Market downgrades have been dogging rating agency scrips. In the past year, the CARE Ratings Ltd stock tumbled 59%, while Icra Ltd and Crisil Ltd slid 29% each. Comparatively, the Nifty 500 index slipped only 11%. What lies ahead for these stocks

Lately, negative news has dominated the credit rating business, with the top management of two rating agencies asked to step down. Agencies may also need to separate their rating and non-rating businesses.

“While business momentum has been improving, the absence of top management in two large CRAs (credit rating agencies) and the reports of an unbiased rating for IL&FS are negative, in our view. The third CRA might have to comply with the regulations to separate rating and non-rating businesses, affecting stock performances," said Elara Securities (India) Pvt. Ltd in a note to clients.

To top it all, in the bread-and-butter rating segment, growth has slowed to a crawl. Crisil’s rating division grew 2% year-on-year due to a drop in bank-loan ratings and fewer corporate-bond issuances. Icra’s rating revenues dropped 8%, while CARE Ratings’ fell 21%.

Much of the tight liquidity conditions and sluggish issuances may continue to persist. For credit rating agencies, this poses significant challenges. “Bank credit contracted 1.3% in Q1 FY20 as headwinds blasting NBFCs since end-Q2 FY19 impacted the number of bank-loan ratings. The quarter also saw fewer bond issuances, both corporate and financial. Further, ICRA seems to have lost share in the corporate-bond market after a default by a client," said Edelweiss Securities Ltd in a note to clients.

Meanwhile, securitization, which was growing lately, too is slowing. A double whammy to the rating business comes from corporate bodies shying away from incurring significant capital expenditure. Rating revenues could continue to grow marginally.

Additionally, credit rating agencies have been hit by regulatory costs and higher operating expenses that will weigh on operating margins going ahead.

Ostensibly, much hinges on credit offtake reviving. Thankfully, contracting interest rates could spur credit offtake later. But until then, these stocks may take time to see the light at the end of the tunnel.

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The Indian civil aviation sector is showing signs of recovery months after the grounding of Jet Airways with domestic air passenger traffic demand grew 7.9 per cent in June, a global airline association said on Thursday

According to the International Air Transport Association (IATA), India's domestic air passenger volume -- measured in revenue passenger kilometres was the third-highest among the major aviation markets such as Australia, Brazil, China, Japan, Russia and the US.

India's domestic RPK in June rose by 7.9 per cent as compared to the corresponding month of the previous year.

In the period under consideration, India's domestic passenger traffic growth was preceded by that of China at 8.3 per cent and Russia at 10.3 per cent.

The country's domestic available passenger capacity measured in available seat kilometres stood higher by 3.1 per cent in June, followed by China at 8.9 per cent and Russia at 9.8 per cent.

"The domestic India market has proven resilient in the face of the demise of Jet Airways earlier in the year," IATA said in its global passenger traffic results for June 2019.

"Growth in domestic RPKs have recovered strongly, lifting to a 7.9 per cent year-on-year pace in June, as the remaining carriers moved quickly to fill the gap created by the loss of a competitor and to meet the customer demand," it added.

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Capital goods maker Thermax Ltd has proved it can be resilient during tough times in the economy. The firm’s execution skills were reflected in the strong revenue growth during the June quarter, though macroeconomic issues weighed on profitability and order flows

Net consolidated revenue of 1,392 crores zoomed past the 17-broker average forecast on Bloomberg by about 17%. It was 34% higher on a year-on-year (y-o-y) basis. Even the stand-alone revenue of 1,167.7 crores was up 37.5% y-o-y, for which analysts said the credit goes to the company’s better-than-expected execution.

Strong revenue and stringent cost-control in spite of higher raw material costs translated into 43.5% y-o-y growth in Ebitda (earnings before interest, tax, depreciation and amortization).

“The key takeaway was the consistency in execution trend, which led to revenue growth, giving some green shoots for the company to return back to the growth path," said analysts at ICICI Securities Ltd. This also explains why the stock rose 3.8% to 1,087.75 on the National Stock Exchange on Thursday.

Yet, there were pressures on operating cost due to the liquidity crunch and delays in projects from the customer’s end, at times. This, along with provisions made towards its Chinese subsidiary, in which operations were discontinued, weighed on profitability. Ebitda margin widened by 40 basis points to 7.1% but was lower than what the Street had pencilled.

That’s not all. Challenges are mounting in the economy, particularly for the capital goods sector. A few quarters ago, there was an increase in order flows that brought in optimism for this universe, especially for front-rung companies, such as Thermax, and well-managed global firms including Cummins India Ltd, Siemens Ltd and ABB India Ltd. However, the situation has turned grim since the general election, with core sector growth falling and weakness in almost all sectors of the economy.

For Thermax, consolidated order flows fell 26.3%, while the order book at the end of the June quarter was 18% lower from a year ago. M.S. Unnikrishnan, managing director and chief executive of Thermax, said: “Even after elections, we did not see many pick-ups in orders. With capacity utilization in most sectors below the optimal level, most companies are deferring capex plans. Even short-cycle orders are slow as most managements are cautious."

To be sure, Thermax’s resilience is the key reason for the stock’s outperformance compared with benchmark indices, such as the Nifty Midcap 100. However, analysts reckoned that the pain will continue for several quarters.

