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Q2 Earnings Date
10th Oct: GM Breweries
10th Oct: AnandRathi
10th Oct: IREDA
10th Oct: Tata Elxsi
10th Oct: TCS
14th Oct: Angel One
14th Oct: Gopal Snacks
14th Oct: HCL Tech
15th Oct: HDFC AMC
15th Oct: HCFC Life
16th Oct: Bajaj Auto
16th Oct: CRISIL
16th Oct: LTTS
16th Oct: Mphasis
17th Oct: Nestle
17th Oct: Infosys
17th Oct: Wipro
18th Oct: ICICI General
19th Oct: HDFC Bank
19th Oct: Tech Mahindra
21st Oct: Ultratech
22nd Oct: Coforge
22nd Oct: ICICI Pru
22nd Oct: Persistent
22nd Oct: Zensar
23rd Oct: KPIT Tech
23rd Oct: Navin Fluorine
23rd Oct: Pidilite
24th Oct: Cyient
24th Oct: Max India
24th Oct: NAM India
24th Oct: UBL
25th Oct: Atul
25th Oct: Novartis
25th Oct: Poonawala Fincorp
26th Oct: ICICI Bank
26th Oct: JK Cement
26th Oct: IDFC First Bank
28th Oct: CAMS
28th Oct: Gillette
29th Oct: Cipla
29th Oct: Dabur
29th Oct: Honeywell
INTRADAY CALL : BUY AXISBANK AT 1208,SL-1196,TRGT-1233
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5 Imp Stocks in the news : 3rd October
1⃣Hero moto 👍
strong sales in September , better than expected
September 2024: total sales growth of 18.8% YoY at 6.37 lakh vs 5.36 lakh units YoY
Growth is led by motorcycle segment , at 20.8% YoY
Scooter segment is weak , down 6.4% YoY at 39521 vs 42229 units
2⃣Dabur - Weak Q2 quarterly update 👎
Company is expected to post mid single digit decline in consolidated revenues for the quarter
Operating margin is expected to decline in a range of mid to high teens due to deleverage and continued investment behind brands
3⃣Marico👍
domestic business posted mid-single digit volume growth
Saffola Oils posted low single digit revenue growth
Company expects to deliver double-digit revenue growth in this year
4⃣KPIT tech 👍
JP morgan upgrades KPIT tech to overweight from Neutral
target price 2000rs
5⃣Maruti 👎
September sales lacklustre, In line with expectations
total sales up 1.9% to 1.84 lakh units, in-line with poll of 1.83 lakh units.
Domestic sales down 1.5% YoY
Things to know before trade: 3rd October 📰
👉US markets close flat overnight
👉all eyes on US jobs report due later this week
👉middle east tensions weigh on global markets
👉Brent crude prices above 74$/bbl
👉Israel vows 'painful' response to Iran missile attack
👉Nikkei rises 2.5% as Yen weakens
👉Markets in mainland China will remain closed until Oct. 8 for a week-long holiday
👉Nifty closed below 25800 on Tuesday
👉Large foreign selling seen
👉FIIs sold 5579cr in cash on Tuesday , DIIs bought 4609cr in cash
👉Jefferies' Chris Wood has reduced his weightage on India by 1% and increased his weightage on China by 2%
👉Indian markets to react to new SEBI rules on F&O trading
SEBI issues circular on F&O
F&O related rules will be applicable from 20th November
Upfront premium from option buyers from February 1
Monitoring of Intra-day Position Limits
Derivatives minimum trading amount raised to `15 Lk
Minimum trading amount increased from `5 Lk to `15 Lk
News Headlines from Business News Agencies:
Business Standard
📝 Mankind Pharma board approves fundraising plan of up to Rs 10,000 cr
📝 India, US may sign pact on critical minerals to bolster trade ties
📝 Bharti Airtel prepays Rs 8,465 crore to DoT for spectrum acquired in 2016
📝 Govt extends income tax audit report deadline to Oct 7
📝 India's current account deficit widens to 1.1% of GDP in April-June 2024
📝 Aurobindo Pharma subsidiary gets 10 observations from USFDA for API plant
📝 India's fiscal deficit for Apr-Aug at Rs 4.35 trn, 27% of full-year target
📝 Wedding rush: 4.8 million couples to spark Rs 5.9 trillion economic surge
📝 AT&T sells 70% stake in DirecTV to private equity firm TPG for $7.6 bn
📝 Adani Airport Holdings raises Rs 1,950 crore through biggest bond issue
