What changed your market while you were sleeping

Two companies – Dixon Technologies and Bharat Road Network – are headed to the market with their initial share sale offers this week to raise an estimated Rs 1,200 crore. NSEBSETapariaLoading data…

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    ChartsValuation & Peer ComparisonCommunity BuzzPEER COMPANIESMotilal OswalLoading data…

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      ChartsValuation & Peer ComparisonCommunity BuzzPEER COMPANIESInfosysLoading data…

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        ChartsValuation & Peer ComparisonCommunity BuzzPEER COMPANIESAvanti FeedsLoading data…

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          ChartsValuation & Peer ComparisonCommunity BuzzPEER COMPANIESAdani EnterprisesLoading data…

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            ChartsValuation & Peer ComparisonCommunity BuzzPEER COMPANIESAvanti FeedsAdani EnterprisesEXPAND TO VIEW ALL A fresh nuclear test by North Korea on Sunday and claims that it also possesses a hydrogen bomb has left financial markets jittery and Dalal Street may feel the heat on Monday. Let’s check out what all might influence market direction through the day:

            Singapore trading sets stage for negative opening
            At 7.45 am, Nifty50 futures on the Singapore Stock Exchange were trading 18 points, or 0.18 per cent, down at 9,996, indicating a negative opening for the domestic market.

            Nifty formed bullish candle on daily chart
            Chandan Taparia of Motilal Oswal Securities said the index has decisively surpassed its immediate hurdle at 9,928-9,950 on Friday and saw the highest daily close in last 16 sessions.

            “It has been making higher lows since last three sessions and needs to hold above 9,928 to extend its upward move towards 10,020 and 10,050 levels, while on the downside, supports are shifting higher to 9,900 and then 9,850 levels,” he said.

            Markets to feel North Korean missile tremors
            North Korea conducted its sixth and most powerful nuclear test on Sunday in a dramatic escalation of the regime’s standoff with the US and its allies, Reuters reported. The announcement from Pyongyang came a few hours after international seismic agencies detected a manmade earthquake near the North Korea’s test site, which Japanese and South Korean officials said was around 10 times more powerful than the tremor picked up after its last nuclear test a year ago.

            Cabinet reshuffle: Piyush Goyal new Rail minister
            Nirmala Sitharaman emerged as the biggest gainer in Sunday Cabinet reshuffle, as Prime Minister Narendra Modi entrusted her with the heavyweight defence portfolio, while Piyush Goyal replaced Suresh Prabhu in Railway Ministry in a major rejig that saw the induction of nine new faces. Sitharaman, who was holding the commerce portfolio as a minister of state, was elevated along with Goyal, Dharmendra Pradhan and Mukhtar Abbas Naqvi to the Cabinet ranks.

            Apex Frozen Foods to debut today
            Apex Frozen Foods, a smaller peer to listed Avanti Feeds, is scheduled to make debut on the bourses on Monday, September 4. The recently-concluded IPO of the company was well received by investors, with the issue getting subscribed 6.10 times. It will be listed and admitted to dealings on the exchanges in the list of ‘T’ Group of Securities.

            NRN, Nilekani offer to sell Rs 2,038 crore shares
            Infosys promoters, including iconic co-founders N R Narayana Murthy and Nandan Nilekani, have offered to sell as many as 1.77 crore shares – worth up to Rs 2,038 crore – in the company’s Rs 13,000 crore buyback offer. At a buyback price of Rs 1,150 per share, this could mean a windfall of Rs 2,038.94 crore for the promoters, if all the shares tendered by them are accepted in the buyback offer.

            Adanis at odds with Queensland over royalties
            Adani Enterprises appears to be at odds with the state of Queensland over royalties for its Carmichael coal project, according to a media report, just days after the company said it would soon break ground on the Australian mine.

            Eyes on 2 IPOs this week
            Two companies – Dixon Technologies and Bharat Road Network – are headed to the market with their initial share sale offers this week to raise an estimated Rs 1,200 crore. The IPOs of will be open for subscription from September 6 to 8. Dixon Technologies, a consumer electronics manufacturer, has fixed the IPO price band at Rs 1,760-1,766 per share and aims to raise about Rs 600 crore.

            Asian markets weaken on Korea shock
            Asian stocks dipped in early trade on Monday following a fresh escalation in tension on the Korean Peninsula. Japan’s Nikkei did not take the news of a fresh nuclear test well, losing 0.5 per cent. MSCI’s broadest index of Asia-Pacific shares outside Japan dipped 0.3 per cent with South Korea’s main index Kospi slipping 1.2 per cent, Reuters reported.

            US stocks ended modestly higher on Friday
            The Dow Jones Industrial Average index rose 39.46 points, or 0.18 per cent, to settle at 21,987 on Friday. The S&P500 index gained 4.9 points, or 0.20 per cent, to end at 2,476. The Nasdaq Composite index added 6.67 points, or 0.1 per cent, to close at 6,435.

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