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On Monday, equity indices surged nearly 1%, driven by optimism around potential US Federal Reserve interest rate cuts. Trent dropped 0.27%, Honasa Consumer soared 8%, and NIIT climbed nearly 20%. Analyst Avdhut Bagkar discussed upcoming projections and important support levels for these stocks when markets reopen today.

Marc Faber noted a five-year bear market in Thai stocks, now bottoming out. He considered Hong Kong properties and stocks undervalued. Faber linked low-value Chinese stocks to ongoing criticism from the US and European media. He also discussed inflation and currency issues, predicting a rise in gold and other commodities.

I think this dip 500 to 525 seems to be a good enough price to get in. Company has adequate growth triggers in place and the business model is absolutely robust and stood the test of time. So, we remain convinced on the growth story of this company.

​So, you may still be able to get those kind of growth rates assuming that the market valuations do not contract. But I would imagine that it is possible that you will get a little less than the earnings growth as well to be able to correct for the kind of market growth.

Asian markets moved in narrow ranges following declines in tech giants dragging Wall Street down. Japanese and South Korean stocks turned slightly positive, with mild gains in Australia. Nvidia earnings, expected to be strong, could impact the market significantly. The Fed’s potential rate cuts and China’s trade tensions with Canada are also under scrutiny.

Stocks in news: The domestic market had a promising start this week, aided by a dovish stance from the US Fed. Shares of Ultratech, Paytm, HCL Tech, Gland Pharma, and GPT Infra gained attention due to various developments. Key moments included Sameera Agro’s bonus shares issue, HCLTech’s extended partnership, and GPT Infraprojects’ QIP approval. UltraTech raised $500 million through a sustainability-linked loan.

The SME IPO of Resourceful Automobile saw a strong response, with a subscription of nearly 400 times. Despite only running two Yamaha dealerships, the IPO aimed to raise Rs 12 crore and received Rs 2700 crore in bids. Shares were offered at Rs 117 each. Swastika Investmart was the lead manager, and Cameo Corporate Services handled registration.

Domestic equity indices closed higher on Monday, with IT stocks driving gains. The S&P BSE Sensex rose 0.75% to 81,698, and the NSE Nifty50 finished above 25,000. Nagaraj Shetti of HDFC Securities noted that a sustained move above 25,000 could target 25,300-25,400, with immediate support at 24,850.

The Indian rupee remained almost flat on Monday, and closed at 83.90 versus the US dollar as demand for dollars from local banks and corporates remained steady due to month end demand, traders said.

The index displayed a strong bullish signal on the daily chart, forming a long candle with a small upper shadow. This suggests an attempt to break through the resistance level created by the downward gap on August 2nd, which was around 24,950-25,000. Furthermore, the significant downward gaps observed on August 2nd and 5th have been fully closed, around 24,950 and 24,680 respectively. Nagaraj Shetti of HDFC Securities views this as a positive development.