Market Bizzz

The Reserve Bank of India announced that there will be no transactions in government securities, foreign exchange, money markets, and rupee interest rate derivatives on September 18 due to a public holiday in Maharashtra for Eid-e-Milad. The previously declared holiday on September 16 has been canceled.

The markets reached new lifetime highs last week, with the Nifty closing at a fresh peak. Despite a strong trend, caution is advised due to significant deviation from the mean and potential for profit-taking. Key resistance and support levels are outlined for the coming week.

According to a circular uploaded on BSE’s website, the company has allotted 87.02 lakh equity shares to 15 funds at Rs 263 apiece, which is also the upper end of the price band. This aggregates the transaction size to Rs 229 crore.

European stocks ended the week positively, driven by technology, real estate, and mining shares. The STOXX 600 index rose 0.7%, with German shares leading gains. Investors are now focused on the U.S. Federal Reserve’s upcoming meeting, anticipating a potential rate cut. ECB policymakers remain optimistic about lower inflation and interest rates in the euro zone.

In a regulatory filing on Friday, the airline said shareholders have given their nod for the special resolution for raising funds of up to Rs 3,000 crore.

On the technical charts, the RSI of the stock stood at 69.69.

A total of 153,846 shares changed hands on the counter till 12:12PM (IST).

Sandip Sabharwal discusses the subdued outlook for crude and oil prices due to excess capacity and upcoming LNG projects. He highlights the potential outperformance of defensive sectors like FMCG and pharma, while also noting the challenges faced by Zee Entertainment and private sector banks. Key beneficiaries of lower crude prices include aviation and auto companies.

Anshul Saigal from Saigal Capital suggests that investors should focus on rural discretionary companies, FMCG, and microfinance for potential gains. He believes that despite a tendency to hold cash, certain market segments could deliver significant returns by year-end in this market. Saigal stresses the importance of discerning investments amid broader economic concerns.

Seven stocks, including Aarti Industries and Bandhan Bank, are under F&O trade ban due to high open interest. The ban is lifted only if the open interest falls below 80%. Indian equity indices ended lower on Wednesday amid volatility, influenced by auto, metal, and banking stocks ahead of key US inflation data.