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Stocks in News

* MPHASIS: Blackstone Inc. plans to sell up to 9.5% equity through block deals, with BCP Topco IX Pte offering 1.8 crore shares at Rs.2,570 each about a 4.4% discount to the last close of Rs.2,688.7 implying a deal size of roughly Rs.4,626 crore.

* WPIL: The company’s subsidiary has secured a Rs.426 crore order from METSI KE MATLA JV for the MCWAP2 project under the Trans Caledon Tunnel Authority.

* DCX SYSTEM: The company, along with its subsidiary Raneal Advanced Systems, has secured international orders totaling Rs.22.9 crore.

* TATA POEWR: The company’s subsidiary has started operations at a 300 MW DCR solar project for NHPC in Bikaner.

* HECL TECH: The company has opened a Physical AI Innovation Lab in California in partnership with NVIDIA.

* VEDANTA: The company’s power division has secured a 5,000 MW power purchase agreement from the Tamil Nadu discom as of November.

* BANSAL WIRE: The company’s GST demand has been sharply reduced to Rs.69 lakh from the earlier Rs.45 crore.

* INDOKEM: The company has received a notice from the Maharashtra Pollution Control Board to shut its Ambernath unit within 72 hours over alleged air and water pollution violations.

* JSW INFRA: The company will acquire a 51% stake in an Oman Port SPV that will build and operate a port with a planned capex of $419 million.

* EMCURE PHARMA: Bain Capital, through BC Investments IV Ltd., will sell nearly 38 lakh shares worth Rs.492.7 crore via block deals, offering 2% equity at Rs.1,296.51 each about a 7% discount to Monday’s closing price.

Economic News

* India imposes five-year anti-dumping duty on liquid epoxy resins imports from China and three other countries: India has imposed a five-year anti-dumping duty on liquid epoxy resins. This measure targets imports from China, Saudi Arabia, Taiwan, and South Korea. The government aims to protect domestic producers from low-priced imports. This action follows an investigation into unfair pricing practices. The duty seeks to ensure fair competition and stable pricing for essential manufacturing inputs in the Indian market.

Global News

* U.S. construction spending edges up on renovation demand despite weakness in new homebuilding: U.S. construction spending rose 0.2% in August, surprising economists who expected a decline, mainly driven by home renovation activity as high mortgage rates continued to pressure new singlefamily housing. Overall spending was still down 1.6% YoY. Private construction increased 0.3%, with residential up 0.8%, but new single-family projects slipped 0.4% while multi-family rose slightly. The rise in residential spending was likely fueled by renovations. Mortgage rates had fallen after the Fed resumed rate cuts, which may support activity in September, but they have since stalled as policymakers signaled caution. Weak labor markets and high housing inventory are also weighing on new building. Nonresidential private construction fell 0.3%, and public construction was flat, with federal spending down 0.8%.

Technical Snapshot

Key Highlights:

NIFTY SPOT: 26013.45 (0.4%)

TRADING ZONE:

Resistance: 26150 (Multiple Touches) and 26300 (Key Resistance). Support: 25800 (Pivot Level) and 25700 (Key Support).

BROADER MARKET: Inline

MIDCAP 150: 61180.5 (0.73%), SMALLCAP 250: 18347.6 (0.52%)

VIEW: Bullish Till Above 25700 (Key Support).

BANKNIFTY SPOT: 58962.7 (0.76%)

TRADING ZONE:

Resistance:59250 (Pivot Level) / 59550 (Key Resistance) Support: 58700 (Pivot Level) / 58500 (Key Support)

VIEW: Bullish Till Above 58500 (Key Support)

Government Security Market:

* The Inter-bank call money rate traded in the range of 4.75%- 5.45% on Monday ended at 5.00%.

* The 10 year benchmark (6.48% GS 2035) closed at 6.4978% on Monday Vs 6.4864% on Friday .

Global Debt Market:

U.S. Treasury yields inched lower on Monday as investors anticipated a packed week of delayed economic data releases. At 4:55 a.m. ET the 10-year Treasurry yield was more than 2 basis points lower at 4.125%. The 2-year note yield was one basis point lower at 3.598%. The 30-year bond yield declined 2 basis points to 4.726%. Last week, U.S. President Donald Trump signed a funding bill to end the U.S. government down, the longest in its history after lasting a total of 43 days. Investors faced an economic data blackout during the shutdown, but now a slew of delayed reports will be published this week. These are set to provide investors with a clearer picture of the health of the U.S. economy as well as insights on the Federal Reserve’s interest rate decision in December. The most important will be September’s nonfarm payrolls report which will be released by the Bureau of Labor Statistics on Thursday the first piece of economic data which went unreleased during the shutdown. Other delayed reports including August’s construction spending on Monday, and the trade balance for August on Wednesday. Investors will also be looking out for the FOMC minutes on Thursday, which should provide further clarity on rate moves in December.

10 Year Benchmark Technical View :

The 10 year Benchmark (6.48% GS 2035) yield likely to move in the range of 6.4850% to 6.4950% level on Tuesday.

SEBI Registration number is INH000000081.

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