Global equities staged a partial comeback on Wednesday, after Britain’s central bank launched an emergency bond buying programme to stabilise the bond market in an attempt to dampen investors’ concerns of a contagion across the financial system. [MKTS/GLOB]
Foreign institutional investors sold a net 27.72 billion Indian rupees ($340.5 million) worth of equities on Wednesday, while domestic investors purchased 25.44 billion rupees of shares, as per provisional data available with the National Stock Exchange.
The Nifty metals index rose 2.5%, while the auto index gained 1.4%
Indian cosmetics-to-fashion retailer Nykaa’s parent FSN E-Commerce Ventures rose 4.3% after the company said it will consider an issue of bonus shares.
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PVR rallies 6%, gains the most in media & entertainment stock
Price as on 29 Sep, 2022 02:14 PM, Click on company names for their live prices.
ICRA revises outlook on Indian airport infrastructure to Stable from Negative
Source: PTI
GLOBAL MARKET CHECK
- The Stoxx Europe 600 fell 1.2% as of 8:15 a.m. London time
- Futures on the S&P 500 fell 1%
- Futures on the Nasdaq 100 fell 1.2%
- Futures on the Dow Jones Industrial Average fell 0.9%
- The MSCI Asia Pacific Index fell 1.7%
- The MSCI Emerging Markets Index fell 1.8%
STOCK IN NEWS: ZEE
#ETNOWExclusive | Zee, Sony to represent their case of merger before Competition Commission today, @Meghnamittal23… https://t.co/u52tRPjhzp
— ET NOW (@ETNOWlive) 1664435237000
Sebi bans The Apex Global, its proprietor from markets for 4 years
Markets regulator Sebi has barred The Apex Global and its proprietor Yadunath Singh Thakur from securities markets for four years and directed them to refund money collected from investors through unauthorised investment advisory services. The regulator found that The Apex Global and Thakur were engaged in the business of providing investment advice to their clients and for consideration and thus, were acting as investment advisers.
Shares of Hindustan Copper surged over 4% in Thursday’s trade after it approved a 23.2 per cent dividend for the financial year ended in March 2022.The board of directors of Hindustan Copper in its meeting held on 28 May, 2022 had recommended payment of dividend for the financial year 2021-22 at Rs1.16 per share of the face value of Rs 5 each for approval of shareholders in the annual general meeting (AGM), the company said in BSE filing.
Price as on 29 Sep, 2022 01:05 PM, Click on company names for their live prices.
Shares of Chemcon Speciality Chemicals zoomed more than 11 per cent during the early trade on Thursday after the company commenced operations at its new facility. Stock later recouped some gains to trade 8% higher.
Price as on 29 Sep, 2022 12:50 PM, Click on company names for their live prices.
Adani Enterprises says units achieved financial closure for Greenfield Ganga Expressway project
Price as on 29 Sep, 2022 12:42 PM, Click on company names for their live prices.
September 2022 auto sales preview: Early start of festive season to aid volume performance
- Emkay Global Financial Services conducted a channel check to gauge the volumes’ estimate for the month of September. The channel checks indicate a positive volume trend aided by early commencement of Navratri festival in September in comparison with October last year. Tractor and 2-Wheelers’ OEMs should post positive growth on continuing inventory build-up with dealers in the run-up to the festive season. Further, PV volumes should be higher, driven by large order book, new products, and ramp-up in production. In addition, CVs are likely to maintain their positive growth momentum.
- Emkay Global Financial Services retains their positive view on the auto sector, with Maruti Suzuki, M&M, Tata Motors, Escorts and Ashok Leyland as their preferred picks.
Shares of Blue Dart Express, a key holding in Radhakishan Damani’s portfolio, jumped about 4% during the early trade on Thursday after the company announced price hikes. In a media release, the company announced that it will be increasing its general price increase (GPI) with effect from January 1, 2023. The average shipment price will increase by 9.6%, depending upon the shipping profile.
Price as on 29 Sep, 2022 12:00 PM, Click on company names for their live prices.
Reliance Industries Ltd’s retail unit launched its first in-house premium fashion and lifestyle store on Thursday, as the billionaire Mukesh Ambani-led company continues to grab a bigger slice of India’s luxury market. The new store chain called Azorte, the first of which was launched in Bengaluru, will compete with the likes of Mango and Industria de Diseno Textil SA-owned Zara, and cater to millenials and Gen Z.
Price as on 29 Sep, 2022 11:56 AM, Click on company names for their live prices.
Sensex off day’s high, trades only 100 points higher
ADANI ENTERPRISE: Co said to increase its share free float in a move that could improve trading liquidity (Source: Media reports)
Price as on 29 Sep, 2022 11:34 AM, Click on company names for their live prices.
Food for thought?
Bank of England does an about turn and buys Gilts which is printing new money. Till now it was tightening to contr… https://t.co/Dgfrnpgdlm
— Uday Kotak (@udaykotak) 1664419558000
Supriya Lifescience got certification of suitability from Europe agency for diphenhydramine hydrochloride.
Price as on 29 Sep, 2022 11:14 AM, Click on company names for their live prices.
Check out the top gainers from the metal & mining pack; Hindalco leads
Price as on 29 Sep, 2022 11:13 AM, Click on company names for their live prices.
