Market Morning Notes For 26th August 2024

Markets managed to extend gains around 1% for the week on the back of Fed minutes pointing out to rate cut in September, which helped Nifty to cross 24,800. However, although the implied volatility has dropped below 13.5, the realized volatility of average 30 days has been trading above 13.5 and has been rising. This behaviour indicates markets are in complacent mode and a move below 24665 is likely to trigger sharp downswing in the coming days.Nifty 50 ChartStocks to watchPositive Read throughIT stocks – Time has come for policy to adjust rates: Powell, $ index at 13-month low.JSW Energy – Arm gets LoA for 250 MW wind power project from Adani Electricity.Lemon Tree – Signs licence agreement for 175- room property in Surat, Gujarat.PTC Ind – Acquires hot rolling mill to boost manufacturing of titanium alloy for aerospace & defence.Akum – Posted positive EBITDA vs EBITDA loss, sales rose 5.1 pct YoY.BEL – To be included in Nifty 50 effective September 30.Trent – To be included in Nifty 50 effective September 30.Ashoka – Emerges as lowest bidder for project worth Rs. 4.78 bn from MMRDA.ONGC – Starts production from 5th oil well in kg- dwn-98/2 cluster-2 asset.Nykaa – Harinderpal Singh Banga sold 1.4 pct stake via block, GS, Kotak MF among buyers.Max Estates – Gets NOIDA nod for Delhi one project.Ambuja – Promoter sold 2.84 pct stake via block, GQG, NPS trusts among buyers.Uno Minda – JV begins operation at raj plant, annual capacity at 3.84 lk units/month.Alembic Pharma – Gets US FDA approval for betamethasone valerate foam.IDFC – Gets income tax refund of Rs. 2.02 bn for AY23-24.KEC Intl – Bags orders worth Rs. 10.79 bn in T&D & cables businesses.Negative Read throughDivi’s Labs – To be excluded from Nifty 50 effective September 30.DRL – US FDA issues form 483 with 3 observations for manufacturing unit at Srikakulam.Tata Tech – Alpha TC Holdings sold 2.4 pct stake via block at Rs. 1,013.9/sh.LTIMindtree – To be excluded from Nifty 50 effective September 30.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.