Indian equities poised for muted gains this year; volatility to rise: Reuters poll
India’s equity market will post only minimal gains for the rest of the year amid rising volatility, according to strategists polled by Reuters who cautioned the risks to that lackluster outlook were…
Gland Pharma gets USFDA nod for generic of Naropin, reported CNBC-TV18.
Gland Pharma was quoting at Rs 2,382.65, up Rs 27.05, or 1.15 percent.
DreamFolks Services IPO shares trade with 20% premium in grey market
The initial public offering of DreamFolks Services has been receiving good response in the grey market, following the improved secondary market sentiment and may be after a healthy subscription garnered by Syrms SGS Technology IPO.
Equity shares of the airport service aggregator platform traded with around 20 percent premium in the grey market, over its upper end of the issue price band, analysts told Moneycontrol.
The grey market is an unofficial platform for trading in IPO shares. Generally unofficial trading in IPO shares begin at the time of price band announcement by the company and continues till the listing company’s shares on the bourses.
V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services:
The steady buying by FIIs even in the midst of strengthening the Dollar is significant from the market perspective. There is a near consensus now that India will be an outperformer in the deteriorating global growth environment. So, FII inflows will be more country specific rather than emerging market oriented.
The near-term market trend will be influenced by the observations of the Fed Chief Jerome Powell on Friday. If the Fed Chief sounds ultra-hawkish, that would be a dampener for markets. On the other hand if he sounds optimistic on the growth front and on containing inflation that would be a bullish message.
Financials and capital goods continue to be investable segments. IT valuations are attractive.
Inflows into dedicated India funds at multi-quarter highs: EPFR Global
Cameron Brandt, director of research at EPFR Global, says institutional investors still have their faith intact in China due to Beijing’s political will and fiscal firepower
Reserve Bank to bring down inflation to 4 percent in two years
The Reserve Bank of India aims to reduce retail inflation to its mandated target of 4 percent in the next two years, governor Shaktikanta Das has said. Consumer price inflation, the main anchor of the central bank’s monetary policy, was at 6.71 percent in July, dropping below 7 percent for the first time in four months, but still above the Reserve Bank’s upper tolerance limit of 6 percent.
DreamFolks Services IPO opens today | Should you subscribe to the issue?
As the air travel industry recovers sharply from the Covid-19 uncertainties, KRChoksey Resarch is optimistic, saying the company is well-poised for the upcoming growth opportunities owing to its…
Gainers and Losers on the BSE Sensex in the early trade:
Market Opens: Indian indices opened flat on August 24 amid weak global cues.
The Sensex was down 16.32 points or 0.03% at 59014.98, and the Nifty was up 2.20 points or 0.01% at 17579.70. About 1419 shares have advanced, 501 shares declined, and 116 shares are unchanged.
Trade Spotlight | What should you do with RBL Bank, IDFC First, Selan Exploration Technology on Wednesday?
IDFC First Bank was the third largest gainer in the F&O segment, climbing 5.5 percent to Rs 46.05, the highest closing level since February 11. The stocks has seen a Bullish Engulfing candlestick…
Indian markets likely to open lower on the back of weak global cues: ICICI Direct
Indian markets are likely to open lower on the back of weak global cues as worries about an economic slowdown and tighter monetary policy weighed on sentiments.
US markets ended lower amid worries about an economic slowdown and tighter economic policy.
Rupee Opens:
Indian rupee opened marginally higher at 79.82 per dollar on Wednesday versus Tuesday’s close of 79.86.