Latest Stock Market News

The FOMC meeting starts on September 17, with expectations for a 25 basis point rate cut. Chair Jerome Powell will provide insights on future rate cuts and economic conditions. Domestically, seven IPOs, including two mainboard and five SMEs, are set to open next week, along with 13 listings, notably Bajaj Housing Finance.

During this rally, 9 penny stocks experienced price increases ranging from 20% to 55%

The Reserve Bank of India announced that there will be no transactions in government securities, foreign exchange, money markets, and rupee interest rate derivatives on September 18 due to a public holiday in Maharashtra for Eid-e-Milad. The previously declared holiday on September 16 has been canceled.

Sebi has dropped charges of fraudulent and unfair trade practices against NSE and seven former employees, including Chitra Ramkrishna and Ravi Narain, in the co-location case due to lack of evidence. The case had prompted a CBI probe and led to arrests of top NSE officials.

FPIs have been net buyers of Indian equities in September, investing over Rs 27,856 crore so far. Year-to-date investments total Rs 70,737 crore. FPIs were net sellers in April and May but have been net buyers since June, with a peak in July.

The markets reached new lifetime highs last week, with the Nifty closing at a fresh peak. Despite a strong trend, caution is advised due to significant deviation from the mean and potential for profit-taking. Key resistance and support levels are outlined for the coming week.

Mutual funds bought 1.6 crore shares of Adani Energy Solutions in August, valued at Rs 1,330 crore. Other Adani Group stocks like APSEZ, Ambuja Cements, and ACC also saw mutual fund interest. SBI Mutual Fund was a major buyer of Adani Energy, acquiring 73.73 lakh shares. Tata MF and Nippon MF also purchased Adani Energy shares.

Congress has intensified its scrutiny of SEBI Chairperson Madhabi Puri Buch, accusing her of trading listed securities worth ₹36.9 crore and investing in foreign, including Chinese, funds between 2017 and 2023. Congress spokesperson Pawan Khera has called for Prime Minister Narendra Modi to address these allegations and questioned Buch’s adherence to SEBI’s conflict of interest guidelines. Buch and her husband have refuted the charges, labeling them as false and motivated.

Rajesh Palviya of Axis Securities predicts a strong performance for Bank Nifty and Nifty in the coming week, with potential gains in private banks and midcap stocks. He suggests buying DLF, Voltas, and L&T Finance based on recent trends and technical analysis.

Arkade Developers raised Rs 122.40 crore from anchor investors ahead of its IPO. BNP Paribas Financial Markets ODI was the largest anchor investor, acquiring 20.43% of the allocated shares. The IPO opens for subscription on Monday, September 16.