US market stabilizing! Today being the weekly expiry, Will Nifty consolidate?

Good Morning Everyone, Yesterday, Nifty created another record and closed at an all-time high, majorly driven by the PSU Banks, IT & Energy sector. Meanwhile, seems like now the US market is taking cues from the Indian market as US markets rose slightly after India set a record.


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Global Markets:


The Dow Jones Industrial Average rose 92.87 points, or 0.27%, to 34,670.44, the S&P 500 gained 11.10 points, or 0.25%, to 4,454.15 and the Nasdaq Composite lost 9.66 points, or 0.06 %, to 15,028.10.


Production by US factories, mines, and utilities in August surpassed the level seen before the pandemic, according to Federal Reserve data released Wednesday.

Industrial production increased 0.4 percent in August, but it could have been 0.3 percentage points higher had it not been for the effects of Hurricane Ida, which caused flooding and destruction in parts of Louisiana and the northeastern United States.


European shares slipped following losses in Asia following weak Chinese economic data. The benchmark STOXX 600 index was down 0.1 percent.


The Nikkei 225 in Japan slipped about 0.1% while the Topix index fell 0.15%. South


Indian Market:


Trends on the SGX Nifty indicates a flat start to the day today. I prefer a flat start as it does not give the opportunity to book profit at the opening, which might lead the market higher. But today being the weekly expiry, we surely will see some great deal of volatility and might lead to some selling, but Bulls are still not weak yet! Lets keep a watch!


The government cleared a production-linked incentive (PLI) scheme for the automobile sector and announced a relief package for the telecom sector, announcing a moratorium of 4 years on Adjusted Gross Revenue (AGR) dues, on Wednesday, which led to the sudden move in the sectors.


Sansera Engineering's initial public offering (IPO) has been subscribed 1.1 times so far on Wednesday, the second day of the bidding process. The Bengaluru-based auto component maker's IPO, estimated at Rs 1,283 crore, will close for subscription on Thursday, September 16.


FII and DII data:


Foreign institutional investors (FIIs) net bought shares worth Rs 232.84 crore, while domestic institutional investors (DIIs) net purchased shares worth Rs 167.67 crore in the Indian equity market on September 15.


Stock Specific News:


TCS | The country's largest software exporter crossed the $200 billion milestone in market cap on September 15, marking a new high for the software services provider, as it continues to see robust growth.


Zen Technologies | Logical Solutions sold 4 lakh equity shares in the company at Rs 237.4 per share on the NSE, the bulk deals data showed.


Inox Wind | Inox Wind Energy sold 13,85,812 equity shares in the company at Rs 105.22 per share on the BSE, the bulk deals data showed.


Gabriel India | HDFC Asset Management Company acquired 2.02 percent stake in the company via open market transaction on September 14, increasing shareholding to 7.04 percent from 5.02 percent earlier.


Wipro | The company has secured a multi-year contract from Kuala Lumpur-based Maxis Broadband Sdn Bhd.


Hindustan Copper | The government will sell up to 10 percent stake in the company through an offer for sale (OFS) at Rs 116 per share. The OFS shall take place on September 16 and 17.


Infosys | The company announced a strategic collaboration with SAP to provide business process transformation-as-a-service to enterprises.


Tata Group Companies | Tata Sons, the holding entity of Tata group, has reportedly dismissed reports of the company mulling over changes in its leadership structure.


JSW Energy | JSW Renew Energy Two, a project special purpose vehicle formed by JSW Energy’s wholly-owned subsidiary, has signed power purchase agreements with Solar Energy Corporation of India.


Cholamandalam Investment and Finance Company | The company will make a strategic investment in Paytail Commerce of a sum not exceeding Rs 9.75 crore.


Embassy Office Parks REIT | Blackstone Group has trimmed its stake in the real estate investment trust through block deals in the open market on Wednesday.


Fineotex Chemical | The company has entered into a strategic pact with the Belgium-based Eurodye-CTC to commercialise specialty chemicals for the Indian market.


HG Infra Engineering | The company has received the Letter of Award from the National Highways Authority of India for two Hybrid Annuity Model projects for a total of Rs 1,409.22 crore.


Poonawalla Fincorp | SEBI passed an interim order banning the company’s Managing Director Ajay Bhutada and seven others from the securities market after they were found guilty in an insider trading case.


Gujarat Gas | CARE Ratings reaffirms ‘AA+’ rating on the company and revised the outlook to ‘positive’ from ‘stable’.


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