INVESTMENT HAWK SPEAKS
INVESTMENT HAWK SPEAKS SARASIJ MAJUMDER Focus – Gift Nifty is up 0.2%. US market gained up to 1.4% due to falling bond yield. Gland Pharma 5% equity shares block deal at 5% discount. Gold jump 3%. Brent Crude above $96/bbl. Cable wire companies hike cable wire price. Services PMI rises to 15-month high at 54.1 in August. IPO listing – ESDS Software and Priority Jewels. UltraTech Cement enters wires and cables business with Rs1800cr investment. Sebi plans net settlement for mutual fund trades in cash market. Actionable – Lalithaa, Lumino, Inox Wind, Prestige Estates. Supreme court dismisses SEBI’s plea against NSE. Market outlook Today – We expect the domestic equity market to open on a positive note, supported by the rally in global markets, declining global bond yields, and expectations of a delay in the US Federal Reserve’s interest-rate hike. Domestic service-sector growth in August also remained strong, reaching a 15-month high. Asian markets opened up to 2% h...