Equity Indices Expected to Open Flat to Slightly Higher in Mixed Asian Markets


The trends on SGX Nifty indicate a cautious opening of the index in India with a gain of 18 points. Nifty futures were trading at 17,874 on the Singapore Stock Exchange around 7:30 am.

The S&P 500 and Nasdaq indices ended lower on Monday as investors turned to the stock as tech stocks, penalized by rising Treasury yields, weighed on stocks in the final week of the quarter.

The Dow Jones Industrial Average rose 71.37 points, or 0.21%, to 34,869.37; the S&P 500 lost 12.37 points, or 0.28%, to 4,443.11; and the Nasdaq Composite lost 77.73 points, or 0.52%, to 14,969.97.

Markets should open flat to positive

Indian markets could open flat to slightly higher, in line with mixed and stable Asian markets today and mixed US markets on Monday, said Deepak Jasani, head of retail, HDFC Securities.

“The Nifty is expected to open flat to positive at 17,895, up 40 points. For the last 2 trading days, Nifty has been posting profits from 17,950 levels. It is important that Nifty close above 17,950. with high volumes to continue rising On the downside, Nifty has support in the 17,680-17,720 range. Traders can use bottom buy with strict stoploss as a strategy in current markets, ”said Gaurav Udani, CEO and Founder of ThincRedBlu Securities.

Nifty finished flat on September 27 after entering and exiting positive territory. At the close, Nifty was up 1.9 points or 0.01% to 17,855.

Nifty was unable to cross the peaks on Friday September 27 and finished almost flat. The expected decline ratio deteriorated over the course of the day to end below 1: 1. The larger market sees a lack of buy / share as large caps see rotating auto buy back in favor as IT rolls out. However, large-scale sales have yet to be seen in the markets and, therefore, hopes that Nifty will reach the 18,000 level in the next few days still remain alive, Jasani said.

Sebi Board of Directors today

The board meeting of the Securities and Exchange Board of India (Sebi) is scheduled to be held today. It could consider raising the shareholding limit for stock exchanges, clearing houses and custodians. the relaxation of the ownership standards of mutual funds and the relaxation of the eligibility criteria for the issuance of shares with higher voting rights. He can also discuss ownership standards for IIMs.

Asia-Pacific stocks fall as trade begins

Asia-Pacific stocks fell broadly in trading on Tuesday morning as various companies lowered China’s GDP forecast. South Korea’s Kospi slipped 0.81%. In Japan, the Nikkei 225 fell 0.72% while the Topix index lost 0.99%. The S & P / ASX 200 in Australia plunged 0.28%.

China’s economic growth forecasts drop

Goldman Sachs cut China’s economic growth forecast for 2021 to 7.8% from 8.2% as energy shortages and sharp cuts in industrial production add “significant downward pressure.” he said in a note on Tuesday.

Goldman Sachs estimated that up to 44% of China’s industrial activity was affected, leading to a 1 percentage point drop in annualized GDP growth in the third quarter, and a 2 percentage point drop in October to December, he said.

Oil prices rise for fifth day in a row

Oil prices rose Monday for a fifth day in a row, with Brent at its highest level since October 2018 and heading towards $ 80, as investors worried about tightening supply due to rising demand in some parts of the world.

Brent crude rose $ 1.44, or 1.8%, to $ 79.53 a barrel, after posting three straight weeks of gains. U.S. crude futures rose $ 1.47, or 2%, to $ 75.45 a barrel, its highest level since July, after rising for a fifth straight week.

Employment figures rise to 29% in April-June

India reported a 29% increase in employment in nine industries, according to the All India Establishment-Based Quarterly Employment Survey for the April-June quarter of 2021. The survey has was conducted by the Labor Office to help the government assess job creation in nine sectors. sectors on a quarterly basis.

The survey covers establishments with more than 10 employees. The nine sectors selected are manufacturing, construction, commerce, transport, education, health, accommodation and food services, IT / BPO and financial services.

Chinese industrial firm’s profits rise at a slow pace in August

Profits of Chinese industrial companies rose at a slower pace in August compared to the previous year, slowing for a sixth consecutive month as manufacturers grapple with high commodity prices, COVID-19 and shortages of some key components.

Profits rose 10.1% year-on-year to 680.3 billion yuan ($ 105 billion) last month, from a gain of 16.4% in July.

The momentum of the world’s second-largest economy has weakened in recent months with its large manufacturing sector rocked by headwinds.

Sebi’s revised risk management framework

In order to protect the interests of investors and ensure that mutual funds provide a high quality service, the capital market regulator Securities Exchange Board Of India (SEBI) has developed a revised risk management framework.

The closure of bond programs by Franklin Templeton AMC has left many investors in deep trouble. After reviewing the mutual fund risk management framework in the Mutual Fund Advisory Committee (CCFM), the panel’s recommendations were incorporated by the regulator into the new risk management framework. (CGR).

Paradeep Phosphates gets green light from Sebi for IPO

Leading fertilizer company Paradeep Phosphates has received the green light from Sebi to mop up funds through an Initial Public Offering (IPO). The IPO includes a new issue of shares valued at Rs 1,255 crore and an offer to sell (OFS) of up to 1,200 35,800 shares by its existing shareholders and promoters, depending on the project. red herring prospectus (DRHP).

Under the OFS, Zuari Maroc Phosphates (ZMPPL) will offer up to 75.46,800 shares and up to 11.24.89,000 shares will be offered by the Indian government.

Eight stocks under F&O ban

Eight stocks – CANBK, ESCORTES, IBULHSGFIN, IDEA, IRCTC, PNB, SAIL & ZEEL are under F&O ban today.

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Posted on: Tuesday September 28th, 2021 08:57 IST


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