The Indian equity market registered marginal gains in the holiday-shortened week ended September 9, witnessing consolidation after a sharp 3.5 percent surge seen in the previous week. Lack of fresh domestic triggers and subdued global cues resulted in a tepid action in the market.
The 30-share BSE Sensex rose 175.12 points to close at 58,305.07, and the 50-share benchmark index Nifty50 climbed 45.65 points to 17,369.25. However, the broader markets remained buoyant for the week, as the BSE Midcap and Smallcap indices jumped more than a percent each.
A mixed trend was seen on the sectoral front as pharma and banking ended with losses, while metal, FMCG, and telecom gained during the week gone by.
Read here:
“Nifty has been holding strong despite overbought positions however indications are in the favor of further consolidation or some profit-taking ahead,” said Ajit Mishra, VP Research. Religare Broking.
According to him, on the higher side, 17,500 would continue to act as a hurdle while 17,250-17,050 zone will provide support in case of any dip.
"We thus recommend maintaining extra caution and preferring hedged positions, especially for the leveraged trades. Among the sectors, we feel the performance of banking and auto would be critical as others have already been making a consistent contribution in the up move,” Mishra added.
Investors will focus on macroeconomic data, global cues and the pace of vaccination going ahead.
Here are key factors and events that Dalal Street investors will focus on in the upcoming week:
CPI/WPI Inflation
The Consumer Price Index (CPI) inflation data will be released on Monday, September 13, while the WPI inflation data is scheduled for Tuesday, September 14.
Economists expect the retail inflation to remain around 5.5 percent for August on the back of high global commodity prices.
Balance of Trade data, Forex reserves
The balance of trade data for August will be announced on Wednesday, September 15. The country’s foreign exchange reserves for the week ended September 10 will be released on Friday, September 17.
IPO
The Rs 1,283-crore initial public offering of auto-component maker Sansera Engineering will open for public subscription on September 14 and close on September 16.
The price band for the offer has been fixed at Rs 734-744 per equity share. The public issue is a complete offer for sale (OFS) of 1,72,44,328 equity shares by existing selling shareholders.
Read here: Sansera Engineering to launch Rs 1,283-crore IPO on Sept 14; price band fixed at Rs 734-744
Listing
The shares of Vijaya Diagnostic Centre and Ami Organics will make their debuts on the stock exchanges on September 14, Tuesday.
Their public issues closed for subscription on September 3. The final prices for the offers are likely to be fixed at Rs 531 per equity share and Rs 610 per share, respectively.
The IPO of diagnostic chain Vijaya Diagnostic Centre was subscribed 4.54 times, while that of specialty chemical company Ami Organics saw 64.54 times subscription.
FII/DII Flow
The foreign institutional investors (FII) turned net sellers in the week gone by as they net sold shares worth Rs 1,113.88 crore in the Indian market.
The domestic institutional investors (DII) were net buyers during the week, to the tune of Rs 1,115.55 crore worth of shares.
Technical View
A reasonable positive candle was formed on the daily chart, which indicates a continuation of range-bound action in the market. There was no sharp weakness on the day of the weekly F&O expiry of Thursday and sustainable buying has emerged towards the end.
“This could signal chances of an upside bounce in the coming sessions,” said Nagaraj Shetti, Technical Research Analyst, HDFC Securities.
Nifty on the weekly chart formed a small negative candle with minor upper and lower shadow on Thursday. Technically, Shetti believes this formation indicates a spinning top type candle pattern at the new highs.
He is of the view that the market could now shift into a broader high low range of around 17,600-17,200 levels by next week.
“The short-term trend of Nifty continues to be range-bound. Having recovered in the latter part of Thursday, there is a possibility of an upside bounce in the next early part of next week before encountering another resistance around 17,500-17,600 levels. Immediate support is placed at 17,200,” added Shetti.
Also Read: T+1 vs T+2 settlements: What may happen if two bourses offer same security with different systems?
