Thursday, September 10
Rupak De, Senior Technical Analyst at LKP Securities, sees Nifty sustaining its short-term uptrend as long as it holds above 24,800, with potential to climb towards 25,000–25,250. While Bank Nifty remains weak, he highlights UNO Minda and Lupin as bullish picks for the week, alongside a sell call on Axis Bank.Edited excerpts from a chat:After Nifty broke its 6-day-long winning streak on Friday, how bearish or bullish are you for the outlook ahead of the August series expiry next week?After several days of gains, Nifty took a breather on Friday, resembling a pause before the next leg of the up move. The index has been sustaining above the 50 EMA, confirming a short-term uptrend. On the downside, support is placed at 24,800; as long as it holds above this level, the trend is likely to rema
Global markets ended the week on a firm note as U.S. Federal Reserve Chair Jerome Powell signaled that the central bank remains open to cutting interest rates in the near term, raising hopes of a September move. His remarks at the Jackson Hole Symposium lifted sentiment across Wall Street, with spillover effects seeming to be priced in on Asian and European markets.In India, Gift Nifty futures closed higher at 25,000, up 121 points or 0.49%, suggesting a possible recovery in the next session. However, the cash market reflected caution as the BSE Sensex ended at 81,306.85, down 693.86 points or 0.85%, while the Nifty 50 slipped 0.85% to 24,870.10.Investors reacted warily to Powell’s emphasis on a data-dependent approach, with IT, financials and real estate among the worst-hit sectors give
Tata Capital is preparing a $2 billion initial public offering ahead of the Reserve Bank of India’s September 30 listing deadline, but sentiment in the unlisted market seems to have cooled, with the company’s unlisted shares slipping more than 8% over the past month.The stock is currently trading around Rs 795 in the unlisted market, down from Rs 865 a month ago and 27.4% below its October 2024 peak of Rs 1,095, according to UnlistedZone.IPO filing and structureThe financial services arm of Tata Group is on an investor roadshow for the planned share sale, ETNow reported on Thursday, citing sources. The offering will include about 210 million new shares and 266 million shares offered by existing investors.Tata Sons, which owns 88.6% of Tata Capital, intends to offload 230 million shares
In a move that has sparked both hope and unease, US President Donald Trump has appointed Sergio Gor, his longtime aide and White House Director of Presidential Personnel, as the next ambassador to India. Gor will concurrently serve as Special Envoy for South and Central Asian Affairs, covering a region that includes strategic countries for the US such as Pakistan, Bangladesh and Afghanistan.Though this unprecedented dual-role nomination has triggered some concerns, it is also being seen as a sign of renewed focus and urgency in US-India ties.Trump's trusted confidant heads to DelhiGor’s nomination as an envoy was seen by many as a positive development precisely because of his deep personal proximity to Trump. Born in Tashkent, Uzbekistan, Gor has been described in the media as “maybe t
India Post recently announced that its Registered Post service, revered for legal proof and heartfelt messages, will retire on September 1, merging into Speed Post. In our office, the younger generation reacted with a “what service is that again?”, even as the oldies reminisced about “acknowledgment cards.”That brought us here. Once upon a time, before swipe-rights and ChatGPT, there was a world where the loudest sound in a household was the screech of dial-up internet, where letters came folded in blue aerogrammes, and where an entire family’s weekend plan hinged on whether the Doordarshan antenna faced the right direction. Before emojis, there were pager codes. Before Spotify, there was the mixtape cassette. Before Google Maps, there were fold-out atlases that never folded back
