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Stocks in News

* INTELLECT DESIGN: Debal Dutt resigned as Chief Marketing Officer effective August 31, and the company appointed Rajesh Makhija as his successor from September 1.

* MANGALORE CHEMICALS: The company signed a business transfer agreement with Zuari Agro Chemicals to acquire its fertilizer business in Maharashtra.

* FIEM INDUSTRIES: The company resumed production on the undamaged floors of its Alwar facility after a fire incident at Unit-8 on August 23.

* EPACK DURABLES: The company invested Rs.10 crore in its subsidiary, EPACK Manufacturing Technologies.

* BLS INTERNATIONAL: BLS International FZE, a subsidiary, subscribed to 100% stake in BLS Consular Services.

* EMAMI: The company re-appointed Mohan Goenka as Vice-Chairman and Whole-Time Director, and Sushil Kumar Goenka as Whole-Time Director.

* PG ELECTROLAST: Subsidiary Next Generation Manufacturers signed an MoU with Maharashtra to invest Rs.1,000 crore in a greenfield project at Ahilyanagar.

* HEG: Subsidiary TACC signed a technical collaboration agreement with Ceylon Graphene Technologies to accelerate commercialization and large-scale adoption of graphene and its derivatives.

* BEML: The company received an order worth Rs.80 crore from Indian Railways for the supply of utility track vehicles.

Economic News

* Indian steelmakers urge government for minimum import price amid global slump: Indian steelmakers are requesting a minimum import price from the government as current safeguard duties prove insufficient amidst falling global prices. Industry executives report that hot rolled coils are trading significantly lower than expected, impacting profit margins. Analysts suggest a balanced approach, considering consumer prices and anticipating stable raw material costs and subdued global demand

Global News

* US Q2 GDP revised to 3.3% on AI-led investment, but tariff pressures threaten growth ahead: The U.S. economy expanded faster than initially estimated in Q2, with GDP revised up to 3.3% from 3.0%. The upgrade was led by stronger business investment in AI-driven intellectual property and equipment. Consumer spending, the key growth driver, was also revised higher to a 1.6% pace. Business investment in intellectual property grew 12.8%, the fastest in four years. Equipment investment was upgraded to 7.4% from 4.8%, showing resilience in capital spending. Profits rebounded by $65.5 billion last quarter after falling in Q1. Corporate margins held steady at 20.8%, despite tariffs raising costs for businesses. Tariffs remain a major drag, with Caterpillar warning of $1.5 billion in costs this year. GM reported a $1.1 billion tariff hit in Q2, while Abercrombie flagged $90 million higher costs. Economists warn growth could slow to 1.5% for 2025, down from 2.8% in 2024. They see Q2’s strength as temporary, masked by import disruptions and tariff pauses. Labor market data showed jobless claims slipping to 229,000, but hiring remains muted. Unemployment is expected to edge up to 4.3% in August from 4.2% in July. A shrinking labor pool due to immigration curbs is easing pressure on unemployment. Fed Chair Powell signaled possible rate cuts in September to counter labor market risks.

Technical Snapshot

Key Highlights:

NIFTY SPOT: 24426.85 (-0.3%)

TRADING ZONE:

Resistance : 24600 (Pivot Level) and 24750 (Key Resistance).

Support: 24400 (Pivot Level) and 24250 (Key Support).

BROADER MARKET: UNDERPERFORMED

MIDCAP 150: 55727.4 (-0.57%), SMALLCAP 250: 17227 (-0.39%)

VIEW: BEARISH TILL BELOW 24750(Key Resistance).

BANKNIFTY SPOT: 53655.65 (-0.31%)

TRADING ZONE:

Resistance: 54500 (Pivot Level) / 55000 (Key Resistance)

Support:53500 (Swing Low) / 53200 (Key Support)

VIEW: BEARISH TILL BELOW 55000 (Key Resistance).

Government Security Market:

* The Inter-bank call money rate traded in the range of 4.85%- 5.55% on Friday ended at 5.25% .

* The 10 year benchmark (6.33% GS 2035) closed at 6.5678% on Friday Vs 6.5328% on Thursday .

Global Debt Market:

U.S. Treasury yields were little changed on Friday as investors awaited a key inflation measure and monitored the latest developments in President Trump’s attempts to fire Federal Reserve Governor Lisa Cook. The benchmark 10-year Treasury yield was up just over one basis point to 4.226%, while the 2-year yield was little changed at 3.635%. The major economic data release on Friday will be July’s personal consumption expenditures price index an inflation gauge favored by the Fed which will be released in the morning. Investors will parse through the data for more insights into the impact of tariffs on the U.S. economy. Economists polled by Dow Jones expect the reading to show a 0.2% monthly increase and a 2.6% yearly increase. Investors are also keeping an eye on the Trump-Cook situation as a judge set an emergency hearing for Friday at 10 a.m. ET on Cook’s request to block Trump from firing her. Cook’s removal will give Trump the opportunity to create a board of governors who are more dovish. Trump first announced his plans to remove Cook in a letter posted on social media on Monday, and referenced allegations made by Federal Housing Finance Agency Director Bill Pulte that Cook made false statements on applications for one or more of her home mortgages. Cook filed a lawsuit to challenge the decision on Thursday. Fed Chairman Jerome Powell and the central bank’s board of governors are also named in the suit as defendants. Cook’s lawsuit will likely end up being decided by the Supreme Court.

10 Year Benchmark Technical View :

The 10 year Benchmark (6.33% GS 2035) yield likely to move in the range of 6.53% to 6.55% level on Monday

SEBI Registration number is INH000000081.

Please refer disclaimer at https://geplcapital.com/term-disclaimer