Given the inertia even in private sector capex, Thermax’s shares may be range-bound, as its price-to-earnings ratio of 28 times estimated FY21 earnings factors in all positives.

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Indian shares sank to a fresh five-month low, led by losses in metals and public sector bank stocks, following a global sell-off as investor fears were piqued by the escalating Sino-U.S. trade war in the broader Asian markets

The Chinese yuan broke below the psychological 7-per-dollar threshold after U.S. President Donald Trump abruptly decided on Thursday to slap 10% tariffs on the remaining $300 billion in Chinese imports. MSCI's broadest index of Asia-Pacific shares outside Japan fell 1.7%.

The rupee hit its weakest level since Mid-May at 70.49 rupees per dollar.

Domestic investor sentiment in equities, which seemed to be upbeat on Friday after reports said the government was looking into foreign portfolio investors' tax concerns, returned to being bearish due to the escalating trade war.

The broader Nifty was down 1.62% at 10,819.55 as of 0447 GMT, while the benchmark BSE Sensex was 1.55% lower at 36,537.09.

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Private sector thermal power producer Adani Power on Friday said that it has completed the acquisition of GMR Chhattisgarh Energy (GCEL)

According to the company, the acquisition of GCEL has concluded at an enterprise valuation of approximately Rs 3,530 crore.

GCEL owns and operates a 1,370 MW supercritical power plant at Raikheda village in Chhattisgarh's Raipur district.

GCEL presently supplies power to Gujarat under a short term, 1000 MW Case 4 PPA with the Gujarat Urja Vikas Nigam Ltd.

"The addition of 1,370 MW capacity, along with the recently concluded acquisition of the 600 MW Korba West Power Co. Ltd., solidifies APL's position as India's largest private-sector thermal power producer, with aggregate operating capacities of 12,450 MW," the company said in a statement.

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Shares of Apollo Tyres Ltd took off after its first-quarter (Q1) results were announced, despite the below-par numbers on most counts. As it turns out, the Street was enthused that the company could maintain revenue growth in an otherwise subdued auto market

Besides, the Apollo Tyres stock has been on a downturn, falling about 33% this year. That’s perhaps why it saw a pullback of about 5.2% in trading on Wednesday.

Revenue for June quarter saw subdued growth of about 0.5% year-on-year. Even compared to the preceding quarter, revenue growth inched up marginally by 2.2%. But that seemed to be good enough for the Street, which expected a sharp slump in the original equipment market to impact revenue growth.

As it turns out, the replacement market was the saving grace for the company. The management noted in a release that while demand from automakers remained subdued, there was growth in the replacement market.

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The loan book is expected to grow by 17 percent YoY with healthy all-round growth across the segment.

Axis Bank, India's fourth-largest private sector lender by market capitalisation, is expected to report healthy numbers for June quarter (Q1) on July 30. The earnings result will be closely watched by the Dalal Street especially after its closest peer ICICI Bank reported better-than-expected earnings on all fronts.

Most brokerages expect more than two-fold increase in its Q1FY20 profit on lower provisioning and stable operational income YoY. They also expect double-digit growth in NII and the loan book, compared to year-ago, with stable asset quality.

"Traction in advances is seen improving 15 percent YoY led by a focus on high yielding retail and MSME loans. A decline in G-Sec yield is expected to aid trading income leading to a positive impact on PAT. PAT is seen at Rs 1,725 crore on the back of stable operational performance and lower provisions," ICICI direct said.

The lender had reported a profit of Rs 701.1 crore in the corresponding quarter of the previous year and Rs 1,505.1 crore in Q4FY19.

According to Narnolia Securities, the loan book is expected to grow by 17 percent YoY with healthy all-round growth across the segment.

Earlier, the management said it expected the domestic loan book to grow 5-7 percent above the industry level while the international book is expected to stabilise in the next two quarters.

The retail segment is likely to be driven by home loan and unsecured loan book, Narnolia said, adding that the bank's strategy on retail assets continues to centre existing customer base. 83 percent of retail assets originations in Q4 were from existing customers.

On the asset quality front, ICICI direct said with no material exposure towards IL&FS, ADAG group, DHFL, etc. slippages are seen lower leading to lower credit cost of 46 bps, and asset quality is expected to largely remain stable with GNPA ratio at 5.2 percent.

The bank is also expected to report double-digit growth in non-interest income (other income), as well as in operating income, which will also boost profitability.

"Other income is expected to grow by 20 percent YoY driven by healthy fee income and treasury profit during the quarter. Corporate fee income is also expected to pick up going ahead," said Narnolia which expects pre-provision operating profit growth at 16 percent YoY.

Key issues to look out for include quantum of corporate slippages from BB and below list and any revision in the size of the stressed assets, outlook on the power assets and CASA performance.

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HSBC increased its price target for SpiceJet to Rs 115 from Rs 79.50 earlier.

SpiceJet shares fell nearly 3 per cent intraday on June 7 after global brokerage firm HSBC downgraded SpiceJet to reduce.

The stock was quoting Rs 144.65, down Rs 1.60, or 1.09 per cent on the BSE, at 1125 hours. However, it rallied 71 per cent in the last three months after Jet Airways suspended its operations and crude oil prices fell.

The brokerage maintained hold call on IndiGo operator InterGlobe Aviation which was trading at Rs 1,668.15, down Rs 2.70, or 0.16 percent.

