Share Market News

GIFT Nifty:

The GIFT Nifty September futures contract is down 21 points, suggesting a negative start for the Nifty 50.

Foreign portfolio investors (FPIs) bought shares worth Rs 7,695 crore, while domestic institutional investors (DIIs) were net sellers to the tune of Rs 1,800.54 crore in the Indian equity market on 12 September 2024, provisional data showed.

FPIs have bought shares worth over Rs 15265.31 crore in September 2024 (so far). They sold shares worth 21368.51 crore in August 2024.

Economy:

India’s retail inflation rose to 3.65% in August, slightly higher than 3.6% reported in July. The inflation was within the Reserve Bank of India’s (RBI) medium-term target of 2-6%.

Separately, the Index of Industrial Production (IIP) rose slightly to 4.83% in July from 4.72% in June.

Global Markets:

Asian stocks were mixed on Friday as investors took profits following the previous session's rally. The market remains optimistic about the possibility of a US Federal Reserve interest rate cut.

US stock markets closed higher on Thursday after the latest inflation data solidified expectations for a 25-basis point rate decrease by the Federal Reserve. The Dow Jones Industrial Average gained 0.58%, the S&P 500 rose 0.75%, and the Nasdaq Composite ended 1.00% higher.

Warner Bros Discovery shares surged 10.4%, while Charter's stock price increased by 3.6%. Moderna experienced a decline of 12.4%, and Kroger shares rallied 7.2%.

The producer price index (PPI) for final demand rose 0.2% in August, slightly exceeding estimates of 0.1% growth. The core PPI, excluding volatile food and energy prices, increased by 0.3%, surpassing the forecasted 0.2%.

The number of Americans filing initial claims for unemployment benefits rose marginally last week. Initial claims increased by 2,000 to a seasonally adjusted 230,000 for the week ending September 7.

The European Central Bank (ECB) implemented a second interest rate cut this year. The key deposit rate was lowered by 25 basis points to 3.5%, aligning with expectations. While the ECB reduced its 2024 economic growth projection, it remains confident that inflation will broadly align with its 2% target by the end of 2025.

Domestic Market:

The domestic stock market concluded Thursday's trading session with significant gains. The benchmark Nifty50 index surged above 25,433, marking a new high. While market volatility was observed due to the expiry of weekly index options, a broad-based rally lifted the overall market. Key sectors contributing to the gains included metals, auto, and public sector banks. The positive sentiment in the Indian market was likely influenced by the upbeat global market mood, fueled by expectations of interest rate cuts by major central banks. This global optimism provided a supportive backdrop for the domestic market.

In the barometer index, the S&P BSE Sensex surged 1,439.55 points or 1.77% to 82,962.71. The Nifty 50 index zoomed 470.45 points or 1.89% to 25,388.90. Both the indices attained record closing high levels. The Sensex and Nifty clocked an all-time high of 83,116.19 and 25,433.35, respectively, in late trade.

GIFT Nifty:

The GIFT Nifty September futures contract is down 14 points, suggesting a negative start for the Nifty 50.

Foreign portfolio investors (FPIs) bought shares worth Rs 1,755 crore, while domestic institutional investors (DIIs) were net buyers to the tune of Rs 230.90 crore in the Indian equity market on 11 September 2024, provisional data showed.

FPIs have bought shares worth over Rs 7570.31 crore in September 2024 (so far). They sold shares worth 21368.51 crore in August 2024.

Bajaj Housing Finance IPO reported record-high subscription, topping Rs 3 lakh crore, for the Rs 6,560-crore issue -- a first in India. The record subscription for Bajaj Housing Finance IPO came amid strong demand from institutional and non-institutional investors.

Global Markets:

Asian market experienced an uptick on Thursday, driven by a surge in technology stocks. Meanwhile, Japanese markets soared as a softer-than-expected producer price inflation reading undermined the Bank of Japan's hawkish stance.

The gains in Japanese stocks were fueled by the August producer price index (PPI) data, which came in at a lower-than-anticipated 2.5% year-over-year increase. This marked the slowest PPI growth since May, contrasting with the previous month's 3.0% rise.

Regional technology stocks followed their U.S. counterparts, buoyed by Nvidia CEO Jensen Huang's optimistic outlook on strong artificial intelligence demand. Chipmakers were particularly prominent among the gainers.