📝 Vodafone and Hutchison offer price pledge to answer UK's merger concerns
Economic Times
📝 Oil companies making Rs 15/ltr profit on petrol even as consumers await big price cuts
📝 India moves to current account deficit of $9.7 bn in Q1FY25 from surplus in previous quarter
📝 RBI deputy governor calls for strengthening governance at small finance banks
📝 Delhi government sets up 24x7 'Green War Room' to tackle winter pollution
📝 Tata Power to invest Rs 1.2 lk crore in power distribution, transmission and renewables in Rajasthan
📝 India's core sector declines by 1.8% in August
📝 Kalpataru Projects International bags orders worth Rs 1,241 crore
📝 Swiggy, Hyundai, Vishal Mega Mart among 5 IPOs approved by Sebi; Innovision prospectus returned
📝 Dr Reddy's completes acquisition of Haleon's NRT portfolio
📝 Dwarka Expressway to become India's first free flow tolling system with no toll plazas in next few months
Mint
📝 Indian Oil Corporation withdraws ₹22,000 crore rights issue
📝 India’s core sector output growth contracts by 1.8% in August
📝 Cred eyes new products as revenue surges, losses shrink in FY24
📝 Monsoon ends with 8% surplus, rains 14% below normal in east and northeast
📝 Epic Games to sue Google, Samsung over alleged app-store scheme
📝 Metro Brands is treading slowly on the growth track
📝 Govt to unveil Business Reforms Action Plan 2024 to boost ease of doing business
📝 China markets surge in wild end to the quarter
📝 Peak XV, Google, Hillhouse eye part exits as CarDekho plans IPO
📝 Wakefit enters Rs 1,000 crore revenue club, returns to Ebitda profitability
📝 Tata Power to invest ₹1.2 trillion in Rajasthan for renewable energy projects
SEBI TODAY DID NOT DISCUSS F&O TRADING NORMS IN TODAYS BOARD MEET
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ALERT : SEBI board meeting: Row over Madhabi Buch, tighter F&O rules, MF-Lite among top agenda today.
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🏦 Manba Finance Limited IPO
Listing Date : Mon, Sep 30, 2024
BSE Script : 544262
NSE Code : MANBA
IPO Price : ₹120
GMP : ₹40 (as per various reports)
SEBI Board meeting on Sept 30th
KEY AGENDA on F&O : Sources & News Reports
- SEBI Board likely to discuss on India Derivative Market Framework
- F&O Expiry Regulations, Losses to Retail investors in Option segment likely to be discussed
- Recent SEBI discussion paper indicated one index-based weekly contract per stock exchange
- SEBI may propose minimum contract value would be increased to Rs 15-20 lakh at launch and then later to Rs 20-30 lakh (to deter retail investors), strike prices would be rationalised
Things to know before trade🗞️
👉Strong US market close
👉Dow jones up 260 points overnight
👉Nasdaq up 0.6%
👉S&P 500 at fresh record high for 3rd time this week
👉economic data on Thursday assured investors of strength of the U.S. economy.
👉Initial jobless claims had fallen more than expected, indicating a strong labor market
👉final reading of second-quarter US GDP data came in at 3%.
👉Nifty firm above 26200 , saw 6th straight day of gains yesterday
👉nifty has gained 1300 points since September 11
👉Large buying from domestic institutions continues
👉DIIs buy in cash for 4th straight day
👉DIIs buy 2405cr in cash market yesterday, FIIs buy 629cr
China Stimulus !
Hang Seng +4%
Nikkei +2.4%
Europe (Euro Stoxx 50) +1.6%
China - A rare Politburo meeting !
1. Meeting (chaired by Xi) promised more stimulus
2. This is the first September Politburo in 5 years
3. Saying all the right things, also pledging appropriate level of fiscal spend (the missing piece)
5. Readout was explicit in pledging action to make the real estate market 'stop declining'
Timing is not a coincidence - China goes into Golden Week holidays next week !