HSBC said stocks are now trading at near all-time high valuation multiples. "Market is far too optimistic and ignoring risks and challenges."

However, the brokerage increased its price target for SpiceJet to Rs 115 from Rs 79.50 earlier and for InterGlobe Aviation to Rs 1,580 from Rs 1,100 apiece after an increase in earnings estimates.

"Consensus earnings forecasts for IndiGo increased by 136 percent and for SpiceJet by 56 percent," HSBC said, adding airfares have risen 12-15 percent over the past 4-5 months.

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The company has already launched this product in Denmark, Sweden and Norway.

Shares of Glenmark Pharma rose nearly 1 percent in the morning trade on Monday as company secured marketing authorization in Germany for its generic version of Seretide Accuhaler.

The company's subsidiary Glenmark Arzneimittel GmbH has secured marketing authorization in Germany for fluticasone/salmeterol dry powder inhaler (DPI), a generic version of GlaxoSmithKline’s Seretide Accuhaler.

Fluticasone/salmeterol DPI is a combination product for the treatment of asthma and chronic obstructive pulmonary disease (COPD).

Glenmark will sell the product in Germany under the name SALFLUTIN.

Achin Gupta, Executive Vice President & Business Head of Europe and Latin America, Glenmark Pharmaceuticals said, "Upon launch, generic

Fluticasone/Salmeterol DPI will be Glenmark’s first inhalation product available in Germany. There is huge potential for the product in Germany and we are optimistic that it will help enhance growth of the European business."

The company has already launched this product in Denmark, Sweden and Norway.

At 09:17 hrs Glenmark Pharma was quoting at Rs 690, up Rs 4.85, or 0.71 percent on the NSE.

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Partnership offers a disruptive approach to connected buildings to dramatically reduce costs and optimize experiences.

Shares of Mindtree gained nearly 3 percent intraday Friday as company formed a partnership with GHD Digital.

It has touched an intraday high of Rs 1,081 and an intraday low of Rs 1,051.10.

GHD Digital and Mindtree collaborating on a broad Digital platform targeted to the property and infrastructure sectors.

Partnership offers a disruptive approach to connected buildings to dramatically reduce costs and optimize experiences.

The partnership combines GHD Digital’s knowledge of building design and operation, with Mindtree’s extensive track record in cloud based, loT platforms and analytics, to deliver efficiencies for clients and communities and create previously untapped revenue opportunities through the collection of data.

The share touched its 52-week high Rs 1,102 and 52-week low Rs 439.20 on 17 August, 2018 and 12 September, 2017, respectively.

Currently, it is trading 2.08 percent below its 52-week high and 145.69 percent above its 52-week low.

At 12:04 hrs Mindtree was quoting at Rs 1,076, up Rs 25.65, or 2.44 percent on the BSE.

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The airline was granted a Rs 1,500 crore loan from Bank of Baroda last week, for which the government stood as the guarantor

The government is expected to provide Rs 980 crore of equity capital to Air India next week to help the beleaguered airline service a portion of its outstanding debt, according to a report by The Economic Times.

A major chunk of this funding -- around Rs 550 crore -- will be used to make interest payments on nonconvertible debentures (NCDs) that are due in September.

In order to repay bank loans, Air India had issued sovereign-backed NCDs worth Rs 7,400 crore a few years ago.

Apart from the interest payments, the airline will also have to pay for spare parts on planes that are currently incapacitated due to technical problems.

Also, vendors, both domestic and international, will have to be compensated for make the grounded aircraft airworthy.

Air India's turnaround plan, which was approved by the government in 2013, includes a total cash infusion of Rs 30,231 crore, spread out over a period of nine years.

Taking into account the latest installment, the government would have all but kept its fiduciary promise.

The debt-laden airline has so far received Rs 29,730 crore from the exchequer, roughly 98 percent of the capital promised as a part of the turnaround plan.

Inter-ministerial cooperation has been key in keeping the national carrier afloat thus far.

According to media reports, the Civil Aviation Ministry had written to the Finance Ministry on August 23, asking for an emergency payment of Rs 500 crore to avoid defaulting on interest payments.

The airline was granted a Rs 1,500 crore loan from Bank of Baroda last week, for which the government stood as the guarantor. The latest cash infusion is supplementary to this bank loan.

The disbursement of this sum was delayed by a fortnight as the approval of both houses of Parliament could not be solicited in time.

The Lok Sabha had cleared the expenditure but the government could not get the upper house's nod before the end of the Monsoon Session.

Air India has already exhausted the short-term loan obtained from Bank of Baroda, according to a report by The Economic Times.

Despite raising funds from multiple sources, the airline continues to be a cash burner, reliant on its umbilical relationship with the government to sustain itself.

On the other hand, the government has set its sights on making Air India commercially viable. It is now working on a plan to get nearly Rs 30,000 crore of the airline's outstanding debt written off.

It was decided that a part of the debt would be funded by selling off segments of the airline's operational base.

The move to restore Air India to good health is part of the government's larger plan to divest stake in the national carrier.

The aid package was mooted after the government tried auctioning 76 percent stake in Air India but did not find any takers for it.

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Gold prices inched up on Friday but remained on course to rack up their longest monthly losing streak since 2013, hit by worries over lingering U.S.-Sino trade tensions.

Spot gold was up 0.2 percent at $1,202.04 an ounce at 0321 GMT, after touching a near one-week low of $1,195.95 on Thursday. Prices are down 1.7 percent so far this month, on track for a fifth straight monthly decline.

