August 2022

SANJU CHAUHAN at August 29, 2022 0

Stock Market Today: Sensex crashes 861 points, Nifty ends below 17,350-mark on weak global cues




Stock Request highlights The important- awaited 45th Annual General Meeting( AGM) failed to lift shares of Reliance diligence. The stock ended lower by0.7 per cent on the BSE. 
 
Chairman Mukesh Ambani said that the company will launch the Jio 5G services in India's crucial metro metropolises in the coming two months. either, Reliance Retail blazoned that they will launch their FMCG business this time. He also laid out race plan with Akash Ambani backing telecom, Isha Ambani Retail, and Anant Ambani joining new- energy perpendicular. READ further 

Coupled with tepid global mood after US Fed president Jerome Powell'sultra-hawkish statement at Jackson Hole, the frontline S&P BSE Sensex settled 861 points, or1.46 per cent, lower at,973. The Nifty50, too, shut shop at,312, down 246 points or1.4 per cent. 
 
In the broader request, the BSE MidCap and SmallCap indicators closed up to0.8 per cent down. Among sectors, the Nifty FMCG indicator was the sole killer, up0.3 per cent. On the flipside, losses were led by the Nifty IT indicator( down3.5 per cent), and the Nifty Bank indicator( down 2 per cent). 

Specialized View Rupak De, Senior Technical Analyst at LKP Securities 

Nifty slipped sprucely lower as it broke down from connection on the diurnal map suggesting a rise in the bearish bet in the request. The instigation oscillator RSI is in bearish crossover and falling towards the oversold zone. The short- term trend at the juncture looks weak, on the lower end, the indicator may drift down towards 17000- 16950 over the short term. On the advanced end, resistance is visible at 17500. 

request note Vinod Nair, Head of Research at Geojit Financial Services 

Powell’s hawkish tone during the Jackson Hole council refocused towards a stricter rate hike while investors were awaiting a milder policy action post the release of the softer July affectation reading. This has increased concern about an profitable retardation, which has caused a significant sell- off in the US request and spillover goods on requests around the world. The sell- off in arising requests like India was aggravated by enterprises over the possible pullout of foreign finances, which was the backbone of the recent request rally. 

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SANJU CHAUHAN at August 27, 2022 0

Watch: Justice UU Lalit Takes Oath As The 49th Chief Justice Of India




New Delhi Justice Uday Umesh Lalit was sworn in as the 49th Chief Justice of India moment, a day after Justice NV Ramana retired from the loftiest judicial post. President Droupadi Murmu administered the pledge of office of the Chief Justice of India to Justice Lalit at Rashtrapati Bhavan this morning.

Justice Ramana had recommended Justice Lalit as his successor in keeping with convention and morals of senility. The President latterly verified Justice Lalit's appointment as the new Chief Justice of India or CJI.

Justice Lalit will have a brief term of 74 days as the head of India's bar and would retire on 8 November.

History at the farewell function of Justice Ramana, Justice Lalit said that during his term of nearly three months he'll concentrate on three crucial areas and one of his top precedences would be to make the table of cases simple, clear and as transparent as possible. 

Justice Lalit has also promised to insure a clear- cut governance where any critical matters can freely be mentioned before the separate benches of the top court. 
He assured that there will be at least one Constitution Bench performing throughout the time in the Supreme Court. 

Justice Lalit said," I've always believed that the part of the Supreme Court is to lay down law with clarity, thickness, and the stylish possible way to do it's to have larger benches as early as possible, wherever the matters are appertained to similar benches so that the issues get clarified incontinently, the matter has thickness and the people are well apprehensive of what exactly are the silhouettes of the peculiar positions in law." 

The gregarious CJI Ramana on his last working day apologised for not being suitable to list all the pending matters and said the court has been firefighting pendency, which rose alarmingly during the epidemic months. 
 
Justice Lalit was a famed elderly advocate before he came the judge of the Supreme Court. He was appointed a judge of the Supreme Court on August 13, 2014. 

Justice Lalit will be the alternate CJI who was directly elevated to the Supreme Court bench from the Bar. Justice SM Sikri, who came the 13th Chief Justice of India in January 1971, was the first counsel to be elevated directly to the top court bench in March 1964. 

Justice Lalit was born on November 9, 1957, in Maharashtra's Solapur. His father, UR Lalit, was an fresh judge at the Nagpur bench of the Bombay High Court and a elderly advocate at the Supreme Court. Justice Lalit enrolled as an advocate in June 1983. He specialised in felonious law and rehearsed at the Bombay High Court from 1983 to 1985. 

He shifted his practice to Delhi in January 1986, and in April 2004, he was designated as a elderly advocate by the top court. 
 
He was latterly appointed a special public prosecutor for the CBI to conduct the trial in the 2G diapason allocation case. 

After Justice Lalit's withdrawal on November 8, Justice DY Chandrachud is anticipated to be appointed as the 50th Chief Justice of India as he's coming in line for the post.

