Stock Market Today: All You Need To Know Going Into Trade On Sept. 12

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Stock Market Today: All You Need To Know Going Into Trade On Sept. 12

Asian shares rose after a positive close on Wall Street on Friday, while the euro advanced as investors expected the European Central Bank to toe the Fed line on interest-rate hikes.

Japanese and Australian equities gained 1% and US futures advanced after the S&P 500 and Nasdaq 100 snapped three-week losing streaks on Friday. Markets in China, Hong Kong and South Korea are closed for holidays.

At 6:30 am, the Singapore-traded SGX Nifty--an early barometer of India's benchmark Nifty 50--traded 0.16% higher at 17,870.50 points.

West Texas Intermediate crude slipped 0.9% to $86.02 a barrel.

Stock Market Today: All You Need To Know Going Into Trade On Sept. 12

Global Cues

  • U.S. Dollar Index at 108.86

  • U.S. 10-year bond yield at 3.59% on Monday

  • Brent crude down 0.75% to $92.14 per barrel

  • Nymex crude at $86 per barrel

  • SGX Nifty up 0.16% to 17,870.5 as of 6:10 a.m

  • Bitcoin up 0.03% to $21,716.6

Stocks To Watch

  • Oberoi Realty: The company has approved scheme of amalgamation its four subsidiaries: Oberoi Constructions, Oberoi Mall, Evenstar Hotels and Incline Realty. The rationale for the move was the similar nature of business of the companies and creating a simplified structure with greater management focus.

  • SpiceJet: The company has appointed Ashish Kumar as its new chief financial officer. He was previously at IndiGo's parent InterGlobe Enterprises.

  • KEC International/GIPCL: Gujarat Industries Power has awarded to KEC International an EPC contract worth Rs 244 crore for pooling sub-station 400/33 KV, 1200 MW of solar/wind/hybrid renewable energy park of 2,375 MW capacity in the Great Rann of Kutch, Gujarat.

  • Bank of Baroda: Lender has hiked its marginal cost of funds-based lending rate by 5-15 basis points across tenors with effect from Sept. 12.

  • Indian Overseas Bank: Lender has hiked its marginal cost of funds-based lending rate by 10 basis points across tenors, with effect from Sept. 10.

  • ACC, Ambuja Cements: Adani Group Chairman Gautam Adani will join the boards of the cement makers upon completion of acquisition by Adani Enterprises Ltd., Mint reports.

  • Apollo Tyres: Reinstated 'Outperform' at Haitong International.

  • HDFC Life Insurance: BNP Paribas has initiated coverage with 'buy', with a price target set at Rs 800/share.

  • Reliance Industries: The Mukesh Ambani-led company has acquired polyester chips and yarn manufacturer Shubhalakshmi Polyesters Ltd. for Rs 1,592 crore. The deal is subject to approval of the Competition Commission of India and the respective lenders.

  • Tata Steel: The board of the steelmaker will meet on Sept. 14 to consider issue of debentures.

Pledged Share Details

  • Asahi India Glass: Promoter & Director Sanjay Labroo revoked pledge of 8 lakh shares between Sept. 7 and 8.

  • Patel Engineering: Promoter Raahitya Constructions revoked pledge of 1 crore shares on Sept. 6.

  • Jindal Steel & Power: Promoter Group Opelina Sustainable Services revoked pledge of 72.03 lakh shares on Sept. 5.

  • Inox Wind: Promoter Inox Wind Energy revoked pledge of 4.6 lakh shares on Sept. 1.

Insider Trades

  • Dhampur Sugar Mills: Promoter Goel Investments has bought 10 lakh shares, Promoter Shudh Edible Products sold 10 lakh equity shares on Sept. 9.

  • Usha Martin: Peterhouse Investments sold 2 lakh shares on Sept. 8.

  • Patel Engineering: Promoter Raahitya Constructions sold 1.80 crore shares between Sept. 5 and 9.

  • Vaibhav Global: Promoter Group Brett Enterprises bought 4,000 shares on Sept. 8.

  • Geojit Financial Services: Promoter BNP Paribas sold 1.19 lakh shares on Sept. 6.

  • Authum Investment & Infrastructure: Promoter Group Mentor Capital bought 3.48 crore shares on Sept. 7 and 8.

  • Dhampur Bio Organics: Promoter Shudh Edible Products bought 13.50 lakh shares. Promoter Goel Investments sold 13.50 lakh shares on Sept. 9.

Bulk Deals

  • Coffee Day Enterprises: IDBI Trusteeship Services sold 16.56 lakh shares (0.78%) at Rs 57.44 apiece.

  • Ganesha Ecosphere: Rohan Gupta sold 1.48 lakh shares (0.67%) at Rs 635.63 apiece.

  • Dhampur Bio Organics: Shudh Edible Products bought 13.5 lakh shares (2.03%) at Rs 170 apiece and Goel Investments sold 13.5 lakh shares (2.03%) at Rs 170 apiece.

  • Dhampur Sugar Mills: Goel Investments bought 10 lakh shares (1.5%) and Shudh Edible Products sold 10 lakh shares (1.5%) at Rs 240 apiece.

Who’s Meeting Whom

  • Shankara Building: To meet investors and analysts on Sept. 12.

  • Precision Camshafts: To meet investors and analysts on Sept. 12.

  • Capri Global Capital: To meet investors and analysts on Sept. 12.

  • Delhivery: To meet investors and analysts on Sept. 12.

AGMs Today

  • Shipping Corporation of India

  • ICICI Prudential Life Insurance Company

  • Allcargo Logistics

  • Andhra Paper

  • Easy Trip Planners

  • Wendt (India)

  • Clariant Chemicals (India)

  • InterGlobe Aviation

  • ABB India

Trading Tweaks

  • Price Band Revised From 10% To 5%: GTL Infrastructure

  • Ex-Date Dividend: Alembic, GNA Axles

  • Ex-Date Final Dividend: DB Corp, Glenmark Pharmaceuticals, Phoenix Mills, Precision Camshafts,

  • Record-Date Interim Dividend: Suven Pharmaceuticals

  • Record-Date Special Dividend: Suven Pharmaceuticals

  • Move Into Short-Term ASM Framework: Vijaya Diagnostic Centre

  • Move Out Of Short-Term ASM Framework: Data Patterns (India)

Money Market Update

The rupee ended at Rs 79.58 against the U.S. Dollar on Friday as compared to Thursday's closing of Rs 79.71

F&O Cues

  • Nifty September futures ended at 17,859.80, a premium of 26.45 points.

  • Nifty September futures shed 1.52% and 3,882 shares in Open Interest.

  • Nifty Bank September futures ended at 40,498.70, a premium of 83 Points.

  • Nifty Bank September futures shed 0.87%, 745 shares in Open Interest.

  • Securities in the ban list: Delta Corp

  • Securities added to the ban list: Ambuja Cements

Stock Market Today: All You Need To Know Going Into Trade On Sept. 12

Research Reports