U.S. gold futures were up 0.2 percent at $1,207.90 an ounce.

"As $1,200 is always a psychological level, there will be some battle to regain that ... It is going to be critical whether prices are going to close above or below that level today," said Brian Lan, managing director at dealer GoldSilver Central in Singapore.

Analysts and traders said gold would closely track moves in the dollar, in which the metal is priced, especially with investors bracing for the next round of the U.S.-China trade conflict.

Gold prices have declined about 7.7 percent so far this year amid international trade disputes and the Turkish currency crisis, with investors preferring the dollar as a safe-haven.

The dollar index against a basket of six major currencies stood little changed at 94.731 on Friday.

The greenback was boosted overnight by data that showed U.S. consumer spending increased in July.

"We think that the spate of the more consequential news headlines we are seeing of late will likely force another dollar rally and conceivably pressure gold prices lower," said INTL FCStone analyst Edward Meir.

"We would therefore favour the short-side for the time being, especially going into the long Labor Day weekend in the U.S."

Meanwhile, investors continued their liquidation of exchange traded funds, even after gold prices recovered from 1-1/2-year lows of $1,159.96 touched earlier this month.

Holdings of SPDR Gold Trust, the world's largest gold-backed exchange-traded fund, have seen continuous outflows since July 23 and are down over 9 percent so far this year.

"The ongoing outflows from ETFs, record high speculative shorts and upbeat U.S. economic data are still the major headwinds for gold and signify the recovery might be short lived," said Religare Securities analyst Sugandha Sachdeva.

Spot gold may drop to $1,185 per ounce as it had broken support at $1,200, according to Reuters technical analyst Wang Tao.

Spot silver was down 0.1 percent at $14.52 an ounce.

Palladium was up 0.5 percent at $970.25 an ounce, after touching a 10-week high at $983.75. Platinum rose 0.4 percent to $791.90 an ounce.

Palladium's premium over platinum hit about $185 per ounce on Thursday, the highest since March 2001.

(Reporting by Nallur Sethuraman in Bengaluru; Editing by Vyas Mohan and Joseph Radford)

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Oil markets held steady on Friday, supported by looming U.S. sanctions against Iran's oil exports and falling Venezuelan output, but held back by concerns the trade war between the United States and China could intensify.

International Brent crude oil futures were at $77.77 per barrel at 0505 GMT, unchanged from their last close.

U.S. West Texas Intermediate (WTI) crude futures were up 7 cents at $70.32 a barrel.

With Venezuelan supply falling sharply and concerns around U.S. sanctions against Iran that will target its oil exports from November, crude markets in August are on track to post a more than 4.5 percent rise for Brent and an over 2 percent increase for WTI.

"The November deadline to comply with the U.S. demands for an Iran oil embargo is moving closer, and in anticipation, buyers seemingly have begun reducing their purchases," said Norbert Ruecker, head of commodity research at Swiss bank Julius Baer.

"Meanwhile, the situation in Venezuela remains equally concerning," he added.

In a sign of a tightening market, the amount of unsold crude stored in the Atlantic basin has dwindled from around 30 cargoes to just a handful in recent weeks, trade data showed.

Despite this, analysts cautioned that the trade disputes between the United States and other major economies, especially China and the European Union, could start to drag on economic growth and, by extension, fuel demand.

"You have to wonder if it (crude) can sustain these prices in a world where President Trump doubles down on his battle with the EU and China at the same time," said Greg McKenna, chief market strategist at futures brokerage AxiTrader.

U.S. President Donald Trump is reportedly planning to ramp up trade conflict with China and has told aides he is ready to impose tariffs on $200 billion more in Chinese imports as soon as a public comment period on the plan ends next week, several media reported on Thursday.

"Assuming the trade war is about to escalate again, the questions traders will be wondering about is global growth (and) demand for crude," McKenna said.

SHANGHAI DELIVERY

Meanwhile, China's Shanghai crude oil futures, launched in March, will see delivery of their first contract on Friday.

The speed of Shanghai crude's take-up has surprised many traders and analysts.

Among the three major crude benchmarks - WTI, Brent and Shanghai - China's front-month crude futures now make up a share of almost 15 percent in terms of monthly volumes.

Traders said Shanghai's fast rise reflects China's importance as the world's biggest oil importer. It is also part of a policy by Beijing to increasingly use the yuan currency in global trade, especially during times of economic disputes with the United States.

Since its launch in March, front-month Shanghai crude oil futures have gained almost 10 percent in value to 481 yuan ($70.31) per barrel.

($1 = 6.8415 Chinese yuan renminbi)

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Rajesh Agarwal of AUM Capital recommends buying J Kumar Infraprojects with stop loss at Rs 264 and target of Rs 280, Power Grid Corp with stop loss at Rs 192 and target of Rs 200 and ITC with stop loss at Rs 313 and target of Rs 329.

The Nifty50 continued to be rangebound for the second consecutive session and closed the August expiry day on a flat note with a negative bias on Thursday.

The index opened flat and remained weak throughout the session, forming small bearish candle, which resembles like a 'Hammer' kind of pattern on the daily candlestick charts.

The market recovered from intraday low in the late trade but that does not change the short term outlook, experts said, adding the index is expected to be weak and remained in a consolidation mode.

