VST Industries Falls, Deep Industries Rises, and SpiceJet Gains

Market Snapshot

• The Nifty 50 index ended September 9 above 24,900, breaking a three-day losing streak, driven mainly by gains in FMCG and banking sectors.
• The FMCG index rose 2%, and the Private Bank index increased by 1%, while sectors like Energy, IT, Metal, Media, Pharma, and Realty closed lower.
• The Nifty midcap 100 index fell 0.2%, and the Nifty smallcap 100 index declined nearly 1%.

Sectoral Trends

Sector Name	% Change	Sector Name	% Change
NIFTY FMCG	2.0	NIFTY CONSUMER DURABLES	0.4
NIFTY PRIVATE BANK	1.1	NIFTY AUTO	-0.1
NIFTY BANK	1.1	NIFTY PHARMA	-0.2
NIFTY FINANCIAL SERVICES	0.8	NIFTY PSU BANK	-0.2

Technical Outlook: Key Indices

Indices Name	Support	Resistance
Nifty	24,700	25,100
Bank Nifty	50,500	51,600

Top News

• VST Industries shares dropped 9% as investors took profits after an 18% surge due to the record date for its 10:1 bonus issue. The record date was revised from August 30 to September 6.
• Deep Industries shares jumped 20% after securing a ₹1,402 crore order from ONGC, doubling its order book of ₹1,246 crore as of June 30, 2024.
• SpiceJet shares rose 4% after announcing a deal to issue shares to Carlyle Aviation, converting part of its $137.68 million dues into equity. This restructuring will reduce SpiceJet’s dues to $97.51 million.
• Mumbai-based realty player Arkade Developers’ IPO to open on September 16 for looking raise 410 crores
• Logistics firm Western Carriers’ IPO to open on Sep 13.

Top Gainers and Losers

Focus Smallcase Updates

• The Prime Five smallcase has delivered over 17% in just three months since its launch, significantly outperforming the benchmark index.