The Daily

The Daily

The Daily

September 14, 2021

The Daily

SENSEX NIFTY MIDCAP SMALL CAP

DOMESTIC INDICES

CLOSE 58178

POINTS -127

17355

-14

24783

78

27866

221

% CHANGE -0.22 -0.08 0.32 0.80

METAL IT

TECK REALTY Healthcare POWER AUTO OIL & GAS

CG Finance

CD BANKEX

SECTORAL INDICES

CLOSE 21008 34554 15189 3343 26612 3051 22710 17434 25754 8421 40170 41606

POINTS 304 234 98 21 97 7 17 7 -13 -16 -73 -208

% CHANGE 1.47 0.68 0.65 0.62 0.37 0.23 0.08 0.04 -0.05 -0.18 -0.18 -0.50

BSE 200 GAINERS/LOSERS

GAINERS

%

SYNGENE

6.15

LOSERS IDEA

% -5.13

NIACL

5.57

FRETAIL

-4.26

JSWENERGY

4.98

ADANIGREEN

-2.52

IGL

4.81

RELIANCE

-2.22

MINDTREE

4.50

BANKINDIA

-2.19

ADVANCE/DECLINES

BSE

%

ADVANCES

1719

50

DECLINES

1544

45

UNCHANGED

205

6

INSTITUTIONAL ACTIVITY

Rs Cr

13/09/21

09/09/21

SEPT TOTAL

FII

1419

423

6395

DII

-560

704

781

Indian markets could open mildly higher, in line with largely positive Asian markets today and positive Dow Jones index in US markets on Monday.....

The Dow Jones Industrial Average and the S&P 500 booked their first positive close in six sessions Monday, with the blue-chip index scoring its best daily gain in about five weeks. The Nasdaq Composite ended 1% lower, extending its losing streak to a fourth session in a row with selling in healthcare, growth and value stocks weighing on equities. House Democrats have proposed a capital gains tax rate hike that was lower than many had feared. The party's new tax policy proposal includes a hike to 25% from 20% on capital gains, more benign than the feared raise to 39.6%. The Democrats also proposed a corporate tax hike to 26.5% from 21%, though President Biden had initially desired a raise to 28%.

The U.S. federal budget deficit narrowed to $2.71 trillion in the first 11 months of the fiscal year, the Treasury Department said Monday. This is down $297 million or 10% from the $3 trillion deficit over the same period last year.

An investor survey conducted by Deutsche Bank found more than two-thirds of respondents expecting at least a 5% decline in stocks by the end of the year. The same survey found the biggest risks to the market are new variants that bypass vaccines, and higher than expected inflation or bond yields.

China fired a fresh regulatory shot at its tech giants, telling them to end a long-standing practice of blocking each other's links on their websites. The Financial Times also reported that China is aiming to break up the payments app Alipay.

India's Consumer Price Index-based Inflation (CPI) for August 2021 came in at 5.30 percent, compared with 5.59 percent in July, as food prices cooled further, especially in the case of vegetable inflation. Consumer Food Price Inflation (CFPI) for August stood at 3.11 percent compared to 3.96 percent in July.

Asian stocks were steady Tuesday after the U.S. snapped a five-day drop ahead of inflation data that could impact expectations of the likely timeline for a reduction in Federal Reserve stimulus. In Hong Kong, China Evergrande Group's stock plunged more than 6% after the embattled property developer on Tuesday flagged expectations for a "significant continuing decline in contract sales in September," with dampened confidence after negative media reports surrounding the firm.

The Daily

DOW JONES S & P 500 NASDAQ FTSE CAC DAX NIKKEI SHANGHAI HANG SENG BOVESPA

GLOBAL INDICES

CLOSE 34870

POINTS 261.91

4469

10.15

15106

-9.90

7068

39.23

6677

13.16

15701

91.61

30654

206.13

3706

-9.10

25744

-69.81

116404

2118.00

% CHANGE 0.76 0.23 -0.07 0.56 0.20 0.59 0.68 -0.24 -0.27 1.85

USD/INR EURO/USD USD/GBP USD/JPY

EXCHANGE RATES

VALUE 73.6 1.181 1.384 110.1

% CHANGE 0.20 0.04 0.05 0.08

COMMODITIES

GOLD ($ / Oz)

SILVER ($ / Oz)

CRUDE OIL FUTURES BRENT OIL ($ / Barrel)

VALUE 1792.9

23.7 70.8

73.8

% CHANGE -0.09 -0.26 0.47

0.38

BOND YIELD

VALUE

IND10 YEAR BOND YIELD

6.192

% CHANGE +0.014

DR REDDY'S LAB HDFC BANK ICICI BANK TATA MOTORS WIPRO VEDANTA LTD INFOSYS

ADR

VALUE 67.2 75.2 19.3 20.4 9.52 16.73 22.96

% CHANGE 1.90 -0.33 -0.26 0.74 0.63 0.78 -0.13

Nifty closed mildly down in a narrow band of closings over the past four days on the first day of the trading week on Sept 13. At close, Nifty was down 14 points or 0.08% at 17355.

Nifty continues to close in a narrow band of 17353-17378 over the past 5 sessions. This reflects lack of enthusiasm on the part of sellers to sell aggressively while buyers keep nibbling at individual stocks. Advance decline ratio continues to be positive. 17254-17437 is the band for the near term for the Nifty.