Global Cues
United States:
European Region
Japan
China
Corporate Actions:
| COMPANY NAME | PURPOSE | EX-DATE |
| TIPS Industries | AGM/Dividend - Rs 2 Per Share | 13-Sep-21 |
| Fiem Industries | AGM/Dividend - Rs 16 Per Share | 13-Sep-21 |
| Suryoday Small Finance Bank | AGM | 13-Sep-21 |
| Shah Alloys | AGM | 13-Sep-21 |
| Manaksia | Dividend - Rs 3 Per Share | 13-Sep-21 |
| Manaksia Steels | AGM | 13-Sep-21 |
| Sterling Tools | AGM/Dividend - Re 1 Per Share | 13-Sep-21 |
| J.Kumar Infraprojects | AGM/Dividend - Re 1 Per Share | 13-Sep-21 |
| MphasiS | AGM/Dividend - Rs 38 Per Share/Special Dividend - Rs 27 Per Share | 13-Sep-21 |
| RattanIndia Enterprises | AGM | 13-Sep-21 |
| RattanIndia Power | AGM | 13-Sep-21 |
| S.A.L. Steel | AGM | 13-Sep-21 |
| Nectar Lifesciences | AGM | 13-Sep-21 |
| Quess Corp | AGM | 13-Sep-21 |
| RBL Bank | AGM | 13-Sep-21 |
| Alps Industries | AGM | 13-Sep-21 |
| Ganga Forging | Face Value Split (Sub-Division) - From Rs 10/- Per Share To Re 1/- Per Share | 13-Sep-21 |
| Honda India Power Products | AGM/Dividend - Rs 10 Per Share | 13-Sep-21 |
| Dalmia Bharat Sugar and Industries | Dividend - Rs 3 Per Sh | 13-Sep-21 |
| GATI | AGM | 13-Sep-21 |
| GOVERNMENT OF INDIA | Interest Payment | 13-Sep-21 |
| Donear Industries | AGM/Dividend - Rs 0.20 Per Share | 13-Sep-21 |
| Bliss GVS Pharma | AGM/Dividend - Rs 0.50 Per Share | 13-Sep-21 |
| Burnpur Cement | AGM | 13-Sep-21 |
| Central Depository Services (India) | AGM/Dividend - Rs 9 Per Share | 13-Sep-21 |
| Tree House Education & Accessories | AGM | 13-Sep-21 |
| Times Guaranty | AGM | 14-Sep-21 |
| Hindustan Copper | AGM/Dividend - Rs 0.35 Per Share | 14-Sep-21 |
| Taj GVK Hotels & Resorts | AGM | 14-Sep-21 |
| Worth Peripherals | AGM/Dividend - Re 1 Per Share | 14-Sep-21 |
| Shrenik | AGM | 14-Sep-21 |
| ITD Cementation India | AGM/Dividend - Rs 0.12 Per Share | 14-Sep-21 |
| Jamna Auto Industries | AGM/Dividend - Rs 0.50 Per Share | 14-Sep-21 |
| Mahindra Lifespace Developers | Bonus 2:1 | 14-Sep-21 |
| Maharashtra Seamless | Dividend - Rs 3.50 Per Share | 14-Sep-21 |
| Jindal Drilling And Industries | Dividend - Rs 0.50 Per Share | 14-Sep-21 |
| Superhouse | AGM/Dividend - Re 1 Per Share | 14-Sep-21 |
| Ndr Auto Components | AGM/Dividend - Re 1 Per Share | 14-Sep-21 |
| Apex Frozen Foods | AGM/Dividend - Rs 2 Per Share | 14-Sep-21 |
| Aries Agro | Dividend - Rs 0.80 Per Share | 14-Sep-21 |
| Arvind SmartSpaces | AGM | 14-Sep-21 |
| Dodla Dairy | AGM | 14-Sep-21 |
| Goa Carbon | AGM | 14-Sep-21 |
| Oswal Chemicals & Fertilizers | AGM | 14-Sep-21 |
| Gujarat Sidhee Cement | AGM | 14-Sep-21 |
| Finolex Industries | AGM/Dividend - Rs 2 Per Share/Special Dividend - Rs 2 Per Share | 14-Sep-21 |
