JSW Steel reported a 22 per cent jump in crude steel production in August this year to 16.76 lakh tone

Opening Bell:

SGX Nifty is up by 108.5 points in the early morning trade, indicating a gap up opening for Indian stock market.

Asian indices extended the rally in risky assets amid speculation on Tuesday’s US Consumer price data release and will this data will indicate a peaking out of inflation in US.

The Nikkei 225 in Japan gained 0.26 percent, South Korea’s Kospi rose 1.78 percent. MSCI’s broadest index of Asia-Pacific shares outside Japan gained 0.35 percent.

Wall Street ended with solid gains Monday, continuing the upswing last week that snapped a three-week losing streak ahead to a release Tuesday on US consumer prices.

Foreign fund buying, crude oil prices trading near $93 level, and macro data reflecting the strong growth recovery, boosted investor sentiment.

Stocks News:

?TCS has been selected by C&S Wholesale Grocers Inc, an industry leader in supply chain solutions and wholesale grocery supply in the United States to build its new operations platform on Google Cloud. This will help C&S reduce its carbon footprint and enhance customer experience.

?Axis Bank announced a tie-up with real estate platform Square Yards to launch a co-branded home buyer ecosystem. The ‘Open Doors’ platform will ensure that the complete journey from searching to buying one’s own dream home becomes a hassle-free, efficient and delightful experience for customers.

?JSW Steel reported a 22 per cent jump in crude steel production in August this year to 16.76 lakh tone. The private steel major had produced 13.77 lakh tonne in the year-ago month.

?TATA Consumer Products said it has entered the health supplements segment with the launch of a plant-based protein powder. Tata GoFit, a health supplement range for women, is a plant-based easy-to-mix product formulated with the goodness of gut-friendly probiotics

?UK-based investment company Abrdn is planning to sell up to 4.3 crore sales or 2 per cent of HDFC Life Insurance Company outstanding shares through a block deal to raise over Rs 2,425 crore. The shares are offered in the price band of Rs 564.1 to Rs 578.55, which is a discount of up to 2.5 per cent on the scrip’s close on Monday in the block deal.

?Foreign institutional investors (FIIs) net bought ₹2,049 crore worth of shares, whereas domestic institutional investors (DIIs) net sold ₹890 crore worth of shares on September 12, as per provisional data available on the NSE.

Domestic and International Events

• India’s industrial growth, as per the Index of Industrial Production (IIP), slowed further in July to 2.4 percent from 12.7 percent in June. At 2.4 percent, the July industrial growth figure is the lowest in four months.
• US consumers’ inflation expectations slid further in August as gasoline prices extended their steep decline from June’s record high, a development likely to be welcomed by Federal Reserve policymakers weighing how big an interest rate hike to deliver next week.
• India’s headline retail inflation rate, as measured by the Consumer Price Index (CPI), returned to 7 percent territory in August from a five-month low of 6.71 percent in July, according to data released on September 12 by the Ministry of Statistics and Programme Implementation
• The India plans to pay about 200 billion rupees ($2.5 billion) to the state-run fuel retailers, such as Indian Oil Corp., to partly compensate them for losses and keep a check on cooking gas prices.

Key Equity Indices