Market Highlights

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Get the latest Indian stock / share market highlights, BSE/NSE stock news, business research reports & details - updated daily by Money Times.

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September 04, 2024

• Nifty closed @25,279.85 (+1.15) and Sensex @82,555.44 (-4.41) on Tuesday GIFT Nifty was trading at 25,178 (as of 7:30 am)
• FIIs net bought equities in cash to the tune of Rs 1,029 cr whereas DIIs bought equities in cash worth Rs 1,896 cr on September 2024
• Govt clears big ticket defence purchases worth Rs 1.45 lakh cr
• Bajaj Finance has no plans yet for a banking licence Sanjiv Bajaj
• Congress questions ICICI Bank's "no salary to Buch" claim
• Pernod Ricard to sell Imperial Blue brand, looking at Rs 5,000 cr valuation
• Cipla's MK Hamied resigns due to health reasons
• Govt to launch GIC Re OFS today, sell 6.8% worth Rs 4,700 cr
• Steel recycling mandate for automakers on the anvil
• Brigade Enterprises launches QIP to raise Rs.1,500 crore, stock rises
• Torrent Power enters fresh deal with Maharashtra for 5,600 MW water pump project
• BSNL to get Rs 6000 crore more from govt to meet capex needs for 4 G rollout
• CCD cafe count falls to 450 in FY24 number of operational vending machines rises
• Global asset management firm Janus Henderson has marked down its investment in Pharmeasy by 92 to value the co at $458 mn
• Gensol Engineering and Matrix Gas consortium win Rs.164 crore bid for India's first bio hydrogen project
• TCS expands partnership with Google Cloud to launch AI powered cybersecurity solutions
• AU Small Finance Bank seeks RBI approval for transition to universal bank
• Panacea Biotec jumps as Karnataka declares dengue epidemic
• Signature Global shares tank 6.5% after 4.1% equity worth Rs.828 crore change hands
• Indian ADRs: ICICI Bank (+0.6%), Wipro (-1.4%) and Dr Reddy's (-2.8%)
• Nikkei and Taiex plunge 3%, leading losses in Asia after Wall Street plummets on weak U.S. data
• Asia-Pacific markets plunged on Wednesday, led by Nikkei 225 after U.S. tech stocks sold off & weak U.S. economic data sparked recession fears.
• * Nikkei 225 was down 3.41%, leading losses in Asia, while the broad based Topix was down 2.74%.
• * South Korea’s Kospi
• lost 2.61% as well small cap Kosdaq, which saw a 2.94% loss.
• * Australia’s S&P/ASX 200 lost 1.46%.
• * Hong Kong’s Hang Seng index futures were lower
• Debt:
• 10 yr G sec yield fell by 1 bps to 6.87% on Tuesday
• Indian states accepted entire notified amount of Rs 20,553 cr in weekly auction
• World Bank has raised India’s FY25 GDP growth forecast to 7.0% from 6.6% earlier
• Banking system liquidity surplus improved to a 1-month high of Rs 2.23 lakh cr as of 2nd Sep’ 24 as per RBI data
• FDI in India rose by 47.8% YoY to $16.2 bn in Q1FY25 led by healthy inflows in services, computer, telecom and pharma sectors.
• Commodities
• Brent crude was down by 4.62% to $73.72 /barrel at their lowest levels in nearly nine months on signs of a deal to resolve a dispute that has halted Libyan crude production and exports
• Gold futures settled lower pressured by a firm dollar, while investors awaited U S non farm payrolls data that could determine the size of the potential cut in the Federal eserve's September policy meeting Spot gold was down by 0.24% to $2,493.35/ oz on Tuesday
• Merchants’ association urges Centre to review decision on mandatory hallmarking and HUIC certification for purifying old ornaments to make 24 carat gold bars, and provide small and medium refineries licences for gold purification
• Copper futures on Tuesday fell 0.54% to Rs 797.05 /Kg as participants cut their positions amid muted demand in the domestic market
• Currency:
• Rupee depreciated by 4 paise and settled at 83.97 against the US dollar on Tuesday, due to a strong greenback against major currencies overseas and a sluggish trend in domestic equities
• US Dollar Index ( increased by 0.03% to end at 101.70 on Tuesday, as ISM Manufacturing PMI came in at 47.2 for Aug’ 24 compared to 46.8 for Jul’ 24 and lower than expectation of 47.5
• USD/CAD increased by 0.40 to end at 1.354 on Tuesday, as the Canadian Dollar weakens ahead of the BoC policy meeting
• USD/JPY fell by 1.04% to end at 145.37 on Tuesday, as BoJ’s Governor Ueda delivers hawkish interest rate guidance
• GBP/USD fell by 0.27% to end at 1.311 on Tuesday, as Investors expect the BoE keeping interest rates steady at 5 this month
• International Markets
• U S markets fell on Tuesday with the Dow Jones, S&P 500 and Nasdaq down by 1.51%, 2.12% and 3.26% respectively All 3 major futures indices are trading down by 20-50 bps at the time of writing the report
• U S Global Manufacturing PMI continued to remain in the contraction zone at 47.9 in Aug 24 vs 49.6 in Jul 24 and as compared to consensus estimates of 48.0
• U S ISM Manufacturing PMI too remained in the contraction zone but increased marginally to 47.2 in Aug 24 vs 46.8 in Jul 24 and as compared to consensus estimates of 47.5
• China Caixin Services PMI declined marginally to 51.6 in Aug 24 vs 52.1 inJul 24 and as compared to expectations of 54.0