However, a stronger-than-expected consumer inflation reading tempered expectations for interest rate cuts. Markets are now positioning for a 25-basis-point rate cut by the Federal Reserve next week.

The annual core consumer price inflation rate in the United States, excluding volatile items like food and energy, stood at a three-year low of 3.2% in August 2024, matching July's figure.

U.S. stocks rebounded on Wednesday after a volatile trading session, as investors assessed the implications of the latest inflation data for Federal Reserve policy. Tech shares led the recovery from earlier lows. The S&P 500 gained 1.07%, the Dow Jones Industrial Average added 0.31%, and the Nasdaq Composite rose 2.17%.

The US Labor Department reported the consumer price index (CPI) rose 0.2% last month, in line with July. Core CPI, excluding volatile food and energy components, rose 0.3% on a monthly basis, exceeding expectations.

Domestic Market:

The domestic equity market took a significant hit on Wednesday, with the Nifty50 closing below 24,950. The early-afternoon high of 25,113 was short-lived as sectors like oil & gas, PSU banks, and metals faced selling pressure. Investors are closely watching upcoming inflation data from the US and India. While US inflation is anticipated to increase, Indian inflation is expected to remain steady. Additionally, the Bank of Japan's suggestion of a potential rate hike if inflation stays elevated added to the market's cautious tone. The S&P BSE Sensex slipped 398.13 points or 0.49% to 81,523.16. The Nifty 50 index declined 122.65 points or 0.49% to 24,918.45.

GIFT Nifty:

The GIFT Nifty September futures contract is down 21 points, suggesting a negative start for the Nifty 50.

Foreign portfolio investors (FPIs) bought shares worth Rs 2,208.23 crore, while domestic institutional investors (DIIs) were net sellers to the tune of Rs 275.37 crore in the Indian equity market on 10 September 2024, provisional data showed.

FPIs have bought shares worth over Rs 5815.31 crore in September 2024 (so far). They sold shares worth 21368.51 crore in August 2024.

Global Markets:

The Dow Jones index futures were down 133 points, indicating a weak opening in the US stocks today.

Asian stocks traded lower on Wednesday, reflecting investor caution as they anticipate a crucial U.S. presidential debate and the release of key inflation data. Crude oil prices remained near three-year lows, below $70 per barrel, due to concerns about weak demand.

The upcoming debate between Vice President Kamala Harris and former President Donald Trump could significantly influence the U.S. election. Investors will then turn their attention to the U.S. Consumer Price Index (CPI) report, which could provide clues about potential Federal Reserve interest rate cuts.

While the Fed is expected to lower rates next week, the magnitude of the cut remains uncertain, especially after a mixed jobs report last Friday.

U.S. stock markets experienced a volatile session on Tuesday, closing mixed as investors prepared for the CPI report. The S&P 500 (+0.5%) and Nasdaq Composite (+ 0.9%) finished slightly higher, while the Dow Jones Industrial Average (-0.2%) closed lower.

Apple shares declined after the company lost a legal battle in the EU over a $14 billion tax bill. This followed the recent launch of the iPhone 16, which was met with some disappointment regarding its artificial intelligence capabilities.

Domestic Market:

Domestic stocks rose modestly on Tuesday, with the Nifty closing above 25,000. Tech, media, and healthcare sectors led the gains. Investors are watching US inflation data and Fed policy decisions closely. Global concerns about the US economy and domestic optimism about monsoon and festive season demand are influencing market sentiment. In the barometer index, the S&P BSE Sensex jumped 361.75 points or 0.44% to 81,921.29. The Nifty 50 index gained 104.70 points or 0.42% to 25,041.10.

GIFT Nifty:

The GIFT Nifty September futures contract is down 9.50 points, suggesting a negative start for the Nifty 50.

Foreign portfolio investors (FPIs) bought shares worth Rs 1,176.55 crore, while domestic institutional investors (DIIs) were net buyers to the tune of Rs 1,757.02 crore in the Indian equity market on 9 September 2024, provisional data showed.

FPIs have bought shares worth over Rs 3607.08 crore in September 2024 (so far). They sold shares worth 21368.51 crore in August 2024.

