Market Bizzz

Axis Securities has highlighted its top conviction ideas in the banking space across Tier 1 banks, PSU banks, and mid-sized banks, reflecting growth visibility and margin resilience.

Foreign Institutional Investors (FIIs) have continued their selling trend in August, offloading equities worth ₹25,564 crore, bringing the year’s total to ₹1,57,440 crore. High valuations in India compared to other emerging markets and concerns over IT sector growth are key drivers. However, a potential rate cut by the Federal Reserve may ease the selling pressure.

The Dow Jones Industrial Average rose 846.24 points, or 1.89%, to 45,631.74, surpassing its most recent record close on December 4, 2024. The S&P 500 gained 96.74 points, or 1.52%, to 6,466.91 and the Nasdaq Composite gained 396.22 points, or 1.88%, to 21,496.54.

Federal Reserve Chair Jerome Powell hinted at potential interest rate cuts, emphasizing labor market vulnerabilities amidst accelerating inflation. He suggested a cautious approach, citing a shifting balance of risks and a slowdown in job growth. While acknowledging inflation concerns, Powell downplayed the long-term impact of tariffs, signaling a measured path toward easing monetary policy.

Sebi has proposed introducing a closing auction session (CAS) to determine share prices, initially for derivative stocks, with plans to extend it to all stocks later. The move aims to address concerns about operational complexity for passive funds. Sebi suggests extending the CAS framework to all highly liquid stocks to streamline execution for passive funds.

Wipro is set to acquire Harman’s Digital Transformation Solutions (DTS) for $375 million, enhancing its Engineering Research & Development services. The deal brings over 5,600 DTS employees across the Americas, Europe, and Asia to Wipro. DTS, with a strong presence in multiple countries and diverse sectors, reported a revenue of $314.5 million in CY24.

Apollo Hospitals’ promoters are reportedly planning to sell a stake worth ₹1,395 crore through a block deal, potentially impacting the stock’s performance. The floor price is expected to be ₹7,747 per share, a 2% discount from Thursday’s closing. Suneetha Reddy may sell up to 1.25% equity.

Vedanta announced a second interim dividend of Rs 16 per share for FY26, totaling Rs 6,256 crore, with a record date of August 27, 2025. This follows a previous dividend of Rs 7 per share. Despite rewarding shareholders with a high dividend yield, Vedanta faces regulatory hurdles.

IndusInd Bank’s share price is likely to remain in focus as the lender resolves legacy issues in its treasury and microfinance businesses. The board has also cleared the appointment of veteran banker Rajiv Anand as MD & CEO.

Insurance stocks like SBI Life and HDFC Life will be in focus after a GoM proposed exempting GST on individual health and life insurance premiums. The move, part of GST 2.0 reforms, could ease costs for policyholders and improve sector outlook, pending council approval.