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Get the latest news and updates for markets in one place from wealthy broking
*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
*GIFT Nifty +85 pts (25875) from last trade 25790 ,*
Nikkei clsd ,
Hangseng -21 pts ,
Now @6.55am .
Dow +38.17 pts ,Nsdq -65.66 pts, S&P
-11.09 pts , Bovespa -2057 pts , Ftse -98 pts , Dax -282 pts , Cac -115 pts , Crude @ $71.02 brl (+0.02), Brent @ $74.50 brl (+0.01) , Gold @ 2644.80 (-1.40), Silver $31.365 (-0.14), Euro @ $1.1163, JPY @ $143.90, INR @ 83.485
*Today's Corporate Action*
*23rd Sept Ex Date*
Aarnav Fashions Ltd
23 Sep 2024
Final Dividend - Rs. - 0.5000
Aartech Solonics Ltd
23 Sep 2024
Final Dividend - Rs. - 0.2500
ADDI INDUSTRIES LTD
Final Dividend - Rs. - 1.2500
Advait Infratech Ltd
Final Dividend - Rs. - 1.5000
Amba Enterprises Ltd
Final Dividend - Rs. - 0.5000
*Today's Key Results/Board Meetings*
*23-Sep-24*
LGBBROSLTD
General
ORISSAMINE
Quarterly Results
*Stock under F&O ban on NSE*
*23-Sep-24*
1 AARTIIND
2 BIOCON
3 CHAMBLFERT
4 GNFC
5 GRANULES
6 LICHSGFIN
7 NATIONALUM
8 OFSS
9 PNB
10 RBLBANK
11 SAIL
Today's Headlines :
*Economic Times*
📝 Jio, Airtel, Vi record customer loss post tariff hike, BSNL becomes only gainer in July
📝 Adani Total Gas secures USD 375 mn funding to expand city gas network
📝 HDFC Bank approves IPO of HDB Financial Services with fresh equity sale of Rs 2,500 crore
📝 India’s forex reserves hit a fresh high of $689.46 billion
📝 India proposes retaliatory duties worth $1.1 bn against EU’s steel curbs
📝 Retail inflation for farm workers eased to 5.96% in Aug; 6.08% for rural labourers
📝 NHAI awards 251-km Hyderabad-Nagpur corridor for Rs 6,661 cr under TOT model
📝 ISRO, IN-SPACe & NSIL sign five tech transfer pact with non-governmental entities
📝 Over Rs 3 lakh cr needed each year to achieve 440 GW RE capacity by 2030: Icra
📝 Copeland to invest Rs 500 crore to expand India manufacturing facility and R&D
📝 Air India domestic market share rises to 27%, International to 24%
📝 Fleet operator Everest Fleet raises $30 million from Uber India
📝 Hospitality startup Elivaas raises $5 million from 3one4 Capital, others
📝 PhysicsWallah closes $210 million funding round led by Hornbill Capital valuing it at $2.8 billion
*Business Standard*
📝 CARE Ratings downgrades IIFL Finance's long-term instruments to "AA-"
📝 Internship Scheme: Govt to list out 500 companies based on CSR spend
📝 Moglix to invest $50 million in Credlix for expansion in USA, Mexico
📝 NBFC Aye Finance raises $30 million in series G round led by ABC Impact
📝 DPIIT refers complaint against quick e-commerce players to CCI: Report
📝 EQT to acquire 100% stake in Indostar Home Finance for Rs 1,750 crore
📝 Mankind Pharma to raise funds up to Rs 10k crore via debt instruments
📝 Adani Ports sign MoU with Rorix Holdings for trade, logistics purposes
📝 Capital A launches Rs 400 cr fund to target manufacturing, climate startups
📝 Reliance Infrastructure gets Rs 1,100 crore infusion from promoters
📝 FM reviews housing and urban affairs ministry capex with focus on PMAY
📝 Finance ministry notifies direct tax Vivad Se Vishwas Scheme, 2024
📝 NRI deposits witness $5.82 billion inflows in April-July 24, shows RBI data
📝 Rupee posts biggest weekly gain in 2024; appreciates 9 paise to 83.56
*Financial Express*
📝 TCS expands operations in Poland, opens new delivery centre in Warsaw
📝 RWE, AM Green Ammonia inks pact to supply 250,000 tonnes green ammonia annually
📝 Religare Enterprises becomes debt-free entity, clears Rs 163.75 crore loan
📝 Zomato receives another GST demand, penalty order of Rs 17.7 crore from West Bengal
📝 I-GST panel finalises plan to address “negative balance” issue
📝 Crude import bill up 15% on year in Apr-Aug
*Mint*
📝 Manba Finance IPO: NBFC mobilises ₹45 crore from anchor investors
📝 SEBI permits mutual funds to buy, sell credit default swaps
📝 Govt pushes for indigenous technologies in animal husbandry, dairy sectors
📝 JSA expands projects, real estate practices with new leadership team
📝 Govt launches portal to send alerts on food import rejections
📝 Vodafone Idea to conduct investor meet on Sept 23 after SC's AGR verdict setback.
