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US markets fall, Asian markets mixed, Positive cues in India, Is the pressure building up?

Good Morning, Everyone, The Nifty opened with a gap up and fell after touching another all-time high, however, could not sustain due to weakness in the Index heavyweights, HDFC Bank & Reliance. But if you look at the overall portfolio, it has been going green as the broader market did rise yesterday.

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Global Markets:

US consumer prices rose a lower-than-expected 0.3 percent in August, the smallest increase in seven months and a hopeful sign that inflation pressures may be cooling. The August gain fell from a 0.5 percent increase in July and a 0.9 percent surge in June, the Labor Department reported Tuesday. It was the smallest increase since a similar 0.3 percent rise in January.

The Dow Jones Industrial Average fell 292.06 points, or 0.84 percent, to 34,577.57; the S&P 500 lost 25.68 points, or 0.57 percent, at 4,443.05; and the Nasdaq Composite dropped 67.82 points, or 0.45 percent, to 15,037.76.

Shares in Asia-Pacific were lower this morning trade following losses overnight on Wall Street, with investors reacting to the release of Chinese economic data. Mainland Chinese stocks fell, with the Shanghai composite down about 0.3 percent. Hong Kong’s Hang Seng index dropped 1.44 percent. The Nikkei 225 in Japan declined 1.05 percent. South Korea’s Kospi shed 0.28 percent. In Australia, the S&P/ASX 200 fell 0.51 percent. MSCI’s broadest index of Asia-Pacific shares outside Japan traded 0.85 percent lower.

Indian Market:

Trends on the SGX Nifty indicate a small gap up to flat opening of the Nifty today close to 17400, but as I told you yesterday, The Nifty has to close the day above 17400 to start its upward movement for now.

The wholesale price-based inflation rose marginally to 11.39 percent in August, mainly due to higher prices of manufactured goods, even as prices of food articles softened.

India's exports rose by 45.76 percent to USD 33.28 billion in August, as against USD 22.83 billion in the same month last year, according to commerce ministry data released on Tuesday.

FII and DII data

Foreign institutional investors (FIIs) net bought shares worth Rs 1,649.60 crore, while domestic institutional investors (DIIs) net sold shares worth Rs 310.31 crore in the Indian equity market on September 14

Stock Specific News:

Zee Entertainment Enterprises | Rakesh Jhunjhunwala’s Rare Enterprises bought 50 lakh shares of the media company at Rs 220.4 per share through a bulk deal on the NSE. Separately, BofA Securities also reportedly bought 48.6 lakh shares of the company at Rs 236 per share. The media company’s stock has skyrocketed 40 percent after top investors of the company called a shareholder meeting for a management reshuffle.

Shree Cement | The company’s board of directors approved the setting up of an integrated cement plant at Nawalgarh, Rajasthan, and solar power plants at various locations to meet the captive requirement of the cement plants of Shree Cement for an investment of around 4,000 crores.

Dynacons Systems & Solutions | The company bagged a major order worth Rs 7.46 crore for information technology and the Internet of Things for the Disaster Management Department of MCGM, Mumbai.

Manappuram Finance | Fitch affirms the company’s rating at 'BB-' and outlook ‘stable’.

LIC Housing Finance | Life Insurance Corporation of India’s stake in the company increased to 45.239 percent from 40.313 percent after preferential allotment.

Shriram Transport Finance | Fitch Revises the outlook on the company to 'stable' and affirms rating at 'BB’.

Muthoot Finance | Fitch affirms the company’s rating at 'BB' and outlook ‘stable’.

Jindal Steel & Power Ltd | Crisil upgraded the company’s rating to ‘A+’ from ‘A-’ and also upgraded outlook to ‘positive’ from ‘stable’.

Tata Steel | Moody's Investors Service has upgraded the corporate family rating of Tata Steel to ‘Ba1’ from ‘Ba2’. The rating outlook remains stable.

Zota Healthcare | The company reportedly received product registration licenses for ten products from Turkmenistan.

Telecom stocks | The sector has been desperately waiting for the government to announce a relief package. However, most relief likely to be granted will be prospective, and any cut in spectrum user fee or bank guarantee is unlikely.

Rana Sugars | The company has divested 10 percent equity investment in Karimganj Biofuels by the way of transfer of its shares.

Ami Organics | Vanaja Sundar acquired 5 lakh shares of the specialty chemical company at Rs 910 per equity share and Vanaja Sundar Iyer bought 4 lakh shares at Rs 909.97 per share on the NSE, the bulk deals data showed.

HCL Tech | The company has expanded its partnership with Finastra for tech solutions in South Korea, Taiwan.

Setco Automotive | 16.25 percent stake pledged by promoter entity Setco Engineering against the loan taken has been released.

Liberty Shoes | Investor Seetha Kumari sold a 2.57 percent stake in the company via open market transactions, reducing shareholding to 2.73 percent from 5.3 percent earlier.

Power Finance Corporation | UBS Group AG increased its stake in the company to 5.67 percent from 3.4 percent earlier, through a rights issue.


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