| Tamil Nadu Newsprint & Papers | AGM/Dividend - Rs 3 Per Share | 14-Sep-21 |
| Techno Electric & Engineering Company | Dividend - Rs 4 Per Sh | 15-Sep-21 |
| HCL Infosystems | AGM | 15-Sep-21 |
| Windsor Machines | AGM/Dividend - Re 1 Per Share | 15-Sep-21 |
| West Coast Paper Mills | AGM/Dividend - Re 1 Per Share | 15-Sep-21 |
| Zensar Technologies | Dividend - Rs 2.40 Per Share | 15-Sep-21 |
| Universal Cables | AGM/Dividend - Re 1 Per Share | 15-Sep-21 |
| Tanla Platforms | AGM/Dividend - Re 1 Per Share | 15-Sep-21 |
| Repco Home Finance | AGM/Dividend - Rs 2.50 Per Share | 15-Sep-21 |
| Lasa Supergenerics | AGM/Dividend - Rs 0.25 Per Share | 15-Sep-21 |
| Infibeam Avenues | AGM/Dividend - Rs 0.05 Per Share | 15-Sep-21 |
| Shree Rama Multi-Tech | AGM | 15-Sep-21 |
| Shreyas Shipping & Logistics | Dividend - Rs 2 Per Share | 15-Sep-21 |
| Jagran Prakashan | AGM | 15-Sep-21 |
| Man Infraconstruction | AGM | 15-Sep-21 |
| Marksans Pharma | AGM/Dividend - Rs 0.25 Per Share | 15-Sep-21 |
| Max Ventures and Industries | AGM | 15-Sep-21 |
| Meghmani Finechem | AGM | 15-Sep-21 |
| Max Financial Services | AGM | 15-Sep-21 |
| Parenteral Drugs (India) | AGM | 15-Sep-21 |
| Meghmani Organics | AGM/Dividend - Rs 1.40 Per Sh | 15-Sep-21 |
| Mukta Arts | AGM | 15-Sep-21 |
| Kuantum Papers | AGM | 15-Sep-21 |
| Sandhar Technologies | AGM/Dividend - Re 1 Per Share | 15-Sep-21 |
| Amrutanjan Health Care | AGM/Dividend - Rs 2.60 Per Share | 15-Sep-21 |
| The Andhra Sugars | Dividend - Rs 10 Per Share | 15-Sep-21 |
| The Andhra Sugars | AGM | 15-Sep-21 |
| HSIL | AGM/Dividend - Rs 4 Per Share | 15-Sep-21 |
| De Nora India | AGM/Dividend - Re 1 Per Share | 15-Sep-21 |
| GOVERNMENT OF INDIA | Interest Payment | 15-Sep-21 |
| Gujarat Industries Power Company | Dividend - Rs 2.70 Per Share | 15-Sep-21 |
| Bharat Bijlee | AGM/Dividend - Rs 5 Per Share | 15-Sep-21 |
| eClerx Services | AGM/Dividend - Re 1 Per Share | 15-Sep-21 |
| Bharat Heavy Electricals | AGM | 15-Sep-21 |
| Birla Cable | AGM/Dividend - Re 1 Per Share | 15-Sep-21 |
| Gujarat Alkalies and Chemicals | AGM/Dividend - Rs 8 Per Share | 15-Sep-21 |
| Everest Kanto Cylinder | AGM/Dividend - Rs 0.30 Per Share | 15-Sep-21 |
| HBL Power Systems | Dividend - Rs 0.35 Per Share | 15-Sep-21 |
| Hindustan Construction Company | AGM | 15-Sep-21 |
| Vindhya Telelinks | AGM/Dividend - Rs 10 Per Share | 15-Sep-21 |
| TREJHARA SOLUTIONS | AGM | 16-Sep-21 |
| Vishwaraj Sugar Industries | AGM/Dividend - Re 1 Per Share | 16-Sep-21 |
| WABCO India | Dividend - Rs 11 Per Share | 16-Sep-21 |
| Wealth First Portfolio Managers | Dividend - Re 1 Per Share | 16-Sep-21 |
| Suzlon Energy | AGM | 16-Sep-21 |
| Talbros Automotive Components | AGM/Dividend - Rs 2.00 Per Share | 16-Sep-21 |