Global Markets:

Most Asian stock markets climbed on Tuesday, mirroring a previous night's surge in Wall Street as investors eagerly awaited upcoming inflation data for hints on potential interest rate cuts.

While Chinese markets participated in the regional uptrend, they underperformed due to several factors. The recent passage of a U.S. bill imposing fresh restrictions on Chinese biotechnology companies dampened sentiment. Additionally, a series of mixed economic indicators released over the past week weighed on Chinese stocks.

The primary focus this week is on the key US consumer price index inflation data, which is expected to influence the outlook for interest rates.

U.S. stocks rallied on Monday as investors bought the dip, anticipating a potential Federal Reserve rate cut later this month to support the slowing economy. Technology stocks, which were among the hardest hit last week, led the rebound. The Dow Jones Industrial Average surged 1.2%, the S&P 500 gained 1.16%, and the Nasdaq Composite jumped 1.16%.

The US House of Representatives on Monday overwhelmingly passed the BIOSECURE Act by a vote of 306 to 81. This legislation aims to restrict business dealings between US drug companies and certain Chinese biotech firms within an eight-year timeframe. The act specifically targets five Chinese companies: BGI Genomics, MGI Tech, Complete Genomics, WuXi AppTec, and Wuxi Biologics. The US government will now be prohibited from contracting with or providing grants to these companies. The BIOSECURE Act will now proceed to the US Senate for further consideration and potential passage.

Domestic Market:

Domestic equity indices ended with modest gains on Monday, reflecting a cautious optimism in the market. The Nifty 50 index closed above the 24,900 level, despite hitting a low of 24,753.15 earlier in the session. FMCG and private banking stocks were the standout performers, driving the market's upward momentum. However, energy and IT stocks faced selling pressure, limiting the overall gains.

In the barometer index, the S&P BSE Sensex rose 375.61 points or 0.46% to 81,559.54. The Nifty 50 index added 84.25 points or 0.34% to 24,936.40.

GIFT Nifty:

The GIFT Nifty September futures contract is up 75 points, suggesting a strong start for the Nifty 50.

Foreign portfolio investors (FPIs) sold shares worth Rs 620.95 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 2,121.53 crore in the Indian equity market on 6 September 2024, provisional data showed.

FPIs have bought shares worth over Rs 2430.53 crore in September 2024 (so far). They sold shares worth 21368.51 crore in August 2024.

The highly anticipated meeting of the GST Council, chaired by Union Finance Minister Nirmala Sitharaman, is taking place today. The council is expected to discuss lowering the GST rate on life and health insurance premiums, currently at 18%. This potential rate reduction could lead to lower insurance costs for policyholders. In addition, the council will consider exempting foreign airlines' head offices from GST on imported services received without consideration. This measure could potentially reduce the tax burden on these foreign airlines.

Global Markets:

The Dow Jones index futures were up 65 points, indicating a positive opening in the US stocks today.

Asian stock markets plunged on Monday as selling pressure intensified, triggered by a weaker-than-expected US jobs report and the looming Fed meeting. Concerns about a slowdown in China and Germany further fueled the decline in stocks, which were already volatile due to anticipated Fed rate cuts.

The US non-farm payrolls increased by only 142,000 in August, falling short of the expected 165,000. This marked the lowest three-month average since mid-2020. Although the unemployment rate decreased to 4.2%, it was the first drop in five months.

In China, the consumer price index rose by 0.6% year-on-year in August, primarily due to declines in transportation, home goods prices, and rents.

Meanwhile, US markets suffered a significant setback on Friday. The S&P 500 experienced its worst week since March 2023, as investors grappled with the implications of the weak jobs report and abandoned leading technology stocks. The broad index declined by 1.73%, while the Nasdaq Composite shed 2.55%. The Dow Jones Industrial Average fell 1.01%. Megacap tech stocks took a particularly hard hit as investors dumped risk assets amidst growing concerns about the US economy's health.

Investors widely anticipate the Fed to lower interest rates by at least a quarter-percentage point at its upcoming policy meeting. However, the softening labor market trends have increased speculation that the central bank might opt for a more aggressive cut. Traders remain divided on whether the Fed will cut by a quarter- or half-percentage point.

