The Indian markets, taking positive global cues could open in a positive territory. This week also, some macroeconomic data is going to decide the course of the market. Indian GDP that came out in double digit at 20.1 per cent, set the euphoria in the markets, similarly, the balance of trade data coming today can be one of the triggers for Dalal Street. However, for US stocks markets also, the employment data that is scheduled to come this week will determine the trajectory of markets in the US as well as in the world. At 0724 hours IST, the Nifty Futures on the Singapore Stock Exchange is trading at 17,112, down 4.50 points, or 0.03 per cent. The SGX nifty signals a negative start for key Indian benchmark Indices. The Wall Street equities ended mixed on Wednesday. The benchmark Dow Jones Industrial Average slipped 0.1 per cent to close at 35,312.53, while the broad-based S&P500 index ended essentially flat at 4,524.09. But the tech-rich Nasdaq Composite Index gained 0.3 per cent to kick off September by finishing at an all-time high of 15,309.38.
Apart from US markets, Asian markets also opened in green signaling a positive opening for the Indian markets. The Hang Seng Index rose 0.67 percent, or 175.23 points, to 26,203.52. The Shanghai Composite dipped 0.20 percent, or 7.20 points, to 3,559.90, while the Shenzhen Composite Index on China’s second exchange fell 0.22 percent, or 5.32 points, to 2,412.57. On the other hand, Japan stocks also opened with gains. The benchmark Nikkei 225 index was up 0.48 percent or 135.43 points at 28,586.45 in early trade, while the broader Topix index advanced 0.21 percent or 4.23 points to 1,985.02.
On Wednesday, the Sensex and Nifty reached an all-time high but failed to hold on to the gains as investors took some money off the table amid concerns over frothy valuations. The BSE Sensex ended 214.18 points or 0.37 per cent lower at 57,338.21. NSE Nifty snapped its seven-day record-setting spree, settling 55.95 points or 0.33 per cent lower at 17,076.25. At close, Power India was the top gainer on BSE, its share rose by 13.26 per cent. Following Power India was Oberoi Realty with 11.58 per cent gain. However, Auto Axles, Rane Holdings were among the laggards on the BSE. Sectorally, BSE MidCap rose by 0.88 per cent, BSE SmallCap rose by 0.20 per cent.
Here are some stock that would in focus today:
Axis Bank: The Reserve Bank of India has imposed a penalty of Rs 25 lakh on the bank for violating certain provisions of Know Your Customer (KYC) norms.
Wipro: The company has appointed Mohammed Areff as the Country Head & Managing Director for the Middle East.
NMDC: The company’s iron ore output grows 44 per cent to 15 MT between April-August
Vedanta: The company’s board approves interim dividend of Rs 6,877 crore yesterday.
Kotak Mahindra Bank: The bank has completed the sale of an 8.6 per cent stake in Airtel Payments Bank for Rs 294.8 crore.
India Energy Exchange: The company announced yesterday that it logged all time high trade volume of 9538MU in August.
State Bank of India: The bank has raised Rs 4,000 crore of the Basel – compliant Additional Tier 1 (AT1) bonds at a coupon rate of 7.72 per cent.
Peninsula Land: The company has announced that Dinesh Jain has resigned as Chief Financial Officer of the company.
Mahindra CIE Automotive: The company announced that ACACIA II Partners LP & Others sold 67,85,291 equity shares in the company via an open market transaction on August 30, reducing shareholding to 4.07 percent from 5.86 percent earlier.
Kernex Microsystems (India): Virender Singh & Others acquired over 8.88 lakh equity shares in the company via open market transactions, increasing shareholding to 9.95 percent from 7.11 percent earlier.
Minda Corporation Ltd: The company announced on Wednesday that it has entered into definitive agreements for acquiring 26 per cent equity stake in electric vehicle (EV) charging solutions startup EVQPOINT Solutions, through its wholly-owned arm Spark Minda Green Mobility Solutions
Eicher Motors: Royal Enfield sales volume declined 9 percent to 50,144 motorcycles in August 2021, against 45,860 motorcycles in August 2020.
Aashka Hospitals: The company and Vaidehi — Backbone Hospital, Rajkot have agreed to a non-binding Memorandum of Understanding for a tie-up between the two hospitals whereby the management and operations of Vaidehi-Backbone will be integrated with Aashka Hospitals in a phased manner.