Summary of the Day's Market Performance

• Indian equity indices rebounded after a three-day losing streak on September 9, with the Nifty closing around 24,950. The Sensex climbed 375.61 points or 0.46% to end at 81,559.54, while the Nifty gained 84.20 points or 0.34%, closing at 24,936.40.

• Despite the positive close in the benchmarks, the broader market saw weakness as the BSE Midcap index dipped 0.3% and the Smallcap index shed 0.6%.

Performance of Key Sectors

• It was Top Performers: The FMCG and Banking sectors outperformed, each gaining 1%, supported by strong buying interest in select heavyweight stocks.

• Underperformers: Sectors like Capital Goods, IT, Metals, Telecom, Media, Oil & Gas, Power, and Realty lagged, posting losses between 0.3-1%.

Market Transactions:

• 📈FII Bought: 1,176.55 cr.

• 📈DII Bought: 1,757.02 cr.

"Despite a mixed performance across sectors, the market managed to rebound from its recent losses, thanks to gains in FMCG and banking stocks. While broader market pressure remains, investor sentiment was buoyed by sector-specific developments and corporate actions."

Key Stock Movements and News

• Top Gainers: Stocks leading the Nifty’s recovery included HUL, Shriram Finance, ICICI Bank, ITC, and Britannia Industries, which saw healthy buying momentum.

• Top Losers: On the downside, ONGC, Tech Mahindra, Hindalco Industries, NTPC, and BPCL were the major drags on the index.

• Government Contract with HAL: The Government signed a massive Rs 26,000 crore contract with HAL for the supply of 240 AL-31FP engines for Su-30MKI fighter jets, boosting the defense sector.

• Greaves Cotton: The company became eligible for the Government's demand incentives scheme, driving positive sentiment around the stock.

• Gala Precision Engineering: The shares of Gala Precision Engineering made a strong debut, listing at Rs 721.10, a 36.31% premium over its issue price of Rs 529 per share.

• Metal Stocks Under Pressure: Metal stocks, including Nifty Metal, fell by 1% due to the decline in iron ore prices.

• JSW Infra Expansion: JSW Infrastructure approved capacity expansion plans for JSW Jaigarh Port and JSW Dharamtar Port.

• Bajaj Housing IPO: The Bajaj Housing Finance IPO was fully subscribed within the first 4 hours of its opening, reflecting strong investor demand.

• Nazara Technologies Acquisition: Nazara Technologies acquired a 48.42% stake in Paperboat for Rs 300 crore, expanding its digital content portfolio.

• Ather Energy IPO Filing: Ather Energy filed for an India IPO, signaling its intention to tap into the electric vehicle boom.

• RBM Infracon Order: RBM Infracon secured a Rs 3,498 crore order from ONGC, marking a significant win for the company.

• Minda Corp Fundraising: Minda Corporation announced that its board will consider raising funds via equity on September 12.

• Mahindra's Electric Launch: Mahindra plans to launch its new electric four-wheeler, the e-ZEO, further strengthening its position in the electric vehicle segment.

• Bajaj Housing IPO: The Bajaj Housing Finance IPO was fully subscribed within the first 4 hours of its opening, reflecting strong investor demand. GMP is 80%+. You can consider it.

"With a bounce-back in the benchmark indices, the market looks poised for more selective opportunities. However, given the sectoral volatility, investors should remain cautious and focus on stock-specific trends."

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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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