Domestic Market:

Domestic equity market experienced a sharp decline on Friday, mirroring a broader sell-off in global markets. Investors were cautious ahead of the release of crucial US jobs data later in the day, which could significantly impact the Federal Reserve's monetary policy decisions. The Nifty 50 index closed below the 24,900 level, reversing from an earlier intraday high of 25,168.75. The sell-off was widespread, with banking and energy sectors bearing the brunt of the decline.

The barometer index, the S&P BSE Sensex, tanked 1,017.23 points or 1.24% to 81,183.93. The Nifty 50 index dropped 292.95 points or 1.17% to 24,852.15.

GIFT Nifty:

The GIFT Nifty September futures contract is down 33 points, suggesting a negative start for the Nifty 50.

Foreign portfolio investors (FPIs) sold shares worth Rs 688.69 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 2,970.74 crore in the Indian equity market on 5 September 2024, provisional data showed.

FPIs have bought shares worth over Rs 3051.48 crore in September 2024 (so far). They sold shares worth 21368.51 crore in August 2024.

Global Markets:

Asian stocks were mixed on Friday as investors shifted their focus to the upcoming U.S. payrolls report. The report is expected to shed light on the potential magnitude of a rate cut by the Federal Reserve later this month.

Overnight in the U.S., all three major indexes declined amid ongoing concerns about the economic outlook. The S&P 500 fell by 0.3%, extending its losing streak to three days, while the Dow Jones Industrial Average dropped 0.54%. However, the tech-heavy Nasdaq Composite managed a modest gain of 0.25%.

Adding to the economic uncertainty, ADP reported that private sector job growth in August was the weakest in over three and a half years. Companies hired only 99,000 workers, falling short of both the downwardly revised July figure and market expectations. This marked the weakest month for job growth since January 2021, according to data from the payrolls processing firm.

Domestic Market:

Domestic equity benchmarks closed slightly lower on Thursday, with the Nifty50 settling below 25,150 after reaching a high of 25,275.45. Volatility was heightened due to the expiry of weekly index options on the NSE. IT, media, and consumer durables stocks outperformed, while auto and oil & gas sectors faced selling pressure. Investor sentiment remained cautious ahead of a series of key US economic data releases, which could influence the Federal Reserve's decision on interest rate cuts. US nonfarm payrolls and the unemployment rate will release on Friday.

The S&P BSE Sensex declined 151.48 points or 0.18% to 82,201.16. The Nifty 50 index lost 53.60 points or 0.21% to 25,145.10.

GIFT Nifty:

The GIFT Nifty September futures contract is up 10 points, suggesting a positive start for the Nifty 50.

Foreign portfolio investors (FPIs) bought shares worth Rs 975.46 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 97.35 crore in the Indian equity market on 4 September 2024, provisional data showed.

FPIs have bought shares worth over Rs 3740.17 crore in September 2024 (so far). They sold shares worth 21368.51 crore in August 2024.

Global Markets:

The Dow Jones index futures were down 12 points, indicating a negative opening in the US stocks today.

Asian markets rebounded from Wednesday's decline as global bond yields retreated. A weaker-than-expected US job market report fueled speculation that the Federal Reserve might implement a more aggressive rate cut in September. While Japan's equity benchmark continued to falter, the yen strengthened and the dollar weakened, suggesting expectations for significant rate cuts.

The US job openings data for July, at 7.67 million, fell below estimates. This marked the lowest level since early 2021, indicating a potential challenge in achieving a soft landing for the world's largest economy. Market participants will closely monitor the upcoming August economic report on Friday, which could further influence the magnitude of rate cuts.

China's economic difficulties intensified as JPMorgan strategists downgraded the country's stock outlook. Citing a challenging economic landscape and heightened volatility surrounding the US election, they lowered their rating from overweight to neutral. In an attempt to stimulate the property market and broader economy, China is considering interest rate cuts on a significant portion of its mortgage debt.

A notable development saw India surpass China as the largest weighting in the MSCI EM investable market index (IMI).

US stock markets experienced a mixed start to September. The S&P 500 and Nasdaq Composite declined for a second consecutive day Wednesday, while the Dow Jones Industrial Average gained slightly. A temporary return to a normal yield curve provided some support to US stocks, easing recession concerns that had previously plagued investors.

