23 crore for June. At the same time, the total new business premium for Bajaj Allianz Life Insurance stood at Rs 952.52 crore.

• SpiceJet: The airline has entered into a term sheet agreement with Carlyle Aviation Management Ltd. to restructure its aircraft lease obligations. The airline plans to restructure its finances by issuing securities worth $30 million at Rs 100 per share, subject to the approval from the shareholders and the signing of a final agreement between both parties. Carlyle Aviation will also purchase convertible debentures for $20 million from SpiceXpress and Logistics Pvt. Ltd., a subsidiary of the company, it said. Carlyle is valuing the stake at Rs 100, which is a huge premium to the current market price.

• Nazara Technologies: The company has acquired a 48.42% stake in Paperboat for Rs 300 crore. The company has paid Rs 225 crore as the first tranche. The remaining balance will be paid in the manner outlined in the agreement.

• Godfrey Phillips: The cigarette maker approved the re-appointment of Bina Modi as Managing Director of the company for a period of five years with effect from Nov. 14. The company also approved the appointment of her daughter Charu Modi as a Director of the Company, liable to retire by rotation and as ED for five years with effect from Sept. 7.

• Gujarat Gas: India Ratings and Research believes that the merger of the company is credit-neutral. The proposed scheme would lead to better synergies in gas procurement and improve their overall scale of operations.

• Poonawala Fincorp: Dhiraj Saxena tenders resignation as Chief Technology Officer of the company.

• Suzlon Energy: The company has completed the acquisition of 51% of the equity share capital of Renom. With the said acquisition, Renom has now become a subsidiary of the company.

• AU Small Finance Bank: The bank announced a strategic partnership to offer AU SFB’s customers a wide range of general insurance solutions. It includes motor insurance, personal accident insurance, crop insurance, property insurance, shopkeeper insurance, cyber incident insurance, and more.

• Hindustan Unilever: The company’s parent entity, Unilever PLC, had on March 19 announced its intention to separate its global ice cream business across jurisdictions. The board has decided to constitute a committee of independent directors to evaluate in detail the prospects of the company’s ice cream business and to make recommendations to the board. The Board also accorded its approval to explore potential structures and alternatives for the same.

• CreditAccess Grameen: Nilesh Dalvi was appointed as chief financial officer effective from Sept. 6.

• Swelect Energy Systems: The company approved an investment by their wholly-owned subsidiary in Singapore. The goal is to set up Solar Roof Top Power Generating Plants under the Energy Sales model by joining as a 50:50 partner in a new joint venture called AV SW Green Energy Pte Ltd in Singapore. The Board also approved an initial investment of SGD 5,000, with further investment up to SGD 2,000,000 in the joint venture.

• ION Exchange India: The company has been awarded contracts from Technimont SpA, Italy, for de-oiling, demineralisation, and condensate poly unit packages for the Hail & Ghasha Development Project of ADNOC, U.A.E., totalling approximately Rs 168 rore. The projects are to be completed within 61 weeks from project award dates.

• Associated Alcohols and Breweries: The company announced the launch of its premium blended malt whisky, "Hillfort.”

• Protean eGov Technologies: A fire broke out at Times Tower, Kamala Mills Compound, Lower Parel, Mumbai. No injuries or casualties were reported among the staff of the company and business operations remain unaffected by the incident.

• Thermax: The company's wholly-owned subsidiary, First Energy Private Limited, has entered into a share purchase agreement for the acquisition of 100% of the equity share capital of Onix-Two Enersol Private Ltd. OTEPL is acquired for the proposed power projects to be undertaken by FEPL.

• Wardwizard Innovations & Mobility: The company has received a Letter of Intent from His Royal Highness Prince Abdulaziz Bin Turki Bin Talal Bin Abdulaziz Al Saud to form a joint venture in the Kingdom of Saudi Arabia. The company plans to set up two plants to assemble electric motorbikes, three-wheelers, four-wheelers, buses, and EV cells in Saudi Arabia.

