Important Information For September 9 Stock Trading Strategy

2022-09-24 00:29:51 By : Mr. Yong Wu

The foreign institutional investors bought shares worth Rs 2,913 crore, whereas the domestic institutional investors sold shares worth Rs 212 crore on Thursday

Why was it so important for the Karnataka government to hold Ganesh Chaturthi puja in an Idgah maidan somewhere in the state? Was it something to do with the fact that assembly elections are around the corner?

With the tide of majoritarian appeasement, fuelled by the ruling political establishment, there are efforts now to even exempt the Gyanvapi mosque-Shringar Gauri dispute in Varanasi from the ambit of the Places of Worship (Special Provisions) Act, 1991.

If the Ram Temple movement established the saffron outfit in the Hindi belt, the Hubballi campaign catapulted it to power in the state

PFI came into being in response to violence against Muslims. Political silence on it only helped the fundamentalist outfit grow in coastal Karnataka

The 1990s decade was dominated by the Ram Janmabhoomi-Babri Masjid row. Now, the Gyanvapi mosque row has added another chapter to the country’s history of disputes over religious structures and the spaces they occupy.

The Indian equity benchmarks are set to open on a positive note on Friday as indicated by the Nifty Futures traded on the Singapore Exchange. The SGX index was trading 86 points or 0.48 per cent higher at 17,905.

Here are key things to know before markets open. 

The US stocks ended higher on Thursday, thus extending its first weekly gains in four weeks. The S&P 500 surged by 26.31 points or 0.7 per cent higher to 4,006, whereas the Dow Jones Industrial Average advanced 193.24 points or 0.6 per cent to 31,774. While the Nasdaq rose 70.23 points or 0.6 per cent to 11,862, the Russell 2000 index was trading 14.90 points or 0.8 per cent to 1,846. 

The Asian stocks were trading higher on Friday following gains by Wall Street. Japan’s Nikkei advanced 0.3 per cent, whereas South Korea’s KOSPI surged 0.33 per cent. While China’s Shanghai Composite advanced 0.40 per cent, Shenzhen Component gained 0.49 per cent. Singapore’s Hang Seng index was trading 2.01 per cent. 

Crude oil prices were trading lower in early trade on Friday, amidst the worries of an aggressive rate hike by the US Federal Reserve and China’s Covid19 restrictions will hurt the demand. Brent crude futures fell 12 cents or 0.1 per cent to $89.03 per barrel by 0051 GMT, whereas the US crude futures declined by 19 cents or 0.2 per cent to $83.35 per barrel.

The gold prices surged on Friday. Spot gold surged 0.4 per cent to $1,713 ounce as of 0110 GMT, whereas the US gold futures was trading 0.3 per cent higher at $1,724.

The foreign institutional investors bought shares worth Rs 2,913 crore, whereas the domestic institutional investors sold shares worth Rs 212 crore on Thursday.

IndiGo- The stocks of InterGlobe Aviation, the parent company of IndiGo will remain on focus today, after the Gangwal family, who were amongst the promoters of the airline sold a 2.74 per cent stake through open market transaction. Rakesh Gangwal sold shares up to the base price of Rs 1,886 and 26.02 lakh shares at Rs 1,890 each, whereas Shobha Gangwal sold 21.65 lakh shares at an average price of Rs 1,895 apiece and 30.22 lakh shares at an average price of Rs 1,901.34 per share. 

HDFC Bank- HDFC Bank said that it has mobilised Rs 3,000 crore from bonds for buiness growth. The bank has issued bonds on a private placement basis . These unsecured, Subordinated, Fully Paid-Up, Non-Convertible, Basel III Compliant Perpetual Debt has a rate of 7.84 per cent. 

Vodafone Idea-  The government will acquire a stake in debt-ridden Vodafone Idea. The beleaguered telecom has offered a stake to the government at a par value of Rs 10 per share.   

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