HDFC Bank, SBI plan to raise Rs 10,000 crore through AT-1 bonds this week: Report
Last week, the Bank of Baroda issued AT-1 bonds worth Rs 2,474 crore at a cutoff of 7.88 percent.
Finance minister Nirmala Sitharaman: We have shown we are committed to process of disinvestment by selling stake in LIC; will go ahead with banking sector reforms as well.
Adani Ports SEZ down 1.5%
The Supreme Court allowed Adani Ports and Special Economic Zone Ltd. to bid for port projects in future, although the company cannot claim rights on its bids for two port projects in Visakhapatnam on the eastern coast and Jawaharlal Nehru Port near Mumbai on western coast, Bloomberg report said. Adani’s disqualification for Visakhapatnam port project will not be used for disqualification of its future bids, the court ruled, Bloomberg report added.
Federal Bank on merger rumors:
We wish to clarify categorically that the news report of a merger between Federal Bank and another private bank is speculative in nature. In this regard, we would like to state that there is no information available with the Company as of today.
Speaking at an event, finance minister Nirmala Sitharaman said the world order is seeing significant changes. She added that brownfield, greenfield infrastructure will take priority over next 25 years. She also said the government will aim to ensure equitable growth, without entitlements.
All indices in green
All sectoral and broader market indices are trading in green now. The biggest gainer in Nifty Media that is up 2% thanks to rally in Dish TV.
Some small-cap stocks held by ETF bet big on a high-alpha strategy
Kotak Nifty Alpha 50 ETF tracks the top 50 stocks in terms of high alpha chosen from the top 300 companies
“COMEX gold trades mixed near $1,710/oz as market players assess US jobs report in light of Fed’s monetary tightening stance. Weighing on price is firmness in the US dollar which is holding near 2002 high, weaker investor interest and concerns about consumer demand in China. However, supporting price are Europe’s power crisis, China’s virus spread and renewed US-China tensions. The general outlook for gold remains weak however with market players positioning for ECB meeting this week some correction in the US dollar and recovery in gold can’t be ruled out.” said Ravindra Rao, CMT, EPAT, VP- Head Commodity Research at Kotak Securities.
Tirthankar Das, Technical & Derivative Analyst, Retail, Ashika Stock Broking
Nifty formed a sideways inside day formation following the long Bullish candle registered on Aug 30, also there are evidence of reversal pattern in weekly time frame hence in coming sessions, key thing to watch will be a faster retracement above August highs of 18,000 that will signal end of the ongoing corrective phase. Else, prolonged consolidation in 17,200-17,800 range is expected to continue. On the oscillator front, the 14-period RSI has witnessed a sell crossover and presently trading below the 60-level mark. Thus, one need to avoid trading aggressively amid global nervousness.
Reliance Power jumps 8%
Reliance Power was up 8% after the company and its unit signed a pact with Varde Partners to raise as much as Rs 1,200 crore in debt. The funds will be used to refinance existing debt of Reliance Power; drawdown pending finalization and execution of binding documents and approvals, the company said in an exchange filing
Stock Market Live Updates: Sensex extends gains, jumps 350 points; Forbes Company, Paytm fall 4% each - Moneycontrol
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