Business News Live: Hello and welcome to ABP Live’s Business LIVE blog. Please follow this space for all the breaking news and latest updates from the Stock Market, economy, and the corporate world. Here are some important events will be keeping an eye on September 5.
Both Sensex and Nifty ended Monday on a high note, with the S&P BSE Sensex up by more than 200 points and the Nifty50 up beyond the 19,500 mark. The stock market on Tuesday will be looking forward to domestic economic data.
Market Moves
India’s services PMI, in addition to the composite purchasing managers’ index (PMI) data for August are both expected to be released on Tuesday. This is expected to leave it’s mark on the markets. Globally, China will release it’s services, composite PMI data along with forex data in the week.
Further, market saw foreign institutional investors (FIIs) sell stocks worth Rs 3,367.7 crore on Monday, while domestic institutional investors (DIIs) bought equities worth Rs 2,563.5 crore, as per the data from the NSE.
Crude expectations are projected to tend toward the higher end on possibilities of continued supply cuts from the OPEC+ group. Brent crude was trading around $89 a barrel on Monday.
IPOs and Debuts
Vishnu Prakash R Punglia will make it’s debut on the stock markets on Tuesday. The company received 87.82 times bids on the last day of it’s IPO. Jupiter Life Line Hospitals is expected to open it’s issue for public from September 6-8. The company’s fresh issue will comprise 73.74 lakh equity shares coming up to about Ts 542 crore, and an offer-for-sale (OFS) worth Rs 327.1 crore. The price band is fixed in the range of Rs 695–735 per share. Additionally, Basilic Fly Studio Limited, Pramara Promotions Limited, and Saroja Pharma Industries India Limited will close bidding for their IPOs each on Tuesday.