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SANJU CHAUHAN at August 13, 2022 0
< Veteran stock market investor Rakesh Jhunjhunwala dies in Mumbai

Veteran stock market investor Rakesh Jhunjhunwala dies in Mumbai




PM Modi condoles death of ‘ big bull ’
stager equity request investor and recently- launched Akasa Air author Rakesh Jhunjhunwala passed away on Sunday in Mumbai. He was 62.

Popularly known as the “ big bull ” of the Indian stock request, he'd multiple health issues. The protagonist of Akasa Air,Mr. Jhunjhunwala appeared days agone at its public launch. He's survived by his woman and three children.

The reason for his unforeseen demise is yet to be know from the family.Mr. Jhunjhunwala had investments in several Indian companies and had made a fortune in the last two decades. He was known as the “ Indian Warren Buffet ” for his investment chops.

Several politicians, including Prime Minister Narendra Modi and Home Minister Amit Shah, and assiduity leaders paid paeans toMr. Jhunjhunwala

Prime Minister Modi took to Twitter to pay paeans toMr. Jhunjhunwala and offered condolences to his family.

“ Rakesh Jhunjhunwala was insuperable. Full of life, facetious and perceptive, he leaves behind an unforgettable donation to the fiscal world. He was also veritably passionate about India’s progress. His passing down is depressing. My condolences to his family and sweeties. Om Shanti, ” PM Modi wrote.

Finance Minister Nirmala Sitharaman said she fondly flashed back several exchanges withMr. Jhunjhunwala and said he'd strong beliefs in India’s strength and capabilities.

“ Shri Rakesh Jhunjhunwala is no more. Investor, bold threat taker, masterly understanding of the stock request, clear in communication- a leader in his own right. Fondly flash back several exchanges we ’ve had. Had strong belief in India’s strength and capabilities. Condolences, ” he chitter read.

ShahMr. Jhunjhunwala will always be flashed back for his bullish outlook. “ agonized to learn about the passing down of Rakesh Jhunjhunwala Ji. His vast experience and understanding of the stock request have inspired innumerous investors. He'll always be flashed back for his bullish outlook, ” he twittered.

“ My deepest condolences to his family. Om Shanti Shanti. ”

Union Commerce and Industry Minister Piyush Goyal also condoled the demise of the ace investor. Taking to the microblogging point,Mr. Goyal said Mr. Jhunjhunwala was an alleviation for wealth creation for crores.

“ Deeply anguished at the demise of expert investor Rakesh Jhunjhunwala. He was an alleviation for wealth creation for crores. My sincere condolences to his family, musketeers and sweeties. Om Shanti, ” he wrote.

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SANJU CHAUHAN at August 13, 2022 0

Stock Market Today: Top 10 things to know before the market opens today










The market is expected to open in the green as trends in SGX Nifty indicate a positive opening for the broader index in India with a gain of 53 points

The BSE Sensex declined 52 points to 58,299, while the Nifty50 fell 6 points to 17,382 and formed a bearish candle on the daily charts yesterday.

As per the pivot charts, the key support level for the Nifty is placed at 17,199, followed by 17,015. If the index moves up, the key resistance levels to watch out for are 17,528 and 17,674.

Stay tuned to Moneycontrol to find out what happens in the currency and equity markets today. We have collated a list of important headlines across news platforms which could impact Indian as well as international markets:

Wall Street stocks ended mixed, with gains for high-growth stocks offset by the drag from energy shares, as a key US jobs report loomed on Friday. The S&P 500 edged slightly lower to 4,151.94, retreating from a two-month closing high in the previous session.

The Dow dropped 0.26% to 32,726.82, from near an almost three-month high on Wednesday. The Nasdaq, though, swung to a 0.44% gain to 13,311.041 from steep early losses, extending a three-month peak.

Asian Markets

Shares in Asia-Pacific were flat Friday as China conducts military exercises around Taiwan. The Nikkei 225 and the Topix index in Japan were fractionally higher. Australia’s S&P/ASX 200 sat just below the flatline. In South Korea, the Kospi rose 0.52% and the Kosdaq gained 0.45%. MSCI’s broadest index of Asia-Pacific shares outside Japan added 0.19%.

SGX Nifty

Trends in SGX Nifty indicate a positive opening for the broader index in India with a gain of 53 points. The Nifty futures were trading around 17,450 levels on the Singaporean exchange.

Bank of England raises key interest rate by 50 bps, highest since 1995
The Bank of England raised interest rates by the most in 27 years on Thursday, despite warning that a long recession is on its way, as it rushed to smother a rise in inflation which is now set to top 13%.

Reeling from a surge in energy prices caused by Russia's invasion of Ukraine, the BoE's Monetary Policy Committee voted 8-1 for a half percentage point rise in Bank Rate to 1.75% - its highest level since late 2008 - from 1.25%.