The Nifty Midcap index continued to outperform frontline indices, rising 0.13 percent while the sectoral trend remained mixed with Nifty Bank, Auto and Financial Service falling around half a percent each. FMCG and Pharma indices gained over a percent each.

The Nifty50 opened below 11,700-mark at 11,694.75, tad higher over previous day's close of 11,691.90. In early trade itself, it touched an intraday high of 11,698.80 but immediately turned lower to hit an intraday low of 11,639.70 (down 52 points) in the last hour of trade. It managed to recoup some losses in the late trade and closed 15.10 points lower at 11,676.80.

According to Pivot charts, the key support level is placed at 11,644.73, followed by 11,612.67. If the index starts moving upwards, key resistance levels to watch out are 11,703.83 and 11,730.87.

The Nifty Bank index closed at 28,103.25, down 120.85 points on Thursday. The important Pivot level, which will act as crucial support for the index, is placed at 27,965.44, followed by 27,827.67. On the upside, key resistance levels are placed at 28,237.34, followed by 28,371.47.

Here are the top stock trading ideas which can give good returns in the near term:

Aditya Agarwal of Way2Wealth Brokers

Buy Sun Pharma around Rs 635 - 630 for target of Rs 690-725 and stop loss at Rs 600

Buy PTC India Financial Services at Rs 18.80-19.00 for target at Rs 24 and stop loss at Rs 17

Sell Tata Elxsi below Rs 1388 for target at Rs 1320 - 1275 and stop loss at Rs 1440

Rajesh Agarwal of AUM Capital

Buy J Kumar Infraprojects with stop loss at Rs 264 and target of Rs 280

Buy Power Grid Corp with stop loss at Rs 192 and target of Rs 200

Buy ITC with stop loss at Rs 313 and target of Rs 329

Buy Wockhardt with stop loss at Rs 655 and target of Rs 680

Buy Mahanagar Gas with stop loss at Rs 839 and target of Rs 862Disclaimer: The views and investment tips expressed by investment experts on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

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कारोबारी हफ्ते के आखरी दिन शुक्रवार को नकारात्मक वैश्विक रुझानों के बावजूद बाजार में मजबूत शुरुआत हुई है।

मगर डॉलर के मुकाबले रुपया 71 का आँकड़ा पार कर के सर्वकालिक निचले स्तर पर फिसल गया है। जानकारों का मानना है कि डॉलर की घरेलू माँग के अलावा एशियाई मुद्राएँ रुपये पर दबाव डाल रही हैं।

बीएसई सेंसेक्स (Sensex) 38,690.10 के पिछले बंद स्तर की तुलना में 38,704.84 पर खुला। 9.35 बजे के करीब सेंसेक्स 120.96 अंक या 0.31% की बढ़त के साथ 38,811.06 पर है। वहीं एनएसई का निफ्टी (Nifty) 11,676.80 के पिछले बंद स्तर के मुकाबले 11,675.85 पर खुल कर 42.75 अंक या 0.37% की मजबूती के साथ 11,719.55 पर चल रहा है।

उधर आज छोटे-मॅंझोले बाजारों में भी बढ़त दिख रही है। बीएसई मिडकैप में 0.61% और बीएसई स्मॉलकैप में 0.48% की बढ़ोतरी है। जबकि निफ्टी मिड 100 में 0.57% और निफ्टी स्मॉल 100 में 0.42% की मजबूती है। इस समय निफ्टी के 50 में से 43 और सेंसेक्स के प्रमुख 31 शेयरों में से 7 मजबूत स्थिति में है। 

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खबरों के कारण जो शेयर आज नजर में रहेंगे उनमें एमसीएक्स, डीएलएफ, डीएचएफएल, आईसीआईसीआई सिक्योरिटीज और दिलीप बिल्डकॉन शामिल हैं।

जेबीएफ इंडस्ट्रीज - कैपरी ग्लोबल एडवाइजरी ने कंपनी के 5 लाख शेयर बेचे।

डीएलएफ - राजधानी इन्वेस्टमेंट्स ऐंड एजेंसीज ने डीएलएफ के 1.62 करोड़ शेयर खरीदे हैं।

वोकहार्ट - कंपनी को 1,200 करोड़ रुपये जुटाने के लिए शेयरधारकों की मंजूरी मिली।

ओरिएंटल बैंक ऑफ कॉमर्स - बोर्ड ने 1,000 करोड़ रुपये जुटाने की मंजूरी दी।

हैथवे केबल - कंपनी ने प्रमोटर ग्रुप कंपनी से 100 करोड़ रुपये जुटाये।

डीएचएफएल - कंपनी डिबेंचर जारी करके 2,000 करोड़ रुपये जुटायेगी।

एलऐंडटी इन्फोटेक - पूर्णकालिक निदेशक आफताब जैदुल्लाह ने तत्काल प्रभाव से इस्तीफा दिया।

आईसीआईसीआई सिक्योरिटीज - चंदा कोचर कंपनी को बोर्ड में फिर से नियुक्त।

इलाहाबाद बैंक - बैंक ने एमसीएलआर में 5 आधार अंकों की बढ़ोतरी की।

दिलीप बिल्डकॉन - इकाई को 1,698 करोड़ रुपये का ठेका मिला।

पीएनसी इन्फ्राटेक - कंपीन को 1,999.52 करोड़ रुपये का सड़क परियोजना कार्य मिला।

एमसीएक्स - सहायक कंपनी मल्टी कमोडिटी एक्सचेंज क्लियरिंग कॉर्पोरेशन 3 सितंबर से कारोबार शुरू करेगी।

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Maximum put open interest of 35.49 lakh contracts was seen at the 11,000 strike price. This will act as a crucial support level for September series.

