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Stocks in News

* MARUTI SUZUKI: The company reported a 6.3% YoY decline in August production to 1.58 lakh units, with passenger vehicle output also down 6.3% at 1.55 lakh units.

* BLS INTERNATIONAL: The company’s subsidiary, BLS International FZE, acquired a 100% stake in Consular Outsourcing Services Kenya.

* WEBSOL ENERGY: The company will invest Rs.3,000 crore to add 8 GW of solar capacity by 2028 through a new wholly owned subsidiary, and its board has approved a stock split of 1:10.

* FORTIS HEALTHCARE: A composite scheme of arrangement involving International Hospital, Fortis Hospitals, and Fortis Hospital has come into effect for the company.

* ZAGGLE PREPAID: The company partnered with Suryoday Small Finance Bank to offer its Zaggle Save platform for managing employee expenses and benefits.

* NTPC GREEN: The company commenced commercial operations of its 25 MW solar project in Bhuj, developed by Ayana Renewable Power Four.

* CEAT: The company acquired Michelin Group’s CAMSO Construction Compact Line business and announced a $171 million investment in Sri Lanka.

* NMDC: The company’s August update showed a 9.7% YoY rise in production to 3.37 million tonnes and a 7.9% increase in sales.

* COAL INDIA: The company’s August update reported a 9.4% YoY rise in production to 50.4 million tonnes and a 7.6% increase in sales to 56.7 million tonnes.

Economic News

* India steady amid levy, GST kitty up 6.5% in August: India's economy showed resilience in August, with strong domestic GST collections and UPI transactions offsetting concerns about higher US tariffs and declining car sales. Manufacturing activity surged, and power consumption rose, indicating robust domestic demand. While overall GST collection saw modest growth, economists remain cautious about external headwinds and tariff-related uncertainties impacting future growth.

Global News

* Euro zone manufacturing returns to growth in August on strong domestic demand.: Euro zone manufacturing expanded in August for the first time since mid-2022, driven by strong domestic demand and output, boosting hopes of sustained recovery. The HCOB Eurozone Manufacturing PMI rose to a three-year high of 50.7, up from 49.8 in July and above the 50.0 growth threshold. Factory output hit its fastest pace since March 2022, while new orders grew at their strongest in nearly three and a half years. Economists noted that rising domestic demand is helping offset weaker foreign demand amid U.S. tariffs. Greece and Spain led growth with PMIs above 54, while France and Italy also saw modest expansion. Germany’s PMI climbed to a 38- month high of 49.8, signaling stabilization after its economy contracted 0.3% last quarter. Manufacturers remained optimistic about the year ahead, though sentiment held steady compared to July. Prices charged fell slightly even as input costs edged higher. The ECB, targeting 2% inflation, kept rates at 2% in July and is expected to hold steady again in September before considering rate cuts later in the year.

Technical Snapshot

Key Highlights:

NIFTY SPOT: 24625.05 (0.81%)

TRADING ZONE:

Resistance : 24700 (Pivot Level) and 24800

(Key Resistance). Support: 24500 (Pivot Level) and 24400 (Key Support).

BROADER MARKET: OUTPERFORMED MIDCAP 150: 56825.5 (1.97%),

SMALLCAP 250: 17498.1 (1.57%)

VIEW: BEARISH TILL BELOW 24800(Key Resistance).

NIFTY SPOT: 24625.05 (0.81%)

TRADING ZONE:

Resistance : 24700 (Pivot Level) and 24800 (Key Resistance).

Support: 24500 (Pivot Level) and 24400 (Key Support).

BROADER MARKET: OUTPERFORMED

MIDCAP 150: 56825.5 (1.97%),

SMALLCAP 250: 17498.1 (1.57%)

VIEW: BEARISH TILL BELOW 24800(Key Resistance).

Government Security Market:

* The Inter-bank call money rate traded in the range of 4.75%- 5.55% on Monday ended at 4.95% .

* The 10 year benchmark (6.33% GS 2035) closed at 6.5850% on Monday Vs 6.5678% on Friday

Global Debt Market:

A key job report this week will either validate or upend bond traders’ wagers that the Federal Reserve will resume policy easing this month. Two-year Treasuries yield fell 34 basis points in August, marking the biggest monthly drop in a year as Fed Chair Jerome Powell said that the downside risks to the labor market may “warrant adjusting” policy stance. Interest-rate swaps showed traders priced in about an 80% probability that the Fed will cut rates by a quarter-point at the Sept. 16-17 meeting. Friday’s payroll data will be the last key official job report before Fed officials decide whether they will cut rates for the first time this year. Governor Christopher Waller said last week that he supports a quarter-percentage point reduction at the September meeting, but added that his view could change, if this week’s job report “points to a substantially weakening economy and inflation remains well contained.” Lackluster employment figures in August prompted traders to boost bets on policy easing, with some traders, at one point, even entertaining the possibility of a jumbo half-point reduction at the September meeting. Shortly after the report was published, President Donald Trump abruptly fired the head of the Bureau of Labor Statistics. Economists surveyed by Bloomberg expect Friday’s report to show the US economy added 75,000 jobs in August, with the unemployment rate ticking higher.

10 Year Benchmark Technical View :

The 10 year Benchmark (6.33% GS 2035) yield likely to move in the range of 6.57% to 6.59% level on Tuesday.

SEBI Registration number is INH000000081.

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