Pre Market Analysis 15-09-2021

Market Opening - An Overview

Nifty futures on the Singapore Exchange were trading 0.14% higher at 17,414.50, signalling that Dalal Street was headed for a positive start on Wednesday.

Indian rupee closed flat on Tuesday at 73.68 against the US dollar.

Chinese shares fell, tracking the US indices, on concerns over global economic recovery. Hang Seng fell 0.71% and CSI 300 dropped 0.57%. Japanese shares opened lower as investors booked profits. Nikkei was down 0.52% and Topix was 1.01% lower.

India’s goods export was worth $33.38 billion in August, up 45.76% year-on-year (YoY), amid robust external demand, according to data by the commerce and industry ministry. Merchandise imports rose to $47.09 billion in August, up 51.72% YoY, resulting in a trade deficit of $13.81 billion, which was the highest in the last four months.

FII/DII trading data on Wednesday (14-09-2021)

CategoryBuy ValueSell ValueNet Value
*All numbers are in INR crore

Stocks in News Today

State Bank of India: The PSB will cut its base lending rate by 5 basis points (bps) to 7.45%, with effect from September 15. It will also cut its prime lending rate by 5 bps to 12.20%.

HAL: The company and Rolls-Royce signed a pact for Make-in-India Adour engine parts to support the latter’s international defence customer base. Rolls-Royce aims to strengthen the ecosystem for Adour engines in India by building on HAL’s existing capabilities for manufacturing and supporting the Adour engines for Indian customers in the coming decades.

Reliance Infrastructure: The company’s chairman Anil Ambani said it would utilize the amount of Rs 7100 crore to be received from DMRC, following the recent Supreme Court judgement, to repay its debt. He  said that the company’s new growth engines would be power distribution business as the new Electricity Act will open up a plethora of opportunities, new contracts in EPC Business and defence manufacturing business.

Zee Entertainment Enterprise: The company’s MD Punit Goenka said it is embarking on a new path under ‘ZEE 4.0’ and it aims to enhance profitability and continue to grow ahead of the industry. “This new chapter, titled ZEE 4.0, encompasses a new pattern of thoughts, a new wave of emotions, a new connection with our consumers and partners, and a new strategic vision for growth,” he added.

YES Bank: The private lender and six other persons settled a case with SEBI with respect to an alleged selective disclosure of asset quality by paying Rs 1.65 crore towards settlement amount. The order comes after the entities approached the market regulator to settle the proceedings initiated against them “without admitting or denying the findings of fact and conclusions of law”, through a settlement order.

CarTrade Tech: The company has launched a tailor-made one-stop service for buying and selling pre-owned cars across nine cities, a release said.  The cities are Mumbai, Bangalore, Surat, Kanpur, Noida, Chennai, Bhopal, Kolkata and Ahmedabad. The newly-launched offline and online retail platform CarWale abSure’ will offer services such as free home car inspection, loan closure assistance, guaranteed ownership transfer and assured payments within 24 hours post-inspection, among others.