Securities in Ban For Trade Date 26-SEP-2024:
1 ABFRL
2 GRANULES
3 HINDCOPPER
4 IDEA
5 IEX
Securities in Ban For Trade Date 25-SEP-2024:
1 ABFRL
2 GRANULES
3 HINDCOPPER
4 IDEA
5 IEX
China - Flurry of Stimulus Announcements !
- 50 bps RRR cut 'soon'
- Further RRR cuts will depend on market conditions
- 20 bps 7d policy rate cut to 1.5%
- Gov Pan expects LPR, deposit rates to also go down
- Down payment on 2nd homes to be cut to 15% vs 25%
- 0.5% cut to existing mortgage rates
- To allow funds & brokers to tap PBoC to buy stocks
Reaction (so far)
China property gauge +4.8%
Iron ore futures in Singapore +4%
Source : Cnbctv18
INTRADAY CALL : BUY BANKNIFTY PUT OPT 52400 9OCT SER AT 380,SL-313,TRGT-525
Читать полностью…
CUES FOR TODAY
Gift Nifty -300 Pts
Key Hurdles Today:
• Escalating tensions b/w Iran & Israel
• Nifty Weekly Expiry
• SEBI’s circular to tighten F&O norms
• Q2 Dampener from Dabur
Chris Wood: Cuts India weight by 1% citing global geopolitical tensions
Can the bull market climb this wall of worry?
Cash Flows
- FII sold 5579 Cr; DII bought 4610 Cr on Tuesday
- FIIs have sold $2 Bn in last 2 sessions
Index Futures
- FIIs net Sold 1495 Cr on Tuesday, unwound 14000 Longs, Added 6300 Shorts
- FII Long Exposure down from 82% to 79% in 3 sessions
- HNIs, Clients Long Exposure up from 34% to 38% in 3 sessions
Nifty
Options Based Expiry Range: 25550-25850
20 DMA: Key Level to Track
Nifty 25505
Nifty Bank 52538
Stocks in Focus
- Dabur: Q2 Revenue down in mid-single digits, margins to decline
- Marico Q2: Revenue higher in mid-single digits, Bangladesh grew in double digits
- VMART Q2: Overall Revenue +20%, SSSG +15%
- Hero Moto & Eicher: Sep Sales > Estimates
- Oil related stocks in focus due to higher crude price, Iran-Israel tension
- BirlaSoft: Enters F&O Ban
- Balrampur Chini: Exits F&O Ban
*News Headlines from Business News Agencies :*
*Business Standard :*
📝 Institutional investments in real estate rise 45% in Jul-Sep: Colliers
📝 Govt discussing proposal to formulate scheme for 'Made in India' label
📝 NBFC loan sanctions rise 12% in Q1FY25, home and auto loans drive growth
📝 THDCIL to invest Rs 8,800 cr in pumped storage projects in Raj: CMD Vishnoi
📝 Cap goods, engineering firms see new order wins worth Rs 2 trn in H1FY25
📝 WJ Towell & Co raises claim in arbitration from Blue Star to Rs 461.74 cr
📝 Banks to seek govt guarantee on equity conversion before lending to Vi
📝 Samsung India workers observe one-day token fast near Chennai factory
📝 Zydus Lifesciences receives USFDA approval to produce prostrate cancer drug
📝 Pharmaceutical firms up their game to crackdown on spurious drugs
*Economic Times :*
📝 Tata Motors to accelerate maintenance shutdown amid rising stockpiles, declining sales
📝 SBI to add 600 branches in its network during FY25: Chairman Setty
📝 DGGI sends 300 notices to cos' top brass over input tax credit
📝 Company registrations decline 21% in Sept, LLPs rise 8%
📝 Shining bright: Gold loans are the fastest growing category for NBFCs, industry data shows
📝 JSW MG Motor retail sales fall 8% to 4,588 units in September
📝 GNPAs to improve to decadal low in FY25; MFI loans, unsecured need to be watched: Crisil
📝 Petrol sales rises 2.8% in September, diesel drops 2%
📝 Delhi govt to audit DISCOMs on pension surcharge issue
*Mint :*
📝 Reliance Group to build solar and hydro-power projects in Bhutan
📝 Tribunal orders lenders of insolvent Siti Networks to return ₹148 cr to company
📝 Tesla misses estimates, demand hit amid competition in China & Europe market
📝 CRISIL removes IIFL Finance from ‘Rating Watch’, reaffirms long-term rating
📝 Grover Zampa sharpens focus on premium wines after ₹90 cr capital boost
📝 Titan’s Helios to launch exclusive luxury watch stores as demand surges
