Category: Markets

Sequent Scientific shares jumped 9% on September 15 after the company announced the sale of its API facility in Thane. The sale is expected to generate proceeds of around Rs 150 crore, which the company plans to use to reduce debt and invest in new growth initiatives. Sequent Scientific is an animal health company that is well-positioned to benefit from the growing demand for animal healthcare products in India and other emerging markets.

The rupee traded in a narrow range against the US dollar in early trade on Friday, as the support from positive domestic equities was negated by elevated crude oil prices and strong American currency. The rupee is likely to trade with a slight negative bias on expectations that the US dollar may rise further. However, any intervention by the Reserve Bank of India and positive domestic markets may support the rupee at lower levels.

Asian stocks rose on Friday, led by gains in China, after better-than-expected economic data and expectations that central bank tightening cycles were nearing their end. The dollar held near a six-month high against major peers, while the euro slipped after the ECB signaled that Thursday's rate hike was probably the last this cycle.

Oil prices rose to a 10-month high on Friday, supported by China's move to boost its economy and expectations that major global interest rate hike cycles were nearing their end.

The Indian equity markets closed on a positive note on September 14, with the Nifty50 index closing at a fresh record high of 20,103. The market breadth was positive, with the advance-decline ratio standing at 1.4. The Nifty50 formed a spinning top candle on the daily charts, which is a neutral signal. However, the index closed above the 20,000 level, which is a positive sign. The market is likely to remain rangebound in the near term. Investors should adopt a cautious approach and avoid taking any large positions.

Crude oil prices have surged to above $90 per barrel due to Saudi Arabia's production cuts. However, the high prices are expected to be temporary as other producers, such as Russia and Iran, are likely to increase their output. Prices are expected to fall back to $75 per barrel by next year.

The Sensex and the Nifty edged higher on September 14, tracking gains in global markets. The top gainers on the Sensex were Dalmia Bharat Sugar, UPL, CONCOR, and IRCTC. The market sentiment was positive, with investors encouraged by the positive news flow from corporate earnings and economic data. However, some concerns remain about the rising inflation and the potential impact on global growth.

The Indian stock market ended marginally higher on September 14, with the Sensex rising 52 points and the Nifty gaining 33 points. The market opened on a strong note and touched record highs, but profit-taking by investors in heavyweights trimmed the gains. The sectoral analysis showed that oil & gas, realty, metal and PSU Bank gained, while FMCG index ended with marginal cut. The outlook for the market is positive, and the Nifty is expected to test the 20,300 level in the near term.

Signature Global is raising Rs 730 crore through an IPO. The offer opens on Sept 20 and closes on Sept 22. Retail investors can bid for a minimum of Rs 13,908. Proceeds will be used to repay debt, fund land acquisition, and for general corporate purposes. The company has a strong track record and a diversified portfolio of projects.

Sugar stocks in India surged on September 14 after officials cut Maharashtra state's sugar output forecast by 14% for the 2023/24 crop year. DAM Capital initiated coverage on sugar stocks with a "buy" rating on all four, citing declining production, El Nino, ethanol blending and valuations as reasons for its bullishness. The brokerage believes that sugar prices could rise to Rs37 per kg in the domestic market in the next 12 months.