US & Indian market leads the world with record highs. Will Nifty continue to rise?

Good Morning Everyone, Nifty again hit record highs yesterday and the same thing happened in the US after the Indian market closed. With Nifty at these high levels, it's always good to book our profits and enter only stocks which are at lower levels as there is always fear and expectation of a short-term fall or a correction.


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Global Markets:


As told earlier, In the US, The Dow Jones Industrial Average rose 131.29 points, or 0.37%, to 35,443.82, the S&P 500 gained 12.86 points, or 0.28%, to 4,536.95 and the Nasdaq Composite added 21.80 points, or 0.14%, to 15,331.18. The wait is on for the US employment data, which may release today and might affect the market, but the Indian market will see the effect only on Monday. Data on Thursday showed the number of Americans filing new claims for jobless benefits fell last week, although the focus will be on the Labor Department's monthly jobs report on Friday to set the stage for the Fed's policy meeting later this month.


Asian Indices were trading mixed with Kospi and Taiwan Weighted up 0.5 percent each, while Hang Send and Straits Times trading in the red.


China will set up a new stock exchange in the capital Beijing, President Xi Jinping said Thursday, as the country tries to lure domestic companies into listing at home instead of overseas.

The nation currently has two main exchanges in Shanghai and Shenzhen.


Indian Markets:


Trends on the SGX Nifty indicate yet another flat opening to Nifty. 16100 & 16000 will act as a resistance for the day, if it falls lower, we might see short-term profit booking kicking in.


Owing to an uptick in global orders, India's merchandise exports shot up in August, rising by a major 45.17 percent as compared to August 2020. Impressively, exports also rose by 27.5 percent as compared to August 2019, before the pandemic struck.


HDFC Life is in discussion to buy Exide Life at a ₹5,000 crore valuation. There is tough competition in the life cover sector with more consolidation is happening. There is a rise in people going for life cover after the outbreak of the pandemic. HDFC Life is the country’s largest private-sector insurer and the acquisition will help them to expand businesses.


The mega plan of the central government to kick start its ₹6 trillion monetization program may start with GAIL pipelines. GAIL (India) Ltd has around 2,229 km of gas pipelines that can be leased out to the private sector, now. The plan is to monetize 8,154km of such pipelines.

The pipelines have got the biggest demand from private investors. The process has already been started by the government for this purpose. An infrastructure investment trust (InvIT) may be launched.


FII and DII data


Foreign institutional investors (FIIs) net bought shares worth Rs 348.52 crore, while domestic institutional investors (DIIs) net purchased shares worth Rs 381.70 crore in the Indian equity market on September 2.


Stock Specific News:


Reliance Industries | The company’s subsidiary Reliance Retail Ventures has acquired sole control of Just Dial and now holds 40.98 percent in the co.


Kaveri Seed Company | The company acquired 3,19,144 equity shares of itself at Rs 583.78 per share on the NSE, the bulk deals data showed.


McDowell Holdings | Recovery Officer I DRT (Debt Recovery Tribunal) II sold 1,10,561 equity shares in the company at Rs 37.75 per share on the NSE, the bulk deals data showed.


Asian Paints | Promoter entity Sudhanva Investments & Trading released a pledge on 10.99 lakh equity shares on the closure of the loan.


PNB Housing Finance | SEBI has filed an appeal with Supreme Court against Securities Appellate Tribunal (SAT)’s split verdict in the PNB Housing-Carlyle deal case. The company said it is examining the appeal filed by SEBI.

Granules India | The company has received a license from Defence Research & Development Organisation (DRDO) to manufacture and market COVID-19 treatment drug, 2- Deoxy-D-Glucose (2-DG).


Jammu & Kashmir Bank | The bank approved raising of equity share capital up to Rs 1,000 crore in one or more tranches, and Rs 1,000 crore by way of non-convertible debentures on a private placement basis.


Rossari Biotech | The company has completed the acquisition of the first tranche of 76 percent of Tristar Intermediaries.


GOCL Corporation | The company completed the acquisition of APDLE Estates from Hinduja Realty Ventures.


NHPC | The company has completed the renovation and modernisation of the 180 MW Baira Siul Power Station in Himachal Pradesh.


IRB Infrastructure Developers | The company has emerged as a preferred bidder for Chittoor - Thachur Six Laning Highway Hybrid Annuity Project in Tamil Nadu.


Goodluck India | The company has been awarded a Letter of Intent (LoI) for an order worth Rs 198.76 crore by L&T Ltd for the Bullet Train project in the country.


Salzer Electronics | The company has incorporated a joint venture Salzer Emarch Electromobility to make electric conversion kits for auto-rickshaws, cars, and buses and also manufacture novel electric-driven utility vehicles and other allied activities.


SH Kelkar and Company | The company has restarted operations and production activities at its Mahad unit in a calibrated manner.


Wockhardt | Promoter entity Themisto Trustee Company created a pledge on 12.4 lakh equity shares. With this, the percent of pledged shares now increased to 28.40 percent.







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