As per provisional closing data, the barometer index, the S&P BSE Sensex rose 375.61 points or 0.46% to 81,559.54. The Nifty 50 index added 84.25 points or 0.34% to 24,936.40.
The broader market underperformed the frontline indices. The S&P BSE Mid-Cap index fell 0.28% and the S&P BSE Small-Cap index declined 0.65%.
The market breadth was negative. On the BSE, 1,657 shares rose and 2,383 shares fell. A total of 141 shares were unchanged.
The NSE’s India VIX, a gauge of the market’s expectation of volatility over the near term, slipped 6.43% to 14.24.
New Listing:
Shares of Gala Precision Engineering closed at Rs 787.05 on the BSE, representing a premium of 48.78% as compared with the issue price of Rs 529.
The scrip was listed at Rs 750, exhibiting a premium of 41.78% to the issue price.
The stock has hit a high of 787.45 and a low of 721. On the BSE, over 2.97 lakh shares of the company were traded.
IPO Update :
The initial public offer (IPO) of Kross received 99,44,986 bids for shares as against 1,53,50,877 shares on offer, according to stock exchange data at 15:15 IST on Monday (09 September 2024). The issue was subscribed 0.65 times.
The issue opened for bidding on Monday (9 September 2024) and it will close on Wednesday (11 September 2024). The price band of the IPO is fixed between Rs 228 to Rs 240 per share. An investor can bid for a minimum of 62 equity shares and in multiples thereof.
The initial public offer (IPO) of Tolins Tyres received 1,02,67,554 bids for shares as against 74,88,372 shares on offer, according to stock exchange data at 15:15 IST on Monday (9 September 2024). The issue was subscribed 1.37 times.
The issue opened for bidding on Monday (9 September 2024) and it will close on Wednesday (11 September 2024). The price band of the IPO is fixed between Rs 215 to 226 per share. An investor can bid for a minimum of 66 equity shares and in multiples thereof.
The initial public offer (IPO) of Bajaj Housing Finance received 99,27,81,738 bids for shares as against 72,75,75,756 shares on offer, according to stock exchange data at 15:15 IST on Monday (9 September 2024). The issue was subscribed 1.36 times.
The issue opened for bidding on Monday (9 September 2024) and it will close on Wednesday (11 September 2024). The price band of the IPO is fixed between Rs 66 to 70 per share. An investor can bid for a minimum of 214 equity shares and in multiples thereof.
The initial public offer (IPO) of Shree Tirupati Balajee Agro Trading Company received 1,49,61,43,980 bids for shares as against 1,43,08,000 shares on offer, according to stock exchange data at 15:15 IST on Monday (9 September 2024). The issue was subscribed 104.57 times.
The issue opened for bidding on Thursday (5 September 2024) and it will close on Monday (9 September 2024). The price band of the IPO is fixed between Rs 78 to 83 per share. An investor can bid for a minimum of 180 equity shares and in multiples thereof.
Buzzing Index:
The Nifty FMCG index jumped 2.04% to 64,465.85. The index shed 0.88% in the past two consecutive trading sessions.
Godrej Consumer Products (up 5.66%), Hindustan Unilever (up 2.93%), United Spirits (up 2.9%), Dabur India (up 2.88%), United Breweries (up 2.73%), Varun Beverages (up 2.18%), ITC (up 1.99%), Britannia Industries (up 1.77%), Marico (up 1.65%) and Tata Consumer Products (up 1.59%) advanced.
On the other hand, Balrampur Chini Mills (down 2.05%) and Radico Khaitan (down 0.95%) edged lower.
Stocks in Spotlight:
Bajaj Finserv rose 0.33%. The company said that its subsidiary, Bajaj Allianz General Insurance Company’s gross direct premium underwritten for August 2024 was at Rs 1,736.23 crore, recording a growth of 3.48% year on year.
JSW Infrastructure added 1.55% after the companys board has approved the capacity expansion plan of the material subsidiaries, JSW Jaigarh Port and JSW Dharamtar Port.
Nazara Tech rose 0.41%. The gaming and sports media company announced that it has acquired 5,157 equity shares of Rs 10 each, representing 48.42% of the equity share capital of Paper Boat Apps, from its founding shareholders, Anupam Dhanuka and Anshu Dhanuka.