• Mangalore Chemicals & Fertilizers: The company has shut down the ammonia and urea plants for replacement reformer catalysts.

• LIC: The company received a GST demand of Rs 114 crore, including interest and penalty, for the financial year 2021 in Telangana and Rs 116 crore for the financial year 2020 in Tamil Nadu.

• Repco Home Finance: K Lakshmi tenders resignation as chief financial officer of the company effective from Sept 6.

• Arihant Capital Markets: The company approves the raising of funds up to Rs 150 crore via a rights issue.

• Gala Precision Engineering: Shares of the company will list on stock exchange today. The issue price for the listing has been set at Rs 529 per share.

• Shree Tirupati Balajee Agro: The IPO has been subscribed 18.17 times on the second day. The bids were led by non-institutional investors (28.56 times), institutional investors (4.69 times), and retail investors (21.42 times).

• Bajaj Housing Finance: The IPO will open for its first day of subscription today. The total issue size of the initial public offering stands at Rs 6,560 crore shares. The IPO consists of a fresh issue of equity shares worth Rs 3,560 crore and an offer for sale worth Rs 3,000 crore. The price band set for the IPO is in the range of Rs 66–70 per share. The company raised Rs 1,757 crore from anchor investors on Friday, ahead of its initial public offering.

• Kross: The IPO will open for its first day of subscription today. The total issue size of the initial public offering stands at Rs 500 crore. The IPO consists of a combination of a fresh issue of equity shares worth Rs 250 crore and an offer for sale of equity shares worth another Rs 250 crore. The price band set for the IPO is in the range of Rs 228–240 per share. The company raised Rs 149 crore from anchor investors on Friday, ahead of its initial public offering.

• Tolins Tyres: The IPO will open for its first day of subscription today. The total issue size of the initial public offering stands at Rs 230 crore. The IPO consists of a fresh issue of shares worth Rs 200 crore as well as an offer for sale of shares worth Rs 30 crore. The price band set for the IPO is in the range of Rs 215–226 per share. The company raised Rs 68 crore from anchor investors on Friday, ahead of its initial public offering.

• Shanti Educational Initiatives: Legends Global Opportunities (Singapore) Pte. Ltd. bought 17 lakh shares (1.05%) at Rs 122.1 apiece, while New Leaina Investments Limited sold 17 lakh shares (1.05%) at Rs 122.1 apiece.

• Metro Brands: Kotak Mahindra Mutual Fund bought 39.74 lakh shares (1.46%) at Rs 1260 apiece. Kotak Infinity Fund bought 13.49 lakh shares (0.49%) at Rs 1260 apiece and Invesco Mutual Fund bought 4.67 lakh shares (0.17%) at Rs 1260 apiece. Citigroup Global Markets Mauritius Private Limited bought 0.8 lakh shares (0.02%) at Rs 1260 apiece and Baroda Bnp Paribas Mutual Fund bought 0.8 lakh shares (0.02%) at Rs 1260 apiece. On the other hand, Farah Malik Bhanji, Alisha Rafique Malik, Zia Malik Lalji, Zarah Rafique Malik and Sabina Malik Hadi sold 11.9 lakh shares (0.43%) each at Rs 1260 apiece.

• Indigo Paints: Peak Xv Partners Investments V sold 54.48 lakh shares (11.44%) at Rs 1,489.35 apiece and 50.51 lakh shares (10.61%) at Rs 1,475.96 apiece. Arisaig Asia Fund Limited bought 8.06 lakh shares (1.69%) at Rs 1,475.51 apiece and HDFC Mutual Fund bought 10.04 lakh shares (2.11%) at Rs 1,470 apiece. Mercer Qif Fund Plc-Mercer Investment Fund bought 3.18 lakh shares (0.66%) at Rs 1,475.51 apiece, while Morgan Stanley Asia (Singapore) Pte. - Odi bought 3.08 lakh shares (0.64%) at Rs 1,491.88 apiece.