CPI Inflation eases to Four-Month low in August: Retail inflation declined in August, led by lower prices across a number of food items. Consumer Price Index inflation stood at 5.3% in August 2021 compared with 5.59% in July. Inflation in food and beverages fell to 3.8% from 4.5% in July. Core inflation too eased to 5.89% in August, compared to 6% in July. Estimate for August CPI was at 5.6%.

Infosys, Microsoft ink multi-year deal with Ausgrid: Infosys and Microsoft have entered into a multi-year strategic engagement with Ausgrid to accelerate the cloud transformation of the largest electricity distributor on Australia's east coast. This programme will further Ausgrid's vision to connect communities and empower lives with a focus on affordability, reliability and sustainability.

OPEC sees Delta variant weighing on oil demand before 2022 growth: The Organization of the Petroleum Exporting Countries (OPEC) trimmed its world oil demand forecast for the last quarter of 2021 due to the Delta coronavirus variant, saying a further recovery would be partially delayed until next year when consumption will exceed pre-pandemic rates. The OPEC expects oil demand to average 99.70 million barrels per day (bpd) in the fourth quarter of 2021, down 110,000 bpd from last month's forecast.

Indian sugar sector set to have bumper export season: Indian sugar mills and traders are all set to witness a bumper export season with the international price of sugar at a four-year high of around 20 cents/lb and sugar flow from Brazil drying up. Brazil will have lower sugar production in the current sugar season (April 2021 - March 2022), owing to dry weather conditions due to drought followed by the incidence of frost. Brazil's next sugar season may also be affected by the worst-ever drought in Brazil in the last 90 years. As a result, world prices are expected to remain bullish.

The Daily

Zee Entertainment's Manish Chokhani, Ashok Kurien resign from board ahead of AGM: Zee Entertainment Enterprises Ltd announced that Manish Chokhani and Ashok Kurien have resigned from the position of Non-Executive Non-Independent Directors of the firm with immediate effect.While Chokhani had cited changed circumstances and perspective post COVID, Kurien had reasoned his pre-occupation for the resignation, the firm said informed in a regulatory filing. Following the resignation, Kurien has been ceased from the membership of firm's corporate social responsibility committee and stakeholder's relationship committee of the board with immediate effect. Similarly, Chokhani has been ceased from the membership of firm's nomination and remuneration committee and risk management committee of the board with immediate effect. Earlier on August 23, the firm had informed -- through a regulatory filing - that the 39th Annual General Meeting (AGM) of the company will be held on September 14, 2021.

KNR Constructions received a Letter of Acceptance for HGCL: The company received a Letter of Acceptance for Hyderabad Growth Corridor (HGCL) - widening of existing service roads from Nanakramguda to TSPA and Narsingi to Kollur and BT Overlay of Bitumen pavement from Gachibowli to Shamshabad of Outer Ring Road, Hyderabad. The contract is worth Rs 312.8 crore and is to be completed within a period of 15 months from the date of signing of the agreement.

Advanced Enzyme updates on clinical trials for its health supplements: To treat post-Covid fatigue complications Advanced Enzyme Technologies announced that its systemic enzyme and probiotic supplements ImmunoSEB and ProbioSEB CSC3 have passed the promising stages of randomized controlled clinical trials in terms of efficacy to resolve post COVID fatigue symptoms. It is a fact that muscle fatigue and cognitive disturbances persist in patients after recovery from acute COVID-19 disease. However, there are no specific treatments available globally to treat post COVID fatigue complications.With an aim to evaluate the efficacy and safety of the health supplements ImmunoSEB (systemic enzyme complex) and ProbioSEB CSC3 (probiotic complex) in patients suffering from COVID-19 induced fatigue, a randomized, multi centric, double blind and placebo controlled trial was conducted in 200 patients suffering from post COVID fatigue symptoms. In Aug-2021, the company forayed into the E-commerce space with its flagship all natural, chemical-free COVID immunity management bundle -- `ImmunoSEB' and `Biome ULTRA' in the US and Indian markets.

Redington's subsidiary concluded acquisition of Brightstar: Redington (India)'s step down subsidiary Arena Bilgisayar Sanayi Ve Ticaret A.S. Turkey concluded its binding Share Purchase Agreement to acquire 100 percent shares of Brightstar Telekom?nikasyon Dagitim Ltd. Sti, for US$ 35mn. It had reported revenue of US$ 342mn in CY20. Brightstar Turkey's operations primarily consist of value added distribution of leading brands of smartphones, devices, consumer electronics and accessories to telecom operators.

DCM Shriram to acquire stake in SAPL: Company has approved the proposal to acquire 17,32,500 equity shares of Rs 10 each of Shriram Axiall (SAPL) at Rs 137.4 per share, from Axiall LLC USA, being entire 50 percent of stake held by Axiall LLC in SAPL. Shriram Axiall is a 50:50 joint venture. The JV had reported sales of Rs 130.6cr in FY21.

The Daily

Important news/developments to influence markets ? India's Consumer Price Index-based Inflation (CPI) for August 2021 came in at 5.30 percent, compared with 5.59

percent in July, as food prices cooled further, especially in the case of vegetable inflation. ? Japan's wholesale inflation hovered near a 13-year high in August as raw material imports continued to rise. The

corporate goods price index (CGPI), rose 5.5% in August from a year earlier, slightly below a median market forecast for a 5.6% gain.

 ................
................

In order to avoid copyright disputes, this page is only a partial summary.

Google Online Preview   Download