Stock Market Today: All You Need To Know Before Going Into Trade On Sept 24

Good Morning!

The Gift Nifty was trading around 23,280 level, a discount of nearly 170 points from the Nifty futures' previous close indicating negative open for the benchmark Nifty 50. The NSE Nifty 50 and BSE Sensex rose 0.50% and 0.40% respectively. US and European index futures are trading lower during Asian trading hours.

• S&P 500 futures trade 0.75% lower.
• Euro Stoxx 50 futures trade 0.38% down.

US Market Wrap

Stocks joined bonds lower as a rally in oil prices stoked worries about inflationary pressures, which were further reinforced by data showing US business activity jumped at the fastest pace since 2021. The decline in equities sent the S&P 500 down from near-record levels. A selloff in Treasuries deepened after a weak $70 billion sale of five-year notes that drove yields on most maturities to almost two-decade highs. The dollar climbed against all major currencies.

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The S&P 500 fell 0.8% as of 4 p.m. New York time, The Nasdaq 100 fell 0.9%. The Dow Jones Industrial Average fell 0.7%, according to Bloomberg.

Asian Market Wrap

Asian bonds fell, tracking losses on Wall Street as rising oil prices and stronger-than-expected US economic data fueled inflation concerns and bets on further interest-rate hikes. Asian stocks slipped 0.3%, while Japanese stocks edged higher as markets in Tokyo reopened after a three-day holiday. Chinese stocks will also be in focus after the US and China extended their trade truce by two months as President Xi Jinping landed in America for his first state visit in 11 years.

Japanese stocks look poised to catch up with a global AI-led rally when trading resumes on Thursday, while a weaker yen keeps currency intervention risk in focus. Nikkei 225 futures traded in Osaka were about 1.4% higher than where the underlying gauge settled on Friday. 

Commodity Check

Gold held a decline as resurgent energy prices and stronger-than-expected US economic data increased bets the Federal Reserve might again raise interest rates to combat inflation. Bullion was trading around $4,290 an ounce, after falling 1.7% the day before. Spot gold edged up 0.1% to $4,290.29 an ounce at 8:08 a.m. in Singapore. Silver was 0.2% lower at $64.31 an ounce after sliding 4% in the previous session. Platinum and palladium edged lower.

Copper retreated from close to a record as an upswing in oil prices and strong US economic data stoked concerns about higher US interest rates. The metal dropped 0.9% to close at $14,618 a ton on the London Metal Exchange, marking its first daily decline since Sep. 14. Aluminum and zinc also edged lower. 

Oil steadied after surging on renewed tensions between the US and Iran, with a defiant message from President Masoud Pezeshkian highlighting the still-wide gap between the two sides. Brent held below $103 a barrel after climbing almost 4% in the midweek session, while West Texas Intermediate was near $92.

Stock Market Recap

The Nifty 50 settled 117.80 points, or 0.50%, higher at 23,446.80, gaining 15.45 points from its provisional close. The Sensex ended 297.68 points, or 0.40%, higher at 74,826.76, adding 32.15 points from the provisional close.