BUZZING STOCK: Go Fashion
#StocksInFocus | Go Fashion -Up 15.5% MTD -Biggest monthly gain since listing -Hit an all time high intraday… https://t.co/KoryncIkCj
— ET NOW (@ETNOWlive) 1664426972000
Lupin gets warning letter from USFDA for Tarapur facilit
Adani Green Energy commissions 600 MW wind-solar hybrid power plant in Rajasthan
- Plant has 25-year power purchase agreements with seci at 2.69 rupees/KWH
- Total operational renewable capacity increases to 6.7 GW
Suzlon Energy on Wednesday announced opening of its Rs 1,200 crore rights issue on October 11, 2022. “Suzlon Energy Ltd announces the opening of its Rs 1,200 crore rights issue on October 11, 2022,” a company statement said.
Price as on 29 Sep, 2022 10:30 AM, Click on company names for their live prices.
Kotak Institutional Equities initiated coverage on KIMS with a buy rating and a target price of Rs 1590. Armed with a solid execution track record, a calibrated expansion approach, and a healthy balance sheet, KIMS is well positioned to build on its strong hospital network in AP/Telangana with entries in neighboring states.
Price as on 29 Sep, 2022 10:22 AM, Click on company names for their live prices.
FMCG index gains over 1%; check out the top gainers from the pack
Price as on 29 Sep, 2022 09:57 AM, Click on company names for their live prices.
TotalEnergies SE said it could sell a small part of its 20% stake in Adani Green Energy Ltd. to cash in on the jump in the valuation of the Indian renewable energy producer. Patrick Pouyanne, the chief executive officer of TotalEnergies, said in response to a question during an investor presentation on Wednesday that the appreciation in value is “a source of potential cash.”
Price as on 29 Sep, 2022 09:55 AM, Click on company names for their live prices.
Stay with largecap cos, like Banks and Defence: Sanjay Mookim
#NavigatingVolatility | Sanjay Mookim of JP Morgan says -Stay with largecap cos, like Banks and Defence -Festive… https://t.co/UBUMvuJML0
— ET NOW (@ETNOWlive) 1664424596000
NSE index rejig to bring inflows of up to $189 million
Adani Enterprises, BEL, Adani Total Gas, HAL, PowerGrid, IRCTC, and Mphasis, among others, will see inflows ranging between $26 million and $189 million on September 30, when the NSE rebalances its key indices such as Nifty 50, Nifty Bank, and CPSE Index, according to Edelweiss Alternative & Quantitative Research.
FSN E-Commerce Ventures, which runs beauty and fashion e-commerce platform Nykaa, will consider the issuance of bonus shares on October 3.
Price as on 29 Sep, 2022 09:30 AM, Click on company names for their live prices.
When negative sentiments become dominant, the risk-off gathers momentum and markets get oversold. Then, usually, an unexpected trigger reverses the near-term outlook leading to short covering and a market rally. This was precisely what happened yesterday in global markets when the Bank of England surprised markets with Quantitative Easing. This desperate act by BoE is more a reflection of the economic woes of the UK. But the market’s interpretation of the BoE’s surprise decision is that the Fed might pause its rate hike to avert a sharp economic downturn. The relief rally is likely to soon run out of steam and, therefore, investors need not make aggressive buys now. The MPC is likely to raise rates by 50bps and may move to a neutral stance. But this is already discounted by the market and therefore will not have any market moving impact.
– Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services
Opening Bell: Sensex jumps over 500 points, Nifty near 17,000; Nykaa gains 5%, Axis Bank 3%
Pre-open session: Sensex rises over 150 points; Nifty above 16,920
Asian stocks bounce but sterling slippery after BoE buys bonds
Asian share markets rose on Thursday after Britain’s central bank launched an emergency bond buying programme to stabilise a furious sell-off in gilts, though trade was skittish and sterling remained under pressure.
SGX Nifty signals a positive start
Nifty futures on the Singapore Exchange traded 175 points, or 1.04 per cent, higher at 17,061.50, signaling that Dalal Street was headed for a positive start on Thursday.
Tech View: Nifty bulls fail to guard 200-DMA.
The index formed a small bodied bearish candle on the daily scale with a long upper shadow, indicating pressure at higher zones.
Tokyo stocks open higher after US gains
Tokyo stocks opened higher on Thursday extending gains on Wall Street, where investors were reassured by the Bank of England’s intervention that helped push bond yields lower. The benchmark Nikkei 225 index rose 0.85 percent, or 223.59 points, to 26,397.57, while the broader Topix index added 0.29 percent, or 5.30 points, to 1,860.45.
Wall Street ends sharply higher as Treasury yields dip
Wall Street ended sharply higher on Wednesday following its recent sell-off, helped by falling Treasury yields, while Apple dropped on concerns about demand for iPhones. The S&P 500 recorded its first gain in seven sessions after closing on Tuesday at its lowest since late 2020.
Oil prices fall amid strong dollar, economic concerns
Oil prices fell in early Asian trade on Thursday as a strong dollar and economic woes outweighed optimism over consumer demand. Brent crude futures fell 59 cents, or 0.7%, to $88.73 per barrel by 0016 GMT while U.S. crude futures fell by 54 cents, or 0.7%, to $81.59. Both benchmarks rebounded in the prior two sessions amid volatile trade after reaching nine-month lows this week.
Rupee breaches 82 mark against dollar on forex outflows, surging US yields
The rupee plunged below the 82 mark for the first time in day trade before settling down by 40 paise at 81.93 against the US dollar on Wednesday due to heavy forex outflows amid strengthening US treasury yields.
Sensex, Nifty on Wednesday
Amid a sharp spike in US bond yields and the depreciation of the rupee, the domestic benchmark indices declined for the sixth consecutive day on Wednesday, with the Sensex falling 509 points to end at 56,598.28 while Nifty50 ended at 16,858, down 148.80 points.
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