13 new mutual fund NFOs are currently open for subscription, offering a range of options including index funds, sectoral funds, thematic funds, and more. These new funds aim to complete the offerings of various mutual fund houses. The subscription periods for these funds vary, with some closing as early as September 5.
The dollar weakened on Thursday amid concerns over the U.S. economy's growth outlook, leading to expectations of a significant rate cut from the Federal Reserve. The yen outperformed due to safe-haven demand and potential rate hikes by the Bank of Japan. Investors are now focused on Friday's nonfarm payrolls report for further economic insights.
Bank of Baroda has revised fixed deposit interest rates for amounts below Rs 3 crore. The new rates are effective from September 5, 2024, as per the Bank of Baroda website.
Sunil Subramaniam advises investors to focus on defensive sectors like consumption, banking, financial services, IT, and pharma. He points out that domestic capital flows are strong despite global volatility. A cut in US interest rates is expected to benefit equities and emerging markets. Fund managers play a crucial role in sector allocation.
US Presidential Election 2024: Conservative Republicans are distancing themselves from Donald Trump as his campaign struggles against Kamala Harris, who is gaining support among women and Gen X voters. Liz Cheney has announced her support for Harris, citing the danger Trump poses. Other notable Republicans, including Mike Pence and Jimmy McCain, have also withdrawn their support for Trump. The race remains tight in key battleground states where both campaigns are focusing their efforts.
The stock quoted a 52-week high price of Rs 706.85 and low of Rs 404.0.
The SME IPO of Mach Conferences and Events opened for subscription on September 4 and was oversubscribed by more than 6 times on its first day. The issue, which closes on September 9, aims to raise around Rs 125 crore and list shares on the BSE SME platform.
The Nifty Bank index was trading 0.13 per cent up at 51467.45.
In a span of 14 hours, mobile snatchers targeted five individuals in Mayur Vihar, Delhi, and nearby areas. Two victims were stabbed during the incidents. Police have identified some suspects and launched an investigation. The attacks involved young men on motorcycles and scooters who swiftly snatched phones from unsuspecting victims.
The three would sign the Council of Europe's convention on AI on Thursday, the newspaper said, adding that the convention was drafted for over two years by more than 50 countries including Canada, Israel, Japan and Australia.
Charges on UPI, IMPS, NEFT, RTGS payments: Banks are asking the government either to support them in maintaining the ecosystem for digital payments or to allow them to levy charges on UPI payments. Banks are already levying charges on IMPS, NEFT, and RTGS transactions. However, due to digital transactions, banks are already making a huge savings.
The 30-share BSE Sensex was down 56.58 points at 82296.06
Here was a notable surge in futures open interest for four stocks in the NSE F&O pack.
Sona BLW Precision Share Price: Sona BLW Precision Forgings' shares surged 4% to Rs 751 after the company announced a floor price of Rs 699.01 per share for its qualified institutional placement. The company may offer a discount of up to 5% on this floor price. Sona Comstar's shares have gained 26% over the past year.
Tamil Nadu Chief Minister MK Stalin has secured a Rs 2000 crore MoU with Trilliant to establish a manufacturing unit and Global Support Centre in Tamil Nadu. He also held talks with Nike for expanding footwear production in Chennai and engaged with Optum for healthcare talent development. Additionally, agreements were signed with Eaton, Assurant, and Ohmium for various projects in the state.
On the technical charts, the RSI of the stock stood at 51.42.
The NSE Nifty index was trading 5.25 points down at 25193.45
A total of 2,834 shares changed hands on the counter till 11:05AM (IST).
Chinese and Indian diesel markets are showing signs of a slowdown, potentially leading to weaker crude oil prices. In China, diesel demand is contracting, while in India, consumption growth has slowed significantly. This trend is impacting refiners' profits and contributing to concerns about a global oil glut.
7 stocks from the Nifty500 pack came to the bullish scanner of "White Marubozu", according to stockedge.com's technical scan data.
Pulwama Police arrested a terrorist associate, Arsalan Ahmad Sheikh, and seized a hand grenade during a Naka check at Karimabad crossing. The suspect had planned to attack security forces. A case has been registered under various sections of the Explosives Act and Unlawful Activities (Prevention) Act. Investigations are ongoing.
The NSE Nifty index was trading 20.86 points down at 25177.85
A tragic shooting occurred at Apalachee High School in Winder, Georgia, where 14-year-old student Colt Gray allegedly used an AR-15 style rifle to kill two teachers and two students. Gray, who had been previously investigated for online threats, is now in custody and will be charged as an adult. The motive remains unclear as authorities continue their investigation.
The stock quoted a 52-week high price of Rs 506.85 and a 52-week low of Rs 207.85.
7 stocks from the Nifty200 pack appeared in the RSI Trending Up scan.