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Stocks in News

• Karur Vysya Bank: Opens new branch in P N Pudur, Coimbatore.
• Balkrishna Industries: CRISIL assigned A1+ rating to proposed Rs 500 crore commercial paper.
• Saksoft: NCLT Chennai sanctions merger of Augmento Labs into company.
• Avantel: Gets Rs 177 crore order from Zetwerk Manufacturing Businesses for supply of satellite equipment.
• SBI Cards: Launches FD-backed secured credit card on YONO.
• JSW Infrastructure: CARE assigned AA-/Stable rating to JSW Jatadhar Marine Services' Rs 2,100 crore bank facilities. CARE reaffirmed JSW Infrastructure's AA+/Stable rating; bank facilities raised to Rs 480 crore. CARE upgraded JSW Jaigarh Port's long-term rating to AA+; short-term rating reaffirmed for Rs 745 crore facilities.
• IOL Chemicals: Gets EU-REACH registration for triacetin, enabling exports across EU nations and strengthening access to European markets.
• Exide Industries: Arm commissions 6 GWh lithium-ion cell manufacturing unit in Bengaluru.
• Indo Tech Transformers: Gets Rs 43 crore orders for supply of two 125 MVA transformers. Orders strengthen presence in 400 kV transformer segment and renewable energy and higher-voltage transformer business.
• GHCL: Becomes preferred bidder for Kadaya block of Gujarat limestone mines with 5.6 lakh MT reserves.
• Concord Biotech: Approves issuance of bonus shares in 1:1 ratio.
• Aditya Birla Capital: Allots 19,200 NCDs worth Rs 192 crore on private placement basis.
• ESAF Small Finance Bank: Approves raising up to Rs 500 crore via debt.
• Avenue Supermarts: Opens new store in Bengaluru; total store count stands at 514.
• PC Jeweller: Allots 1.18 crore shares to promoter Balram Garg upon conversion of 1.18 crore warrants. Repays debt of 13 out of 14 consortium banks; discharges 99% of outstanding bank debt.
• Fractal Analytics: Matthew Gennone resigns as Chief Commercial Officer and CEO of Cogentiq.
• Clean Science and Technology: Invests Rs 50 crore in wholly owned subsidiary Clean Fino-Chem through rights issue. Subscribes to 8.36 lakh equity shares at Rs 598/share; maintains 100% shareholding in Clean Fino-Chem. Maha GST authorities conduct search at arm's office and manufacturing units; company says it is extending full cooperation.
• Jagsonpal Pharma: Enters into business transfer agreement with Group Pharma to acquire wellness portfolio for Rs 23.7 crore. Additional consideration linked to FY28 sales of up to Rs 23 crore; total consideration capped at Rs 46.7 crore.
• Bharat Dynamics: Signs Rs 811 crore SAT-SAAW pact with Defence Ministry. SAT-SAAW is Satellite Smart Anti-Airfield Weapon.
• Emcure Pharma: Chairman Berjis Desai retires on Sept 21. Reappoints Satish Mehta as MD and CEO for five years from April 1.
• Rainbow Children's Medicare: Appoints Sudarshan Patodia as CFO and Group CFO effective Sept 23.
• Zelio E Mobility: Approves allotment of 9.7 lakh shares worth Rs 83 crore to four proposed non-promoter allottees. Approves allotment of 9.9 lakh warrants worth Rs 85 crore to three proposed promoter allottees.
• Pitti Engineering: Dakshin Foundry merger becomes effective from Sept 23, 2026. All assets, liabilities and litigations of Dakshin Foundry vest with Pitti Engineering.
• Karnataka Bank: Approves appointment of Biji S S as Executive Director.
• Aarti Pharmalabs: Shareholders approve appointment of Rashesh C Gogri as MD effective Oct 1. Hetal Gogri Gala redesignated as Whole-time Director from MD effective Oct 1.
• Motilal Oswal Financial Services: Arm gets SEBI approval to act as custodian of securities.
• Vadilal Industries: Ind-Ra places bank loan facilities on Rating Watch with Negative Implications.
• Cupid: Aditya Kumar Halwasiya acquires 11 lakh shares in open market; promoter holding rises to 47.44%.
• Canara Bank: CareEdge assigns BBB+/Stable rating to $3 billion MTN programme.
• BGR Energy Systems: Reappoints Arjun Govind Raghupathy as MD for five years till November 2031. Approves raising unsecured loans from MD, promoter and promoter group. Appoints Arjun Govind Raghupathy as permanent chairman of Raghupathy Group board.
• Ashoka Buildcon: Acquires 100% stake in Sakoli Power Transmission for Rs 3.06 crore. Scheduled commercial operation timeline of 24 months from SPV acquisition.
• REC: Sells two subsidiaries, Barmer HVDC and Sakoli Power Transmission.
• Solar Industries: ICRA assigns [ICRA]A1+ rating to Rs 500 crore commercial paper. Notes proposed $1.35 billion Omnia acquisition.
• Jaykay Enterprises: Promoter group subscribes to 19.45 lakh additional rights shares. Rights issue listing and trading process underway; issue comprises up to 2.06 crore partly paid-up equity shares.
• Central Bank of India: Government extends tenure of Mahendra Dohare as Executive Director by three years.
• PNC Infratech: CARE places Rs 1,700 crore long-term and Rs 5,000 crore short-term facilities on negative watch.
• Bank of Baroda: Government extends Executive Director Lal Singh's tenure until Jan 31, 2027.
• UCO Bank: Government extends tenure of Executive Director Vijaykumar Nivrutti Kamble.
• IRCON International: Tribunal awards Rs 23.64 crore against claim of Rs 359.72 crore in arbitration related to Work Package T-74R-A. IRCON to challenge award before Delhi High Court.
• SBFC Finance: India Ratings affirms Prime Trust SBL Aug 22 Series A1 securitised notes at IND AA(SO)/Stable.
• AGI Greenpac: Shareholders approve appointment of Shashvat Somany as Director and Joint Managing Director effective Oct 1, 2026.
• Max Estates: Signs binding MoU for proposed JDA on ~9.76-acre land parcel in Ghaziabad. Project has ~1.5 million sq ft development potential and estimated GDV of Rs 2,500-3,000 crore; structured on capital-light model.
• Power Grid: Acquires project SPV Barmer HVDC Power Transmission for Rs 18.98 crore.
• Ravindra Energy: Approves merger of Energy In Motion into company.
• Ola Electric: Seeking board approval for proposed rights issue; route being considered for participation by eligible shareholders.
• Indosolar and Waaree Energies: Approves draft scheme of amalgamation of Indosolar with Waaree Energies.
• Veranda Learning: Approves issuance of NCDs worth Rs 143 crore. Fixes Oct 6 as record date to ascertain shareholders eligible to receive one share of JSCEL.
• Borosil: Work on third double-wall line underway; commercial production expected by January 2027. Revised timeline due to logistical and supply-chain constraints.
• Hikal: Shareholders approve appointment of Sameer Hiremath as CMD for five years.
• Decor paper: India extends anti-dumping duty on Chinese decor paper till March 2027. Duty was imposed in December 2021 at $110-$542 per tonne.
• Aluminium foil: DGTR recommends five-year extension of anti-dumping duty on aluminium foil imports from China, Thailand, Malaysia and Indonesia.
• Shriram Properties: Targets more than doubling net profit and sales bookings by FY29; explores mall-led rental income in Bengal.

