US market rebound after the last week's fall! Will Nifty rise again?

Good Morning Everyone, After the huge buying in the Nifty yesterday, by end of the day, we could see the Nifty forming a hammer, which means the bulls are trying to come back. So do we see the Nifty coming back to power after so many days of consolidation?

Like I always say the market cannot consolidate for many days, it will either break out or break down! But with the general cues that are positive, we could believe the market is bullish if it closes above 17400 today!

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Global Market:

US government bond yields dipped on Monday with markets looking ahead to consumer inflation data on Tuesday that is expected to show a continuing slowdown in the pace of price increases.

The Dow Jones Industrial Average rose 261.91 points, or 0.76%, to 34,869.63, the S&P 500 gained 10.15 points, or 0.23%, at 4,468.73 and the Nasdaq Composite dropped 9.91 points, or 0.07%, to 15,105.58.

European markets started Monday's session stronger as investors hoped that a strong eurozone economic recovery would outweigh risks from a global slowdown. The pan-European STOXX 600 index was last seen trading 0.4 percent higher, rebounding from last week's three-week low.

Shares in Asia-Pacific were mixed in Tuesday morning trade as investors look ahead to the release of U.S. consumer inflation data for August.

The Nikkei 225 in Japan rose 0.8% while the Topix index advanced 0.66%. South Korea’s Kospi gained 0.83%.

Indian Market:

Trends on the SGX Nifty indicate a positive open with a gap-up opening slightly above 17400. Like we discussed earlier, I would be bullish again if the Nifty closes above 17400.

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, data released by the National Statistical Office (NSO) showed on September 13. Consumer Food Price Inflation (CFPI) for August stood at 3.11 percent compared to 3.96 percent in July.

FII and DII data

Foreign institutional investors (FIIs) net bought shares worth Rs 1,419.31 crore, while domestic institutional investors (DIIs) net sold shares worth Rs 559.59 crore in the Indian equity market on September 13

Stock Specific News:

Ami Organics, Vijaya Diagnostic Centre | The shares of Ami Organics and Vijaya Diagnostic Centre will make their debut on the exchanges today.

ZEEL | Manish Chokhani and Ashok Kurien have resigned from the position of Non-Executive Non-Independent Directors of the firm with immediate effect. Its largest shareholders, Invesco Developing Markets Fund and OFI Global China Fund LLC have called an extraordinary general meeting (EGM) seeking the removal of Punit Goenka, Manish Chokhani, and Ashok Kurien as Directors of the firm.

Infosys | The company has bought back over 5.58 crore equity shares as part of its about Rs 9,200 crore buyback offer. The shares were bought back at a volume-weighted average price of Rs 1,648.53 per equity share.

Wipro | The company has partnered with Tennessee-based First Horizon Bank (FHN) to provide services to VirtualBank, an established digital bank.

Ceat | The company has signed a Limited Liability Partnership (LLP) Agreement with Harshvardhan Ravi Goenka and Yellowstone Clean Energy LLP, for making an investment of up to Rs 60 lakh, in one or more tranches in Cleanwin Energy Five LLP, on such terms and conditions as prescribed therein to acquire 26 percent of the capital of the LLP.

KNR Constructions | The company received a Letter of Acceptance for Hyderabad Growth Corridor (HGCL) worth Rs 312.79 crore which is to be completed within a period of 15 months from the date of signing of the agreement.

Dilip Buildcon | The company’s subsidiary Bangalore Malur Highways has received the letter of the appointed date from the National Highways Authority of India.

Gujarat State Petronet | Pankaj Kumar has been appointed as the Chairman & MD of the company w.e.f September 8, 2021.

Redington (India) | The company’s step down subsidiary Arena Bilgisayar Sanayi Ve Ticaret A.S. Turkey will acquire a 100 percent stake of Brightstar Telekomünikasyon Dagitim Ltd. Sti, for $35 million

DCM Shriram | The company will acquire a balance 50 percent stake of joint venture Shriram Axiall (SAPL) from Axiall LLC USA.

Amber Enterprises India | The company has invested $100,000 in Amber Enterprises USA Inc. and has been allotted 100,000 common stock at a par value of $1 per share.


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