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US markets recovering after a fall, Asian markets weak, Can Nifty withstand the highs?

Good Morning, Everyone, Today the market opens after a day's holiday but lots of action happened in the last 2 days across the globe as global markets were open yesterday.


Global Markets:


US market fell on Wednesday after our markets closed as FED Reserve has announced that it is finally tapering down its support to the economy as the economic situations are improving across. This could also mean that other central banks too can start taking similar actions and hence we could see a big fall in USA market and other global markets as well.


After the fall on Wednesday, the markets recovered in the US yesterday, The Dow Jones Industrial Average fell 66.57 points, or 0.19%, to 34,894.12, the S&P 500 gained 5.53 points, or 0.13%, to 4,405.8 and the Nasdaq Composite added 15.87 points, or 0.11%, to 14,541.79.


The number of people seeking unemployment benefits fell last week for a fourth straight time to a pandemic low, the latest sign that America's job market is rebounding from the pandemic recession as employers boost hiring to meet a surge in consumer demand. The Labor Department reported Thursday that jobless claims fell by 29,000 to 348,000. The four-week average of claims, which smooths out week-to-week volatility, also fell — by 19,000, to just below 378,000, also a pandemic low.


Shares in Asia-Pacific mostly fell in Friday trade as China left its benchmark lending rate unchanged. Mainland Chinese stocks fell as the Shanghai composite declined about 1% and the Shenzhen component slipped 1.013%. Hong Kong’s Hang Seng index shed dropped 1.18%.

The Nikkei 225 in Japan fell 0.74% in morning trade while the Topix index shed 0.5%.


Indian Market:


Trends on the SGX Nifty indicate gap down opening today, at around 50 points down from Wednesday's close.


Leading multi-channel auto platform CarTrade Tech is expected to make a decent debut on the bourses considering its business model, the first-mover advantage in the sector, and future growth prospects. Equity shares will list on the BSE and NSE today.


USD has touched its 9-month peak, which could help shares of companies involved in exports to benefit today.


FII and DII data

Foreign institutional investors (FIIs) net sold shares worth Rs 595.32 crore, while domestic institutional investors (DIIs) net offloaded shares worth Rs 729.49 crore in the Indian equity market on August 18


Stock Specific News:


CarTrade Tech | The company will list its equity shares on bourses today. The final issue price has been fixed at Rs 1,618 per share. HDFC Bank | The bank has raised $1 billion by the issuance of Additional Tier 1 bonds in the overseas markets. The AT1 bonds were dollar-denominated, Basel III compliant, and priced at 3.70 percent, 42.5 basis points lower than the initial price guidance, it said


Zomato | The company acquired 9.16 percent shareholding in Grofers India for Rs 518.21 crore and 8.94 percent shareholding in Hands-on Trades for Rs 222.83 crore.


InterGlobe Aviation | IndiGo has resumed flight services to the United Arab Emirates (UAE).



Ujjivan Small Finance Bank | The bank’s Managing Director and CEO Nitin Chugh has tendered his resignation citing personal reasons w.e.f. close of business hours on September 30, 2021.


Tata Elxsi | The company has partnered with DStv Media Sales, to consult and collaboratively build a vision for DStv Media Sales (DMS) that addresses current challenges while also positioning DMS for future growth.


Indian Bank | SL Jain, currently ED at Bank of Baroda, has been appointed as the new MD & CEO of Indian Bank for 3 years.


BSL Ltd | LIC of India sold 68,589 equity shares of the company at Rs 61.06 per share on the NSE.


Clean Science & Technology | Plutus Wealth Management LLP acquired 5.75 lakh equity shares of the company at Rs 1,518.42 per share on the NSE.


Coffee Day Enterprises | KKR Mauritius PE Investments II sold 19,03,533 equity shares of the company at Rs 29.45 per share on the NSE.


McDowell Holdings | Recovery Officer I Debt Recovery Tribunal II sold 88,458 equity shares of the company at Rs 42.84 per share on the NSE.


Suryoday Small Finance Bank | Kuber India Fund acquired 20 lakh equity shares of the company at Rs 166.74 per share. TVS Shriram Growth Fund sold 20,50,055 equity shares at Rs 166.92 per share on the NSE


Karda Constructions | Elara India Opportunities Fund bought 6.5 lakh shares of the company at Rs 22.6 per share on the BSE.


Reliance Industries | The company has taken shutdown of its manufacturing units at Nagothane, Maharashtra to assure reliability and integrity of operations. Product supplies to customers will continue through available stocks and diverting from other manufacturing sites. Complex is expected to be back into normal operation from August 25.


Mahindra & Mahindra Financial Services | The company has approved the appointment of Mallika Mittal as the Chief Risk Officer for a tenure of five years.


Crest Ventures | The company has agreed to acquire by way of preferential allotment, 1,11,35,857 equity shares (5.12 percent of the post-issue equity share capital) of Vascon Engineers.


Anuh Pharma | ICRA revised the long-term rating to A- from BBB+.


Indostar Capital Finance | Promoters to sell up 61,89,737 equity shares of the company on August 20 and August 23 via offer for sale issue.


Meghmani Finechem | The company reported a consolidated profit of Rs 36.95 crore in Q1 FY22 against Rs 32.79 crore in Q4 FY21. Revenue rose to Rs 290.34 crore from Rs 258.54 crore YoY.


Aavas Financiers | Partners Group ESCL Ltd, Partners Group Private Equity (Master Fund) LLC will sell 22.72 lakh shares of the company at a floor price of Rs 2,450 per share via a block deal.


CG Power and Industrial Solutions | The company approved a proposal for the voluntary winding up of CG Middle East FZE, a non-operating step-down subsidiary and CG International (Holdings) Singapore Pte. Ltd, a wholly-owned subsidiary of the company. The company also approved the closure of one of its non-operating subsidiaries, CG Power Solutions (PSOl), under the provisions of the Insolvency and Bankruptcy Code.


Prime Focus | Novator Capital Advisers, LLP has invested $250 million in subsidiaries of Prime Focus, and personal holdings of its founder Namit Malhotra.


Kennametal India | The company reported consolidated profit at Rs 21.6 crore in Q1FY22 against a loss of Rs 9.5 crore in Q1FY21. Revenue jumped to Rs 211.9 crore from Rs 95.6 crore YoY.





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