Market Morning Notes For 10th September 2024
Markets rebounded from lows to end in the positive terrain led by gains from Nifty Bank while broader markets continued to remain under pressure. Midcap and Small cap index ended in the red. The global markets are currently anticipating 50 bps cut in rates in the upcoming Fed policy scheduled next week and in case of 25 bps cut, markets could see trigger kneejerk reaction. Meanwhile, for the Indian markets the risk remains elevated due to formation of expanding triangle and a move below 25,000 has opened gates for a significant downside in the near term.Nifty50 ChartStocks to watchPositive Read throughHero Moto – Ather energy files DRPH for IPO, fresh issue Rs. 31 bn.Tata Power – commences production of solar cells at manufacturing plant in Tirunelveli, Tamil Nadu.GMR Airports – to acquire 10 pct stake in Delhi international airport for $126 mn.Bikaji, Gopal Snacks – GST on extruded namkeen snacks cut to 12% from 18%.Ireda – Signs mou with SJVN & GMR for 900 mw hydropower project in Nepal.IRB Infra – August gross toll collection up 20.5 pct at Rs. 5026 mn vs Rs. 4172 mn.Ahluwalia- Bags two orders worth 13.07 bn for group housing projects.Dixon Tech – Arm in mou with HP India to manufacture notebooks, desktops, PCs.Ace – Bags order from defence ministry for supply of 99 forklifts.Easy Trip – To consider multiple acquisitions on september 13 bd meet.Hg Infra – Gets loa for a ham project worth Rs. 7.81 bn from road transport min.Zaggle – Entered into an agreement with HDFC ergo for its reward platform.Lemon Tree – Signs a new property in Nashik, expected to open in FY26.Negative Read throughAdani Group – Kenyan court grounds proposal to invest in biggest airport.Financial planning platform where you can plan all your goals, cash flows, expenses management, etc., which provides you advisory on the go. Unbiased and with uttermost data security, create your Financial Planning at Rs. 2499/-Disclaimer: The views shared in blogs are based on personal opinions and do not endorse the company’s views. Investment is a subject matter of solicitation and one should consult a Financial Adviser before making any investment using the app. Making an investment using the app is the investor’s sole decision, and the company or its communication cannot be held responsible for it.