| La Opala RG | AGM/Dividend - Rs 1.50 Per Share | 16-Sep-21 |
| Oil India | AGM/Dividend - Rs 1.50 Per Share | 16-Sep-21 |
| Revathi Equipment | AGM | 16-Sep-21 |
| Ravi Kumar Distilleries | AGM | 16-Sep-21 |
| RKEC Projects | AGM/Dividend - Rs 1.20 Per Share | 16-Sep-21 |
| Indraprastha Medical Corporation | AGM | 16-Sep-21 |
| LIC Housing Finance | AGM/Dividend - Rs 8.50 Per Share | 16-Sep-21 |
| Somany Home Innovation | AGM/Dividend - Rs 0.30 Per Share | 16-Sep-21 |
| Spacenet Enterprises India | AGM | 16-Sep-21 |
| Ircon International | AGM/Dividend - Rs 1.32 Per Share | 16-Sep-21 |
| Shivam Autotech | AGM | 16-Sep-21 |
| Shradha Infraprojects | AGM | 16-Sep-21 |
| Shree Pushkar Chemicals & Fertilisers | AGM/Dividend - Re 1 Per Share | 16-Sep-21 |
| Magnum Ventures | AGM | 16-Sep-21 |
| Mahamaya Steel Industries | AGM | 16-Sep-21 |
| Manaksia Aluminium Company | AGM | 16-Sep-21 |
| Manaksia Coated Metals & Industries | AGM/Dividend - Rs 0.03 Per Share | 16-Sep-21 |
| Star Paper Mills | Dividend - Rs 2.50 Per Share | 16-Sep-21 |
| Mawana Sugars | Dividend - Rs 3 Per Share | 16-Sep-21 |
| Mawana Sugars | AGM | 16-Sep-21 |
| Oriental Trimex | AGM | 16-Sep-21 |
| Oswal Agro Mills | AGM | 16-Sep-21 |
| Paisalo Digital | AGM/Dividend - Re 1 Per Share | 16-Sep-21 |
| Palred Technologies | AGM | 16-Sep-21 |
| Panacea Biotec | AGM | 16-Sep-21 |
| MIRC Electronics | AGM | 16-Sep-21 |
| Petronet LNG | AGM | 16-Sep-21 |
| Kaushalya Infrastructure Development Corporation | AGM | 16-Sep-21 |
| Keerti Knowledge and Skills | AGM | 16-Sep-21 |
| Pearl Global Industries | AGM | 16-Sep-21 |
| The Phoenix Mills | AGM/Dividend - Re 1 Per Share | 16-Sep-21 |
| Pitti Engineering | AGM | 16-Sep-21 |
| Murudeshwar Ceramics | AGM | 16-Sep-21 |
| NACL Industries | AGM/Dividend - Rs 0.15 Per Share | 16-Sep-21 |
| Nagreeka Exports | AGM | 16-Sep-21 |
| Nahar Poly Films | Dividend - Rs 1.50 Per Share | 16-Sep-21 |
| Poly Medicure | AGM | 16-Sep-21 |
| Sakar Healthcare | AGM | 16-Sep-21 |
| Neogen Chemicals | Dividend - Rs 2.25 Per Share | 16-Sep-21 |
| Nila Spaces | AGM | 16-Sep-21 |
| Nitco | AGM | 16-Sep-21 |
| HOV Services | AGM | 16-Sep-21 |
| APL Apollo Tubes | Bonus 1:1 | 16-Sep-21 |
| Apollo Micro Systems | Dividend - Rs 0.25 Per Share | 16-Sep-21 |
| Archies | AGM | 16-Sep-21 |
| Aro Granite Industries | AGM | 16-Sep-21 |
| Arvee Laboratories (India) | AGM | 16-Sep-21 |
| Dhani Services | AGM | 16-Sep-21 |
| Astron Paper & Board Mill | AGM | 16-Sep-21 |
| Ice Make Refrigeration | AGM/Dividend - Rs 1.20 Per Share | 16-Sep-21 |
| ATN International | AGM | 16-Sep-21 |
| Aurionpro Solutions | AGM | 16-Sep-21 |
| Bal Pharma | AGM/Dividend - Re 1 Per Share | 16-Sep-21 |