The Nifty50 continued to be rangebound for the second consecutive session and closed the August expiry day on a flat note with a negative bias on Thursday. The index opened flat and remained weak throughout the session, forming small bearish candle, which resembles like a 'Hammer' kind of pattern on the daily candlestick charts.

The market recovered from intraday low in the late trade but that does not change the short term outlook, experts said, adding the index is expected to be weak and remained in a consolidation mode.

The Nifty Midcap index continued to outperform frontline indices, rising 0.13 percent while the sectoral trend remained mixed with Nifty Bank, Auto and Financial Service falling around half a percent each. FMCG and Pharma indices gained over a percent each.

The Nifty50 opened below 11,700-mark at 11,694.75, tad higher over previous day's close of 11,691.90. In early trade itself, it touched an intraday high of 11,698.80 but immediately turned lower to hit an intraday low of 11,639.70 (down 52 points) in the last hour of trade. It managed to recoup some losses in the late trade and closed 15.10 points lower at 11,676.80.

"Nifty50 signed off the expiry session with a Hammer kind of formation as it recouped major part of the intraday losses after taking support around the demand line of its 43-day old ascending channel," Mazhar Mohammad, Chief Strategist – Technical Research & Trading Advisory, Chartviewindia.in told Moneycontrol.

He said at this point in time, despite this intraday recovery, weakness is getting more pronounced on short term charts as clear cut sell signals are generated on multiple technical parameters.

Hence in next session if the said index closes below 11,615 levels then short term trend reversal will get confirmed which should intensify the selling pressure further besides confirming short term top around 11,760 levels, he added. "In such a scenario market should initially aim at a downside target placed around 11,480 levels.

On the upsides, he said unless recent swing high of 11,760 is cleared momentum in the broader markets shall not gain traction. "Traders will be better off by maintaining neutral stance till some initial signs of strength are visible."

India VIX fell by 0.48 percent to 12.37.

We have collated the top 15 data points to help you spot profitable trades:

Key support and resistance level for Nifty

The Nifty closed at 11,676.80 on Thursday. According to Pivot charts, the key support level is placed at 11,644.73, followed by 11,612.67. If the index starts moving upwards, key resistance levels to watch out are 11,703.83 and 11,730.87.

Nifty Bank

The Nifty Bank index closed at 28,103.25, down 120.85 points on Thursday. The important Pivot level, which will act as crucial support for the index, is placed at 27,965.44, followed by 27,827.67. On the upside, key resistance levels are placed at 28,237.34, followed by 28,371.47.

Call Options Data

Maximum call open interest (OI) of 44.14 lakh contracts was seen at the 11,800 strike price. This will act as a crucial resistance level for September series.

This was followed by the 11,700 strike price, which now holds 35.35 lakh contracts in open interest, and 12,000, which has accumulated 16.94 lakh contracts in open interest.

Call writing was seen at the strike price of 11,800, which added 12.32 lakh contracts, followed by 11,700 which added 12.14 lakh contracts.

Highest Call unwinding was seen at the strike price of 11,500, which shed 5.03 lakh contracts, followed by 11,600, which shed 4.76 lakh contracts and 11,400 which shed 3.45 lakh contracts.

Put Options data

Maximum put open interest of 35.49 lakh contracts was seen at the 11,000 strike price. This will act as a crucial support level for September series.

This was followed by the 11,600 strike price, which now holds 31.16 lakh contracts in open interest, and the 11,500 strike price, which has now accumulated 28.95 lakh contracts in open interest.

Put writing was seen at the strike price of 11,600, which added 3.18 lakh contracts in open interest, followed by 11,000 which added 0.47 lakh contracts.

Highest Put unwinding was seen at the strike price of 11,700, which shed 18.34 lakh contracts, followed by 11,800 which shed 3.55 lakh contracts and 11,300 which shed 2.95 lakh contracts.

Stocks with high delivery percentage:

High delivery percentage suggests that investors are accepting delivery of the stock, which means that investors are bullish on it.

Bulk Deals

DLF: Rajdhani Investments & Agencies bought 1,62,00,000 shares of the company at Rs 217 per share while Kavita Singh sold 92,00,000 shares of the company at Rs 217 per share.

JBF Industries: Capri Global Advisory Services sold 5,00,000 shares of the company at Rs 44.95 per share.

Harrisons Malayalam: Manjula Venkatakrishnamohan Prabhala bought 1,00,000 shares of the company at Rs 102.72 per share.

(For more bulk deals, click here)

Analyst or Board Meet/Briefings

Mahindra & Mahindra: Company's officials are meeting analysts/investors on September 3 and 4 in Nashik and Mumbai respectively.

Voltas: Company's officials are meeting Kora Management and Blackrock Advisors Inc, Hong Kong on August 31.

Steel Exchange India: Annual General Meeting to be held on September 28.

Shyam Telecom: Annual General Meeting to be held on September 24.

Fiberweb India: Annual General Meeting to be held on September 25.

Nova Iron & Steel: Annual General Meeting to be held on September 27.

