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PRE-MARKET REPORT
The Indian equity market indices, Sensex and Nifty 50, are expected to open higher on Monday, extending its upward momentum seen last week, fuelled by an oversized interest rate cut by the US Federal Reserve.
Gift Nifty was trading around the 25,890 level, a premium of nearly 100 points from the Nifty futures’ previous close, indicating a gap-up start for the Indian stock market indices.
The US stock market ended mixed on Friday after a strong rally in the prior session, with the Dow Jones hitting a record.
The Dow Jones Industrial Average gained 38.17 points, or 0.09%, to 42,063.36, while the S&P 500 fell 11.09 points, or 0.19%, to 5,702.55 and the Nasdaq Composite declined 65.66 points, or 0.36%, to 17,948.32.
Asian markets traded lower on Monday ahead of central bank meetings and key economic data in the region. MSCI’s broadest index of Asia-Pacific shares outside Japan was little changed, after bouncing 2.7% last week.
Japan’s Nikkei was closed for a public holiday but futures were trading higher. South Korea’s Kospi fell 0.15% while the Kosdaq was flat. Hong Kong’s Hang Seng index futures indicated a lower opening. China CSI 300 futures were lower than their last close.
STOCKS TODAY
HFCL: The company has partnered strategically with General Atomics Aeronautical Systems, Inc. (GA-ASI) to develop and supply critical sub-systems for GA-ASI’s advanced unmanned aircraft systems (UAS).
Aster DM Healthcare: Through its wholly-owned subsidiary Sri Sainatha Multispecialty Hospitals, the company has entered into a lease agreement with Aparna Constructions and Estates to establish a new Aster Woman and Children Hospital in Hyderabad.
Vodafone Idea: The telecom operator has concluded a $3.6 billion (Rs 30,000 crore) deal with Nokia, Ericsson, and Samsung for the supply of network equipment over three years. The capital expenditure program aims to expand 4G population coverage from 1.03 billion to 1.2 billion, launch 5G in key markets, and expand capacity in line with data growth.
Oil and Natural Gas Corporation: Subsidiary ONGC Videsh has signed a non-associated gas deal in the Azeri-Chirag-Deepwater Gunashili (ACG) field in Azerbaijan. The non-associated natural gas (NAG) resources of ACG are estimated to be significant, with up to 4 trillion cubic feet (tcf) in place.
Glenmark Pharmaceuticals: The United States Food and Drug Administration (USFDA) has completed a Good Manufacturing Practice (GMP) inspection at the company’s formulation manufacturing facility in Chhatrapati Sambhaji Nagar (Aurangabad). The inspection, which was conducted from September 9-20, concluded with no observations.
Aarti Drugs: The USFDA inspected the company’s API manufacturing facility in Tarapur, Maharashtra, from September 12-20. After the inspection, the company received seven inspectional observations in Form 483, none of which are related to data integrity.