Suzlon Energy shed 0.55%. The company announced that it has bagged Indias largest wind energy order of 1166 MW from NTPC Green Energy (NGEL), the renewables arm of NTPC.
NIBE was locked in 5% upper circuit after the company announced the signing of an MoU with various entities for building and operating a private Earth Observation Constellation.
The entities that are a part of this consortium are Larsen & Toubro, Centum Electronics, Space Fields, SISIR Radar, CYRAN AI Solutions, AgniKul Cosmos, DV2JS Innovation, Thales Alenia Space and Thales India.
Mazagon Dock Shipbuilders declined 1.23%. The ship building company announced that it has received a notification of award of contract worth Rs 1,486.40 crore from Oil & Natural Gas Corporation (ONGC).
Spicejet jumped 4.13% after the company has entered into a term sheet with Carlyle Aviation Management (CAML) to restructure certain aircraft lease obligations of SpiceJet aggregating to $137.68 million as on 30 June 2024.
SML ISUZU slipped 0.79%. The company said that it has decided to increase the prices of its buses (all models) in the range of 1.0% to 1.5%, effective 01 October 2024.
Deep Industries was locked in 20% upper circuit after the company has received significant order from Oil and Natural Gas Corporation (ONGC) worth Rs 1,402 crore for production enhancement operations in mature field of the company’s Rajahmundry Asset.
Ion Exchange (India) advanced 1.05% after the firm received contracts from Tecnimont SpA, Italy for the hail & ghasha development project of ADNOC in UAE, totaling to approximately of Rs 168 crore.
Global Markets:
Europeans stocks advanced while most Asian stocks declined on Monday as selling pressure intensified, triggered by a weaker-than-expected US jobs report and the looming Fed meeting. Concerns about a slowdown in China and Germany further fueled the decline in stocks, which were already volatile due to anticipated Fed rate cuts.
The US non-farm payrolls increased by only 142,000 in August, falling short of the expected 165,000. This marked the lowest three-month average since mid-2020. Although the unemployment rate decreased to 4.2%, it was the first drop in five months.
In China, the consumer price index rose by 0.6% year-on-year in August, primarily due to declines in transportation, home goods prices, and rents.
Meanwhile, US markets suffered a significant setback on Friday. The S&P 500 experienced its worst week since March 2023, as investors grappled with the implications of the weak jobs report and abandoned leading technology stocks. The broad index declined by 1.73%, while the Nasdaq Composite shed 2.55%. The Dow Jones Industrial Average fell 1.01%. Megacap tech stocks took a particularly hard hit as investors dumped risk assets amidst growing concerns about the US economy’s health.
Investors widely anticipate the Fed to lower interest rates by at least a quarter-percentage point at its upcoming policy meeting. However, the softening labor market trends have increased speculation that the central bank might opt for a more aggressive cut. Traders remain divided on whether the Fed will cut by a quarter- or half-percentage point.
Powered by Capital Market – Live News
Disclaimer: No Business Standard Journalist was involved in creation of this content
As per provisional closing data, the barometer index, the S&P BSE Sensex rose 375.61 points or 0.46% to 81,559.54. The Nifty 50 index added 84.25 points or 0.34% to 24,936.40.
The broader market underperformed the frontline indices. The S&P BSE Mid-Cap index fell 0.28% and the S&P BSE Small-Cap index declined 0.65%.
The market breadth was negative. On the BSE, 1,657 shares rose and 2,383 shares fell. A total of 141 shares were unchanged.
The NSE’s India VIX, a gauge of the market’s expectation of volatility over the near term, slipped 6.43% to 14.24.
New Listing:
Shares of Gala Precision Engineering closed at Rs 787.05 on the BSE, representing a premium of 48.78% as compared with the issue price of Rs 529.
The scrip was listed at Rs 750, exhibiting a premium of 41.78% to the issue price.
The stock has hit a high of 787.45 and a low of 721. On the BSE, over 2.97 lakh shares of the company were traded.
