The Nifty metal index extended gains from the previous session to climb 1.1% and was the top performer among other sub-indexes.
Aluminium and copper producer Hindalco Industries and JSW Steel were the top gainers on the Nifty 50 index, climbing 1.8% and 1%, respectively.
Market participants will turn their focus to the meeting later in the day of the Organization of the Petroleum Exporting Countries (OPEC) and its allies, a group known as OPEC+, where they may decide to keep current output levels or even cut production to bolster prices, despite supplies remaining tight.
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Most active stocks in afternoon session
Price as on 05 Sep, 2022 03:01 PM, Click on company names for their live prices.
OPEC+ to discuss 100,000 bpd oil production cut: Reuters
OPEC+ will discuss oil output cuts by 100,000 barrels per day among other options at its meeting on Monday, an OPEC+ source said.
IB Realty among top 5 gainers from the realty pack
Price as on 05 Sep, 2022 02:05 PM, Click on company names for their live prices.
European shares slide as Nord Stream 1 shutdown extends
European shares tumbled on Monday after Russia extended a halt on gas flows down the Nord Stream 1 pipeline to Europe, sparking worries over energy prices and growth and spurring governments to announce emergency measures. The Europe-wide STOXX 600 index fell 1.6% by 0713 GMT, while Germany’s DAX index sank 2.8%. German utilities including Uniper, RWE, E.ON and PNE dropped between 3.5% and 11%.
KPI Green Energy is setting up green hybrid capacities totalling 16.10 MW at Bhavnagar, under the Gujarat hybrid power policy 2018.
Price as on 05 Sep, 2022 01:21 PM, Click on company names for their live prices.
Bellwether lenders HDFC Bank and State Bank of India (SBI) plan to collectively raise up to Rs 10,000 crore through sales of perpetual bonds this week, people familiar with the matter told ET, pointing to booming credit demand in a rebounding economy that’s now the world’s fifth largest.
Price as on 05 Sep, 2022 01:17 PM, Click on company names for their live prices.
Reliance Power and its subsidiary have inked a pact with Varde Partners for availing debt of up to Rs 1,200 crore. In a regulatory filing, Reliance Power said the company and its subsidiary have entered into a indicative Memorandum of Understanding (MoU) with Varde Partners for availing debt of up to Rs 1,200 crore (USD 150 million) “for settlement and discharge and/or acquisition and restructuring of certain financial debt availed by Reliance Power.”
Price as on 05 Sep, 2022 12:58 PM, Click on company names for their live prices.
STOCK IN FOCUS: TATA MOTORS
#StocksInFocus | Tata Motors launches new tippers, trucks, CNG-trucks @TataMotors #StockMarket #StocksToWatch https://t.co/KeZJ6Zh1v5
— ET NOW (@ETNOWlive) 1662361554000
These stocks defy market mood, fall up to 5%
Price as on 05 Sep, 2022 12:44 PM, Click on company names for their live prices.
These NSE stocks surged to 52-week highs in trade today
Blue Jet Healthcare files draft papers with Sebi for IPO
Blue Jet Healthcare, a specialty pharmaceutical and healthcare ingredient and intermediate company, has filed its draft red herring prospectus (DRHP) with market regulator Sebi for an initial public offering (IPO). The proposed issue would be a complete offer-for-sale (OFS) of up to 21,683,178 equity shares by the promoter and selling shareholders and comprises up to 18,366,311 shares by Akshay Bansarilal Arora and up to 3,316,867 by Shiven Akshay Arora.
The more we hold on in the face of significant global headwinds, the riskier the market gets. People think that resilience makes the market safer but it is actually the opposite. So we need to be wary in the near term. We need to see how things pan out and it will be tough for the Indian markets not to correct if the global correction continues the way it is.
– Sandip Sabharwal, asksandipsabharwal.com
Dixon Technologies signs deal with Google to sub license rights
Price as on 05 Sep, 2022 11:37 AM, Click on company names for their live prices.
Check out the top gainers from banking pack
Price as on 05 Sep, 2022 11:22 AM, Click on company names for their live prices.
News report of a merger between Federal Bank and another private bank (Kotak Bank) is speculative in nature, former clarifies
Price as on 05 Sep, 2022 11:04 AM, Click on company names for their live prices.
India’s services activity grew faster in Aug; hiring at over 14-year high
- India’s dominant services industry grew faster than expected in August thanks to a solid expansion in demand and a continued easing in cost pressures, encouraging firms to hire at the quickest pace in more than 14 years, a private survey showed.
- Driven by strong growth in services and manufacturing activity, Asia’s third-largest economy expanded at its fastest annual pace in a year during the April-to-June quarter.
- However, that momentum is unlikely to be sustained over the coming quarters as higher interest rates, elevated price pressures, and growing concerns about a global recession pose significant risks to the economy.
Aditya Birla AMC is joining the race for stake in UTI AMC: ET NOW Sources
Price as on 05 Sep, 2022 10:59 AM, Click on company names for their live prices.
