LIC replaced by Bajaj Finance and Adani Transmission

The Markets Today in a nutshell

• Domestic benchmark indices overcame the bearish sentiments set by US Fed.
• Positive cues from the Asian peers even as the US markets again tumbled on Monday, set the tone for markets today. Stocks in Asia climbed as investor sentiment stabilised following a rout sparked by the Federal Reserve’s commitment to a sustained period of restrictive monetary policy to quell inflation.

Day Leader Board

Capital Flows

News you could use

?Nazara Technologies jumped on acquisition deal
The company has made acquisitions worth $10.40 million in the United States. The company has acquired US children’s interactive entertainment company WildWorks. Nazara will acquire 100 percent of the company and its IP from existing shareholders in an all-cash transaction.

?Auto stocks in fast lane
Auto stocks witnessed good buying ahead of their monthly sales numbers that will be announced in the later part of this week. Most segments, barring tractor, are likely to deliver good numbers for August. Japanese brokerage firm Nomura expects 29 percent year-on-year growth in the passenger vehicle segment, a 48 percent increase in commercial vehicle space, and 7 percent in the two-wheeler segment in August 2022.

?LIC replaced by Bajaj Finance and Adani Transmission
LIC lost its spot on the list of India’s 10 most valued companies by market capitalization to Bajaj Finance and Adani Transmission which have replaced LIC with a market cap of Rs 4.4 trillion each.

News from the IPO world?

• Tamilnad Mercantile Bank IPO opens for subscription on September 5.
• Sysma SGS Technology closes 42% higher on debut despite market volatility.
• Prasol Chemicals gets SEBI’s nod to raise Rs. 800 crore via IPO.

Numbers? that matter