Market Morning Notes For 11th September 2024
Markets rebounded on back of gains in Asian markets with Nifty ending higher over 100 points on back of lower Brent crude prices and accommodative stance expectation from the U.S Fed. The concern for Indian markets comes through weakness in dollar index as surge in JPYINR may trigger direct unwinding from Japanese investor who had aggressively increased allocation to Indian markets in the past few years. A USDJPY move below 143 is already hinting a major crisis in global bond markets as it may lead to carry trade unwinding. For Nifty, a move below 25,000 is seen as a major breakdown in near term with implied target towards 22,500.Nifty 50 ChartStocks to watchPositive Read throughPaint Cos, OMCs – Brent crude falls below USD 70 for the first time in 3 years.Reliance – Reliance Retail & Delta Galil form 50/50 JV for an apparel innovation platform.Premier Explosives – MoU with Astra Micro to develop & sell multiple products jointly.OIL India – OIL, OVL & KABIL – Sign Mou with IRH, UAE for critical mineral supply chain.Voda Idea – Promoters up stake, company in discussion with banks for debt funding.Zydus Life – Announces completion of phase II(A) clinical trial of ALS drug Usnoflast.Lemon Tree – Signs new property in Mira Road, Mumbai, expected to open in FY26.Ramco Sys – Launches aviation software 6.0 for smarter aircraft management.Gensol Engg – Company & Matrix bag project to setup green hydrogen valley project in Pune.Jubilant Ph – USFDA classifies company’s manufacturing unit in Spokane, Washington as VAI.Goa Carbon – Resumes operations at Goa unit oil India.Bombay Dyeing – Japan’s Sumitomo Corp acquires land in Worli for Rs. 4.40 bn.CESC – Arm to set up 300 MW solar PV power project.Inox India – Gets patent for cryogenic liquid-based storage unit.Bajaj Auto, Hero, TVS, Ola – Government likely to announce subsidy schemes for EV, as per reports.Negative Read throughONGC, Oil – Brent crude falls below USD 70 for the first time in 3 years.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.