Board Meeting

Minda Corporation: To consider fund raising.

IPO Opening

Moneyview: Fintech company providing digital financial services through its mobile platform, including personal loans, credit tracking and financial management services.

A-One Steels India: Backward-integrated steel manufacturer producing long and flat steel products, including HR and CR coils, pipes, galvanized tubes and TMT bars, as well as met coke and silicon manganese/ferrosilicon.

Sonaselection India: Integrated fabric manufacturing and processing company producing cotton, cotton lycra, cotton blends and polyester blends.

IPO Listing

National Stock Exchange of India: India's largest stock exchange and a multi-asset exchange platform providing trading, clearing, settlement, listing, market data and index services.

AGM/EGM

SAIL, Gujarat Fluorochemicals, Sansera Engineering, Acutaas Chemicals, Welspun Living, Vijaya Diagnostic Centre, SignatureGlobal, Indraprastha Medical, IRCON International, Max Estates, RateGain Travel, KRBL, Religare Enterprises, Powerica, Relaxo Footwears, Novartis India, Rossell Techsys, MSTC, Jai Balaji Industries, Saatvik Green Energy, Rolex Rings, RattanIndia Power, RattanIndia Enterprises, Sunteck Realty, HeidelbergCement India, Borosil, Medi Assist Healthcare, Asian Energy Services, Landmark Cars, PTC India Financial Services, Indokem, Vidhi Specialty Food Ingredients, Tarsons Products and Ruby Mills.