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
Читать полностью…
ALERT : SEBI board meeting: Row over Madhabi Buch, tighter F&O rules, MF-Lite among top agenda today.
Читать полностью…
🏦 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
🔔 3 IPOs Listing Tomorrow - 24th Sep
📦Western Carriers (India) Limited
🏢Arkade Developers Limited
🏦Northern Arc Capital Limited
*News Headlines from Business News Agencies:*
*Business Standard*
📝 FM reviews housing and urban affairs ministry capex with focus on PMAY
📝 New housing supply in Delhi-NCR triples in Q2 to 13,311 units: PropEquity
📝 Indian steel firms under pressure from rising imports, drop in exports
📝 Greenfield boom: Hotel investments in India return to pre-pandemic high
📝 Intel shares climb on report that Qualcomm made takeover approach
📝 Finance Ministry urges DRTs, banks to expedite loan recovery processes
📝 NBFC Aye Finance raises $30 million in series G round led by ABC Impact
📝 Moglix to invest $50 million in Credlix for expansion in USA, Mexico
📝 NCLAT rejects tax claim against RCom after initiation of insolvency
📝 India, Germany conclude development policy negotiations successfully
📝 Cement makers may end H1FY25 with higher raw material costs, weak pricing
📝 GM recalls 449K SUVs, pickups over faulty low brake fluid warning light
📝 India, Korea discuss upgrading of trade pact, promoting investments
📝 Leela hotels owner Schloss files IPO papers to raise for $599 million
*Economic Times*
📝 Garuda Aerospace to set up dedicated defence drone facility near Chennai
📝 AAHL reports lounge access issues at multiple airports after DreamFolks suspension
📝 Plan to open offices abroad to assist foreign investors looking to invest in India: Piyush Goyal
📝 NCLT rejects Philips India’s plea to buy out minority shareholders’ stake, again
📝 SEC approves BlackRock's spot bitcoin ETF options listing
📝 NCLT directs IRP to respond to 26,000 homebuyers of Supertech
📝 India can become $10 tn economy by 2032; beat US, China in manufacturing: Report
📝 Bombay HC grants temporary relief to CEATin case against Apollo Tyres’s ads
📝 UPI transaction value surges to Rs 1669 lakh crore in first five months of FY 2024-25
📝 Uco Bank IMPS issue: Slim chance of full recovery this fiscal, says bank MD
📝 RBI extend tenure of IDFC First Bank MD V Vaidyanathan for another 3 years
📝 Top bankers urge govt to initiate disinvestment process in banks
📝 Government seeks explanation from edible oil companies on rising prices
📝 Nirala World to invest Rs 400 cr to build luxury housing project in Greater Noida
*Mint*
📝 Oil logs second weekly gain after US Fed rate cut; Brent, WTI gain 4% in 5 days
📝 IGREL Renewables eyes fresh ₹300 crore equity fundraise next fiscal
📝 Linde India moves SC against SAT order in related-party transactions case
📝 BSNL gains 2.9 million customers in July after private telcos raised tariffs
📝 Blinkit, Zepto to face CCI scrutiny after complaints from local retailers
📝 US CFTC issues first guidelines for carbon credit markets
📝 OYO to acquire Motel 6, Studio 6 from Blackstone paying $525 million cash
📝 SEBI permits mutual funds to buy, sell credit default swaps.
📝 Govt pushes for indigenous technologies in animal husbandry, dairy sectors
📝 Crude oil sizzles after US Fed rate cut: Brent nears $74 on demand optimism
📝 Seci plans to launch IPO within next two years: CMD RP Gupta
📝 HDB Financial IPO: HDFC Bank clears subsidiary's ₹2,500-crore IPO plan
📝 Food price volatility remains ‘contingent risk’ for CPI inflation: RBI
📝 JSA expands projects, real estate practices with new leadership team