IPO Update :
The initial public offer (IPO) of Kross received 99,44,986 bids for shares as against 1,53,50,877 shares on offer, according to stock exchange data at 15:15 IST on Monday (09 September 2024). The issue was subscribed 0.65 times.
The issue opened for bidding on Monday (9 September 2024) and it will close on Wednesday (11 September 2024). The price band of the IPO is fixed between Rs 228 to Rs 240 per share. An investor can bid for a minimum of 62 equity shares and in multiples thereof.
The initial public offer (IPO) of Tolins Tyres received 1,02,67,554 bids for shares as against 74,88,372 shares on offer, according to stock exchange data at 15:15 IST on Monday (9 September 2024). The issue was subscribed 1.37 times.
The issue opened for bidding on Monday (9 September 2024) and it will close on Wednesday (11 September 2024). The price band of the IPO is fixed between Rs 215 to 226 per share. An investor can bid for a minimum of 66 equity shares and in multiples thereof.
The initial public offer (IPO) of Bajaj Housing Finance received 99,27,81,738 bids for shares as against 72,75,75,756 shares on offer, according to stock exchange data at 15:15 IST on Monday (9 September 2024). The issue was subscribed 1.36 times.
The issue opened for bidding on Monday (9 September 2024) and it will close on Wednesday (11 September 2024). The price band of the IPO is fixed between Rs 66 to 70 per share. An investor can bid for a minimum of 214 equity shares and in multiples thereof.
The initial public offer (IPO) of Shree Tirupati Balajee Agro Trading Company received 1,49,61,43,980 bids for shares as against 1,43,08,000 shares on offer, according to stock exchange data at 15:15 IST on Monday (9 September 2024). The issue was subscribed 104.57 times.
The issue opened for bidding on Thursday (5 September 2024) and it will close on Monday (9 September 2024). The price band of the IPO is fixed between Rs 78 to 83 per share. An investor can bid for a minimum of 180 equity shares and in multiples thereof.
Buzzing Index:
The Nifty FMCG index jumped 2.04% to 64,465.85. The index shed 0.88% in the past two consecutive trading sessions.
Godrej Consumer Products (up 5.66%), Hindustan Unilever (up 2.93%), United Spirits (up 2.9%), Dabur India (up 2.88%), United Breweries (up 2.73%), Varun Beverages (up 2.18%), ITC (up 1.99%), Britannia Industries (up 1.77%), Marico (up 1.65%) and Tata Consumer Products (up 1.59%) advanced.
On the other hand, Balrampur Chini Mills (down 2.05%) and Radico Khaitan (down 0.95%) edged lower.
Stocks in Spotlight:
Bajaj Finserv rose 0.33%. The company said that its subsidiary, Bajaj Allianz General Insurance Company’s gross direct premium underwritten for August 2024 was at Rs 1,736.23 crore, recording a growth of 3.48% year on year.
JSW Infrastructure added 1.55% after the companys board has approved the capacity expansion plan of the material subsidiaries, JSW Jaigarh Port and JSW Dharamtar Port.
Nazara Tech rose 0.41%. The gaming and sports media company announced that it has acquired 5,157 equity shares of Rs 10 each, representing 48.42% of the equity share capital of Paper Boat Apps, from its founding shareholders, Anupam Dhanuka and Anshu Dhanuka.
Suzlon Energy shed 0.55%. The company announced that it has bagged Indias largest wind energy order of 1166 MW from NTPC Green Energy (NGEL), the renewables arm of NTPC.
NIBE was locked in 5% upper circuit after the company announced the signing of an MoU with various entities for building and operating a private Earth Observation Constellation.
The entities that are a part of this consortium are Larsen & Toubro, Centum Electronics, Space Fields, SISIR Radar, CYRAN AI Solutions, AgniKul Cosmos, DV2JS Innovation, Thales Alenia Space and Thales India.
Mazagon Dock Shipbuilders declined 1.23%. The ship building company announced that it has received a notification of award of contract worth Rs 1,486.40 crore from Oil & Natural Gas Corporation (ONGC).
Spicejet jumped 4.13% after the company has entered into a term sheet with Carlyle Aviation Management (CAML) to restructure certain aircraft lease obligations of SpiceJet aggregating to $137.68 million as on 30 June 2024.
