Market Bizzz

“The market at this point..(is) pretty much pricing in a soft landing, and pricing in that we have defeated inflation, and that the Fed will be able to lower rates without causing a bunch of harm to the economy”, said Liz Young Thomas, head of investment strategy at SoFi in New York.

In a stock exchange filing, Sequent Scientific said its board has approved a proposal to merge Viyash Life Sciences and its group companies, and its wholly owned subsidiary Sequent Research with it.

​​Europacific Growth Fund, Greater India Portfolio, Capri Global Holdings and Morgan Stanley Asia Singapore Pte were among the buyers in the deal. Shares of Nuvama Wealth Management rose 0.99% to close at Rs 6,837.15 on Friday.

The benchmark Sensex surged 666 points to a new record high on Thursday, driven by buying in auto and banking stocks, buoyed by gains in global markets. Notable performers included Paytm, PB Fintech, and EaseMyTrip.

Saj Hotels’ SME IPO opens for subscription today and will close on October 1. The company aims to raise Rs 27.6 crore by issuing 42.5 lakh shares at a price band of Rs 435-458 each. The proceeds will be used for property expansion, working capital, and other corporate purposes.

Anand Tandon, an independent analyst, discusses the current robust market sentiment despite new IPOs from companies like Swiggy and Hyundai. He highlights the cyclical nature of brokerage businesses and suggests looking at housing finance companies over real estate stocks. Tandon also sees strong support for gold due to central bank buying.

The dollar held steady after its biggest rally since June, as traders awaited speeches from key Federal Reserve policymakers for clues on interest rate cuts. Investors reassessed the aggressiveness of future rate reductions, with Fed officials showing differing views. The dollar index eased slightly, while other major currencies saw minor changes.

Five stocks, including Aditya Birla Fashion and Retail, Granules India, Hindustan Copper, Vodafone Idea, and Indian Energy Exchange, are under F&O trade ban on Thursday. The ban occurs when open interest crosses 95% of market-wide position limits. It is lifted only if open interest falls below 80%. Nifty and Sensex closed at fresh highs despite a weak start.

On Wednesday, five stocks are subject to a F&O trade ban: Aditya Birla Fashion and Retail (ABFRL), Granules India, Hindustan Copper, Vodafone Idea, and Indian Energy Exchange (IEX).