Inflation data, global trends and foreign fund trading activity would guide equity market movement in a holiday-shortened week, analysts said.
Stock markets would remain closed on Tuesday for Independence Day.
“Macroeconomic indicators, rupee and FII activities will be pivotal in shaping market trends in the coming days. Domestically, inflation figures hold significance. Globally, attention will be directed toward Japan’s inflation data, China’s IIP numbers, and the US retail sales statistics,” said Santosh Meena, Head of Research, Swastika Investmart Ltd.
On the macroeconomic front, wholesale and retail inflation numbers for July would be announced on Monday.
“India’s WPI and CPI inflation data, exports and imports numbers will be in focus in the coming days. We expect the Indian market will continue to remain rangebound and will take further cues from US jobs data and minutes of the Federal Open Market Committee (FOMC) meeting,” Arvinder Singh Nanda, Senior Vice President, Master
Posts in category Business Standard
Inflation, FII data to drive Market in holiday-shortened week: Analysts (13-08-2023)
Mcap of 7 of top 10 firms falls by Rs 74,603 cr, HDFC Bank biggest laggard (13-08-2023)
The combined market valuation of seven of the top 10 valued firms declined by Rs 74,603.06 crore last week, with HDFC Bank emerging as the biggest laggard.
The BSE benchmark declined 398.6 points or 0.60 per cent last week.
ICICI Bank, Hindustan Unilever, Infosys and ITC saw erosion in their market valuation while Reliance Industries, Tata Consultancy Services (TCS) and State Bank of India added to their market valuation.
The valuation of HDFC Bank declined by Rs 25,011 crore to Rs 12,22,392.26 crore.
ICICI Bank’s market valuation eroded by Rs 12,781 crore to Rs 6,66,512.90 crore and that of Bharti Airtel fell by Rs 11,096.48 crore to Rs 4,86,812.08 crore.
The valuation of Hindustan Unilever tanked Rs 10,396.94 crore to Rs 5,87,902.98 crore and that of ITC skidded by Rs 7,726.3 crore to Rs 5,59,159.71 crore.
The market capitalisation (mcap) of Bajaj Finance declined by Rs 4,935.21 crore to Rs 4,27,996.97 crore and that of Infosys dipped Rs 2,656.13 crore to Rs 5,69,406.39 …
RK Swamy files DHRP with SEBI; first-ever IPO by integrated marketing firm (12-08-2023)
Integrated marketing services firm RK Swamy Ltd has filed draft papers with capital markets regulator Sebi to mobilize funds through an initial public offering (IPO).
The company’s IPO comprises a fresh issue of shares aggregating up to Rs 215 crore and an offer for sale (OFS) of up to 87 lakh equity shares by selling shareholders, according to the draft red herring prospectus (DRHP).
Those offering shares in the OFS are — Srinivasan K Swamy, Narasimhan Krishnaswamy, Evanston Pioneer Fund LP, and Prem Marketing Ventures LLP.
The funds raised through the fresh issue would be used for setting up a digital video content production studio, establishing new customer experience centres and computer-aided telephonic interview centres as well as for general corporate purposes.
Also, the funds would be utilized for investment in the IT infrastructure development of RK Swamy Ltd, and its subsidiaries, Hansa Research and Hansa Customer Equity.
RK Swamy Ltd is the largest Indian majority-o
Gold price dips Rs 160 to Rs 59,519; silver unchanged at Rs 73,000 (12-08-2023)
The price of 22-carat gold stayed the same as yesterday, with the yellow metal selling at Rs 54,700
Judge sends FTX founder to jail, says crypto mogul tampered with witnesses (12-08-2023)
FTX founder Sam Bankman-Fried left a federal courtroom in handcuffs Friday after a judge revoked his bail after concluding that the fallen cryptocurrency wiz had repeatedly tried to influence witnesses against him.
