Stock Market LIVE Updates: GIFT Nifty indicates flat start; US markets end higher, Asia trades mixed

Private equity investors TPG, Tokyo Electric Power Company (Tepco), and Brookfield are in advanced discussions to acquire a minority stake in JSW Neo Energy, a subsidiary of listed JSW Energy, a newspaper report has said. It is likely that a deal with two of these funds will be finalised in the coming weeks, the Economic Times reported, citing sources. The JSW Group aims to raise up to $500 million from this stake sale, which will likely be utilised for expanding its presence in renewable energy. Read More

Even as domestic equity markets defied weak global cues to post solid gains last week, foreign institutional investors shunned local shares worth Rs 8,609 crore due to fresh resurgence in the US Dollar Index against other global currencies and subsequent spike in US treasury yields. Sharp currency weakness in China and Japan against the dollar also weighed heavily on the local currency leading to foreign fund outflows. If the US treasury yields continue to rise and other currencies falter against the US Dollar further, foreign fund inflows may remain choppy and overseas investors could exit emerging markets, including India.

Morning Scan: All the big stories to get you started for the day

A round-up of the biggest articles from newspapers... Read More

Blue Chandra Pte Ltd, the subsidiary of Equity International Fund V, sold Rs 130 crore equity shares in Samhi Hotels ahead of its IPO for Rs 126 per share.

Before this stake sale, the Singapore-based investment firm Blue Chandra was the largest shareholder in the branded hotel ownership and asset management platform.

Samhi Hotels in its public announcement published in the newspaper on September 9 said that Blue Chandra, one of the selling shareholders in the company's IPO, has transferred its 1,03,17,460 equity shares, which is equivalent to 8.4 percent of the pre-offer paid-up equity (sale shares), at a price of Rs 126 per share. Read More

State-owned Indian Renewable Energy Development Agency (IREDA) filed the draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (Sebi) to raise funds via an initial public offering. It is the first IPO by a public sector enterprise after Life Insurance Corporation's public issue in May last year.

The public issue of 67.19 crore equity shares will comprise a fresh issue of 40.31 crore equity shares by the company and an offer-for-sale of 26.88 crore shares by the Government of India.

The net fresh issue proceeds will be utilised mainly for augmenting the capital base to meet future capital requirements and onward lending. Read More

Trade setup for Monday: Top 15 things to know before the opening bell

Experts expect the Nifty at 20,000 in the coming sessions if it holds on to 19,700-19,600 but they don’t rule out some consolidation before that... Read More

On the hourly chart we can observe that the Nifty has reached the upper end of the rising channel and hence a consolidation is likely in the upcoming week. The range of consolidation is likely to be 19,850 –19,670.

Daily and hourly momentum indicators have a positive crossover, which is a buy signal and thus is likely to be only a consolidation. A dip should be used as a buying opportunity.

On the upside, we expect 19,900, which is around the swing high the Nifty touched in July. While support is at 19,630–19,670, hurdle is at 19,860–19,900.

After breaking out of the consolidation range in the previous session, Bank Nifty witnessed follow-through buying interest. Momentum indicator has a positive crossover, which is bullish sign. Overall, we expect the positive momentum to continue and expect targets of 45,500 in the short term.

Ratnaveer Precision Engineering makes its market debut on September 11 after the listing was brought forward from September 14. Experts expect the stock to list with at least a 40 percent premium over the issue price of Rs 98 per share.

Ratnaveer Precision shares were trading in the grey market at a premium of 50 percent, said analysts on the condition of anonymity. The grey market is an unofficial platform wherein IPO shares can be bought and sold till the listing day. Read More

Rishabh Instruments is set to list on the bourses on September 11. Experts expect it to list with at least a 12 percent premium over the issue price of Rs 441, citing strong revenues from export business.

Analysts expect the listing price to be around Rs 500.

Rishabh Instruments was trading at a 15 percent premium over the issue price in the grey market, said analysts on condition of anonymity. The grey market is an unofficial platform wherein IPO shares can be bought and sold till the listing. Read More

Stock Market Today: Top 10 things to know before the market opens

Foreign institutional investors (FII) sold shares worth Rs 224.22 crore, while domestic institutional investors (DII) bought Rs 1,150.15 crore worth of stocks on September 8, provisional data from the National Stock Exchange (NSE) showed.... Read More

The benchmark indices once again defied weak Asian and European market trends to post solid gains, as a lack of opportunity in key economies is prompting investors to increase their bets on India. Investors are increasing exposure to stocks of companies that are likely to play a major role in boosting the economy.

Technically, after a promising reversal formation, the Nifty has been holding a higher bottom formation and is comfortably trading above 50 and 20-day Simple Moving Average (SMA), which is positive. It also formed a long bullish candle on the weekly charts, which supports uptrend from the current levels.

For the trend-following traders, 19,700-19,650 will be the key support above which the Nifty can move to 19,900. A further upside can lift the market to 20,000. On the flip side, below 1,9650, the uptrend will be vulnerable and the Nifty can see a short-term correction till the 50-day SMA or 19,550-19,500.

The Bank Nifty crossed the 50-day SMA after a long time, which is positive. It also formed a higher bottom formation, which supports further uptrend. For the positional traders, 44,700 or 50-day SMA will be the sacrosanct support zone, above which the index can rise to 45,600-45,900. On the flip side, below 44,700 it can retest 20-day SMA or 44,300-44,000.

Asian markets were mixed at the start of a week where key economic data from major economies will take center stage.

On Tuesday, India will release its inflation and industrial output figures for August, while China will announce its industrial output, retail sales, and most notably, house sale prices on Friday.