Nifty, Sensex may trend upwards – Friday closing report
Moneylife Digital Team 08 October 2021
We had mentioned in Thursday’s closing report that Nifty, Sensex may move sideways or continue its rally. On Friday, the indices opened higher and ended with major gains. On the NSE, there were 1,089 advances, 960 declines and 79 remained unchanged.
 
The trend of the major indices on Friday’s trading are given in the table below:
 
 
RBI has kept policy rates unchanged in its Monetary Policy Committee, this was 8th time in row that RBI has kept the rates unchanged. RBI has also retained its GDP growth projection at 9.5% in 2021-22.
 
RBI has proposed to increase the per transaction limit of IMPS from Rs 2 lakh presently to Rs 5 lakh.
 
TCS has reported 29 percent growth YoY in its consolidated net profit for quarter ended in September to Rs 9,624. Its consolidated revenue from revenue also increased by 16.8 percent to Rs 46,687.
 
Emami Agrotech, is planning to invest around Rs 10 bn to Rs 15 bn over the period of next 3 years to achieve its ambitious target of becoming leading food company. Emami Agrotech is an Emami group company operating in the business of spices, edible oils and soya chunks.
 
Wockhardt, zoomed 11 percent in early trade on media reports of stake sale to Serum Institute of India (SII) and closed with major gains of 5.50%. 
 
Mobikwik, has received SEBI approval for its Rs 1,900 crore Initial Public Offer (IPO). It is expected to launch IPO before Diwali around 4 November. It was last valued at $700 million in its last funding round in April.
 
PayTM, Nykaa and Policy Bazaar are also eyeing IPO debut this year.
 
SEBI has temporarily forbidden NCDEX from launching new mustard seed contracts, in August the regulator had banned NCDEX from launching new contracts in futures of Chana.
 
The top gainers and top losers of the major indices are given in the table below:
 
 
The closing values of the major Asian indices are given in the table below:
 
Comments
Acting Right in a Raging Bull Market
R Balakrishnan, 08 October 2021
It is easy to sell a stock, when we are sitting on a profit. When we are not, it is not an easy task. It is a natural human tendency to hold on to stocks that have dipped below our purchase price, expecting them to recover, at some...
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