After falling for two straight weeks, markets ended the week ended 9th September on a positive note, with Sensex and Nifty both managing to raise as much as 1.7% for the week.
And this momentum was seen across sectors as well. Apart from the Nifty Auto index, all major sectoral indices closed the week in green.
On the macroeconomic front, all eyes will be on the latest inflation numbers as India, the US, Japan, UK and Eurozone will be releasing the inflation numbers for the month of August. The inflation in the month of July had eased to 6.7% from 7% in India in July and to 8.5% from 9.1% in the US. But had soared to 10.1% in the UK and 9.% in the Eurozone, as the European continent battles soaring energy prices.
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CPI Inflation (AUG)
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WPI Inflation (JUL)
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Industrial Production (JUL)
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Jobless Claims
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CPI Inflation (AUG)
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PPI (AUG)
Crude Oil Inventories
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Its about the Yes Bank , its obvious in the coming trading day’s History in Yes Bank Price action will be repeated !! Yes bank on the verge of upside Breakout!!
India’s foreign exchange reserves dropped to their lowest since October 2020 to $553.1 billion in the week ended Sept. 2, a decline of almost $8 billion from the previous week, as RBI proactively intervened to aid the local currency in the face of a surging dollar.
Hiring activity in India has flattened 3% across industries as India Inc began taking a deliberate hiring route amid recession fears and inflation concerns in August. Jobs in India are expected to pick up in the coming quarter on the back of ongoing festive demand and positive sentiments. : Monster.com
Chennai Petroleum Corp, Western Coalfields, and National Fertilizers are among 19 CPSEs that returned to profit in FY21 from loss, data from the Public Sector Enterprises Survey 2020-21 shows.
The UK economy grew 0.2% in July (MoM), lower than the estimate of 0.4% as sharp rise in energy tariffs is hurting demand for electricity and a leap in the cost of materials hitting the construction sector.
Nifty and Sensex extended gains for the fourth session with Nifty closing above 18,000 mark. Dow and Nasdaq futures are trading lower, indicating a negative opening for US markets
Brent Crude: 95.27 1.14% USD INR Spot: 79.1475 -0.47% India 10Y Bond yield: 7.109 -1.00%
The organized retail sales volume in the top 8 Indian cities is estimated to grow at a CAGR of 17% from USD 52 billion in FY 2022 to USD 136 billion by FY 2028 and Retail sales in shopping malls across top eight cities are expected to grow 29% annually to reach USD 39 billion by 2027-28.
Retail businesses in India reported a 15% rise in sales compared to pre-pandemic levels. East India’s sales rose by 19% in August 2022, whereas South India increased by 12%, North India jumped by 18%, and West India grew by 11%: Retailers Association of India study.
JSW Steel announced a $1.26 billion investment with Germany’s SMS group to cut down carbon by 42% to less than 1.95 tonnes of carbon dioxide per tonne of crude steel by 2030.
India’s palm oil imports jumped 87% from the previous month to the highest level in 11 months, owing to a sharp drop in pricing, which prompted refiners to boost purchases: As per the Solvent Extractors’ Association of India.
US CPI came in higher at 8.3% YoY vs an expected 8.1% and August CPI came in at 0.1% MoM vs an expected -0.1%.
India’s Wholesale Price Inflation eased to a 11-month low of 12.41% in August as prices of manufactured and fuel products eased, even as food items remained expensive. The WPI Inflation has remained in double digit for the past 17 months.
India’s exports rose marginally by 1.62% to $33.92 billion and imports rose by 37.28% to $61.9 billion, doubling the trade deficit to $27.98 billion in August as per the data released by the commerce ministry. Trade deficit in August 2021 stood at USD 11.71 billion.
Borrowing cost for the states fell for the fourth consecutive week as the weighted average cut-off eased 6 bps to 7.46% at the weekly auctions on Tuesday. Ten states have raised Rs. 10,500 crore at the latest auction of SDLs, which is 1.5% higher than indicated in the borrowing calendar, a first in a couple of years.
Investments by private equity and venture capital funds plummeted 80% to $2.2 billion in August, a 19-month low. The month recorded the highest ever exit at $3.1 billion, making it the best month from sell-offs perspective, according to the report by industry lobby IVCA and the consultancy firm EY.
UK’s inflation eased to 9.9% in August but remains close to the previous month’s 40-year peak, as motor fuel prices fell, after accelerating to 10.1% in July as per the Office of National Statistics.
Benchmark indexes failed to sustain early gains and nosedived from day’s highs, closing the session down around 0.7%. US markets look set for a mixed start.
Brent Crude: 93.09 -1.46% USD INR Spot: 79.6975 0.32% India 10Y Bond yield: 7.242 1.22%
Share of India’s petroleum products in exports jumped to their highest level ever at 21.2% during April-August period due to higher international energy prices and cheaper crude oil sourced from Russia.
The gem & jewelry exports for the period April - August of FY23 saw a growth of 4.4% to US$ 16,695.56mn as compared to US$ 15991.68 mn for the same period last year, according to a media release issued by Gem & Jewelry Export Promotion Council (GJEPC).
Vedanta Resources, which have investments worth Rs. 80,000 crore in Odisha, plans to invest another Rs. 25,000 crore for expansion of its aluminum, ferrochrome and mining businesses in the state. Taking the contribution to nearly 4% of Odisha’s state GDP through its operations.
Milk procurement by milk producer companies, which are owned by farmers, is estimated to jump nearly 3-fold and touch Rs 18,000 crore in value terms in the next five years, according to NDDB.
Chinese yuan slid to 7 per US Dollar for the first time in more than two years as a fragile economy and strength in the greenback weighed on the currency
Singapore home sales fell 48% to 437 units in August to the lowest in more than two years as a lack of supply kept buyers at bay.
Yes bank on the verge of upside Breakout!!
Brent Crude: 93.57 1.59%
USD INR Spot: 79.5225 -0.07%
India 10Y Bond yield: 7.185 0.25%
HAL was the top gainer.
Indiabulls Housing Finance was the top loser.
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