Markets recouped its opening losses on Monday after gains from IT & Metals stocks while Bank Nifty ended lower by 0.6% and Nifty ended above 17350. After yesterday up move, both Brent crude and Natural Gas prices have activated short term breakout, thus opening scope for 10-15% upside in near term. We can expect financials to underperform due to such breakout while Nifty may turn see wild downside on close below 17214.
U.S indices ended mixed as investors focused on potential corporate tax hikes and upcoming economic data. The Dow Jones Industrial Average rose 261.91 points, or 0.76%, to 34,869.63, the S&P 500 gained 10.15 points, or 0.23%, at 4,468.73 and the Nasdaq Composite dropped 9.91 points, or 0.07%, to 15,105.58. Oil climbs to one-week high on U.S. supply concerns. Asian indices have opened mixed. Trends on SGX Nifty indicate a positive opening for the index in India with a 45-points gain.
Key news/Stocks in news
- Jet Airways: Jet Airways to Resume Domestic Operations in 1Q 2022
- Max Financial Services: Florida SBA Backs Max Financial on 3 of 4 Proposals Sept. 23
- Redington India: Says Redington’s Unit Arena to Acquire Brightstar for $35 million
- Wipro: Wipro ties up with Tennessee-based First Horizon Bank
- Sun Pharma- Promoter entity Shanghvi Finance released a pledge on company’s 33,93,333 equity shares.
- Dilip Buildcon- Subsidiary Bangalore Malur Highways has received the letter of the appointed date from the NHAI and had declared the appointed w.e.f. September 15.
- Allcargo Logistics Drops Plans to Delist
- Sansera Engineering IPO at INR734-744/Share open for sale, offer close Sept. 16
- Vijaya Diagnostic Centre – The stock will debut on the bourses today. The final issue price has been fixed at Rs 531 per share.
- Ami Organics -The company will list its equity shares on the BSE and NSE today. The offer price has been fixed at Rs 610 per equity share.
- India Aug. Consumer Prices Rise 5.3% Y/y, Est. +5.60%
- Palm Oil Climbs After India Cuts Import Duties on Vegetable Oil
- LIC IPO: India Tweaks Fee Timeline for Legal Advisors
- India Cumulative Monsoon Rainfall 6% Below Normal on Sept. 13
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