Week Financial News

logged its worst week in over 15 months on lingering worries over a higher global interest rate environment following the US Federal Reserve's hawkish tone. Nifty 50 closed with a loss of 68 points, or 0.34 per cent, at 19,674.25 while the Sensex ended at 66,009.15, down 221 points, or 0.33 per cent. While domestic investors offloaded in healthcare, consumer durable and commodity stocks, foreign fund outflows and a steep decline in HDFC Bank shares also hit market sentiment.

sold ₹10,164 crore worth of Indian equities and offloaded a total of ₹10,100 crore as of September 22, taking into account debt, hybrid, debt-VRR, and equities, according to National Securities Depository Ltd (NSDL ) data. Foreign institutional investors (FIIs) have sold ₹7,300 crore in the last three trading sessions and around ₹16,934 crore in Indian equities till September 21. Rising bond yields in the US and strong dollar index are negative for capital flows.

Milan Fashion Week, with designer Donatella Versace serving up the print on dresses and suits for women's wardrobes next spring. Models wore collarless jackets and short feminine dresses in pastel colours as well as boxy satin jackets paired with billowy shorts in Friday night's show. There were also denim outfits, skirt suits in darker black and white tones as well as shiny evening dresses. Accessories consisted of flat ballerina shoes and hair bows. In show notes, the designer described her Spring/Summer 2024 line as «fresh and graphic». «This is a Versace summer with colour and shine, tailoring and soft draping,» she said. «This collection is joyful and sharp.» Famous fashion faces including models Kendall Jenner, Gigi Hadid and Claudia Schiffer featured in the show.

IPOs Next Week: The primary market witnessed some major listings in both main board and small- and medium-sized enterprise (SME) segments last month, which kept investors engaged with subscriptions and listings. Moving on, the last week of September sees strong market buzz - similarly packed with new listings and initial public offering (IPO) issues, that are available for subscription. Last week, three mainboard IPOs - Jupiter Life Line Hospitals, EMS Limited and R R Kabel listed raising a total of ₹3,154 crore.

Dividend Stocks: Shares of companies including Bajaj Holdings & Investments, Semac Consultants, among few others will trade ex-dividend in the coming week, starting from Monday, September 25. The ex-dividend date is the day on which the equity share price adjusts to reflect the next dividend payout. It is the day the stock becomes ex-dividend, which means it does not carry the value of its next dividend payment from that day forward.

Nifty oscillated in a 537-point range over the past week. The headline index closed on a negative note, losing 518 points (-2.57%) on a weekly basis. The monthly derivatives expiry is slated for next week, and the coming sessions are likely to stay influenced by rollover-centric activities. The level of 20,200 has now become an intermediate top for the Nifty; as long as this level is not taken out comprehensively, the markets will remain under consolidation and may even see minor corrective retreatments.

PNB, Bank of Baroda, or even a small PSU Bank like UCO, Union Bank, or Indian Bank," says Rajesh Palviya, Axis Securities. Edited excerpts.What are the levels that you are looking out for because suddenly we are seeing declines across the board, not only in the midcaps, but also in the frontline index? We have seen significant supply pressure throughout the week, almost a 2.5% cut for the Nifty and now Nifty slipped below to 20-day moving average. Most of the Put writers have shifted their position on the lower side. So, Put writers have now shifted their position at 19,500, 19,400 strikes. That clearly shows that we can see more pressure in the coming trading session as call writers are now acting aggressively, aiding their position at 19,800 and 19,900 strikes. Those levels are likely to act as a major supply zone for any pullback action. Until Nifty does not cross above 19,900, there will not be any significant short-covering action in the market. Only major short covering will come above 19,900. Until we are trading below the 19,800 level, pressure is likely to remain in the system and possibly Nifty can go further down from the current level towards 19,600, 19,550 in the continuation of this down move.

Newjaisa Technologies IPO: The initial public offering (IPO) of Newjaisa Technologies Limited is going to hit primary market on 25th September 2023 o.e. on Monday next week. The book build issue has been priced at ₹44 to ₹47 per equity share and it will remain open for bidding till 27th September 2023.

