Bluedart has announced average shipment price increase of 9.6% for 2023

Opening Bell:

SGX Nifty is up by 160 points in the early morning trade, indicating a gap up opening for Indian stock market.

Asian indices rose in early morning trades following a rebound-on Wall Street overnight. The Japanese Nikkei advanced 1 percent, South Korea’s Kospi added 1.5 percent and Hong Kong’s Hang Seng is up by 1.4 percent in early morning deals.

Wall Street rallied after the Bank of England said it would intervene in the bond market to stabilise conditions.

Dow Jones Industrial Average jumped 1.9 percent, while the S&P 500 rose 2.0 percent. The Nasdaq Composite was up by 2.05 percent.

Stocks News:

?Indus Towers have asked debt-ridden Vodafone Idea to clear outstanding dues and pay every month on time for continuity of business post-November.

?Ambuja Cements has created a NDU over 50 per cent shareholding in its subsidiary ACC Ltd as collateral for loans taken by the company. The company has created a non-disposable undertaking (NDU) over 9.39 crore shares of ACC Ltd on September 26, 2022.

?ELGi Equipments subsidiary ELGi Compressors Europe said Italy-based Polselli has selected its water-injected AB Series screw air compressors of 45 kW to support its entire pneumatic production and bagging requirements. Polselli is a leading player in the quality milling sector and is in the production of flour.

?Bluedart has announced average shipment price increase of 9.6 per cent for 2023 as compared to 2022. The general price increase will be effective from January 1, 2023.

?Krsnaa Diagnostics announced that it will be adding 600 centres to its existing network of over 2,000 locations. The listed company said the expansion, for which it did not specify a capital expansion, will also foray into retail healthcare services.

?Foreign institutional investors (FIIs) net sold shares worth Rs 2,772.49 crore, while domestic institutional investors (DIIs) net bought shares worth Rs 2,544.17 crore on September 28, as per provisional data available on the NSE.

Domestic and International Events

• Oil prices jumped higher on Wednesday for a second day, rebounding from recent losses as the US dollar eased off recent gains and US fuel inventory figures showed larger-than-expected drawdowns and a rebound in consumer demand.
• Markets regulator Sebi on Wednesday came out with a new framework for credit rating agencies (CRAs), involving ratings of securities having explicit credit enhancement features. The new framework, applicable from January 1, 2023, is aimed at enhancing transparency and improving the rating process, the Securities and Exchange Board of India (Sebi) said in a circular
• Automobile dealers are set to clock their fastest revenue growth in three fiscals with sales accelerating 20-25 percent year-on-year on the back of 12-14 percent volume growth, a report said on Wednesday. This will be aided by increasing preference for personal mobility, higher economic activity, easing supply-side constraints, shift in product mix towards higher priced vehicles, and price hikes of 5-7 percent
• The Bank of England said on Wednesday that it would buy as many long-dated government bonds as needed between now and Oct. 14 to stabilise financial markets, and added that it would postpone next week’s start of its gilt sale programme.

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