Market will open with a gap-down as US futures tumbled on the news of drone attack. Saudi Arabia's oil industry came under a direct attack on Saturday as Yemen's Iran-aligned Houthi group carried out drone attacks on Aramco oil plants.
Global oil prices surged the most on record after a drone strike on a Saudi Arabian oil facility removed about 5 % of global supplies. Haven asset, gold surged on concern over the geopolitical fallout from the attacks.
The unprecedented move in oil reverberated around financial markets. U.S. equity futures declined, while shares in Asia opened flat.
The last week rally was supported by hope of more economic revival measures from government and likely rate cut after inflation remained under RBI target. Globally, easing US-China trade tensions and ECB stimulus lifted sentiment. The Federal Open Market Committee's two-day meeting on September 17-18 will be a key to watch out for this week as majority of economists and experts globally largely expect another 25 bps rate cut after 25 basis points rate cut in July, the first since financial crisis in December 2008. But the recovery from the global war cricis will be crucial for our markets.
🎯 News & Impact 🎯
Saudi Arabia's oil industry came under a direct attack on Saturday as Yemen's Iran-aligned Houthi group carried out drone attacks on Aramco oil plants which will shake investors' confidence and it will fuel up more pessimism.
Negative for the market. 👎
🎯 Real Estate stocks :
Finance Minister Nirmala Sitharaman announced announced the creation of a special fund to provide financing to the many stalled affordable and middle-income housing projects in the country. The government will contribute Rs 10,000 crore to the fund, and expects a similar-sized contribution from external entities such as Life Insurance Corporation, banks, sovereign.
Positive for the sector. 👍
🎯 Prabhat Dairy :
Board approved delisting proposal of the company.
🎯 Equitas Holdings :
SEBI has returned the draft scheme for listing of Equitas Small Finance Bank and advised to company to resubmit the same after ensuring compliance with norms.
🎯 Texmaco Rail & Engineering :
Board sets Rights Issue price at Rs. 46.7 per share seeking to raise Rs.200 crore.
🎯 Cox & Kings Financial Service :
Board has approved the surrender of NBFC license of the company considering the ongoing challenges and slowdown in NBFC environment.
🎯 Bharat Electronics :
Company won orders worth Rs.5,357 crore for Akash Missile Systems for Indian Air Force.
🎯 TV Today Network :
HDFC Mutual Fund increased its stake to 9.25 % from 7.15 % in the company.
🎯 Emami Paper Mills :
Board of Directors have approved surrender of land in Gujarat allotted by GIDC for Greenfield Expansion Project.
🎯 Alembic-Demerger :
Cost of acquisition for Alembic’s equity share at 98.84 % and the remaining stake will be 1.16 % towards preference shares of Shreno.
🎯 Hudco :
Company received loan sanctions of Rs. 6,793.21 crore and loan releases of Rs 5,160.94 crore as on Aug. 31.
🎯 Info-Edge :
Company increased its stake to 32.85 % in ShoeKonnect for Rs 4 crore.
🎯 Emami Paper Mills :
Surrender of plots allotted by Gujarat Industrial Development Corporation (GIDC), Gujarat for Greenfield Expansion Project.
🎯 Mahindra & Mahindra :
Company to observe no production days between 8-17 days for automotive and farm equipment sector.
🎯 SML Isuzu :
Company has decided to shut its chassis manufacturing plant in Punjab from Sept. 16-21. Need based production will continue for Bus Body Division.
🎯 Eveready Industries & McLeod Russel :
High Court of Calcutta has passed an ad-interim order of injunction by which, the company has been restrained from transferring, alienating or encumbering any of its assets till the disposal of the said application in reference to a matter filed against some of the promoters of the company with regards to certain alleged dues.
🎯 Monsanto India and Bayer CropScience :
The National Company Law Tribunal (NCLT) has on September 13, approved the scheme of amalgamation of Monsanto India with Bayer CropScience.
🎯 BEML :
Company set up bogie traction motor run test facility for metro at its manufacturing unit at Bengaluru complex.
🎯 Usha Martin :
Company promoter Peterhouse Investments sold 3.05 lakh shares from Sept. 11-12.
Negative for the stock. 👎
🎯 Aarti Industries :
Company promoter Chandrakant Vallabhji Gogri sold 2.1 lakh shares from Sept. 9-12.
Negative for the stock. 👎
✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒
Edited by Sharp.
No comments:
Post a Comment