• Shriram Pistons & Rings: Theleme India Master Fund Ltd bought 4.84 lakh shares (1.10%) at Rs 2,176 apiece and DSP Mutual Fund bought 4.40 lakh shares (1%) at Rs 2,197.6 per share. Luv D. Shriram sold 6.60 lakh shares (1.50%) at Rs 2,181.77 apiece and Meenakshi Dass sold 6.60 lakh shares (1.50%) at Rs 2,197.60 apiece.

• VST Industries: Maithan Alloys Limited bought 1.12 lakh shares (0.72%) at Rs 485.57 apiece, SBI Mutual Fund sold 4.46 lakh shares (2.89%) at Rs 485.35 apiece and Derive Trading & Resorts Pvt Ltd sold 1.29 lakh shares (0.83%) at Rs 480.57 apiece.

• Max Financial Services: Promoter Max Ventures Investment Holdings Private Limited sold 1.1 crore shares on Sept. 5.

• Ambuja Cement: Promoter Anubhuti Value Fund 1 (Mr. Ameet Desai, Independent Director Is Also Partner Of Anubhuti Advisors Llp, Investment Manager Of The Fund) sold 2.62 lakh shares between Sept. 2 and Sept. 3.

• Vascon Engineers: Promoter Navin Hari Singh Thakur sold 20 thousand shares between Aug. 21 and Sept. 4.

• Usha Martin: Promoter Peterhouse Investments India Ltd. sold 4 lakh shares on Sept. 5.

• Shalimar Paints: Promoter Veera Gupta sold 1.95 lakh shares between Sept. 3 and Sept. 6.

• Infosys: Promoter Anand Swaminathan sold 25 lakh shares on Sept. 3.

• Apollo Micro Systems: Promoter Karunakar Reddy Baddam created a pledge for 13 lakh shares on Sept. 4

• Price band change from 10% to 20%: Balu Forge Industries.

• Price band change from 20% to 10%: Nectar Lifesciences, Rama Steel Tubes, Refex Industries.

• Price band change from 10% to 5%: Kitex Garments, Pondy Oxides & Chemicals.

• Ex dividend: Harsha Engineers International, Jindal Worldwide, Lumax Industries, Nitin Spinners, Waaree Renewable Technologies.

• Ex/record dividend: Capri Global Capital, Gujarat State Fertilizers & Chemicals, Gujarat Gas, Lumax Auto Technologies, Strides Pharma Science.

• Moved in short-term ASM Framework: Nectar Lifesciences, Rama Steel Tubes, SEPC, Swelect Energy Systems.

• Endurance Technologies: To meet analysts and investors on Sept. 10.

• Coforge: To meet analysts and investors on Sept. 24.

• Mahanagar Gas: To meet analysts and investors on Sept. 18.

• JSW Infrastructure: To meet analysts and investors from Sept. 11 to Sept 24.

• Nifty September futures fell by 1.3% to 24,906 at a premium of 47.85 points.

• Nifty September futures open interest fell by 4.11%.

• Nifty Bank September futures rose by 0.2% to 50,781.40 at a premium of 204.55 points.

• Nifty Bank September futures open interest grew by 6.24%.

• Nifty Options Sept. 12 Expiry: Maximum call open interest at 26,000 and maximum put open interest at 22,350.

• Bank Nifty Options Sept. 11 Expiry: Maximum call open interest at 53,000 and maximum put open interest at 46,000.

• Securities in ban period: Aditya Birla Fashion And Retail, Balrampur Chini Mills, Bandhan Bank, Biocon, Chambal Fertilisers, Hindustan Copper, RBL Bank

The Indian rupee closed stronger against the US dollar on Friday after nearly touching the psychologically key level of Rs 84 in the previous session. The domestic currency strengthened amid a marginal decline in the dollar index.

The rupee appreciated 3 paise to close at Rs 83.95 after opening at Rs 83.96 against the US dollar, according to Bloomberg data. The domestic currency had closed at Rs 83.98 on Thursday.