SML ISUZU slipped 0.79%. The company said that it has decided to increase the prices of its buses (all models) in the range of 1.0% to 1.5%, effective 01 October 2024.
Deep Industries was locked in 20% upper circuit after the company has received significant order from Oil and Natural Gas Corporation (ONGC) worth Rs 1,402 crore for production enhancement operations in mature field of the company’s Rajahmundry Asset.
Ion Exchange (India) advanced 1.05% after the firm received contracts from Tecnimont SpA, Italy for the hail & ghasha development project of ADNOC in UAE, totaling to approximately of Rs 168 crore.
Global Markets:
Europeans stocks advanced while most Asian stocks declined on Monday as selling pressure intensified, triggered by a weaker-than-expected US jobs report and the looming Fed meeting. Concerns about a slowdown in China and Germany further fueled the decline in stocks, which were already volatile due to anticipated Fed rate cuts.
The US non-farm payrolls increased by only 142,000 in August, falling short of the expected 165,000. This marked the lowest three-month average since mid-2020. Although the unemployment rate decreased to 4.2%, it was the first drop in five months.
In China, the consumer price index rose by 0.6% year-on-year in August, primarily due to declines in transportation, home goods prices, and rents.
Meanwhile, US markets suffered a significant setback on Friday. The S&P 500 experienced its worst week since March 2023, as investors grappled with the implications of the weak jobs report and abandoned leading technology stocks. The broad index declined by 1.73%, while the Nasdaq Composite shed 2.55%. The Dow Jones Industrial Average fell 1.01%. Megacap tech stocks took a particularly hard hit as investors dumped risk assets amidst growing concerns about the US economy’s health.
Investors widely anticipate the Fed to lower interest rates by at least a quarter-percentage point at its upcoming policy meeting. However, the softening labor market trends have increased speculation that the central bank might opt for a more aggressive cut. Traders remain divided on whether the Fed will cut by a quarter- or half-percentage point.
Powered by Capital Market – Live News
Disclaimer: No Business Standard Journalist was involved in creation of this content
As per provisional closing data, the barometer index, the S&P BSE Sensex rose 375.61 points or 0.46% to 81,559.54. The Nifty 50 index added 84.25 points or 0.34% to 24,936.40.
The broader market underperformed the frontline indices. The S&P BSE Mid-Cap index fell 0.28% and the S&P BSE Small-Cap index declined 0.65%.
The market breadth was negative. On the BSE, 1,657 shares rose and 2,383 shares fell. A total of 141 shares were unchanged.
The NSE’s India VIX, a gauge of the market’s expectation of volatility over the near term, slipped 6.43% to 14.24.
New Listing:
Shares of Gala Precision Engineering closed at Rs 787.05 on the BSE, representing a premium of 48.78% as compared with the issue price of Rs 529.
The scrip was listed at Rs 750, exhibiting a premium of 41.78% to the issue price.
The stock has hit a high of 787.45 and a low of 721. On the BSE, over 2.97 lakh shares of the company were traded.
IPO Update :
The initial public offer (IPO) of Kross received 99,44,986 bids for shares as against 1,53,50,877 shares on offer, according to stock exchange data at 15:15 IST on Monday (09 September 2024). The issue was subscribed 0.65 times.
The issue opened for bidding on Monday (9 September 2024) and it will close on Wednesday (11 September 2024). The price band of the IPO is fixed between Rs 228 to Rs 240 per share. An investor can bid for a minimum of 62 equity shares and in multiples thereof.
The initial public offer (IPO) of Tolins Tyres received 1,02,67,554 bids for shares as against 74,88,372 shares on offer, according to stock exchange data at 15:15 IST on Monday (9 September 2024). The issue was subscribed 1.37 times.
The issue opened for bidding on Monday (9 September 2024) and it will close on Wednesday (11 September 2024). The price band of the IPO is fixed between Rs 215 to 226 per share. An investor can bid for a minimum of 66 equity shares and in multiples thereof.
The initial public offer (IPO) of Bajaj Housing Finance received 99,27,81,738 bids for shares as against 72,75,75,756 shares on offer, according to stock exchange data at 15:15 IST on Monday (9 September 2024). The issue was subscribed 1.36 times.