FPIs’ addition of shorts in index futures could check Nifty’s upside
The long-short ratio in index futures – a measure of market sentiment – of overseas investor positions has plunged to a two-month low of 19%, which could make the ride challenging in the coming week, said analysts. The long-short ratio plunged from 76% on Tuesday to 37% on Thursday and 19% on Friday, showing that FPIs suddenly turned bearish on the Indian market with 81% short position.
Media & entertainment pack gains; these are the top performers
Price as on 05 Sep, 2022 10:33 AM, Click on company names for their live prices.
India 10-year bond a good bet for long position: Morgan Stanley
- Morgan Stanley sees a “good chance” of JPMorgan including Indian government bonds in its index, and recommended going long on the 10-year benchmark bond yield.
- “We now believe that there is a very good chance that JPM will announce the index inclusion of India’s bond market in mid-September,” strategists Min Dai and Madan Reddy said in a note.
- “We recommend to position for a strong INR and lower G-Sec yields tactically. We like to add a short EUR/INR limit order and long 10-year G-Secs, targeting 25bp lower from here.”
Tamilnad Mercantile Bank IPO kicks off: Should you subscribe?
Most analysts said the asking valuations are attractive when compared with peers, but the bank’s future growth would be subject to pending legal actions. Some of them, therefore, have a ‘subscribe’ rating on the issue with a long-term view.
The week opens with a modest downside objective of 17440-370, before allowing a chance for bulls to fight back. Inability to push beyond 17580, would however bring the 17000-16650 region again in play.
– Anand James – Chief Market Strategist at Geojit Financial Services
Market Movers: YES Bank, Voda Idea, Trident among most active stocks on NSE in early trade
Price as on 05 Sep, 2022 09:45 AM, Click on company names for their live prices.
Digital financial services firm One97 Communications (Paytm), which operates under the Paytm brand, on Sunday denied any link with the merchants that are under the Enforcement Directorate scanner in the Chinese loan app case.
Price as on 05 Sep, 2022 09:29 AM, Click on company names for their live prices.
US jobs generation figures and employment data released last Friday are favorable from the equity market perspective. Jobs generation (315000 in August) continues to be strong indicating a robust economy. This would have called for a hawkish Fed action on 21st September, but unemployment rising from 3.5% to 3.7% and declining wage growth reflect a slowing economy and proof that rate hikes are working. The Fed may again hike the rate by 75 bp this month; it is also possible that the hike may be 50bp. Either way, the market is unlikely to be surprised. India is presently the best performing market globally. FIIs turning buyers has imparted strength to the market. Derivatives data indicates high volatility ahead.
– Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services
Sensex Heatmap: Kotak Bank top performer, Nestle worst
OPENING BELL: Sensex gains over 200 points, Nifty above 17,550; Suzlon rallies 10%, Bajaj Hindusthan Sugar 5%
Buy or Sell: Stock ideas by experts for September 05, 2022
Angel One August average daily turnover up 20.1% MoM, up 117.9% YoY
Asia shares ease, euro slugged by energy crisis
Asian shares slipped on Monday while the euro took a fresh spill after Russia shut a major gas pipeline to Europe, leading some governments there to announce emergency measures to ease the pain of soaring energy prices.
SGX Nifty signals a negative start
Nifty futures on the Singapore Exchange traded 43 points, or 0.25 per cent, lower at 17,496, signaling that Dalal Street was headed for a negative start on Monday.
Quarterly earnings today
Fedders Electric & Engineering, Marg Techno Projects, Sri Krishna Constructions and Indosolar are among companies that will announce their quarterly earnings today.
Tech View: Nifty50 may consolidate in broader 17,300-800 range
The Nifty50 on Friday formed a double Inside Bar pattern on the daily scale, reflecting indecision. On the weekly scale, the index formed a bullish candle with an upper wick, reflecting selling at highs. Analysts said the index might keep trading in a consolidation phase unless it breaches 17,300-800 range decisively.
Oil prices climb more than $1/bbl ahead of OPEC+ meeting
Oil prices jumped more than $1 a barrel on Monday, extending gains as investors eyed possible moves by OPEC+ producers to tweak production and support prices at a meeting later in the day.
Tokyo stocks open lower after US losses
Tokyo stocks opened lower on Monday, extending falls on Wall Street where sentiment worsened after Russia said it would keep a key gas pipeline to Germany offline. The benchmark Nikkei 225 index was down 0.31 percent, or 85.23 points, at 27,565.61 in early trade, while the broader Topix index slipped 0.29 percent, or 5.65 points, to 1,924.52.
Wall Street ends week on down note as jobs report gain fade
U.S stocks closed out the trading week on a down note on Friday, as early gains from a jobs report that showed a labor market that may be starting to loosen gave way to worries about the European gas crisis.
Rupee declines by 31 paise to close at 79.87 against US dollar
The rupee declined by 31 paise to close at 79.87 against the US currency on Friday due to a strong dollar demand from importers and losses in Asian peers.
Sensex, Nifty on Friday
The 30-share Sensex rose 36.74 points to end at 58,803.33. Its broader peer, Nifty50, ended at 17,539.45, down 3.35 points.
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