Asian stocks, bonds and currencies tumbled after a broad-based selloff on Wall Street followed a hotter-than-expected US inflation data. The high inflation has triggered expectations of jumbo interest-rate hikes by the Federal Reserve.
Equities in Japan, Hong Kong and Australia slumped after US shares had their biggest drop in more than two years. The S&P 500 lost over 4% and the Nasdaq 100 fell over 5%.
At 7:25 am, the Singapore-traded SGX Nifty--an early barometer of India's benchmark Nifty 50--traded 1.83% lower at 18,760 points.
Elsewhere, West Texas Intermediate crude was little changed at $87.33 per barrel. Bitcoin fell 10% overnight--the biggest decline since June.
Stocks To Watch
Infosys: The Bengaluru-based IT firm, along with Palo Alto Networks, has struck a digital transformation deal with Belgium Post.
Bharat Forge: Kalyani Powertrain and Harbinger Motors have set up a joint venture to manufacture electric powertrains for medium-duty commercial vehicles.
JSW Steel: The company has signed a memorandum of understanding with Germany's SMS Group for decarbonisation projects at various JSW Steel plants in India.
Ambuja Cements: The company will consider a proposal for raising of funds by way of issue of equity shares or any other means on Sept. 16.
Hatsun Agro Products: The company will consider fundraising by way of issue of equity Shares or a rights Issue on Sept. 19.
Bajaj Holdings: The company has approved an interim dividend of Rs 110 per share of face of Rs 10 each.
KEC International: The company has secured new orders of Rs 1,108 crores across its various businesses.
Tata Steel/Tata Power: Tata Steel and Tata Power Renewables are planning to raise as much as Rs 1,200 crore and Rs 1,000 crore via bonds, Bloomberg reported.
Neuland Laboratories: Chief Financial Officer Deepak Gupta has resigned. He will continue to hold the position till Oct. 13.
Pledge Share Details
Asahi India Glass: Promoter & Director Brij Mohan Labroo revoked a pledge of 72,568 shares on Sept. 10.
Emami: Promoter Group Sneha Enclave created a pledge of 33.34 lakh shares on Sept. 8 and revoked a pledge of 17.25 lakh shares between Sept. 8 and Sept. 12.
Insider Trades
Vaibhav Global: Promoter Group Brett Enterprises bought 4,000 shares on Sept. 12.
Geojit Financial Services: Promoter Group BNP Paribas SA sold 2.8 lakh shares on Sept. 9.
Sasken Technologies: Promoter Group Arti Mody bought 6,986 shares between Sept. 9 and Sept. 12.
Authum Investment & Infrastructure: Promoter Group Mentor Capital bought 2.28 lakh shares on Sept. 12.
Star Cement: Promoter & Director Prem Kumar Bhajanka bought 50,000 shares on Sept. 9.
Bulk Deals
Coffee Day Enterprise: MC Jain Infoservices bought 18 lakh shares (0.85%) at Rs 58.37 apiece.
HDFC Life Insurance: Abrdn (Mauritius Holdings) 2006 Ltd. sold 4.3 crore shares (2.03%) at Rs 574.15 apiece.
Block Deals
HDFC Life Insurance: SBI Life Insurance bought 16 lakh shares (0.08%) at Rs 574.15 apiece.
Who’s Meeting Whom
J.K. Cement: To meet investors and analysts on Sept. 20.
Nuvoco Vistas: To meet investors and analysts on Sept. 14.
Kalyan Jewellers: To meet investors and analysts on Sept. 14-16.
Asian Paints: To meet investors and analysts on Sept. 14-20.
Adani Transmission: To meet investors and analysts on Sept. 14.
ICICI Bank: To meet investors and analysts on Sept. 14.
Hero Motocorp: To meet investors and analysts on Sept. 15, 20-21.
Mallcom (India): To meet investors and analysts on Sept. 15.
Oriental Aromatics: To meet investors and analysts on Sept. 15.
UltraTech Cement: To meet investors and analysts on Sept. 14.
Greenply Industries: To meet investors and analysts on Sept. 15.
Sansera Engineering: To meet investors and analysts on Sept. 14.
AGMs Today
Chalet Hotels
Dhampur Sugar Mills
Dharamsi Morarji Chemical
Jagsonpal Pharmaceuticals
Johnson Controls-Hitachi Air Conditioning India
Lemon Tree Hotels
Mastek
Offerings
Harsha Engineers: IPO to open today. Firm raised Rs 226 crore from anchors by allotting shares at Rs 330 apiece.
Trading Tweaks
Price Band Revised From 10% To 5%: Reliance Infrastructure, Reliance Power, Sanghi Industries, Tata Teleservices (Maharashtra)
Price Band Revised From 20% To 5%: Jupiter Wagons, Kingfa Science and Technolgy (India), Spandana Sphoorty Financial, Titagarh Wagons, Zee Media Corporation
Ex-Date Final Dividend: Amrutanjan Health Care, Grauer & Weil India, Hikal, Indoco Remedies, Kabra Extrusion Technik, OnMobile Global, RHI Magnesita India, Sadhana Nitro Chem, Sandhar Technologies
Ex-Date Special Dividend: Indoco Remedies
Ex-Date Dividend: Gujarat Industries Power Company, ITD Cementation India, Monarch Networth Capital
Record-Date Face Value Split: Bajaj Finserv
Record-Date Bonus: Bajaj Finserv
Record-Date Buy Back: CARE Ratings, Quick Heal Technologies
Record-Date Dividend: CARE Ratings
Record-Date Final Dividend: Prince Pipes and Fittings, CMS Info Systems
Money Market Update
The rupee ended at Rs 79.14 against the U.S. Dollar on Tuesday as compared to Monday's closing of Rs 79.53
F&O Cues
Nifty September futures ended at 18,107.5, a premium of 37.45 points.
Nifty September futures shed 1.91% and 4,911 shares in Open Interest.
Nifty Bank September futures ended at 40,942, a premium of 68.9 Points.
Nifty Bank September futures added 2.99%, 2,543 shares in Open Interest.
Securities in the ban list: Delta Corp, Ambuja Cements, Indiabulls Housing Finance.
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