View on market: Stay Cautious, be with quality business:

US equity futures fell Monday and stocks in Asia are off to a weak open after Federal Reserve Chair Jerome Powell’s comments flagging the need for restrictive monetary policy for some time to tackle rise in inflation. At the Jackson Hole annual economic symposium, Powell issued warning of potential economic pain for households and businesses. Nasdaq 100 and the S&P 500 futures lost over 1%, while equities in Japan and Australia fell into the red. At 5:35 am, the Singapore-traded SGX Nifty–an early barometer of India’s benchmark Nifty 50–traded 1.22% lower at 17,444 points. Gold and Bitcoin declined but crude oil was little changed at just above $93 a barrel. Back home, India’s stock benchmarks snapped five-week winning streak, dragged by losses in information technology and pharma stocks on Friday. The local currency appreciated by 1 paise against the U.S. dollar.

Economic Calendar:

  • USD : JOLTs Job Openings (Jul) 29th Aug, 2022
  • USD : FOMC Member Williams Speaks 29th Aug, 2022
  • INR : Federal Fiscal Deficit (Jul) 31st Aug, 2022
  • INR : GDP Quarterly (YoY) (Q1) 31st Aug, 2022

Q1FY23 Result Today: Procter & Gamble Health

Who’s Meeting Whom:

GOCL Corporation: To meet analysts and investors on August 29.

Brokerage Radar:

MS ON SBI CARDS: OW, TP Rs. 1,100; Monthly spending in July for industry up 6.5% MoM/55% YoY; For SBIC it was up 2.8% MoM/35% YoY; Daily spending data from RBI (indicative but not comprehensive) suggests sustained strength in spending into August

NOMURA ON AEGIS LOGISTICS: Buy, TP Rs 433; Higher margin distribution sales on upswing; Sustained distribution growth & new growth opportunities arising from Vopak JV are catalysts; LPG logistics vol to pick up from 2HFY23F; Rising global LNG prices provides clear opportunity

CLSA ON RIL: Buy, TP Rs 3,180; It won approval for production incentives from govt & started building an integrated Giga factory even as its JV with BP takes its first steps Upcoming AGM may specify steps in co’s plan to become an integrated new energy player

International Markets:

U.S & Europe:

Particulars      26th August Chg. Chg.(%)
Nasdaq 12141.71 -497.56 -3.94
Dow 32283.4 -1008.38 -3.03
FTSE 7427.31 -52.43 -0.70
CAC 6274.26 -107.30 -1.68
DAX 12971.47 -300.49 -2.26
Dow Fut.* 32054.2 -229.20 -0.71

Asian markets:

Particulars      29th August Chg. Chg.(%)
SGX Nifty 17291 -368.00 -2.08
Nikkei 27851.68 -789.70 -2.76
Straits Times 3216.95 -32.58 -1.00
Hang Seng 20009.79 -160.25 -0.79
Shanghai 3226.29 -9.93 -0.31

ADR Watch:

Particulars     26th August  Chg.       Chg.(%)
Dr. Reddy 52.05 -1.11 -2.09
HDFC Bank 61 -1.75 -2.79
ICICI Bank 21.43 -0.49 -2.24
Infosys 18.64 -0.54 -2.82
Tata Motor 28.58 -0.62 -2.12
Wipro 5.06 -0.14 -2.69

Commodities & Currency:

Particulars Current Price Chg.(%)
USD/INR 79.87 -0.02
Brent      100.16 1.16
Gold           1738.05    -0.67
Silver       18.462 -1.51

FIIs & DIIs:

Particulars 26th August 25th August
FIIs                                  -51.12       369.06
DIIs        453.59      -334.31

News Update:

Reliance Industries: RIL to hold 45th Annual General Meeting. The meeting will start at 02:00 PM IST on August 29, with addresses and presentations expected from Chairman Mukesh Ambani and other members of the company’s board and subsidiaries. Analysts think this year, the focus may be on the consumer retail business once again.

Ultratech: The company commissioned cement capacity of 1.3 MTPA at Dalla Cement Works, Uttar Pradesh taking the company’s total cement manufacturing capacity in India now stands at 115.85 MTPA.

RITES: The company secured order with for redevelopment of Kollam Railway Station for Rs. 361.18 crores from Southern Railway, Ernakulam, Kerala. The company’s share in the order is 51%.

SRF: The company commissioned second BOPP Film Line & Metallizer at Indore for an aggregate cost of Rs 446 crore.

Cipla: Says U.S. FDA made six observations on Goa facility. Company is working with U.S. FDA to address the issues within stipulated time.

Mahindra & Mahindra: Says SsangYong Motor ‘Rehabilitation Plan’ approved.

Manappuram Finance: To consider raising funds via debt in September.

NDTV: Shifts AGM date to September 27 from September 20.

Syngene International: To buy up to 26% stake in O2 renewable energy II for Rs 3 crore.

Tata Steel: Signs pact with Punjab for long-PDTS steel plant, to have scrap-based electric arc furnace.

Source: Moneyontrol, Livemint,, Bloomberg, Investing

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