Market Bizzz

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.

The share allotment for Tolin Tyres IPO is expected to be finalized today. Investors can check their allotment status through the BSE or the registrar’s website. The company’s shares are set to list on September 16, with a GMP of Rs 30. The IPO was subscribed nearly 24 times, driven by strong demand.

Swiggy plans to increase the fresh issue component of its upcoming IPO to ₹5,000 crore and will seek shareholder approval at an EGM on October 3. The company initially aimed to raise ₹3,750 crore in fresh capital. Swiggy recently reported a 36% rise in operating revenue and a reduced net loss for the year ended March 31, 2024.

3 stocks’ close prices crossed above their 200 DMA (Daily Moving Averages) on September 10.

Aashish Somaiyaa, CEO of WhiteOak Capital AMC, provides an analysis of trends in financial services, IT, and auto sectors. He explains that the auto sector is normalizing after a difficult period from 2018 to 2020. Financial services and industrials show promise amid changing macroeconomic conditions. Somaiyaa also says that they are benefiting from sector rotation at play.

Seven stocks, including Aditya Birla Fashion and Retail, Balrampur Chini, and Bandhan Bank, are under F&O trade ban on Monday. The ban occurs when open interest crosses 95% of market-wide positions limits. Indian benchmark indices Sensex and Nifty fell on Friday due to investor caution ahead of a key U.S. jobs report.

Vedanta and five other companies are in focus today as they have set September 10 as the record date for determining shareholders eligible for dividend payments. Vedanta announced a third interim dividend of Rs 20 per share for FY 2024-25. Other companies like DAPS Advertising, Manali Petrochemicals, MSTC Ltd, National Plastic Technologies, and Syrma SGS Technology also declared dividends.

Oil futures surged by a dollar on Monday as a potential hurricane approached the U.S. Gulf Coast, and markets rebounded from a selloff due to weak U.S. jobs data. West Texas Intermediate crude rose 1.48% to $68.67 a barrel, while Brent crude increased 1.39% to $72.05 a barrel.

Despite a 1.43% decline in the Sensex for the week ending September 6, nine penny stocks surged between 10% and 55%. These stocks, with market capitalizations below Rs 1000 crore and share prices under Rs 20, saw significant gains. Notable performers included Deep Diamond India with a 53% gain and RISA International with a 25% increase.

The Sensex ended a three-week winning streak with a 1.5% loss amid weak global cues and lack of favorable domestic news. Key factors to watch this week include Fed rate cut hopes, IPOs, crude oil rates, FII activity, global macroeconomic data, inflation data, and technical support levels for the Nifty index.