Domestic Market:

The domestic equity benchmarks ended with minor losses on Wednesday. The Nifty snapped its 14-day winning streak and settled a tad below the 25,200 level. Global market jitters over a potential US economic slowdown and anticipation of key economic data weighed on sentiment. Despite early losses, selective buying in large-cap stocks helped limit the decline. Healthcare and pharma sectors outperformed, while IT and PSU banks faced selling pressure.

The S&P BSE Sensex slipped 202.80 points or 0.25% to 82,352.64. The Nifty 50 index declined 81.15 points or 0.32% to 25,198.70. The 50-unit index had risen 4.73% in the past 14 consecutive sessions.

GIFT Nifty:

The GIFT Nifty September futures contract is down 70 points, suggesting a negative start for the Nifty 50.

Foreign portfolio investors (FPIs) bought shares worth Rs 1,029.25 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 1,896.21 crore in the Indian equity market on 3 September 2024, provisional data showed.

FPIs have bought shares worth over Rs 2764.71 crore in September 2024 (so far). They sold shares worth 21368.51 crore in August 2024.

Global Markets:

The Dow Jones index futures were down 76 points, indicating a negative opening in the US stocks today.

Asian shares were trading lower on Wednesday as oil prices plummeted to multi-month lows. A sharp tech selloff on Wall Street, coupled with resurgent concerns about U.S. growth, drove investors away from riskier assets.

Recent data from China revealed that its economy is still struggling to gain traction, leading to renewed calls for more stimulus from Beijing. The sluggish Chinese outlook, the world's largest oil importer, further exacerbated the decline in oil prices due to expectations of weakening demand.

September has historically been a challenging month for stocks, but analysts attributed the current rout to a confluence of factors, including tepid U.S. manufacturing data.

U.S. stocks closed sharply lower overnight after the holiday, with AI leader NVIDIA tumbling nearly 10% as investors tempered their enthusiasm about artificial intelligence. The return from the Labor Day holiday saw a widespread air of portfolio de-risking across capital markets. Growth concerns were the dominant theme, leading to a sell-off in cyclical-sensitive assets and aggressive hedging.

The Dow Jones Industrial Average fell 1.51%, the S&P 500 slid 2.12% and the Nasdaq Composite dropped 3.26%. All three indexes notched their worst days since the global sell-off on Aug. 5.

US manufacturing contracted at a moderate pace in August. The Institute for Supply Management (ISM) said its manufacturing PMI rose to 47.2 last month from 46.8 in July, which was the lowest reading since November. The PMI remained below the 50 threshold for the fifth straight month.

Domestic Market:

Domestic stock market took a breather Tuesday, ending almost flat. Mixed global cues, coupled with a slight slowdown in India's manufacturing activity, tempered investor enthusiasm. However, positive outlooks on monsoon and government capex supported consumption and rural-based stocks. The BSE Sensex snapped its 11-day winning streak, while the Nifty 50 extended its rally for the 14th consecutive session. Consumer durables, financial services and banks shares shares advanced, while media, metal and realty shares declined.

The barometer index, the S&P BSE Sensex, shed 4.40 points or 0.01% to 82,555.44. The Nifty 50 index added 1.15 points to 25,279.85. The 50-unit index has risen 4.73% in 14 consecutive sessions.

GIFT Nifty:

The GIFT Nifty September futures contract is up 1.50 points, suggesting a flat start for the Nifty 50.

Foreign portfolio investors (FPIs) bought shares worth Rs 1,735.46 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 356.37 crore in the Indian equity market on 2 September 2024, provisional data showed.

FPIs have sold shares worth over Rs 1735.46 crore in September 2024 (so far). They sold shares worth 21368.51 crore in August 2024.

Global Markets:

Most Asian stocks advanced Tuesday, led by Japanese equities, while the yen steadied after weakening against the dollar over the past week.

Traders in Asia will be keeping a close eye on fresh signs of economic troubles in China. Data on Saturday showed Chinese factory activity had contracted for a fourth straight month in August, the latest signal that the world’s second-largest economy may struggle to meet this year’s growth target.

Wall Street will reopen later Tuesday, following the Labor Day public holiday.

Domestic Market:

The headline equity benchmarks ended with decent gains on Monday after hitting fresh record highs. The barometer index, the S&P BSE Sensex gained 194.07 points or 0.24% to 82,559.84. The Nifty 50 index added 42.80 points or 0.17% to 25,278.70.

