Top 10 things to know before opening bell on Friday
The S&P BSE Sensex rallied over 900 points while the Nifty50 closed above 17800 levels on Thursday
Bulls took control of D-Street on Thursday pushing Sensex, and Nifty50 to fresh record highs. The S&P BSE Sensex rallied over 900 points while the Nifty50 closed above 17800 levels.
The S&P BSE Sensex hit a fresh high of 59957 while the Nifty50 hit a high of 17843. Sectorally, the action was seen in realty, banks, energy, and finance stocks.
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“The realty sector was up more than 8% followed by the financial service & Commodities index. Nifty Bank gave good 853 points rally up 2.24%. The momentum could continue
“The momentum might continue on Friday, and we might see markets making new all-time high. Nifty might touch the 18000-mark on Friday. The realty stocks are in focus due to improvements in China`s Evergrande Group and as registration jumps due to a cut in Stamp duty,” he said.
Stay tuned to Zeebiz.com to find out what could impact your trade today. We have collated a list of top 10 news points which could impact markets, companies, or the economy:
Wall Street:
On Thursday, the Dow Jones Industrial Average rose 506.50 points, or 1.48%, to 34,764.82, the S&P 500 gained 53.34 points, or 1.21%, to 4,448.98 and the Nasdaq Composite added 155.40 points, or 1.04%, to 15,052.24.
Asian Markets:
SGX Nifty opened with minor gains at 17,861.80. At 7.15 am, the index lost the minor initial gains and was trading at 17,852.00. Japanese NIKKEI 225 kicked off to a great start at 30,208.50, up 569.10 points or 1.92% gains.
SGX Nifty:
Trends on SGX Nifty indicate a positive opening for the index in India with about 60 points gain. The Nifty futures were trading at 17,859.50, up 30.50 points or 0.17% on the Singaporean Exchange around 07:20 hours IST.
PM meets American CEOs, Qualcomm keen on 5G tech in India
In the first leg of his US visit, Prime Minister Narendra Modi, on Thursday met leading US CEOs in Washington. He held one-on-one meetings with CEOs of semiconductor and wireless technology manufacturer Qualcomm, software company Adobe, renewable energy company First Solar, arms manufacturer General Atomics, and investment management company Blackstone.
Read on PM meets American CEOs, Qualcomm keen on 5G tech in India | Zee Business
FPIs stock holding value soars to $630 billion
Even as foreign funds are getting jittery about the domestic market due to the steeply higher valuation amid the massive market rally, their holding in the domestic equities rose to $630 billion as of August, according to a American brokerage report, BofA said.
Govt committed to ensuring affordable healthcare for citizens: PM Modi
Prime Minister Narendra Modi on Thursday said it is the government''s commitment to ensure top quality and affordable healthcare for citizens. The scheme provides health insurance of up to Rs 5 lakh to the poor households.
M-cap of BSE-listed firms touch Rs 261.73 lakh cr
The market capitalisation of BSE-listed companies reached an all-time high of Rs 261.73 lakh crore on Thursday, helped by a massive rally in the equities where the benchmark Sensex zoomed 958 points to end at a fresh lifetime peak.
Rupee rebounds 23 paise to close at 73.64 against US dollar
The rupee rebounded by 23 paise to close at 73.64 against the US dollar on Thursday following an improved risk appetite among investors triggered by positive global cues, said a PTI report. "Rupee traded higher near 73.60 on back of strong inflow in capital markets led by realty this time," Jateen Trivedi, Senior Research Analyst at LKP Securities, said. "The price of the dollar index too stayed sluggish as the FED did not have any hawkish stance in the concluded meeting keeping the dollar index stable. Going ahead the range for rupee can be seen between 73.45-73.75,"he said.
Paras Defence IPO Subscription Status: 304 times oversubscribed
Paras Defence IPO has received massive investor interest. The initial public offer of Paras Defence and Space Technologies received a whopping 304.05 times subscription so far on the closing day on Thursday. The Qualified Institutional Buyers (QIBs) category was subscribed 169.65 times, non-institutional investors a massive 927.70 times, and Retail Individual Investors (RIIs) 112.39 times.
FII & DII Data:
Foreign portfolio investors (FPIs) remained net buyers for Rs 357.93 cr in the Indian markets while Domestic Institutional Investors (DIIs) were net buyers to the tune of Rs 1173 cr, provisional data showed on the NSE.
Sansera Engineering to make Dalal Street debut on September 24:
Sansera Engineering will get listed on the stock exchanges on September 24. The Rs 1,283 crore public issue during September 14-16 was subscribed 11.47 times and garnered Rs 10,329.62 crore.
Sansera Engineering Limited is an engineering-led integrated manufacturer of complex and critical precision engineered components across the automotive and non-automotive sectors is debuting on 24th September.
"The company has a strong financial background though they saw a setback in FY20 on the back of Covid-19. The IPO is valued at 35x to its FY21 earnings which are in line with its peers however, there is a scope of 5-10% listing gain," Santosh Meena, Head of Research, Swastika Investmart Ltd.
"The company is highly dependent on few customers and there is a risk of an increase in prices of raw materials," he said.
(With inputs from PTI, Reuters and other agencies)
(Disclaimer: The views/suggestions/advices expressed here in this article is solely by investment experts. Zee Business suggests its readers to consult with their investment advisers before making any financial decision.)
07:29 AM IST