Investors will look at India’s GDP data released late evening for further direction. "After, poor US Q2 GDP data, investors would keep an eye on nonfarm payroll numbers. We expect the market to remain sideways on the back of mixed cues from global as well as domestic markets," said Siddhartha Khemka, Head - Retail Research, Motilal Oswal Financial Services Ltd.
“Participants should continue with the stock-specific approach until we see a decisive sign of reversal in the index. Besides, keep a close watch on the global front for further cues,” said Ajit Mishra, SVP - Technical Research. Adani Enterprises, APL Apollo Tubes, Tata Motors, Ashok Leyland, Titagarh Rail Systems among stocks to watch on Friday.
Shares of APL Apollo Tubes will trade ex-dividend on Friday, (September 1). The company has announced a dividend of Rs 5 per equity share.
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Shares of Vinati Organics will trade ex-dividend on Friday, (September 1). The company has announced a dividend of Rs 7 per equity share.
Shares of Metro Brands, Gujarat State Petronet, NBCC, Sansera Engineering, Shipping Corporation of India, Triveni Engineering, Ujjivan Financial Services, Syrma SGS Technologies will trade ex-dividend on Friday, (September 1).
Automakers Tata Motors and Mahindra and Mahindra (M&M) have received domestic value certificates, a metric key to qualifying for payouts under the nation's production-linked incentive scheme.
Ashok Leyland on Thursday said it has partnered with CSB Bank Ltd for offering vehicle financing solutions to its customers. The two companies have signed a Memorandum of Understanding and the partnership will enable them to offer customised financial solutions to the automaker's customers, Ashok Leyland said in a statement.
Titagarh Rail Systems Ltd (TRL) has received a letter of acceptance for a Rs 350-crore contract from Gujarat Metro Rail Corporation (GMRC) for the design, manufacture, supply, testing, commissioning and training of 30 standard gauge cars. The standard gauge cars are for Ahmedabad Metro Rail Phase-II project.
US-based short-seller Hindenburg Research reacted to the fresh claims by George Soros-backed Organized Crime and Corruption Reporting Project (OCCRP) against the Adani Group. In a post on X (Twitter), Hindenburg Research wrote, “Finally, the loop is closed. The Financial Times and OCCRP report that offshore funds owning at least 13% of the free float in multiple Adani stocks were secretly controlled by associates of Vinod Adani, masking the relationship with 2 sets of books.”
"The underlying trend of Nifty remains choppy with weak bias. There is a possibility of weakness below 19,200 levels in the coming sessions. The strong support is placed around 19,000-18,900 levels, where one may expect a sizable upside bounce from the lows," said Nagaraj Shetti, Technical Research Analyst, HDFC Securities.
“Bank Nifty has also witnessed follow-through selling pressure and has closed in the negative for the second consecutive day. The daily and the hourly momentum indicators are providing a divergent signal and hence a consolidation is likely. Daily Bollinger bands are also contracting indicating that there could be some consolidation in the near term. The range of consolidation is likely to be 43,600 – 44,700," said Jatin Gedia – Technical Research Analyst at Sharekhan by BNP Paribas.
Recommendations, suggestions, views, and opinions given by the experts are their own. These do not represent the views of Business Today. Investors should consult their financial advisors before taking any position.