GIFT Nifty:

The GIFT Nifty September futures contract is down 37.50 points, suggesting a negative start for the Nifty 50.

Foreign portfolio investors (FPIs) bought shares worth Rs 5,318.14 crore, while domestic institutional investors (DIIs), were net sellers to the tune of Rs 3,198.07 crore in the Indian equity market on 30 August 2024, provisional data showed.

FPIs sold shares worth 21368.51 crore in August 2024.

Global Markets:

Asian share markets were mildly higher on Monday as investors awaited a data-packed week, culminating in the crucial U.S. jobs report. This report could determine whether the anticipated rate cut this month will be a standard or more aggressive reduction.

A Labor Day holiday in the United States and Canada contributed to thin trading conditions. Meanwhile, gains by far-right parties in German state elections added a layer of political uncertainty.

Traders will be closely watching the Caixin China manufacturing PMI, due out on Monday. This follows the official gauge, which showed a fourth consecutive month of contraction in August, indicating potential challenges in meeting China's annual growth target. The country's residential property market also continued to decline last month.

U.S. stocks rallied on Friday, buoyed by a report of improved consumer sentiment. This was attributed to easing inflation and expectations of Federal Reserve rate cuts, leading to optimism about personal finances. The Fed's preferred measure of underlying U.S. inflation, the core personal consumption expenditures price index, rose 0.2% month-over-month in July and 2.5% year-over-year.

The Dow Jones Industrial Average closed at a new all-time high, up 0.55%. The S&P 500 gained 1.01%, reaching 5,648.40, and the tech-heavy Nasdaq Composite rose 1.13% to 17,713.62.

Domestic Market:

Domestic equity barometers ended with moderate gains on Friday. The Nifty settled above the 25,200 level. Realty, pharma and healthcare shares advanced while media and FMCG stocks declined. The barometer index, the S&P BSE Sensex gained 231.16 points or 0.28% to 82,365.77. The Nifty 50 index added 83.95 points or 0.33% to 25,235.90.

GIFT Nifty:

The GIFT Nifty September futures contract is up 57 points, suggesting a positive start for the Nifty 50.

Foreign portfolio investors (FPIs) bought shares worth Rs 3,259.56 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 2,690.85 crore in the Indian equity market on 29 August 2024, provisional data showed.

FPIs have sold shares worth over Rs 26686.65 crore in August 2024 (so far). They bought shares worth 5407.83 crore in July 2024.

Global Markets:

The Dow Jones index futures were up 28 points, indicating a positive opening in the US stocks today.

Asian stocks rallied on Friday, buoyed by the expectation that the Federal Reserve will soon lower interest rates.

The upcoming release of the U.S. core personal consumption expenditures (PCE) price index, the Fed's preferred inflation gauge, and a reading on euro zone inflation are eagerly awaited. These data points will likely provide further insights into the rate outlook for major economies.

U.S. stocks closed higher on Thursday, despite a late-afternoon sell-off. The Dow Jones Industrial Average reached another record high as investors anticipated the release of the PCE inflation data. The Dow Jones Industrial Average rose 0.59%, the S&P 500 remained relatively unchanged at 5,591.96, and the Nasdaq Composite declined by 0.23%.

The U.S. economy saw stronger growth in Q2 than initially reported, driven by robust consumer spending and corporate profit rebounds. GDP increased by 3.0% in the last quarter, an upward revision from 2.8%. Consumer spending rose 2.9% annual rate last quarter, and corporate profits surged by $57.6 billion, supporting economic expansion.

Additionally, the number of Americans filing for unemployment benefits declined by 2,000 to 231,000 for the week of Aug. 24, the Labor Department reported Thursday (August 29).

Domestic Market:

The domestic equity indices ended a volatile session with decent gains on Thursday, rising for the eleventh session in a row. The Nifty50 closed above the 25,150 mark after hitting the day’s low of 24,998.50 in late trade. Trading was volatile due to expiry of August F&O series today. Oil & gas, FMCG and auto shares advanced, while pharma, metal and media shares declined. The S&P BSE Sensex jumped 349.05 points or 0.43% to 82,134.61. The Nifty 50 index added 99.60 points or 0.40% to 25,151.95. Both the indices attained record closing highs. The 50-unit index has risen 4.20% in eleven sessions.

