Summary of the Day's Market Performance

• On September 12, Indian markets surged to new highs, with the Sensex climbing 1,439.55 points or 1.77% to close at 82,962.71, and the Nifty soaring 470.40 points or 1.89%, ending at 25,388.90.

• This sharp rally was driven by global optimism surrounding potential rate cuts from major central banks like the US Federal Reserve and the European Central Bank (ECB).

• Falling US bond yields and rate-cut expectations lifted market sentiment across the globe, pushing both the Sensex and Nifty to fresh record highs.

Performance of Key Sectors

• All sectoral indices posted impressive gains, with Metals, Automobiles, Capital Goods, Technology, and Power sectors surging 2-4%.

• Buying was seen across the board, with only Nestle among the Nifty 50 stocks ending in the red.

Market Transactions:

• 📈FII Bought: 7,695 cr.

• 📉DII Sold: -1,800.54 cr.

• The bullish momentum was largely fueled by optimism over potential rate cuts in the upcoming US Federal Reserve policy meeting, along with expectations from the ECB.

• The drop in US bond yields further boosted market confidence, encouraging broad-based buying across sectors.

• The global trend has been particularly supportive, with investor sentiment remaining buoyant on hopes of policy easing.

Key Stock Movements and News

• Top Gainers: Leading the charge were Hindalco, Bharti Airtel, and NTPC, which posted strong gains.

• Top Losers: Nestle was the only stock to close in negative territory.

• HPL Electric & Power: Bagged orders worth Rs 143.8 crore for the supply of smart meters and conventional meters.

• Kaynes Technology: Shares rallied 7% following a Buy call from Nomura and PM Modi’s upbeat growth targets for the EMS sector.

• Tembo Global: Hit upper circuit after announcing a partnership with a European giant to establish an arms and ammunition manufacturing facility in India.

• Bajaj Holdings: Announced a dividend of Rs 65 per share.

• Minda Corporation: Approved a fundraise of up to Rs 1,000 crore through a QIP.

• Jefferies: Increased its target price for Mahanagar Gas, forecasting a 17% upside.

• Engineers India: Shares jumped 7% on securing orders worth Rs 4,681 crore so far in FY25.

• Kalyan Jewellers: Surged 4% to a record high as HSBC raised its price target, projecting an additional 19% upside.

• EV Stocks: Soared up to 9% after the Cabinet approved the PM E-Drive scheme with a funding allocation of Rs 10,900 crore.

• Jefferies: Increased its target price for Mahanagar Gas, forecasting a 17% upside.

Summary and Outlook "Indian markets witnessed a powerful rally today as investors cheered the prospects of global rate cuts and easing financial conditions. With all sectors contributing to the gains, bulls firmly took control, pushing indices to new record highs. The upcoming US Fed meeting will be a key event to watch, with expectations for a rate cut continuing to drive sentiment."

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Disclaimer: The information provided in this newsletter is for informational purposes only and should not be considered financial advice.

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