📝 Mankind Pharma secures CCI approval for ₹13,360-crore worth acquisition of BSV
📝 Dabur India expects mid-single digit revenue dip due to floods, inventory issues
📝 Google offers to settle anti-trust case in smart TV probe
📝 Jet Airways' winning bidder claims lenders want to sell airline assets as scrap
*News Headlines from Business News Agencies:*
*Business Standard*
📝 IIFL Home Finance to raise up to Rs 3,000 cr via public issue of bonds
📝 Ashiana Housing bets on senior housing facilities to drive profit
📝 Varindera Constructions files draft papers to secure Rs 1,200-cr via IPO
📝 Digi Yatra to be made available in regional, int'l languages: Official
📝 Ashok Leyland, travel tech firm FlixBus sign deal for inter-city mobility
📝 Ahead of festive season, 19 kg commercial LPG price hiked by Rs 48
📝 Govt proposes to amend Geographical Indications law, seeks comments
📝 Ireda sees 303% surge in loan sanctions, reaching Rs 17,860 cr in Apr-Sept
📝 FCI to install modern video surveillance system at 561 storage depots
📝 UPI crosses 500 million daily transactions; value falls flat in September
📝 Boeing considers raising at least $10 billion by selling stock: Report
*Economic Times*
📝 Tata Motors total domestic sales down 15 pc at 69,694 units in Sep
📝 NCLAT upholds tribunal’s order of Sarda Energy’s acquisition of SKS Power Generation
📝 Oil prices drop over 2% to $70/bbl as prospects of additional supply offset Mideast fears
📝 Rupee ends little changed, exporter dollar sales help counter dip in Asia FX
📝 Avaada Group commits Rs 1 lakh cr investment in Rajasthan
📝 NTPC arms commission 50 MW solar project in MP, 98.78 MW in Rajasthan
📝 Ola Electric's dominance fades as Indian e-scooter battle intensifies
📝 Kia India sales up 17 pc in September at 23,523 units
📝 Highway Infrastructure, Jaro Education file DRHPs with Sebi to raise funds through IPO
📝 Corporate credit profile robust in H1; 202 issuers got rating upgrades: Ind-Ra
📝 German competition watchdog vows closer eye on Microsoft
*Mint*
📝 RVNL secures order worth ₹283.69 crore from East Coast Railway
📝 Ford in talks with Tamil Nadu govt. for potential EV manufacturing in India
📝 Sony Pictures CEO Tony Vinciquerra to step down; Ravi Ahuja named successor
📝 China’s housing glut collides with its shrinking population
📝 NCLAT issues notice to ICICI Securities in delisting case
📝 India’s manufacturing activity eases to an eight-month low in September
📝 Samsung may introduce fees for Galaxy AI features by late 2025: Report
📝 GST-related anti-profiteering regime ends in March, marks shift to free pricing
📝 M&M auto sales rise 16% YoY to 87,839 units in September; tractor sales up 2%
📝 SoftBank to invest $500 million in OpenAI amid $6.5 bn funding round: Report
📝 Kharif sowing reaches 110.85 million hectares, exceeding five-year average
SEBI RELEASES NEW RULES FOR EQUITY DERIVATIVE SEGMENT || SEBI INCREASES THE MINIMUM TRADING AMOUNT FOR DERIVATIVES FROM 500,000 RUPEES TO 1.5 MILLION RUPEES
SEBI REDUCES EXPIRIES OF DERIVATIVES CONTRACT TO ONE PER EXCHANGE PER WEEK SEBI - NEW MEASURES FOR DERIVATIVES TRADING TO BE EFFECTIVE SEBI ASKS EXCHANGES TO MONITOR INTRADAY POSITION LIMITS FOR EQUITY INDEX DERIVATIVES
SEBI - UPFRONT COLLECTION OF OPTIONS PREMIUM AND INCREASED MARGINS TO BE EFFECTIVE FEB 2025 || SEBI MANDATES ADDITIONAL MARGIN REQUIREMENT OF 2% FOR SHORT OPTIONS CONTRACTS ON DAY OF OPTIONS EXPIRY
US Markets recover after a slipping in reaction to Powell speech 💪
S&P 500 posts record close 🍾
+2% in Sep 2024, notching its first positive September since 2019
🤩 Gained 20% in first 3 quarters of 2024
🇺🇸 Markets on Monday
#Dowjones +0.04%
#Nasdaq +0.38%
S&P500 +0.42%
