Indian mind Trades

Sumeet Bagadia, Executive Director at Choice Broking, believes the overall trend of the Indian stock market is bullish, and the Nifty 50 index is poised to touch 26,900 despite the 50-stock index closing red on Friday. The Choice Broking expert maintained that investors should maintain a buy-on-dips strategy until the frontline index exceeds the 26,000 mark. He said crucial support for the Nifty 50 index is placed at 25,800.

Indian stock market: The domestic equity indices, Sensex and Nifty 50, are expected to open higher on Thursday led by positive trends in the global markets.

What could push India’s equity market higher in the long run?

Both the BSE Sensex and the NSE index logged gains for the month and week, highlighting a positive market trend. Notably, the Nifty 50 achieved its best-ever daily winning streak, driven by US economic data that reduced growth concerns. This optimism also kept the Indian rupee stable against the US dollar at 83.8625, despite dollar demand from state-run banks balancing potential inflows into local equities. Meanwhile, bond markets showed stability with the benchmark 10-year bond yield steady at 8.8647%, with the benchmark yield falling for the second straight month. This decline comes in anticipation of US rate cuts starting in September, leading to a minor dip in the one-year overnight index swap rate by 1 basis point to 6.47%, while the five-year swap rate remained nearly unchanged at 6.05%.

Market Today Indian benchmark indices Sensex and Nifty 50 are likely to open lower on August 29, tracking cues from GIFT Nifty trading near 25,002.00, a short while ago this morning. Indian indices ended higher on August 28 with Nifty crossing its previous record high (25,078.30) and surpassed 25,100 for the first time led by Information Technology and pharma stocks. At close, the Sensex was up 73.80 points or 0.09 percent at 81,785.56, and the Nifty was up 34.50 points or 0.14 percent at 25,052.30. Hope you're all set for today's trade, we wish you a profitable day ahead.

https://www.livemint.com/market/stock-market-news/indian-stock-market-8-key-things-that-changed-for-market-overnight-gift-nifty-to-us-consumer-confidence-to-oil-prices-11724808792694.html

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https://www.livemint.com/market/stock-market-news/indian-stock-market-8-key-things-that-changed-for-market-over-weekend-gift-nifty-us-consumer-sentiment-to-gold-rate-11724030729597.html

https://economictimes.indiatimes.com/markets/stocks/news/ahead-of-market-10-things-that-will-decide-stock-action-on-monday/articleshow/112602189.cms?from=mdr

Thar Roxx: Nomura India said the initial response for Thar Roxx is likely to be strong, and it expects 50,000 bookings to come in on the first day itself i.e. October 3.

In an apparent attack on Leader of Opposition in Lok Sabha Rahul Gandhi, Vice President Jagdeep Dhankhar on Friday expressed concern that a person holding a constitutional position is asking the Supreme Court to take suo-moto cognisance to give wings to a "narrative aimed at destroying our economy". Dhankhar’s remarks came after the Congress on Sunday slammed the Modi government over the Hindenburg Research's allegations against SEBI chairperson Madhabi Buch, with Gandhi saying the integrity of the market regulator has been "gravely compromised" and demanded a JPC probe into the matter. Addressing the first batch of Joint Masters/LL.M degree in IP Law and Management at National Law University, Delhi, the Vice President without naming anyone said, "Last week, I got extremely worried when a person holding a constitutional position beseeched the Supreme Court to suo-moto invoke jurisdiction to give wings to a narrative aimed at destroying our economy."

Smartworks Coworking Spaces IPO Smartworks Coworking Spaces, which is backed by global asset manager Keppel, has filed preliminary papers with the capital markets regulator SEBI to mobilise funds through an initial public offering. The IPO is a mix of fresh issuance of equity shares worth Rs 550 crore, and an offer-for-sale (OFS) of 67.59 lakh equity shares by the existing equity shareholders. Promoters NS Niketan LLP and SNS Infrarealty LLP will be selling 16 lakh shares in the OFS, while the remaining 51.59 lakh shares will be sold by investor Space Solutions India Pte (formerly Lisbrine Pte). The Gurugram-based largest managed campus operator may also intend to raise Rs 110 crore via pre-IPO placement, prior to filing of the Red Herring Prospectus with the Registrar of Companies (ROC). If the pre-IPO placement is completed, the said amount will be reduced from the fresh issue.

MTNL clocked Rs 183.9 crore as revenue from operation for the June quarter, down by 7.8 percent on year, while the net loss narrowed to Rs 773.5 crore. The PSU telecom company posted an EBITDA loss of Rs 150 crore, unchanged from a year ago. MTNL also announced the sale of its stake in overseas arm Mahanagar Telephone (Mauritius), and said it has approved the sale of stake in its JV with STPI back to the partner. MTNL will also be closing its wholly-owned subsidiary Millennium Telecom. The telecom player also approved a service agreement with BSNL for 10 years.