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On September 5, the two key equity benchmarks, Sensex and Nifty, logged their third-straight gains led by pharma, FMCG, and select IT stocks. The S&P BSE Sensex closed 152 points up at 65,780. On the other hand, the NSE Nifty settled with a gain of 46 points at 19,575.
Further, data released by S&P Global on Tuesday showed that India’s services sector’s purchasing managers’ index (PMI) fell to 60.1 in August, down from 62.3 in July. However, the seasonally adjusted services PMI index displayed a record-strong increase in output, not seen for more than a decade.
Here are some important factors that can impact the market on September 6.
Looking ahead, several key macroeconomic indicators will be closely monitored by investors, including forex reserves data, Eurozone S&P global composite PMI, UK Services PMI, Euro Zone Q2 GDP, US factory orders, S&P global US services PMI, crude oil prices, and the activities of foreign and domestic investors. As per analysts, these factors are expected to have a significant impact on the market.
Notably, India’s GDP recorded a growth of 7.8 per cent during the first quarter of fiscal 2023-24, compared to the 6.1 per cent growth in the preceding January-March quarter of fiscal 2022-23. India’s robust economic performance stands out as China’s post-pandemic recovery has slowed down, making India as one of the fastest-growing major economies.
In addition, the S&P Global India manufacturing PMI continued to expand in August, reaching a three-month high of 58.6, up from 57.7 in July. However, India’s fiscal deficit for April-July widened to Rs 6.06 lakh crore, marking a 33.9 per cent increase compared to the previous year. The growth rate of the eight core sectors in July was 8 percent, slightly lower than the 8.2 percent posted in June.
In other news, the National Stock Exchange (NSE) has imposed trading restrictions on a total of 6 stocks within the futures and options (F&O) segment for the September 6 trade, reported Mint. This action was taken because these securities have surpassed 95 per cent of the market-wide position limit (MWPL). It’s important to note that these stocks will remain available for trading in the cash market.
The six stocks that have been included in the F&O ban list by the stock exchange for Wednesday are BHEL, India Cements, Delta Corp, Hindustan Copper, Balrampur Chini Mills Limited, and Indiabulls Housing Finance. The NSE regularly updates the list of securities under the F&O ban for daily trading.
IPOs and Debuts
Ratnaveer Precision Engineering IPO, a mainboard offering, will run from Monday, September 4, to Wednesday, September 6. Jupiter Life Line Hospitals IPO, also a mainboard IPO, is scheduled for subscription from Wednesday, September 6, until Friday, September 8.
Additionally, the SME IPO for Kahan Packaging will open on Wednesday, September 6, and conclude on Friday, September 8. Sahaj Fashions shares are set to be listed on the NSE SME platform on Wednesday, September 6.
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