Buy or sell stocks: Following weak global market sentiments, Indian stock market ended lower for fourth day in a row. Nifty 50 index lost 68 points and closed at 19,674 levels, BSE Sensex corrected 221 points and ended at 66,009 mark whereas Bank Nifty index finished 11 points lower at 44,612 levels. Small-cap index ended marginally in the positive even as the advance decline ratio improved to 0.99:1.

JSW Intrastructure IPO: The initial public offering (IPO) of JSW Intrastructure Limited is going to hit primary market on 25th September 2023 i.e. on Monday next week. The company has fixed JSW Intrastructure IPO price band at ₹113 to ₹119 per equity share and the book build issue will remain open for subscriber till 27th September 2023.

₹2000 must be exchanged or deposited by September 30, 2023. The Reserve Bank of India (RBI) had removed the circulation of ₹2000 notes on 19 May 2023 and had given nearly four months to deposit or exchange these notes. 1.

The number of smallcap stocks which delivered double-digit gains during the week further fell to just 22. In the previous week, about 40 stocks had seen a double-digit rally, which too was a drop from about 100 double-digit gainers in the preceding week.IFCI was the top gainer in the smallcap pack with 37% rise, followed by KIOCL, which jumped 28% and EKI Energy Services, whose shares increased nearly 26%. Only three smallcap stocks have offered returns over 25% in this week.

IPO market frenzy continues with three mainboard offers and as many as 13 SME issues opening for subscription in the next week, planning to raise a total of nearly Rs 4,000 crore. Last week, three mainboard issues Signature Global, Sai Silks and Manoj Vaibhav Gems Jewellers hit the markets to raise over Rs 2,200 crore from investors. The primary market remained unfazed even amid mixed global trends. A push provided by foreign institutional investors (FIIs), consistent corporate growth, and steady monsoon predictions are some of the factors that led to such buoyancy, said analysts. Here's a look at how the next week is poised.JSW Infrastructure JSW Infrastructure, through its IPO, is planning to raise Rs 2,800 crore and it is by far the biggest public offer in the month of September. It is also the first debut from the JSW Group in 13 years since the listing of JSW Energy in 2010. JSW Infrastructure is the fastest growing port-related infra company in terms of growth in installed cargo handling capacity and cargo volumes handled during FY21-23, and the second largest domestic commercial port operator by cargo handling capacity in FY23. The IPO, which will be run from September 25-27, is completely a fresh issue worth Rs 2,800 crore.

U.S. stocks have slid more than 6% from their late July highs, and the past week has been particularly nerve-wracking for investors. The Fed projected it would leave interest rates at elevated levels for longer than expected, sparking selloffs in U.S.

Stock in focus: Delta Corp shares will be in focus next week as the Indian casino major has received intimation for payment of shortfall tax to the tune of ₹1,11,39,61,03,423. The Directorate General of GST Intelligence, Hyderabad has issued notice to the company in this regard.

Tata Capital is planning an IPO for 2025. Tata Capital is currently restructuring its business and expanding its board as part of the efforts, report Anirudh Laskar, Ranjani Raghavan, and Sneha Shah. Government officials met with alternative investment funds, startup founders and fund managers last week to understand why foreign investments had fallen ahead of the election cycle.

Updater Services IPO: The initial public offering of Updater Services Limited is going to hit primary markets on 25th September 2023 i.e. on Monday next week. The public issue worth ₹640 crore will remain open for subscribers till 27th September 2023.

Sen. Bill Hagerty, R-Tenn., joined ‘The Big Money Show’ to discuss FTC chair Lina Khan’s testimony during a Senate Judiciary Subcommittee’s hearing on antitrust laws and enforcement.

This week, one of the hallmark events centered on curbing global warming — NYC Climate Week — convened sustainability experts and evangelists from around the world in one place.

OTT platforms this week. Lets look into what's new as we check OTT releases this week for movies and web series. The Disney+ Hotstar horror web series features Venu Thottempudi, Bhadram, Ravi Varma, Chanakya, Gayathri, Avanthika Mishra, Aidit Gautam, Venkatesh Kakumanu and others in crucial roles.

FTC) will file a long-awaited antitrust lawsuit against Amazon in federal court as soon as Tuesday, news site Politico reported on Friday, citing three people with knowledge of the matter. The FTC has been preparing the complaint since at least the start of this year, targeting an array of Amazon's business practices, according to the report, which said the exact details of the lawsuit were not known.