Market Bizzz

It occurs when the opening price is the lowest for a given period, and the closing price is the highest.

State-owned NBCC (India) Ltd has approved the issuance of bonus shares in a 1:2 ratio, utilising Rs 90 crore from free reserves. The company will distribute 90 crore bonus shares, with October 7, 2024, set as the record date. This move aims to boost shareholder value and reflects the company’s strong financial position.

In August, Foreign Portfolio Investors (FPIs) were net buyers of Indian equities at Rs 7,320 crore, increasing their 2024 total to Rs 42,886 crore. FPIs’ recent activity shows a fluctuating trend, with notable purchases in July and February-March, and sales in April-May and January.

The month ended as well; Nifty posted a monthly gain of 284.75 points (+1.14%) The markets are in a strong uptrend; however, once again it has created a situation wherein they have sharply deviated from their mean.

The personal consumption expenditures report came on Friday after Fed Chair Jerome Powell last week expressed support for an imminent policy adjustment. Economic data next week includes the Labor Department’s August jobs report, due on Friday.

The Nifty gained 0.3%, or 83.95 points, to close at 25,235.9. The Sensex rose 0.3%, or 231.16 points, to close at 82,365.77. Analysts expect the indices to gain up to another 2% on technical factors but warn against betting on one-sided moves in the near term amid continued concerns that parts of the market might be overheated. The outcome of the rate-setting meetings of US Fed and the Bank of Japan scheduled in September will determine the market direction next month.

“Given the need to ensure that only high quality stocks with sufficient market depth are allowed to trade in derivatives segment and considering the growth witnessed in market parameters since the last review conducted in 2018, the eligibility criteria for entry and exit of stocks in derivatives segment has been revised,” Sebi said in a circular on Friday.

​Of course, we can debate the valuations and things like that, but fundamentally IT as a business should do well in the near future. As far as FMCG is concerned, the reason, again, I must mention that rural demand was really-really weak and that has now started improving. The green shoots are visible.

Puneet Chhatwal, MD & CEO of IHCL, discusses the expected long-term growth in India’s hospitality sector. He highlights the increasing demand for talent and business travel, and IHCL’s strategy of launching and re-imagining properties. Chhatwal anticipates significant contributions to the economy, with double-digit growth fueled by innovative initiatives and strong market demand.

This means today will be the last day to buy the shares of these companies in order to be able to qualify for the dividends announced by them.