Nifty breaks crucial support, may slide to 24,500 level; Hero Motors withdraws DRHP for IPO

A long bear candle was formed on Nifty’s daily chart, indicating a continuation of steep downside momentum. The positive chart pattern of higher tops and bottoms on the daily chart seems to have been negated, with Nifty moving below the last higher bottom of 24,753 levels in today’s session. The underlying trend of Nifty remains negative. After declining below the crucial support of 25,100-25,000 levels recently, Nifty could slide down towards another lower support of around 24,500-24,400 in the near term. Immediate resistance to watch is at 25,000 levels, said Nagaraj Shetti of HDFC Securities.

In the open interest (OI) data, the highest OI on the call side was observed at 25,000 and 25,100 strike prices, while on the put side, the highest OI was at 24,500 strike price followed by 24,700.

HDFC Bank Divests 100% Stake in HDFC Edu for Rs 192 Crore

India's largest private sector lender, HDFC Bank, announced that its board has approved the sale of its 100% stake in subsidiary HDFC Education to Vama Sundari Investments in an all-cash deal amounting to Rs 192 crore. The sale price is Rs. 9.60 per share.

US Stocks Open Lower as Changing Rate Expectations Boost Yields

Wall Street's main indexes fell at the open on Monday, pressured by a rally in Treasury yields as investors dialed back bets on the scope of Federal Reserve interest rate cuts this year. The Dow Jones Industrial Average fell 63.2 points, or 0.15%, to 42,289.51. The S&P 500 fell 13.3 points, or 0.23%, to 5,737.8, while the Nasdaq Composite dropped 57.7 points, or 0.32%, to 18,080.115.

FIIs Sell Indian Equities Worth Rs 8,293 Crore on Monday

Foreign Institutional Investors (FIIs) sold Indian equities worth Rs 8,293.41 crore on Monday as headline indices S&P BSE Sensex and Nifty fell for the sixth consecutive session. Meanwhile, domestic institutional investors (DIIs) were net buyers at Rs 13,245.12 crore.

SAT Stays Sebi's Order to Ban Omaxe, Others from Securities Market

The Securities Appellate Tribunal (SAT) has stayed a Sebi order that barred realty firm Omaxe, its Chairman Rohtas Goel, Managing Director Mohit Goel, and others from the securities market for two years for misrepresentation in the company's financial statements. The latest order came after Omaxe and others challenged the order passed by Sebi on July 30.

UAE Wealth Fund Starts Operations in India's New Finance Hub

Abu Dhabi Investment Authority (ADIA), the largest sovereign wealth fund in the UAE, has started operations in India's tax-neutral finance hub, the Gujarat International Finance Tec-City (GIFT City). The Indian government is promoting GIFT City as a "gateway for global capital and financial services".

Suraksha Diagnostic Gets Sebi's Go-Ahead to Float IPO

Integrated diagnostic chain Suraksha Diagnostic Ltd has received Sebi's approval to raise funds through an initial public offering (IPO). The Kolkata-headquartered company's proposed IPO consists of an Offer-for-Sale (OFS) of up to 1.92 crore equity shares by promoters and investor shareholders, with no fresh issue component, according to the Draft Red Herring Prospectus (DRHP).

Hero Motors Withdraws DRHP for IPO

Hero MotoCorp Ltd. Vol: 682.78K 5501.55 -19.31 (-0.35%) Price as on 04:09:59 PM

Northern Arc Introduces 'Finserv Fund' to Boost Financial Inclusion

Northern Arc launched the 'Finserv Fund', a performing credit AIF (Category II), targeting Rs 1,500 crore. Focused on sectors like MSMEs, affordable housing, and agricultural finance, it aims to enhance financial inclusion. The fund targets gross returns of 14.00-14.50% XIRR over four years.

Northern Arc Capital Ltd. Vol: 1556.16K 278.95 -13.41 (-4.59%) Price as on 03:45:40 PM

Indian Markets Enter Consolidation Phase with High Risk of Underperformance

The Indian markets have entered a consolidation phase with a high risk of underperforming compared to Asian peers. This phase is marked by significant corrections in the broader market due to premium valuations. There is notable global arbitrage activity, with Chinese markets attracting substantial inflows driven by its attractive valuations and stimulus measures. Investors are reassessing their portfolio positions, and FIIs outflows are exacerbated. Amid escalating geopolitical tensions, surging oil prices pose a further challenge to the domestic economy in the short term.