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“For me, the red flags are global. What is concerning me is the way commodities have been going up, especially crude. And energy has a very big inflationary impact. You are seeing that in US bond yields and the US dollar. The risk to Indian markets is more global and that will get expressed by a global kind of correction or aggressive FII selling.”

​With about a 6.5% GDP growth, inflation having peaked out, rate hikes behind, currency by and large stable and external balance also in fine fettle. And you add to that the 30% sort of growth that we saw in FY22 or rather 38. On top of that, you have seen 10% earnings growth in FY23.

​This indicates a bullish sentiment in these counters as the average traded and delivered quantity for five days, the cumulative open interest, and the price of the stocks have increased. ​

JSW Infra IPO will open for subscription on September 25 and run till September 27. The company looks to raise Rs 2800 crore from initial share sale, which will be a first from JSW Group in nearly 13 years. The company had filed the draft prospectus with Sebi in May this year.

The director, Sridhar Kalyanasundaram, who was appointed to the board in December last year, wrote a resignation letter to the board detailing his differences regarding the rights issue of shares, complained of lack of support from other board members and raised concerns over their ‘lack of in-depth banking knowledge’.

On Comex, gold futures were trading at $1,949 per troy ounce on Monday, up by $3.30 or 0.17% while silver futures were at $23.455, lower by $0.069 or 0.30%.

Global funds piled a net $17 billion into the nation’s equities in the first eight months of this year as optimism over growth in the economy and corporate earnings, along with persistent weakness in China, boosted the market’s appeal. They have been sellers of local stocks so far in September.

Shares of Jupiter Life Line Hospitals debuted at a premium of 32.4% on NSE and 30.6% premium on BSE. Jupiter Life Line Hospitals was subscribed 63.72 times overall, with QIB category subscribed 187 times. The company aims to be debt-free post the IPO. The proceeds from the issue will be utilized to the extent of Rs 464 crore for repayment of debt.

InCred initiated coverage on Fusion Micro with an ADD rating and a target of Rs 800. Robust growth was led by deepening penetration and diversified presence.