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

A late recovery on Wall Street took U.S. stocks higher ahead of U.S. jobs report on Friday, which would possibly hint at the extent of hawkishness of the Federal Reserve at its meeting later this month. The S&P 500 snapped its losing streak on Thursday while the Nasdaq 100 finished the day flat. Treasuries slumped with the two-year yield rising to the highest in almost 15 years. The dollar surged to a record high while Brent Crude fell to $92 per barrel. Asian stocks mostly held their ground Friday. At 6:50 am, the Singapore-traded SGX Nifty–an early barometer of India’s benchmark Nifty 50–traded 0.27% higher at 17,616.50 points. India’s stock benchmarks declined on Thursday, dragged by losses in energy, information technology and metal stocks. The fall in energy and oil & gas stocks followed government’s decision to hike windfall tax on diesel, crude and ATF exports. The local currency closed lower against the U.S. dollar after a volatile session.

Economic Calendar:

  • USD : : Nonfarm Payrolls (Aug) on 02nd Sep, 2022
  • USD : Unemployment Rate (Aug) on 02nd Sep, 2022
  • INR : Trade Balance on 02nd Sep, 2022
  • INR : Nikkei Services PMI (Aug) on 05th Sep, 2022

Who’s Meeting Whom:

Jindal Stainless: To meet analysts and investors on September 2.

Safari Industries: To meet analysts and investors on September 2. To meet investors and analysts on September 2.

Coal India: To meet analysts and investors on September 5.

Brokerage Radar:

MS ON SBI CARDS: OW, TP Rs. 1,100; Co’s new cashback card could have a wide customer appeal with its simplicity, flexibility & transparency; Assess that cashback costs could be recouped by saving certain costs & higher interest earning opportunities

MS ON MCX: UW, TP Rs 1,300; Average daily traded value (ADTV) is a key driver of MCX’s profits & share price; In Aug 2022, ADTV (futures + 45%*options) was flat MoM at Rs364bn; MCX stock down 7.7% during the month, while Sensex was up 3.4%

NOMURA ON BHEL: Upgrade to Neutral, TP Raised to Rs 65; Est a near-term tender pipeline of 9.4GW, with another 9.4GW in medium term, can lead to revival in ordering potentially to 5-7GW pa over FY23-25F

International Markets:

U.S & Europe:

Particulars 01st     September Chg. Chg.(%)
Nasdaq 11785.13 -31.07 -0.26
Dow 31656.42 145.99 0.46
FTSE 7148.50 -135.65 -1.86
CAC 6034.31 -90.79 -1.48
DAX 12630.23 -204.73 -1.60
Dow Fut.* 31601.1 -55.30 -0.17

Asian markets:

Particulars 02nd  September Chg. Chg.(%)
SGX Nifty 17569.5 1.00 0.01
Nikkei 27604.37 -57.10 -0.21
Straits Times 3211.12 -12.96 -0.40
Hang Seng 19448.54 -148.77 -0.76
Shanghai 3187.79 2.81 0.09

ADR Watch:

Particulars  01st September  Chg.  Chg.(%)
Dr. Reddy 53.05 0.76 1.45
HDFC Bank 61.77 0.72 1.18
ICICI Bank 21.95 0.11 0.50
Infosys 18.42 0.12 0.66
Tata Motor 29.26 0.26 0.90
Wipro 5.08 0.07 1.40

Commodities & Currency:

Particulars Current Price Chg.(%)
USD/INR 79.56 0.13
Brent 93.56 1.30
Gold 1709.05 -0.01
Silver 17.683 0.10

FIIs & DIIs:

Particulars 01st  September 30th August
FIIs                           -2290.31 4165.86
DIIs 951.13  -656.72

News Update:

Infosys: Completed acquisition of Europe based consulting firm BASE life science. BASE further expands Infosys’ footprint in the Nordics region and will bring domain experts with commercial, medical, digital marketing, clinical, regulatory, and quality knowhow.

Adani Enterprises/NDTV: Adani Enterprises, in response to NDTV’s promoter company RRPRs letter claiming that Income Tax Department approval is needed for deal, said that it has “no merit or basis in law or in fact.” VCPL called upon RRPR withdraw the letter and execute the conversion of warrants.

Adani Enterprises/Shree Cement: The National Stock Exchange has included Adani Enterprises Ltd. in its Nifty 50 index, while removing Shree Cement Ltd. in the semi-annual rejig.

GMR Power & Urban Infrastructure: Approved for raising of funds of up to Rs 3000 crore in one or more tranches through issue of securities including a Qualified Institutions Placement and/or Foreign Currency Convertible Bonds and/or any other securities.

NTPC: The co. is considering selling 20% stake of its clean energy unit, Bloomberg reported. Brookfield Asset Management Inc. and Canada Pension Plan Investment Board are among 13 suitors that have shown interest, the report added.

Eicher Motors: The company’s total motorcycle sales rose 53% year-on-year to 70,112 units in August.

 Source: Moneyontrol, Livemint,, Bloomberg, Investing

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