Category: Markets

Private equity investors TPG, Tepco, and Brookfield are in advanced talks to acquire a minority stake in JSW Neo Energy, a subsidiary of JSW Energy. The deal is expected to be finalized in the coming weeks and could be worth up to $500 million. The investment is a vote of confidence in the Indian renewable energy sector and will help JSW Energy to expand its renewable energy portfolio.

The promoter group of Adani Enterprises has increased its stake in the company to 71.93% from 69.87%. The promoter group has also increased its stake in Adani Ports and Special Economic Zone Ltd to 65.23% from 63.06%. This comes within weeks of the US-based boutique investment firm GQG Partners buying shares in Adani group firms. GQG has so far invested Rs 38,700 crore in Adani Group firms. Qatar Investment Authority (QIA) has invested Rs 4,100 crore in Adani Green Energy and Bain Capital has poured in Rs 1,440 crore.

Over 90% of stocks in Nifty 500, MidCap 100, and SmallCap 100 are trading above their 200-day moving average (DMA), indicating that the market is nearing an overbought zone. Analysts warn of a potential correction in the near term, but say that the long-term outlook for the market remains positive. Investors should take a cautious approach and look for buying opportunities during any corrections.

Asian equities edged lower on Monday ahead of key inflation data from the US and the Federal Reserve's next monetary policy decision. Investors are expecting the Fed to raise rates by 25 basis points in September, but the timing of any further hikes is uncertain. The strength of the US dollar is also weighing on sentiment in Asia.

Ashish Kyal, CMT, Founder & CEO of Waves Strategy Advisors, expects the Nifty50 to touch 20,100 and the Bank Nifty to 45,700 in September. He also sees double-digit returns from Godrej Properties and Affle India.

Oil prices edged lower in early Asian trade on Monday, but stayed above $90 a barrel, supported by tightening supplies after Saudi Arabia and Russia extended supply cuts. However, concerns about the economic outlook in China, the world's biggest oil importer, weighed on sentiment. The International Energy Agency and the Organization of the Petroleum Exporting Countries (OPEC) are due to release their monthly reports this week, which could provide more clarity on the outlook for oil demand.

The Nifty50 index closed above 19,800 on Friday, its highest level since July 2022. The rally was broad-based, with all 15 sectors ending in the green. The market was supported by strong buying in heavyweights such as Reliance Industries, Infosys, and HDFC Bank. Technically, the Nifty is now eyeing the 20,000 milestone. Investors should not become complacent and wait for dips to initiate fresh longs.

The Indian stock market is expected to continue its upward momentum in the coming sessions, with the Nifty50 index likely to touch the 20,000 level. However, some consolidation is also possible before the index reaches this level. The market is currently in a bullish trend, with the Nifty50 forming higher highs and higher lows. The immediate support for the index is at 19,700, and the key resistance is at 19,865. Investors should monitor the key factors that could impact the market, such as the outcome of the US Federal Reserve's policy meeting and the release of key economic data.

The Nifty50 and the Sensex rose 1.97% and 1.85%, respectively, on positive data points, including a strong GDP growth and PMI reading, as well as sustained buying by domestic institutions. Analysts expect the market to consolidate in the near term, but with the potential for further gains in the medium term.

the Indian stock market is on a bullish trend, supported by positive domestic and global factors. However, there are some risks to watch out for, such as the ongoing selling by foreign institutional investors and the weak Indian rupee.