The issue opened for bidding on Monday (9 September 2024) and it will close on Wednesday (11 September 2024). The price band of the IPO is fixed between Rs 66 to 70 per share. An investor can bid for a minimum of 214 equity shares and in multiples thereof.
The initial public offer (IPO) of Shree Tirupati Balajee Agro Trading Company received 1,49,61,43,980 bids for shares as against 1,43,08,000 shares on offer, according to stock exchange data at 15:15 IST on Monday (9 September 2024). The issue was subscribed 104.57 times.
The issue opened for bidding on Thursday (5 September 2024) and it will close on Monday (9 September 2024). The price band of the IPO is fixed between Rs 78 to 83 per share. An investor can bid for a minimum of 180 equity shares and in multiples thereof.
Buzzing Index:
The Nifty FMCG index jumped 2.04% to 64,465.85. The index shed 0.88% in the past two consecutive trading sessions.
Godrej Consumer Products (up 5.66%), Hindustan Unilever (up 2.93%), United Spirits (up 2.9%), Dabur India (up 2.88%), United Breweries (up 2.73%), Varun Beverages (up 2.18%), ITC (up 1.99%), Britannia Industries (up 1.77%), Marico (up 1.65%) and Tata Consumer Products (up 1.59%) advanced.
On the other hand, Balrampur Chini Mills (down 2.05%) and Radico Khaitan (down 0.95%) edged lower.
Stocks in Spotlight:
Bajaj Finserv rose 0.33%. The company said that its subsidiary, Bajaj Allianz General Insurance Company’s gross direct premium underwritten for August 2024 was at Rs 1,736.23 crore, recording a growth of 3.48% year on year.
JSW Infrastructure added 1.55% after the companys board has approved the capacity expansion plan of the material subsidiaries, JSW Jaigarh Port and JSW Dharamtar Port.
Nazara Tech rose 0.41%. The gaming and sports media company announced that it has acquired 5,157 equity shares of Rs 10 each, representing 48.42% of the equity share capital of Paper Boat Apps, from its founding shareholders, Anupam Dhanuka and Anshu Dhanuka.
Suzlon Energy shed 0.55%. The company announced that it has bagged Indias largest wind energy order of 1166 MW from NTPC Green Energy (NGEL), the renewables arm of NTPC.
NIBE was locked in 5% upper circuit after the company announced the signing of an MoU with various entities for building and operating a private Earth Observation Constellation.
The entities that are a part of this consortium are Larsen & Toubro, Centum Electronics, Space Fields, SISIR Radar, CYRAN AI Solutions, AgniKul Cosmos, DV2JS Innovation, Thales Alenia Space and Thales India.
Mazagon Dock Shipbuilders declined 1.23%. The ship building company announced that it has received a notification of award of contract worth Rs 1,486.40 crore from Oil & Natural Gas Corporation (ONGC).
Spicejet jumped 4.13% after the company has entered into a term sheet with Carlyle Aviation Management (CAML) to restructure certain aircraft lease obligations of SpiceJet aggregating to $137.68 million as on 30 June 2024.
SML ISUZU slipped 0.79%. The company said that it has decided to increase the prices of its buses (all models) in the range of 1.0% to 1.5%, effective 01 October 2024.
Deep Industries was locked in 20% upper circuit after the company has received significant order from Oil and Natural Gas Corporation (ONGC) worth Rs 1,402 crore for production enhancement operations in mature field of the company’s Rajahmundry Asset.
Ion Exchange (India) advanced 1.05% after the firm received contracts from Tecnimont SpA, Italy for the hail & ghasha development project of ADNOC in UAE, totaling to approximately of Rs 168 crore.
Global Markets:
Europeans stocks advanced while most Asian stocks declined on Monday as selling pressure intensified, triggered by a weaker-than-expected US jobs report and the looming Fed meeting. Concerns about a slowdown in China and Germany further fueled the decline in stocks, which were already volatile due to anticipated Fed rate cuts.
The US non-farm payrolls increased by only 142,000 in August, falling short of the expected 165,000. This marked the lowest three-month average since mid-2020. Although the unemployment rate decreased to 4.2%, it was the first drop in five months.
