Rupak De of LKP Securities maintains a bullish outlook on Nifty, anticipating a rise to 25,000-25,250 if it holds above 24,800. Despite Bank Nifty's weakness, he recommends buying UNO Minda and Lupin, citing positive technical indicators. Conversely, De suggests selling Axis Bank due to bearish signals and its position below the 21 EMA.
Market analysts are keenly watching global events like the Jackson Hole Symposium and potential US tariff impositions. These events will likely influence market trends. Domestically, GST rationalisation is expected to boost consumption and corporate earnings. FMCG, apparel, and footwear sectors may see growth. However, regulatory risks in online gaming make it a less attractive investment option for now.
Global markets showed strength after Jerome Powell hinted at possible rate cuts. Gift Nifty futures in India suggested a recovery. However, Indian cash markets showed caution. US markets rallied, increasing bets on a September rate cut. Powell mentioned tariff pressures affecting consumer prices. Investors should watch US economic data and the September FOMC meeting.
Tata Capital plans a $2 billion IPO before the RBI's deadline. The IPO includes new shares and shares from existing investors like Tata Sons and International Finance Corporation. This IPO could be one of India's largest financial listings. Tata Capital reported a significant increase in net profit for the June quarter. Several banks are managing the IPO.
The Indian primary market is set for a busy week with 10 companies launching IPOs, aiming to raise over Rs 1,190 crore. Vikran Engineering's Rs 772 crore IPO, opening August 26, leads the pack, followed by Anlon Healthcare's Rs 121 crore issue. Several SME IPOs, including Globtier Infotech and NIS Management, are also scheduled.
Shakti Pumps India, known for solar pumps and EV motors, is currently experiencing a market correction. Despite a recent dip, institutional investors are showing strong support. A 292 crore QIP was raised to fund a new solar cell plant. Experts highlight Shakti's dominance in the PM Kusum Yojana and diversification into EV motors.
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Wall Street surged after Federal Reserve Chair Jerome Powell hinted at potential interest rate cuts, sparking optimism. Treasury yields dropped, and futures traders increased bets on a September rate cut. The S&P 500 rebounded, while the Russell 2000 saw significant gains. The dollar weakened, and risk assets like Bitcoin and gold rose, fueled by expectations of growth-oriented monetary policy.