Ucal Fuel Systems: 32nd Annual General Meeting of the company will be held on September 29.

JK Tyre & Industries: Company's officials are meeting JM Financial on August 31 in Chennai.

Shriram Transport Finance: Company's officials are meeting analysts/investors on September 3, 5, 6 and 7, 2018.

Kennametal India: A meeting with Investor / Analyst from SBI Mutual Fund, is scheduled to be held on August 31 to discuss the published financials of the company.

Glaxosmithkline Pharma: Company's officials are meeting Karvy Stock Broking on August 31.

Entertainment Network India: 19th Annual General Meeting of the company will be held on September 26.

Adani Green and Energy: Company's officials are meeting with various analysts on August 31.

Mahanagar Gas: Company's officials are meeting Citigroup- First State Asia Stewart Asia on August 361 and Credit Suisse on September 6 in Mumbai.

Thyrocare Technologies: Sunil Asnani, Portfolio Manager, of Matthews International Capital Management, would be having a meeting with one or more of the following, viz. Anand Velumani, Dr Caesar Sengupta, Vice President-Operations, Sachin Salvi, General Manager-Finance, and Vatsal Goyal, Head-Strategy and Corporate Development on September 10.

Religare Enterprises: The meeting of the board of directors of the company is scheduled on September 6 to consider financial results for quarter ended June 30, 2018.

Stocks in news

GAIL: Indian Railways and GAIL (India) took a significant step towards expanding usage of environment-friendly fuel, natural gas across all applications of the Indian Railways by signing a Memorandum of Understanding (MoU).

Mindtree: GHD Digital and Mindtree collaborating on a broad Digital platform targeted to the property and infrastructure sectors. Partnership offers a disruptive approach to connected buildings to dramatically reduce costs and optimize experiences.

Mahindra Logistics: Board members approved further investment in Lords by way of an additional purchase of 2,39,220 equity shares of Lords (representing 10.12 percent of equity share capital of Lords) from the existing Shareholders of Lords.

Muthoot Finance: The meeting of the Board of Directors which is scheduled to be held on September 4 will consider fund raising by way of issue of Redeemable Non-Convertible Debentures (NCD) upto Rs 5,000 crore (including unissued portion from previous approval of Rs 2,000 crore) through Private Placement in one or more tranches.

Wipro: Wipro joins BiTA to Drive Blockchain adoption in the transportation industry.

Kesoram Industries: P Radhakrishnan will take over as Chief Financial Officer effective commencement of business August 31.

MCX: Multi Commodity Exchange Clearing Corporation (MCXCCL), a wholly owned subsidiary of MCX will commence operations from September 3.

Hubtown: Soard has decided to withdraw the proposed preferential issue.

LKP Finance: Company has received Reserve Bank of India approval for proposed sale of up to 62 percent equity shareholding to Dakshin Mercantile Private Limited, an Essel Group company and change in its management structure.

PNC Infratech: Company has received Letter of Award (LOA) from Maharashtra State Road Development Corporation for the 54.4 km long 4th Package of Nagpur-Mumbai Six Lane Super Communication Expressway (Maharashtra Samruddhi Mahamarg) on EPC basis for a negotiated contract quoted price of Rs 1,999.52 crore.

Dilip Buildcon: DBL has received Letter of Acceptance (LOA) for a new EPC Project valued at Rs 1,698 crore by the Maharashtra State Road Development Corporation.

Fortis Healthcare: Gagandeep Singh Bedi resigned as CFO w.e.f. September 30 due to personal reason.

JSW Energy: JSW Energy revises offer for Prayagraj Power to over Rs 6,000 crore to outbid Tata Power - CNBC-TV18 Sources.

ICICI Securities: Chanda Kochhar reappointed on the board of the company as ICICI Bank voted in favour of Kochhar’s reappointment at company - CNBC-TV18 Sources.

Jet Airways: Govt official says after preliminary scrutiny, ROC orders a formal inspection of company - CNBC-TV18 sources

Jet Airways: Company told CNBC-TV18 that it received communication from the office of ROC seeking response to a complaint. Company is taking necessary steps to submit its response in this regard.

Idea Cellular: NCLT approves Idea-Vodafone merger - CNBC-TV18 Sources.

No stocks under ban period on NSE

Securities in ban period for the next day's trade under the F&O segment include companies in which the security has crossed 95 percent of the market-wide position limit.

For August 31, DHFL, not a single stock is present in this list.

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व्यापार विवाद के कारण बेस मेटल की कीमतों में नरमी रहने की संभावना है।

तांबें को 425 रुपये के नजदीक अड़चन के साथ इसकी कीमतों में 414 रुपये तक गिरावट हो सकती है। हाल ही में भारी गिरावट के बाद तांबें की कीमतों में रिकवरी हुई है, लेकिन व्यापार विवाद के कारण चीन की ओर से औद्योगिक धातुओं की माँग में कमी की आशंका से कीमतों की बढ़त पर रोक बरकरार रहने की संभावना है। सरकारी कंपनी कोडेल्को की एंडिना तांबा खदान के हड़ताली श्रमिकों ने नये अनुबंध प्रस्ताव को खारिज कर दिया है।