Bankman-Fried looked down at his hands as Judge Lewis A Kaplan explained at length why he believed the California man had repeatedly pushed the boundaries of his $250 million bail package to a point that Kaplan could no longer ensure the protection of the community, including prosecutors’ witnesses, unless the 31-year-old was behind bars.
At the conclusion of the hearing, Bankman-Fried took off his suit jacket and tie and turned his watch and other personal belongings over to his lawyers. The clanging of handcuffs could be heard as his hands were cuffed in front of him. He was then led out of the courtroom by US marshals.
It was a spectacular fall for a man once viewed by many as a savvy crypto visionary who had testified before Congress and hired celebrities including ..
Sebi slaps Rs 35 lakh penalties on 7 entities for non-genuine trades (11-08-2023)
Capital market regulator Sebi has slapped penalties totalling Rs 35 lakh on seven entities for indulging in non-genuine trades in the illiquid stock options segment on BSE.
In seven separate orders on Thursday, the regulator imposed a fine of Rs 5 lakh each on Dilip Kumar Kedia-HUF, Appu Marketing and Manufacturing (now known as Ejecta Marketing Ltd), Meena Agarwal, City Gold Media Ltd, Competent Finlease, Sanjiv Kumar Agarwal and Shah Dhaval Surendrabhai-HUF.
The orders came after Sebi had observed large-scale reversal trades in the illiquid stock options segment on BSE, leading to artificial volumes on the exchange.
Thereafter, it conducted an investigation into the trading activities of certain entities engaged in the segment from April 2014 to September 2015.
The seven entities that have been fined on Thursday were among those who indulged in the execution of reversal trades.
Reversal trades are alleged to be non-genuine in nature as they are executed in the normal course of .
Nine companies filed for IPOs in July, the highest since March 2023 (11-08-2023)
Only five companies launched their IPOs in the first five months of 2023
India’s foreign exchange reserve fall for the third consecutive week (11-08-2023)
The fall in the reserves for the third straight week was mainly on account of a drop in the foreign currency assets, which declined $1.9 billion to $533 billion in the previous week
TVS Supply Chain IPO gets fully subscribed on day two of subscription (11-08-2023)
The Initial Public Offer (IPO) of TVS Supply Chain Solutions, part of TVS Mobility Group, was fully subscribed on the second day of subscription on Friday.
The Rs 880 crore IPO received bids for 2,58,46,384 shares against 2,51,22,289 shares on offer, translating into 1.03 times subscription, as per NSE data.
The category for Retail Individual Investors (RIIs) received 3.62 times subscription, the non-institutional investors part got subscribed 1.02 times and the portion for Qualified Institutional Buyers (QIBs) 15 per cent.
The IPO has a fresh issue aggregating up to Rs 600 crore and an offer for sale of up to 1,42,13,198 equity shares.
The company’s IPO is in a price range of Rs 187-197 per share.
TVS Supply Chain Solutions on Wednesday said it has mobilised Rs 396 crore from anchor investors.
Proceeds from the fresh issue to the tune of Rs 525 crore will be utilised for payment of debt availed by the company and its subsidiary TVS LI UK. Besides, funds will be used for inorgani
Sebi posts new norm for exit option window period for change in AMC control (11-08-2023)
Capital markets regulator Sebi on Friday came out with a new timeline for the exit option window period given to the mutual fund unitholders for change in control of asset management company(AMC).
Under the new timeline, a change in control of the AMC cannot be made unless the unitholders of the mutual fund would be given the option to exit on the prevailing Net Asset Value (NAV) without any exit load within a period of at least 15 calendar days from the date of communication. Earlier, this timeline was at least 30 days.
However, in case of change in control resulting in consolidation or merger of schemes, the unitholders would be given the option to exit on the prevailing NAV without any exit load within a time period not less than 30 calendar days from the date of communication, Sebi said in a circular.
Considering that growth in technological communication has enabled faster dissemination of information to unitholders, a request was received by Sebi from the mutual fund industry