Bulk/Block Deals

• Welspun Living: Welspun Group Master Trust sold 2.45 crore shares at Rs 214.90/share. Fidelity Investment Trust Fidelity International Small Cap Fund bought 2.22 crore shares at Rs 214.90/share. Quant Mutual Fund bought 22.29 lakh shares at Rs 214.90/share.
• Texmaco Infrastructure & Holdings: Zuari Industries bought 1.28 crore shares at Rs 115.02/share. Zuari International sold 1.28 crore shares at Rs 115.02/share.
• Agi Infra: Infinite Derivatives LLP sold 13 lakh shares at Rs 272.62/share. Thakkar Nileshkumar Farshuram HUF sold 7 lakh shares at Rs 271/share. Arihant Capital Markets bought 58,077 shares at Rs 271.72/share.
• Anlon Healthcare: HRTI sold 82,579 shares at Rs 29.02/share. Irage Broking Services sold 8.59 lakh shares at Rs 28.92/share. QE Securities sold 1,630 shares at Rs 28.93/share.
• GCSL: Mansukh Securities & Finance bought 34,623 shares at Rs 644.11/share.
• Glass Wall Systems (India): Irage Broking Services sold 2.61 lakh shares at Rs 292.62/share. QE Securities sold 5,279 shares at Rs 301.52/share. Plutus Research sold 12,298 shares at Rs 290.88/share. Elixir Wealth Management bought 7,972 shares at Rs 299.90/share. Dipan Mehta Commodities bought 7,500 shares at Rs 300.56/share. Jump Trading Financial India bought 2,406 shares at Rs 289.24/share. Irage Broking Services also bought 2.61 lakh shares at Rs 291.52/share.
• GNA Axles: Seehra Maninder Singh sold 5.84 lakh shares at Rs 563.14/share.
• Gujarat Themis Biosyn: L7 Hitech sold 6.53 lakh shares at Rs 410.72/share.
• Hero Motors: Irage Broking Services sold 13.23 lakh shares at Rs 91.74/share. Yuga Stocks and Commodities bought 10 lakh shares at Rs 93.85/share. Irage Broking Services also bought 13.13 lakh shares at Rs 92.07/share.
• Kross: QE Securities sold 2,279 shares at Rs 273.66/share. HRTI sold 1,319 shares at Rs 273.95/share.
• Man Industries: HRTI bought 16,357 shares at Rs 952.17/share.
• Marine Electrical: KDU Enterprises sold 42 lakh shares at Rs 386.48/share. SBI Funds Management bought 11.55 lakh shares at Rs 394.79/share. Setu Securities sold 2 shares at Rs 398.92/share.
• Motisons Jewellers: Tradexa Nova bought 1.51 crore shares at Rs 18.87/share. L7 Hitech sold 1.10 crore shares at Rs 18.90/share. Arihant Capital Markets sold 8.52 lakh shares at Rs 18.44/share.
• Optiemus Infracom: Bank of India Mutual Fund bought 17.69 lakh shares at Rs 815.68/share.
• Ratnaveer Precision Engineering: Thakkar Nileshkumar Farshuram HUF bought 4.50 lakh shares at Rs 329.99/share. Bloomcrest Trade sold 5 lakh shares at Rs 330.02/share. Jainam Broking sold 5.02 lakh shares at Rs 329.98/share.
• TruAlt Bioenergy: Siddhisuri Finvest bought 4.73 lakh shares at Rs 420.17/share.
• Westlife Foodworld: Admas Industries bought 8.90 lakh shares at Rs 599.78/share.
• Allied Blenders and Distillers: Bina Kishore Chhabria sold 55 lakh shares at Rs 650.17/share. SBI Mutual Fund bought 34.01 lakh shares at Rs 650/share. Abu Dhabi Investment Authority bought 15.03 lakh shares at Rs 650/share.
• Escorts Kubota: HDFC Mutual Fund sold 16.21 lakh shares at Rs 2,794/share. Nippon India Mutual Fund bought 12.95 lakh shares at Rs 2,794/share.
• Meesho: RPS WOS II LLC sold 3.86 crore shares at Rs 233/share.
• Molbio Diagnostics: Business Excellence Trust III sold 29.97 lakh shares at Rs 1,315/share. Kotak Mahindra Mutual Fund bought 27.50 lakh shares at Rs 1,315/share.

Insider Trading

• Alembic Ltd.: Nirayu Private Limited, Promoter Group, bought 65,981 shares.
• SAR Auto Products Ltd.: Shreyas Rameshbhai Virani, Promoter & Director, sold 1,400 shares.
• 63 Moons Technologies Ltd. Prakash B Shah, Promoter Group, sold 20,000 shares.
• Speciality Restaurants Ltd.: Anjan Chatterjee, Promoter & Director, bought 7,245 shares.
• BMW Ventures Ltd.: Shivansh Kishorepuria, Promoter Group, bought 95,437 shares.

List of securities shortlisted in Short - Term ASM Framework

• Astec LifeSciences Limited
• Centum Electronics Limited
• INDO-MIM Limited
• Protean eGov Technologies Limited

F&O Cues

• Nifty Sept futures is up 0.26% to 23,410.00 at a premium of 9 points.
• Nifty Options 29nd Sept Expiry: Maximum Call open interest at 24,000 and Maximum Put open interest at 23,000.                    

Securities in ban period:

Kaynes Tech, LIC Housing Finance, Manappuram Finance, SAIL

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