Summary of the Day's Market Performance

• The Indian equity markets ended sharply lower on September 6, with the Nifty closing below the 24,850 mark. The Sensex dropped 1,017.23 points or 1.24% to finish at 81,183.93, and the Nifty was down 292.90 points or 1.16%, closing at 24,852.20.

• The broader markets were also under pressure, with the BSE Midcap index shedding 1.4% and the Smallcap index falling by 1% after hitting a fresh record high earlier in the session.

Performance of Key Sectors

• It was a red day across the board, as all sectoral indices ended lower. Key sectors that took a hit included:

  • Auto, PSU Bank, Oil & Gas, Media, Telecom, IT, Realty, and Capital Goods, which were all down between 1-3%.

Market Transactions:

• 📉FII Sold: -620.95 cr.

• 📈DII Bought: 2,121.53 cr.

"The market witnessed broad-based selling as global economic concerns weighed heavily on investor sentiment. Weakness in sectors like auto, PSU banks, and oil & gas added to the drag on the indices. While a few stocks like Asian Paints and JSW Steel managed to buck the trend, overall sentiment remains cautious amid global uncertainty."

Key Stock Movements and News

• Top Gainers: Despite the broader sell-off, Asian Paints, JSW Steel, Bajaj Finance, LTIMindtree, and Divis Labs managed to post gains, benefiting from selective buying.

• Top Losers: On the flip side, SBI, HCL Technologies, NTPC, ICICI Bank, and BPCL were the biggest drags on the Nifty, reflecting the overall bearish sentiment in the market.

• Jubilant Ingrevia (+10%) jumped after Equirius raised its target price to Rs 900/share (+21% upside), citing reduced competition in the US and favorable pricing dynamics.

• SBI Cards shares rallied to hit an 11-month high following an upgrade by Goldman Sachs.

• Max Financial Services saw its promoter sell a 3.2% stake in the company on September 5, causing notable market activity.

• Sansera Engineering secured a long-term deal from Dynamatic Technologies to supply parts for Airbus A220, marking a significant milestone.

• Synergy Green Industries won orders worth Rs 1,640 crore from Vestas Wind, fueling investor interest.

• Adani Power assured continued power supply to Bangladesh and sought speedy clearance of outstanding dues.

• The Coal Ministry allocated the Kudanali Lubri Coal Mine to the Gujarat Mineral Development Corporation, strengthening its resource base.

• Delta Corp shares gained nearly 5% ahead of a potential relief announcement from the upcoming GST Council meeting.

• Premier Energies surged by 18% on securing a new order, bringing its total gains to an impressive 164% above its IPO price.

• Dreamfolks Services announced the launch of highway dining facilities for travelers, expanding its portfolio beyond airport services.

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"With continued global concerns and sectoral weakness, markets could remain volatile in the short term. Investors are advised to keep an eye on stock-specific developments while maintaining a cautious approach. Sectors like IT and metals could provide opportunities, but broader market pressures persist."

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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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