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Stocks in News

* SOMANY CERAMICS: The company has partially resumed operations at its Kassar, Bahadurgarh, Haryana plant after a temporary shutdown caused by natural gas supply disruption.

* BRIGADE ENTERPRISES: The company signed a long-term lease for 7 acres on Old Mahabalipuram Road, Chennai, and announced the resignation of CFO Jayant B Manmadkar, appointing Pradyumna Krishna Kumar as his successor.

* CEAT: CEAT OHT Lanka, the company’s subsidiary, signed a $171 million investment agreement with Sri Lanka’s Board of Investment, marking one of the largest Indian investments in the country’s manufacturing sector.

* R M DRIP AND SPINKLERS SYSTEM: The board approved a 10-for-1 stock split, dividing each Rs 10 share into 10 new shares of Rs 1 face value each.

* AXISCADES TECH: Alfonso Martinez Fernandez resigned as MD and CEO to head International Business & Global Operations and will assume the role of MD and CEO of AXISCADES GmbH.

* YES BANK: SMBC received RBI approval to acquire up to 24.99% stake in Yes Bank for one year, with RBI clarifying it will not be classified as a Promoter.

* INTERARCH BUILDINGS: The company secured a Rs 90 crore order from Rungta Mines to design and manufacture a pre-engineered steel building system.

* FIEM INDUSTRIES: The company reported a fire at Unit-8 in Alwar with no injuries or loss of life, initiated an insurance claim, and is taking steps to resume operations quickly.

* ORIENT ELECTRIC: The company received a demand order of Rs 51.6 crore, including penalty, from the Tamil Nadu tax authority.

* SJVN: The company announced that Prime Minister Narendra Modi virtually inaugurated the first 660 MW unit of the 1320 MW Buxar Thermal Power Project in Bihar.

Economic News

* IMD issues rain alerts across India: Jharkhand, Gujarat, Rajasthan, northeast and more brace for wet week ahead: IMD Weather Forecast Today: India is experiencing widespread monsoon rains. The India Meteorological Department issued alerts for several regions. Delhi and Mumbai are seeing moderate showers. Hill states and eastern India are facing heavy downpours. Jharkhand is particularly affected, with damage and fatalities reported. Gujarat and Rajasthan are expected to receive heavy rainfall.

Global News

* UK inflation expectations steady at 4% as long-term outlook eases to 3.9%: The British public’s short-term inflation expectations held steady at 4% in August, according to a Citi-YouGov survey. Longer-term expectations eased to 3.9% from 4.2%, returning to February levels, signaling gradual progress despite risks from persistent food price inflation. Citi analysts noted that while food costs could lift expectations in the coming months, the impact so far has been limited. Earlier this month, the Bank of England cut interest rates, though four of nine policymakers voted to keep them unchanged over inflation concerns. The BoE also raised its forecast for peak inflation to 4% in September from 3.7%, cautioning that higher prices could fuel wage growth and longterm price pressures.

Technical Snapshot

Key Highlights:

NIFTY SPOT: 24870.1 (-0.85%)

TRADING ZONE:

Resistance : 25150 (Pivot Level) and 25250 (Key Resistance).

Support: 24800 (Pivot Level) and 24500 (Key Support).

BROADER MARKET: OUTPERFORMED

MIDCAP 150: 57629.75 (-0.14%), SMALLCAP 250: 17919.5 (-0.26%)

VIEW: Bullish Till above 24800 (Pivot Level).

BANKNIFTY SPOT: 55149.4 (-1.09%)

TRADING ZONE:

Resistance: 55500 (Pivot Level) /56100 (Key Resistance)

Support: 54900 (Pivot Level) / 54600 (Key Support).

VIEW: Bullish Till above 54900 (Pivot Level)

Government Security Market:

* The Inter-bank call money rate traded in the range of 4.00%- 5.63% on Friday ended at 4.90% .

* The 10 year benchmark (6.33% GS 2035) closed at 6.5510% on Friday Vs 6.5278% on Thursday .

Global Debt Market:

U.S. Treasury yields were little changed on Friday as investors awaited Federal Reserve Chairman Jerome Powell’s speech at Jackson Hole, which will be pivotal to understanding the path of monetary policy. At 5:22 a.m. ET, the 10- year Treasury yield rose less than one basis point to 4.337%. The 2-year Treasury yield was also less than a basis point higher at 3.795%. The big event for investors today will be Powell’s speech in Jackson Hole, Wyoming, where global central bankers have been gathering since Wednesday for the Fed’s annual economic symposium. It will be one of the most important speeches by a central bank official as it will outline the central bank’s long-term economic plans, such as inflation targets and how it considers employment. The speech will also offer more clarity about the interest rate outlook and how Powell will balance both sides of his dual mandate. Markets were last pricing in a 71% chance of an interest rate cut at the September meeting, according to the CME Group’s FedWatch tool. It’s also notable that this speech is likely Powell’s last before his term as Fed chair ends in May 2026. “We’ll learn more on the Fed’s thinking today at Jackson Hole, with all eyes on Powell’s speech at 10 a.m. EST,” Deutsche Bank analysts said in a note. “Investors will be keenly watching whether Powell places more emphasis on weaker payrolls versus more stable measures of labour market slack and still solid activity and inflation data.”

10 Year Benchmark Technical View :

The 10 year Benchmark (6.33% GS 2035) yield likely to move in the range of 6.54% to 6.5550% level on Monday

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