Commentary from Federal Reserve Chair made traders a little skittish intraday as Jerome Powell said
🎤 Recent 50 bps cut shouldn’t be interpreted as a sign that future moves will be as aggressive
🎤 Added that Fed is not on any preset course
🎤Expressed confidence in economic strength & believes inflation will continue to cool
Other Asset Classes
🇺🇸 10-year yield at 3.77%
⛽️ Brent Crude at 72$/barrel
🪙 Gold at $2,627/ounce
💲 Dollar Index at 100.84
💸 Bitcoin at 63300$
Economic Data due on Tuesday
🇺🇸 Bureau of Labor Statistics’ Job Openings & Labor Turnover Survey for August
👉 S&P Global U.S. Manufacturing Purchasing Managers’ Index
👉 ISM Manufacturing PMI readings
BREAKING NEWS : SEBI BOARD MEETING
SEBI PRESS RELEASE ON TODAY'S BOARD MEETING DOESNT HAVE CHANGES IN F&O SEGMENT
NO RULES CHANGE FOR DERIVATIVES EXPIRY YET
Things to know before trade 📰
👉US markets closed mixed on Friday
👉Dow up 137 points to finish at new all time high
👉Nikkei down 4% this morning
👉China will release its official PMI numbers for September
👉All eyes on US jobs data on October 4
👉Nifty ended above 26100 on Friday
👉Domestic investors bought in large amounts on Friday but foreign investors were net sellers.
👉DIIs bought 6887cr in cash , FIIs sold 1209cr in cash on Friday
👉gold prices hit 2680$/ounce, rate cut sets gold on track for best quarter in 8 years
*News Headlines from Business News Agencies :*
*Business Standard :*
📝 Tata Sons plans to buy 13% stake in Tata AutoComp for Rs 2,122 crore
📝 IBA expects to attract Rs 1,600 cr investment for biogas sector at REI 2024
📝 Goyal holds discussions with 140 firms getting production-linked incentives
📝 AI Express-AIX Connect merger in Oct first week; 'I5' to fly into sunset
📝 With more foreign investment, India can build movie industry quicker: IMAX
📝 Lulu Group to set up food processing, logistics centres in Andhra Pradesh
📝 Microfinance growth driven more by lenders' loan disbursement than demand
📝 Housing prices in Delhi-NCR, Bengaluru jump 29% in July-Sept: Anarock
📝 Insurance companies enhance tech spending to meet evolving customer needs
📝 Govt mulls new regulatory mechanism for FDI supervision and oversight
📝 HC upholds arbitral award in favour of R-Infra in judgement on DVC petition
📝 Regulatory, policy reforms crucial for future of India's pharma R&D: Report
📝 Engine maker GE Aerospace plans increasing sourcing components from India
📝 NLC India eyes critical mineral mining capacity of 1 MTPA by FY30
📝 Deloitte eyes $5 billion revenue from Indian biz by 2030: South Asia CEO
*Economic Times :*
📝 Reliance Infra wins Rs 780 cr arbitration case against Damodar Valley Corp
📝 Linking spurious drugs with legitimate manufacturers has severe reputational, financial impact: IPA
📝 Sebi mulls standardise format for disclosure of change in risk-o-meters of MF schemes
📝 Govt to soon release 'master list' of tourist sites for holistic development: Gajendra Singh Shekhawat
📝 ASUS bets on aggressive retail expansion to become India's top PC brand
📝 India to boost crude oil refining capacity by 35-40 MT by Fiscal 2030: Crisil Ratings
📝 EV industry in India is not relevant without incentives: Bernstein
📝 L&T Semicon expects its chip production to start in 2 yrs; to set up unit later
📝 Tamil Nadu CM Stalin lays foundation stone for Tata Motors' Rs 9,000 cr manufacturing plant in state
📝 SBI plans innovative products to attract depositors amid growing financial awareness
📝 Candytoy partners with Reliance Retail to supply confectionery toys to 1,400 outlets
📝 IDFC to merge with IDFC FIRST Bank, effective October 1
📝 NEDFi reports rise in profit for FY24 by 14.19% to Rs 132.37 crore from Rs 115.92 crore
*Mint :*
📝 India's forex reserves surge, reaching record high of $692.3 billion: RBI