GIFT Nifty:

The GIFT Nifty September futures contract is up 19.50 points, suggesting a positive start for the Nifty 50.

Reliance Industries' AGM today is a highly anticipated event. Investors are eagerly awaiting updates on the potential IPOs for Jio and the retail businesses, as well as announcements related to the new energy sector. Key areas of focus include the company's earnings growth, operational efficiencies, and financial strategies that reflect Reliance's significant transition phase.

Moreover, the monthly derivatives expiry for the August F&O series will likely influence market sentiment and volatility.

Foreign portfolio investors (FPIs) sold shares worth Rs 1,347.53 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 439.35 crore in the Indian equity market on 28 August 2024, provisional data showed.

FPIs have sold shares worth over Rs 29946.21 crore in August 2024 (so far). They bought shares worth 5407.83 crore in July 2024.

Global Markets:

The Dow Jones index futures were up 73 points, indicating a positive opening in the US stocks today.

Asian stocks retreated on Thursday, mirroring the overnight slump in Nvidia. The AI darling's tepid guidance on revenue and margins fueled concerns about the broader AI sector.

Investors are now keenly awaiting U.S. weekly jobless claims and inflation readings from Germany and Spain. These economic indicators will offer insights into the Federal Reserve's potential rate-cut trajectory beyond September, given its emphasis on the labor market's health.

U.S. stocks experienced a pullback on Wednesday. The Nasdaq Composite shed 1.12%, while the S&P 500 (-0.6%) and Dow Jones Industrial Average (-0.4%) saw more modest losses.

Nvidia's shares plunged as much as 8.5% in after-hours trading following its earnings report. While the company delivered a profit beat and announced a $50 billion buyback, investors were disappointed by the weaker-than-expected outlook for the current quarter's revenue and gross margin.

Domestic Market:

The key equity indices closed with modest gains on Wednesday, buoyed by strong demand for IT, pharma, and healthcare stocks. Meanwhile, media and public sector banks faced selling pressure. The Nifty 50 index extended its winning streak to tenth consecutive sessions to surpass the 25,050 mark.

The S&P BSE Sensex rose 73.80 points or 0.09% to 81,785.56. The Nifty 50 index added 34.60 points or 0.14% to 25,052.35, its record closing high level. The 50 unit index has climbed 3.78% in ten sessions.

GIFT Nifty:

The GIFT Nifty September futures contract is up 10 points, suggesting a positive start for the Nifty 50.

Foreign portfolio investors (FPIs) bought shares worth Rs 1,503.76 crore, while domestic institutional investors (DIIs), were net sellers to the tune of Rs 604.08 crore in the Indian equity market on 27 August 2024, provisional data showed.

FPIs have sold shares worth over Rs 28,598.68 crore in August 2024 (so far). They bought shares worth 5407.83 crore in July 2024.

Global Markets:

Most Asian stocks declined on Wednesday, with technology-heavy indexes retreating ahead of Nvidia's earnings report. Persistent concerns over China's trade tensions with Canada also weighed on investor sentiment.

While Wall Street's major indices reached new highs, the Nasdaq Composite lagged, reflecting cautiousness about Nvidia's earnings. Anticipation of lower interest rates led to a shift away from technology stocks and toward more economically sensitive sectors. The Dow Jones Industrial Average rose 0.02%, the S&P 500 gained 0.16%, and the Nasdaq Composite climbed 0.17%.

Domestic Market:

The domestic equity benchmarks failed to maintain their upward momentum on Tuesday, despite an intraday surge, and ultimately closed near the flatline. The Nifty 50 index settled slightly above the 25,000 mark. Among the sectoral gainers, media, financial services, and pharmaceutical stocks led the way. Conversely, FMCG and consumer durables shares faced downward pressure. In the barometer index, the S&P BSE Sensex rose 13.65 points or 0.02% to 81,711.76. The Nifty 50 index added 7.15 points or 0.03% to 25,017.75.

GIFT Nifty:

GIFT Nifty futures for September is trading 16 points lower, indicating a negative start for the Nifty 50.

Foreign portfolio investors (FPIs) bought shares worth Rs 483.36 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 1,870.22 crore in the Indian equity market on 26 August 2024, provisional data showed.