जिंक की कीमतों को 176 रुपये के नजदीक सहारा और 180 रुपये के स्तर पर रुकावट रह सकती है। निकल की कीमतों को 935 रुपये के नजदीक सहारा और 955 रुपये के स्तर पर प्रतिरोध रह सकता है। वहीं लेड की कीमतों को 144 रुपये के नजदीक सहारा और 148 रुपये के करीब बाधा रह सकती है।

इसके अलावा एल्युमीनियम की कीमतों के सीमित दायरे में रहने की संभावना है और कीमतों को 148 रुपये के नजदीक सहारा तथा 152 के नजदीक अड़चन रह सकती है। अमेरिका द्वारा अर्जेटिना से एल्युमीनियम आयात को राहत देने के बाद आज लंदन में एल्युमीनियम की कीमतों में छह दिनों के बाद पहली बार गिरावट हुई है। ट्रंप ने मार्च में ही अर्जेटिना से स्टील के साथ ही एल्युमीनियम पर टैरिफ लगा दिया था।

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Spot gold was down 0.2 percent at $1,203.86 an ounce at 0329 GMT, after rising nearly 0.5 percent in the previous session.US gold futures were down 0.1 percent at $1,209.90 an ounce.

Gold prices inched lower on Thursday amid expectations of higher US interest rates, but managed to hold above a key psychological level of $1,200 which acted as a strong support.

Spot gold was down 0.2 percent at $1,203.86 an ounce at 0329 GMT, after rising nearly 0.5 percent in the previous session.US gold futures were down 0.1 percent at $1,209.90 an ounce.

Spot gold has been trading in an $8 range for the past two sessions, with investors keenly watching the $1,200 level after the metal broke below that and hit a 1-1/2-year low of $1,159.96 early this month.

"There is certainly some ambiguity following last week's Jackson Hole symposium where (Federal Reserve Chair Jerome) Powell was a little bit dovish in investors' point of view," ANZ analyst Daniel Hynes said.

"Investors are grappling amid positive data coming through (from the United States) and that's why prices are stuck just above $1,200 at the moment without any sort of clear outlook, especially around the rates for 2019."

Data showing a higher-than-expected annualised growth in second-quarter US gross domestic product cemented expectations for a rate hike next month, with a 96 percent probability, according to Fed funds futures.

Higher rates dent the appeal of non-interest-yielding gold, boosting the dollar in which the yellow metal is priced.

The dollar index against a basket of six major currencies stayed above a four-week low of 94.434 hit on Tuesday.

The greenback has been on the defensive this week with safe-haven demand for the currency diminishing in the wake of improving risk sentiment in broader markets following promising NAFTA negotiations.

Bullion investors' focus would now shift to the trade negotiations between the United States and China and the consequences, Hynes said.

Gold prices are heading for a fifth straight monthly fall, which would make it the precious metal's longest losing streak since early 2013. The metal has declined about 7.4 percent so far this year amid international trade disputes and the Turkish currency crisis, with investors preferring the dollar as a safe haven.

"While a (relatively) stronger dollar and US economic growth are hurting the bullion's appeal, concerns that Turkey's financial crisis could spread may give the metal a reversal of fate," said Renisha Chainani, head of commodity and currency research at Monarch Networth Capital.

"Gold's short-cover risks are elevated. The setup, with prices near key support (at $1,200) and record-short net positions, is a recipe for a sharp rally."

Spot silver was down 0.2 percent at $14.69.Platinum was down 1 percent at $792.90, while palladium was down 0.8 percent at $957 after hitting its highest since July 9 at $967 on Wednesday.

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US West Texas Intermediate (WTI) crude futures were up 14 cents at $69.65 a barrel.The rises came after crude hit multi-week highs during the previous session.

Oil prices inched up on Thursday, extending solid gains from the previous session on a fall in US crude inventories and expected disruptions to supply from Iran and Venezuela.

International Brent crude oil futures were at $77.21 per barrel at 0114 GMT, up 7 cents from their last close.

US West Texas Intermediate (WTI) crude futures were up 14 cents at $69.65 a barrel. The rises came after crude hit multi-week highs during the previous session.

US commercial crude inventories fell by 2.6 million barrels in the week to Aug. 24, to 405.79 million barrels. US production was flat from the previous week's record 11 million barrels per day (bpd).

"Oil prices rose on the back of an unexpected US inventory draw, the second week in a row of declines, together with gasoline demand reaching a record high," said William O'Loughlin, investment analyst at Australia's Rivkin Securities.

"The looming sanctions against Iran are beginning to impact oil supply lifting crude prices," added Alfonso Esparza, analyst at futures brokerage OANDA.

The Organization of the Petroleum Exporting Countries (OPEC), of which Iran is the third biggest producer, will discuss in December whether it can compensate for a sudden drop in Iranian oil supply after US sanctions against Tehran start in November, the head of Iraq's state-oil marketer SOMO, Alaa al-Yasiri, said on Wednesday.

Iran's August crude oil exports will likely drop to just over 2 million bpd, versus a peak of 3.1 million bpd in April, as importers bow to American pressure to cut orders.

The International Energy Agency (IEA) warned of a tightening market towards the end of the year, due to a combination of supply concerns, such as Iran and also Venezuela, and strong demand especially in Asia.

"Definitely there are some worries that oil markets can tighten towards the end of this year," the IEA's chief Fatih Birol told Reuters on Wednesday.

Crude oil exports in crisis-struck OPEC-member Venezuela have halved in recent years to only around 1 million bpd.

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