📝 Indian steel producers warn of China import surge amid US tariff hike
📝 Flipkart's online sellers sue CCI over antitrust probe
📝 GQG Partners to pay $500,000 as penalty to SEC for violating whistleblower rules
📝 Sebi cuts down timeline for debt securities from T+6 to T+3
📝 Supreme Court to rule on AERA’s powers, may lead to costlier airport services
📝 Reliance-Disney merger ahead: RIL wins govt approval for transfer of channels
📝 The $1.7 billion takeover brawl fueled by a fear of China
📝 Accenture’s Gen AI bets pay off with $3 bn in bookings
📝 First novel Schizophrenia treatment in decades gains FDA approval
📝 Dell mandates in-office work for global sales team after layoffs: Report
📝 Reliance Power to consider stake sale for fundraising, board meeting on Oct 3
*News Headlines from Business News Agencies:*
*Business Standard*
📝 Coal imports rise marginally by 0.9% to 90.51 MT in Apr-Jul of FY25
📝 Fashion retailers may see up to 15% revenue growth in FY25: Report
📝 SBI aims to become first financial firm to cross Rs 1 trn profit: Chairman
📝 Pharmaceutical firm Piramal Pharma eyes to double revenue to $ 2 bn by FY30
📝 Results from Biocon Biologics supports interchangeability of psoriasis cure
📝 Karnataka plans tax waivers for hybrid vehicles, incentives for EVs
📝 State-owned Bank of India raises Rs 2,500 crore at 7.49% via tier-II bonds
📝 Centre asks Tamil Nadu govt to resolve Samsung workers' strike: Report
📝 Trai to discuss OTT apps regulation; expedite Satcom framework: Chairman
📝 Expecting FDI to increase to $100 bn per annum in coming years: DPIIT Secy
📝 Reliance Power's subsidiary Rosa prepays Rs 850 cr debt to Varde Partners
📝 Mt K Kapital raises over Rs 500 cr to invest in realty projects in Mumbai
*Economic Times*
📝 Infosys signs deals with Polestar to open tech hub in Bengaluru
📝 Chief economists bullish on India, cautious optimism for global recovery: WEF survey
📝 BFSI sector leads in women leadership, reports Avtar & Seramount Study
📝 SaaS startup Whatfix raises $125 million from Warburg, SoftBank, valuation hits $900 million
📝 Vedanta board to meet on October 8 to consider fourth interim dividend
📝 AI global market may touch $990 bn by 2027 with 40-55% annual growth rate: Report
📝 Carlyle Aviation affiliates trim stake in SpiceJet to 2.34% from 3.75%
📝 India's retail has a spring in its step: High-end shopping malls
📝 India's foodgrain production hits record 332.22 mn tonne in 2023-24: Govt
📝 Diamantaires to witness 25-27 pc decline in revenue in FY25: Report
📝 Euler Motors forays into LCV segment; drives in two electric models
*Mint*
📝 ADB retains FY25 growth forecast for India’s economy at 7%
📝 Foodgrain production to hit record 332.23 MT: agriculture ministry
📝 Positive outlook for India: Goldman Sachs predicts sustained economic growth
📝 HomeLane to buy Design Café, raises ₹255 cr from Hero Enterprise, WestBridge
📝 Aristocrat maker plans to raise ₹300 cr for new single malt, brandy and more
📝 Airtel launches AI-powered spam-detection tool, to be available from Thursday
📝 Rate cuts, govt policies put housing finance sector in a sweet spot, say experts
📝 Google paid $2.7 billion to bring back an AI genius who quit in frustration
📝 Rate cuts, govt policies put housing finance sector in a sweet spot, say experts
📝 Zepto ranks first in LinkedIn's 2024 list of India's top startups
📝 Whatfix secures funding from Warburg Pincus, SoftBank at $900 mn valuation
*GLOBAL MARKET INSIGHTS*
- The market looks ready to again fly due to liquidity
- The US markets hitting new highs every day after Fed rate cut but now thanks to China
- China's new support measures appeared more aggressive than expected
- Entire metal pack including gold & silver touching record highs