| GIC Housing Finance | AGM/Dividend - Rs 4 Per Share | 16-Sep-21 |
| Globus Spirits | Dividend - Rs 2 Per Share | 16-Sep-21 |
| BLS International Services | AGM/Dividend - Rs 0.25 Per Share | 16-Sep-21 |
| Bodal Chemicals | AGM/Dividend - Rs 0.80 Per Share | 16-Sep-21 |
| Bharat Petroleum Corporation | AGM/Dividend - Rs 23 Per Share/Special Dividend - Rs 35 Per Share | 16-Sep-21 |
| Excel Realty N Infra | AGM | 16-Sep-21 |
| Excel Industries | Dividend - Rs 11.25 Per Share | 16-Sep-21 |
| Filatex India | AGM | 16-Sep-21 |
| ADF Foods | Dividend - Rs 3 Per Share | 16-Sep-21 |
| ADF Foods | AGM | 16-Sep-21 |
| Ahluwalia Contracts (India) | AGM | 16-Sep-21 |
| The Investment Trust Of India | AGM | 17-Sep-21 |
| Alankit | AGM/Dividend - Rs 0.20 Per Share | 17-Sep-21 |
| NXTDIGITAL | Dividend - Rs 4 Per Share | 17-Sep-21 |
| Olectra Greentech | AGM | 17-Sep-21 |
| Indoco Remedies | AGM/Dividend - Rs 1.50 Per Share | 17-Sep-21 |
| Shalby | AGM/Dividend - Re 1 Per Share | 17-Sep-21 |
| Iris Clothings | AGM | 17-Sep-21 |
| Simbhaoli Sugars | AGM | 17-Sep-21 |
| Jay Bharat Maruti | AGM/Dividend - Rs 1.25 Per Share | 17-Sep-21 |
| Mahanagar Gas | AGM/Dividend - Rs 14 Per Share | 17-Sep-21 |
| KDDL | AGM/Dividend - Rs 1.50 Per Share | 17-Sep-21 |
| Mohit Industries | AGM | 17-Sep-21 |
| MT Educare | AGM | 17-Sep-21 |
| Mukand Engineers | AGM | 17-Sep-21 |
| Nagarjuna Fertilizers and Chemicals | AGM | 17-Sep-21 |
| NCL Industries | AGM/Dividend - Rs 1 Per Share | 17-Sep-21 |
| Ratnamani Metals & Tubes | AGM/Dividend - Rs 14 Per Share | 17-Sep-21 |
| Hindustan Motors | AGM | 17-Sep-21 |
| DELPHI WORLD MONEY | AGM | 17-Sep-21 |
| 20 Microns | AGM | 17-Sep-21 |
| DRC Systems India | AGM | 17-Sep-21 |
| Goldstone Technologies | AGM | 17-Sep-21 |
| Bigbloc Construction | AGM/Dividend - Rs 0.25 Per Share | 17-Sep-21 |
| Biofil Chemicals & Pharmaceuticals | AGM | 17-Sep-21 |
| Ester Industries | AGM/Dividend - Rs 1.90 Per Share | 17-Sep-21 |
| Eurotex Industries and Exports | AGM | 17-Sep-21 |
| CESC | Face Value Split (Sub-Division) - From Rs 10/- Per Share To Re 1/- Per Share | 17-Sep-21 |
| Federal-Mogul Goetze (India) . | AGM | 17-Sep-21 |
| Ajooni Biotech | AGM | 17-Sep-21 |
| Tirupati Forge | AGM | 17-Sep-21 |
Check out our in-depth Market Coverage, Business News & get real-time Stock Market Updates on CNBC-TV18. Also, Watch our channels CNBC-TV18, CNBC Awaaz and CNBC Bajar Live on-the-go!
2024 Lok Sabha Elections | What does a low voter turnout indicate for NDA and I.N.D.I.A Bloc
Apr 29, 2024 5:48 AM
'Borrowed' leaders: Congress hits out at AAP for not fielding their own candidates in Punjab
Apr 28, 2024 9:53 PM
EC asks AAP to modify election campaign song and Kejriwal's party is miffed
Apr 28, 2024 9:25 PM