In China, the consumer price index rose by 0.6% year-on-year in August, primarily due to declines in transportation, home goods prices, and rents.
Meanwhile, US markets suffered a significant setback on Friday. The S&P 500 experienced its worst week since March 2023, as investors grappled with the implications of the weak jobs report and abandoned leading technology stocks. The broad index declined by 1.73%, while the Nasdaq Composite shed 2.55%. The Dow Jones Industrial Average fell 1.01%. Megacap tech stocks took a particularly hard hit as investors dumped risk assets amidst growing concerns about the US economy’s health.
Investors widely anticipate the Fed to lower interest rates by at least a quarter-percentage point at its upcoming policy meeting. However, the softening labor market trends have increased speculation that the central bank might opt for a more aggressive cut. Traders remain divided on whether the Fed will cut by a quarter- or half-percentage point.
Powered by Capital Market – Live News
Disclaimer: No Business Standard Journalist was involved in creation of this content
As per provisional closing data, the barometer index, the S&P BSE Sensex rose 375.61 points or 0.46% to 81,559.54. The Nifty 50 index added 84.25 points or 0.34% to 24,936.40.
The broader market underperformed the frontline indices. The S&P BSE Mid-Cap index fell 0.28% and the S&P BSE Small-Cap index declined 0.65%.
The market breadth was negative. On the BSE, 1,657 shares rose and 2,383 shares fell. A total of 141 shares were unchanged.
The NSE’s India VIX, a gauge of the market’s expectation of volatility over the near term, slipped 6.43% to 14.24.
New Listing:
Shares of Gala Precision Engineering closed at Rs 787.05 on the BSE, representing a premium of 48.78% as compared with the issue price of Rs 529.
The scrip was listed at Rs 750, exhibiting a premium of 41.78% to the issue price.
The stock has hit a high of 787.45 and a low of 721. On the BSE, over 2.97 lakh shares of the company were traded.
IPO Update :
The initial public offer (IPO) of Kross received 99,44,986 bids for shares as against 1,53,50,877 shares on offer, according to stock exchange data at 15:15 IST on Monday (09 September 2024). The issue was subscribed 0.65 times.
The issue opened for bidding on Monday (9 September 2024) and it will close on Wednesday (11 September 2024). The price band of the IPO is fixed between Rs 228 to Rs 240 per share. An investor can bid for a minimum of 62 equity shares and in multiples thereof.
The initial public offer (IPO) of Tolins Tyres received 1,02,67,554 bids for shares as against 74,88,372 shares on offer, according to stock exchange data at 15:15 IST on Monday (9 September 2024). The issue was subscribed 1.37 times.
The issue opened for bidding on Monday (9 September 2024) and it will close on Wednesday (11 September 2024). The price band of the IPO is fixed between Rs 215 to 226 per share. An investor can bid for a minimum of 66 equity shares and in multiples thereof.
The initial public offer (IPO) of Bajaj Housing Finance received 99,27,81,738 bids for shares as against 72,75,75,756 shares on offer, according to stock exchange data at 15:15 IST on Monday (9 September 2024). The issue was subscribed 1.36 times.
The issue opened for bidding on Monday (9 September 2024) and it will close on Wednesday (11 September 2024). The price band of the IPO is fixed between Rs 66 to 70 per share. An investor can bid for a minimum of 214 equity shares and in multiples thereof.
The initial public offer (IPO) of Shree Tirupati Balajee Agro Trading Company received 1,49,61,43,980 bids for shares as against 1,43,08,000 shares on offer, according to stock exchange data at 15:15 IST on Monday (9 September 2024). The issue was subscribed 104.57 times.
The issue opened for bidding on Thursday (5 September 2024) and it will close on Monday (9 September 2024). The price band of the IPO is fixed between Rs 78 to 83 per share. An investor can bid for a minimum of 180 equity shares and in multiples thereof.
Buzzing Index:
The Nifty FMCG index jumped 2.04% to 64,465.85. The index shed 0.88% in the past two consecutive trading sessions.
