Nifty, Sensex will take a cue from global markets – Weekly closing report
Moneylife Digital Team 09 September 2021
We had mentioned in previous week’s closing report that Nifty, Sensex were headed higher. The major indices rallied this week but ended with minor gains. The trend of the major indices in the week is given in the table:
 
 
On Monday, the indices opened higher and closed with minor gains. On the NSE, there were 978 advances, 985 declines and 90 unchanged.
 
Reliance Industries subsidiary Reliance Strategic Business Ventures acquired 2.28 crore equity shares in Strand Life Sciences for Rs 393 crore. 
 
ICICI Lombard received the final approval from the insurance regulator IRDAI for the proposed scheme of arrangement with Bharti AXA General Insurance Company.
 
Ashoka Buildcon received a letter of award from Adani Road Transport for an EPC contract for six laning of the NH-19 corridor in West Bengal for a price of Rs 1,567.45 crore.
 
Chennai Petroleum Corporation Limited awarded a project to Engineers India for a value of Rs 1,039 crore.
 
On Tuesday, the indices opened higher but were volatile and ended flat. On the NSE, there were 685 advances, 1,301 declines and 87 unchanged.
 
LIC Housing Finance and India Post Payments Bank (IPPB) announced a strategic partnership for providing home loan products to over 4.5 crore customers of IPPB. 
 
Dr. Reddy's Laboratories launched Mintop – a Minoxidil topical solution USP 2% and 5% for the treatment of female pattern hair loss.
 
JSPL sales volume in August 2021 increased 6% month-on-month and 4% year-on-year (YoY) to 7.1 lakh tonnes.
 
JSW Steel reported 5% jump in crude steel production in August 2021 at 13.77 lakh tonnes.
 
On Wednesday, the indices were volatile and ended flat. On the NSE, there were 1,062 advances, 918 declines and 1 unchanged.
 
Maruti Suzuki’s production numbers for August 2021 showed decline of 7.9% at 1.14 lakh units against 1.24 lakh units in the same period last year.
 
Adani Power Maharashtra was declared as successful bidder for commercial mining of Gondkhari coal block in Maharashtra.
 
In its first case it has heard and dealt with under the IT Act 2000, the Rajasthan government imposed a fine of Rs 27 lakh on Vodafone Idea Ltd on a data leak matter.
 
Life Insurance Corporation of India sold more than 2.07 lakh equity shares of ICRA via open market transaction, reducing shareholding to 5.81% from 7.96%.
 
On Thursday, the indices opened lower but ended flat. On the NSE, there were 1,089 advances, 901 declines and 91 unchanged.
 
Adani Green listed its maiden USD 750 million green bonds with 3-year maturity at a competitive coupon of 4.375%. The bonds were rated Ba3 (stable) by Moody’s and have garnered huge investor interest across the globe.
 
The Reserve Bank of India lifted Prompt Corrective Action (PCA) restrictions on UCO Bank.
 
Reliance Infra’s Arbitral award was upheld in favour of the company by the Supreme Court, making DMRC liable to pay Rs 2,800 crore plus interest to the firm.
 
Greaves Cotton announced its entry into the multi-brand electric vehicle retail segment.
 
The equity markets will remain closed on Friday on account of Ganesh Chaturthi.
 
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