FPIs have sold shares worth over Rs 30102.44 crore in August 2024 (so far). They bought shares worth 5407.83 crore in July 2024.

Global Markets:

Most Asian stocks declined on Tuesday, driven by rising tensions in the Middle East and concerns over global supply chains. The exchange of fire between Israel and Lebanon's Hezbollah on Sunday heightened geopolitical risks, leading investors to seek safer assets.

Additionally, Canada's imposition of tariffs on Chinese electric vehicles, steel, and aluminum, mirroring similar moves by the United States and European Union, further dampened sentiment.

Investors are closely watching Nvidia's earnings report for insights into AI-related investments.

In the U.S., the Dow Jones Industrial Average reached a new high on Monday, recovering from a recent sell-off. However, the S&P 500 and Nasdaq Composite declined. A shift from technology stocks to other sectors was evident.

Market participants are now focused on the upcoming release of the U.S. personal consumption expenditure price index (PCE) on Friday and the August payrolls report next week.

Federal Reserve Chair Jerome Powell's speech on Friday signaled an imminent start to interest rate cuts, with markets fully pricing in a 25-basis-point reduction in September. Expectations for further easing in the coming months have also increased.

Domestic Market:

The key equity indices ended with strong gains on Monday, boosted by Federal Reserve Chair Powell's hint of potential interest rate cuts in the near future. The speech sparked a risk-on rally in global stock markets. The Nifty closed above the 25,000 level, with notable gains in metal, realty, and IT sectors. However, media and PSU bank stocks faced some selling pressure. In the barometer index, the S&P BSE Sensex jumped 611.90 points or 0.75% to 81,698.11. The Nifty 50 index surged 187.45 points or 0.76% to 25,010.60.

GIFT Nifty:

GIFT Nifty futures for September is trading 19 points lower, indicating a negative start for the Nifty 50.

Foreign portfolio investors (FPIs) bought shares worth Rs 1,944.48 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 2,896.02 crore in the Indian equity market on 23 August 2024, provisional data showed.

FPIs have sold shares worth over Rs 30585.80 crore in August 2024 (so far). They bought shares worth 5407.83 crore in July 2024.

Global Markets:

Asian markets were mixed on Monday, with some finding support from the anticipation of lower U.S. interest rates. However, Japanese markets retreated amidst pressure from the yen and speculation about potential rate hikes by the Bank of Japan. The upcoming Tokyo inflation data is expected to provide more clarity on the trajectory of Japanese interest rates.

Sentiment was also influenced by the People's Bank of China's withdrawal of approximately 101 billion yuan ($14.2 billion) from the open market. While this move aimed to strengthen the yuan, it also raised concerns about the extent of Beijing's support for the Chinese economy.

Regional markets drew initial strength from the positive performance of Wall Street, where the S&P 500 and Dow Jones Industrial Average approached record highs on Friday. Federal Reserve Chair Jerome Powell's comments reinforced expectations for a rate cut in September, with Powell stating that "the time has come" for a monetary policy adjustment.

In his speech at the Jackson Hole Economic Symposium on Friday, Powell highlighted the factors contributing to recent inflation, including increased demand for goods, supply chain disruptions, tight labor markets, and rising commodity prices. He also clarified that the recent rise in the unemployment rate is primarily due to increased labor supply and slower hiring, rather than widespread layoffs.

The S&P 500 gained 1.2%, the Dow Jones Industrial Average rose 1.1%, and the NASDAQ Composite surged 1.5%.

However, caution prevailed ahead of a series of crucial events this week. The most anticipated is the earnings report from NVIDIA Corporation, a market darling, which is due after the market closes on Wednesday. Additionally, the PCE price index data, the Fed's preferred inflation gauge, is scheduled for later in the week.

Domestic Market:

The domestic equity benchmarks closed almost flat on Friday, awaiting clues on interest rate cuts from US Fed Chair Powell's speech at Jackson Hole. Investors are cautious about the timing, size and pace of these cuts. The Nifty50 held the 24,800 level. Realty, media and IT stocks fell the most, while Nifty Auto bucked the trend. The barometer index, the S&P BSE Sensex, rose 33.02 points or 0.04% to 81,086.21. The Nifty 50 index added 11.65 points or 0.05% to 24,823.15.