Godrej Consumer Products (up 5.66%), Hindustan Unilever (up 2.93%), United Spirits (up 2.9%), Dabur India (up 2.88%), United Breweries (up 2.73%), Varun Beverages (up 2.18%), ITC (up 1.99%), Britannia Industries (up 1.77%), Marico (up 1.65%) and Tata Consumer Products (up 1.59%) advanced.
On the other hand, Balrampur Chini Mills (down 2.05%) and Radico Khaitan (down 0.95%) edged lower.
Stocks in Spotlight:
Bajaj Finserv rose 0.33%. The company said that its subsidiary, Bajaj Allianz General Insurance Company’s gross direct premium underwritten for August 2024 was at Rs 1,736.23 crore, recording a growth of 3.48% year on year.
JSW Infrastructure added 1.55% after the companys board has approved the capacity expansion plan of the material subsidiaries, JSW Jaigarh Port and JSW Dharamtar Port.
Nazara Tech rose 0.41%. The gaming and sports media company announced that it has acquired 5,157 equity shares of Rs 10 each, representing 48.42% of the equity share capital of Paper Boat Apps, from its founding shareholders, Anupam Dhanuka and Anshu Dhanuka.
Suzlon Energy shed 0.55%. The company announced that it has bagged Indias largest wind energy order of 1166 MW from NTPC Green Energy (NGEL), the renewables arm of NTPC.
NIBE was locked in 5% upper circuit after the company announced the signing of an MoU with various entities for building and operating a private Earth Observation Constellation.
The entities that are a part of this consortium are Larsen & Toubro, Centum Electronics, Space Fields, SISIR Radar, CYRAN AI Solutions, AgniKul Cosmos, DV2JS Innovation, Thales Alenia Space and Thales India.
Mazagon Dock Shipbuilders declined 1.23%. The ship building company announced that it has received a notification of award of contract worth Rs 1,486.40 crore from Oil & Natural Gas Corporation (ONGC).
Spicejet jumped 4.13% after the company has entered into a term sheet with Carlyle Aviation Management (CAML) to restructure certain aircraft lease obligations of SpiceJet aggregating to $137.68 million as on 30 June 2024.
SML ISUZU slipped 0.79%. The company said that it has decided to increase the prices of its buses (all models) in the range of 1.0% to 1.5%, effective 01 October 2024.
Deep Industries was locked in 20% upper circuit after the company has received significant order from Oil and Natural Gas Corporation (ONGC) worth Rs 1,402 crore for production enhancement operations in mature field of the company’s Rajahmundry Asset.
Ion Exchange (India) advanced 1.05% after the firm received contracts from Tecnimont SpA, Italy for the hail & ghasha development project of ADNOC in UAE, totaling to approximately of Rs 168 crore.
Global Markets:
Europeans stocks advanced while most Asian stocks declined on Monday as selling pressure intensified, triggered by a weaker-than-expected US jobs report and the looming Fed meeting. Concerns about a slowdown in China and Germany further fueled the decline in stocks, which were already volatile due to anticipated Fed rate cuts.
The US non-farm payrolls increased by only 142,000 in August, falling short of the expected 165,000. This marked the lowest three-month average since mid-2020. Although the unemployment rate decreased to 4.2%, it was the first drop in five months.
In China, the consumer price index rose by 0.6% year-on-year in August, primarily due to declines in transportation, home goods prices, and rents.
Meanwhile, US markets suffered a significant setback on Friday. The S&P 500 experienced its worst week since March 2023, as investors grappled with the implications of the weak jobs report and abandoned leading technology stocks. The broad index declined by 1.73%, while the Nasdaq Composite shed 2.55%. The Dow Jones Industrial Average fell 1.01%. Megacap tech stocks took a particularly hard hit as investors dumped risk assets amidst growing concerns about the US economy’s health.
Investors widely anticipate the Fed to lower interest rates by at least a quarter-percentage point at its upcoming policy meeting. However, the softening labor market trends have increased speculation that the central bank might opt for a more aggressive cut. Traders remain divided on whether the Fed will cut by a quarter- or half-percentage point.
Powered by Capital Market – Live News
Disclaimer: No Business Standard Journalist was involved in creation of this content