- Dow +84, S&P500 +14, Nasdaq +100
- After China unveiled a slew of policy support measures, the Shanghai Composite shot up 4.1%, the most one-day gain in the previous four years
- Golden Dragon index of US-listed Chinese companies rallied 9.1% in New York trading
*What China did*
- A 50 bp reserve requirement rate cut, Additional 20 bp cut in the 7-day RRR, a 50 bp rate cut on existing mortgages and a reduction in down payment ratio of second-home purchases from 25% to 15% nationwide
- Another 25-50 bp reserve requirement rate cut in the pipeline this year
- Lowering this ratio allows banks to lend more
- PBOC backed 500bn yuan borrowing facility for non-bank financials and a relending program to support share buybacks
- And things will not stop here as more money is ready flow
- Markets expect 50% chance of ECB rate cut next month after weak data with Eurozone PMIs
- US markets also expecting another 50-bps cut in November 7 meeting and 25 bps cut in December 18 meeting
Gold hits new highs globally, MCX gold at Rs 74,614, silver near Rs 90,200/kg
Читать полностью…
*News Headlines from Business News Agencies:*
*Business Standard*
📝 Josler Energy, IGL, Heath Consultants join hands for safe, green gas infra
📝 Tata Power-DDL receives patent for transformer life-enhancing device
📝 NTPC Green Energy's Rs 10,000 cr IPO likely in November first week
📝 India faces growing threat as key antibiotics lose effectiveness, says ICMR
📝 Samsung's Sriperumbudur strike may impact India's manufacturing: GTRI
📝 India's retail derivatives traders lost Rs 1.8 trn in three years: Sebi
📝 Fintech firm BharatPe to offer food ordering with latest ONDC integration
📝 SpiceJet raises Rs 3,000 cr through QIP, to receive additional Rs 736 cr
📝 Indian refiners cancel palm oil contracts on duty hike, price rise
📝 myTVS launches Mobility-as-a-Service for last-mile EV fleet operators
📝 Govt steps up buffer stock sale to control onion prices after duty removal
📝 Domestic med-devices lobby opposes zero-duty imports under EU-FTA
*Economic Times*
📝 Bank of America to open more than 165 new branches by end of 2026
📝 NTPC Green Energy's Rs 10,000 cr IPO likely in November first week
📝 Export of gems and jewellery drops over 18% in August amid global consumption slowdown
📝 Proxy advisory firm InGovern raises concern over delay in Religare AGM
📝 Axis Finance names Sai Giridhar as MD & CEO
📝 India's biggest oil, gas bid round gets 4 bidders; Reliance-bp-ONGC bid together
📝 Hyundai commences exports of Exter to South Africa
📝 Solar parts manufacturers seek government protection from cheap imports
📝 India's finished steel imports from China hit 7-year high in April-August, data shows
📝 Indian refiners cancel 1,00,000 metric tons of palm oil purchases on duty hike, price rise
📝 Nisus Finance to raise $200m from global investors
📝 India’s August Russian oil imports slip 18% from July, tanker data show
*Mint*
📝 SC refuses to interfere in Linde India's related-party transactions case
📝 Chip giants TSMC and Samsung discuss building Middle Eastern mega factories
📝 US mulls ban on Chinese tech in connected cars; Beijing slams move
📝 Southwest monsoon begins withdrawing from west Rajasthan, Kutch
📝 Anil Agarwal calls for a boost in domestic mineral production in India
📝 Morgan Stanley reverses stance on Chinese stocks, favours overseas listings
📝 Indian businesses grow at slowest pace in nine months, says HSBC Flash PMI
📝 SpiceJet faces new insolvency case filed by software solution startup Techjockey
📝 AM Green enters biofuels market with acquisition of Chempolis, Fortum 3 BV
📝 Apollo aims to invest $5 billion investment in Intel: Report
📝 Carlyle looks to build $400 million vehicle for auto parts deal in India