Opening Bell:
Gift Nifty is down by 2.5 points in the early morning trade, indicating a mixed opening for Indian stock market.
Asian markets showed mixed performance as investors awaited several key economic data releases. MSCI’s broadest index of Asia-Pacific shares outside Japan edged down by 0.1%. Japan’s Nikkei 225 advanced 0.94%, with the Topix up 0.49%. In contrast, South Korea’s Kospi dipped 0.49%, and the Kosdaq saw a slight decline. Meanwhile, Hong Kong’s Hang Seng index pointed to a lower opening.
The U.S. stock market closed higher, with the Dow Jones Industrial Average achieving its second consecutive all-time closing high on Friday. The Dow Jones Industrial Average rose 0.55% to finish at 41,563.08, while the S&P 500 climbed 1.01% to close at 5,648.40. The Nasdaq Composite Index advanced 1.13% to end at 17,713.62.
Stocks News:
👉 Maruti Suzuki India’s total sales declined by 3.86% year-on-year to 1,81,782 units compared to 1,89,082 units. Domestic passenger vehicle sales fell by 8.4%, reaching 1,43,075 units compared to 1,56,114 units. Overall domestic sales decreased by 5.3% to 1,55,779 units from 1,64,468 units. However, export sales saw an increase of 5.65%, rising to 26,003 units from 24,614 units.
👉 MOIL, the state-owned company, has reduced the prices of ferro-grade manganese ores with a manganese content of 44% and above by 20% for September. Additionally, it has lowered the prices of all other ferro grades of manganese ore with a manganese content below 44% by 15%. The prices of all SMGR (Mn-30% and Mn-25%), fines, and chemical grades have also been reduced by 15%.
👉 Tata Motors reported a year-on-year total sales decline of 8.1%, with sales reaching 71,693 units compared to 78,010 units. Commercial vehicle sales decreased by 15.2%, totaling 27,207 units, down from 32,077 units. Meanwhile, passenger vehicle sales fell by 3.15%, coming in at 44,486 units compared to 45,933 units.
👉 TVS Motor Company reported a year-on-year total sales growth of 13%, reaching 3,91,588 units compared to 3,45,848 units. Two-wheeler sales increased by 14%, totaling 3,78,841 units, up from 3,32,110 units. Exports surged by 14% to 99,976 units, compared to 87,515 units last year. Additionally, electric vehicle sales rose by 4%, reaching 24,779 units, compared to 23,887 units.
👉 The foreign institutional investors (FIIs) extended their buying as they bought equities worth Rs 5316 crore on August 30, while domestic institutional investors sold equities worth Rs 3198 crore on the same day.
Domestic and International Events
- India’s economy grew by 6.7% in the April-June quarter, marking the slowest pace in five quarters. This follows a 7.8% expansion in GDP during the previous quarter.
- India’s fiscal deficit for the April-July period of FY25 stood at ₹2,76,945 crore, representing 17.2% of the full-year target. In comparison, the deficit was 33.9% of the Budget Estimates (BE) during the same period in 2023-24.
- India’s Goods and Services Tax (GST) collections in August rose by 10% year-over-year to ₹1.75 lakh crore, compared to ₹1.59 lakh crore in the same period last year. However, this marks a slight decline from the ₹1.82 lakh crore collected in July.
- The U.S. Personal Consumption Expenditures (PCE) price index rose by 0.2% last month, aligning with economists’ expectations as polled by Reuters, following an unrevised 0.1% increase in June. On a year-over-year basis, the PCE price index climbed 2.5% through July, consistent with the gain recorded in June.
- U.S. consumer spending increased solidly in July, rising by 0.5% after an unrevised 0.3% gain in June. This matched the expectations of economists polled by Reuters, who had forecast spending would accelerate by 0.5%.
| EMERGING | LATEST | % 1D |
| Hang Seng | 17,989 | 1.1 % |
| Shanghai Composite | 2,842 | 0.7 % |
| DEVELOPED | LATEST | % 1D |
| Dow Jones | 41,563 | 0.6 % |
| DAX | 18,907 | (0.0) % |
| FTSE 100 | 8,377 | (0.0) % |
| Nikkei | 38,648 | 0.7 % |
| Straits Times | 3,443 | 1.1 % |