The 50-basis-point increase had been expected by most economists in a Reuters poll as central banks around the world scramble to contain the surge in prices.

Results on August 5 and August 6

Results on August 5: Mahindra & Mahindra, Titan Company, Engineers India, NMDC, FSN E-Commerce Ventures (Nykaa), IRB Infrastructure Developers, One 97 Communications, Petronet LNG, Aditya Birla Fashion and Retail, Alkem Laboratories, Pfizer, Raymond, Computer Age Management Services, Eris Lifesciences, Fortis Healthcare, Greenply Industries, Minda Corporation, Indigo Paints, Motherson Sumi Wiring India, R Systems International, Shipping Corporation of India, Talbros Engineering, UCO Bank, and Zensar Technologies.

Results on August 6: State Bank of India, Bharat Petroleum Corporation, Hindustan Petroleum Corporation, Marico, Advanced Enzyme Technologies, Affle (India), Amara Raja Batteries, Birla Corporation, Rossari Biotech, Skipper, Indo Rama Synthetics (India), Indian Overseas Bank, India Pesticides, Jagran Prakashan, Khadim India, Lumax Auto Technologies, Mahanagar Gas, Neogen Chemicals, Tarsons Products, Usha Martin, and West Coast Paper Mills.

SBI Q1 net profit seen 16% up but treasury could be a drag

State Bank of India (SBI) is expected to report robust balance sheet growth, improvement in asset quality and healthy core interest income for the June quarter. Treasury operations could prove to be the Achilles’ heel of the country’s largest lender in the quarter ended June, for which it will report its earnings on August 6. An average of the estimates by 10 securities firms shows that SBI’s June quarter net profit would be Rs 7,495 crore, up 16 percent year-on-year.

FII and DII data

Foreign institutional investors (FIIs) net bought shares worth Rs 1,474.77 crore, whereas domestic institutional investors (DIIs) net sold shares worth Rs 46.79 crore on August 4, as per provisional data available on the NSE.

Oil prices extend losses on demand worries

Oil prices extended losses on Friday, after hitting their lowest since before Russia's February invasion of Ukraine in the previous session, as the market fretted over the impact of inflation on global economic growth and demand.

Brent crude dropped 10 cents, or 0.1%, to $94.02 a barrel by 0047 GMT, while US West Texas Intermediate crude was at $88.48 a barrel, down 6 cents.

US weekly jobless claims increase, but labour market remains tight

The number of Americans filing new claims for unemployment benefits increased last week, suggesting some softening in the labor market, though overall conditions remain tight.

That was underscored by other data on Thursday showing a sharp decline in layoffs announced by U.S.-based companies in July. The still-low level of unemployment claims and brisk pace of hiring support views that the economy is not in recession despite gross domestic product contracting in the first half.

Stocks under F&O ban on NSE

The National Stock Exchange has added Escorts on its F&O ban list for August 5 as well. Securities in the ban period under the F&O segment include companies in which the security has crossed 95 percent of the market-wide position limit.

With inputs from Reuters and other agencies


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SANJU CHAUHAN at August 11, 2022 0

iPhone 14 Pro models price could be 15 percent higher than last year’s iPhones: Ming-Chi Kuo











A great deal has proactively been released online about the forthcoming iPhone 14 series. There are additionally reports about the cost of the cutting edge iPhones. While some have anticipated that the cost will be higher than the iPhone 13 series, a couple have guaranteed that the gadgets will be uncovered at the normal, worn out costs. Presently, expert Ming-Chi Kuo is recommending that Apple could build the costs of the iPhone 14 Pro models contrasted with last year's Pro variations.


While he didn't uncover the specific cost subtleties of the iPhone 14 series, he anticipated that the cost will increment by 15% contrasted with more seasoned Pro models. The iPhone 13 Pro accompanies a beginning cost of $999 in the US, while the iPhone 13 Pro Max is evaluated at $1,099. In this way, on the off chance that Apple is wanting to expand the cost by 15%, the iPhone 14 Pro could cost $1,099 and the Max model may be estimated at $1,199. This is fundamentally a $100 cost climb, which is something that other expert have likewise recommended before.

$100 is around Rs 8,000 in India, however Apple ordinarily fixes $1 as Rs 100. In this way, the cost climb is supposed to be near Rs 10,000. In India, the cost could be Rs 10,000 higher than the iPhone 13 series. The iPhone 13 Pro was made accessible in India for Rs 1,19,900, though the iPhone 13 Pro Max was at a bargain for Rs 1,29,900.

So with 15% climb, the cost of the iPhone 14 Pro could be Rs 1,29,900 and the Max variation could cost Rs 1,39,900. Do remember that this is only gossip and Apple will uncover the costs authoritatively in September 2022. The organization is yet to report the day for kickoff, yet facilitating its iPhone 14 occasion either on September 6 or September 13 is tipped. Thus, we are only half a month from the send off.

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