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Stock Market Today, September 8, 2022: What to Know Before the Market Opens on September 9, 2022

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Stock market today, September 8, 2022: Indian stock markets were upbeat at the end of the week. On Thursday, the BSE Sensex closed at 59,688.22, up 659.31 points or 1.12% from Wednesday’s closing price, while the 50-share Nifty50 index settled at 17,798.75, up 174 points or 1% from last close.

In the 30-share BSE Sensex, 25 stocks rose at the close. The other 5 lost. Meanwhile, in the 50-stock Nifty50, 33 advanced, 16 declined, and 1 remained unchanged.

The Nifty Bank closed at 40208.95, up 1.9 percent or 733 points. Out of 15 industry indices at the time of closing of the exchange, 10 finished positive, 5 – in the negative. The broader markets also witnessed significant activity, with mid-cap and small-cap stocks trading in the positive throughout the trading session.

The stock market today, September 8, 2022: What to watch for when markets reopen on Friday:

1) Activities of FII/DII: Foreign institutional investors were net buyers on Thursday and bought Indian stocks worth Rs 2,913.09 cr. Meanwhile, domestic institutional investors (DIIs) sold shares worth Rs 212.61 crore, according to data available on the NSE website.

2) India’s auto retail sales up 8.31% in August: FADA

Retail sales of automobiles in India grew by 8.31% in August this year on the back of an increase in vehicle registrations across all major segments, automobile dealers’ body FADA said on Thursday.

According to data released by the Federation of Automobile Dealers Associations (FADA), total retail sales of automobiles in the country last month stood at 15,21,490 units compared to 14,04,704 units in August 2021.

Retail sales of passenger vehicles (PV) stood at 2,74,448 units as against 2,57,672 units last month, an increase of 6.51 percent.

Retail sales of two-wheelers (2W) also grew by 8.52 percent to 10,74,266 units in August 2022 as against 9,89,969 units in the same month last year, the report added.

FADA said the three-wheeler (3W) segment witnessed the highest growth rate last month, increasing by 83.14 percent to 56,313 units compared to 30,748 units in the same month a year ago.

Commercial vehicles (CVs) also increased by 24.12 percent to 67,158 units compared to 54,107 units last month. PTI

3) Bulk deals:

Source: NSE

4) DeltaCorp will suspend trading on Friday, September 9th

5) Gross open interest:

Source: Stock Edge:

6) Rupee vs Dollar: Rupee gains 26 paise to close at 1-week high against US dollar on currency inflows

The rupee gained 26 paise to close at a one-week high of 79.69 per US dollar on Thursday amid lower crude oil prices and a steady trend in domestic equities.

The inflow of foreign funds and the depreciation of the US dollar also contributed to the growth of the national currency.

On the interbank foreign exchange market, the local unit opened at 79.72 per dollar. During the session, it witnessed an intraday high of 79.65 and a low of 79.83.

It finally ended at 79.69, up 26 paise from its previous close of 79.95.

“Indian rupee continues to outperform, supported by lower oil prices and FPI inflows. RBI continues to be an aggressive seller around 80,” said Anindya Banerjee, vice-president, currency and interest rate derivatives at Kotak Securities Ltd.

The global backdrop is helping the US dollar to strengthen, but this will play a role in limiting the rupee’s gains, rather than pushing it below 80 against the US dollar, Banerjee said.

“Therefore, we may see more range-bound prices and lower volatility in the near term,” Banerjee said.

7) The European Central Bank is making its biggest interest rate hike in history to quell record inflation

8) MCX October gold futures were trading at Rs 50,285 per 10 gram around 10 pm, down 221 points or 0.44 percent from Wednesday’s close. Meanwhile, December silver futures were trading at Rs 54,095, up by Rs 68 or 0.13 percent.

9) Capitalization of BSE-listed companies hits all-time high of Rs 282.66 lakh

The market capitalization of BSE-listed companies touched an all-time high of Rs 282.66 lakh on Thursday, helped by a recovery in equities.

The 30-share BSE Sensex rose 659.31 points, or 1.12 percent, to 59,688.22 after falling in the previous two trading days.

The rebound in stocks helped the market capitalization of BSE-listed companies jump to Rs 2,82,66,696.92. Investor wealth also rose by Rs 1.79 lakh crore on Thursday.
“Dalal Street was the main bouncer of the day as stocks just rallied in today’s session. The rally can be credited to positive signals from Wall Street overnight, as well as the fact that crude oil prices continued to fall. Crude oil prices are trading at their lowest levels since February,” Prashant Tapse, analyst, senior vice president (research) at Mehta Equities Ltd.

Tech Mahindra, Axis Bank, ICICI Bank, Mahindra & Mahindra, Bharti Airtel, State Bank of India, UltraTech Cement, Bajaj Finserv, IndusInd Bank and Asian Paints were the top gainers among the Sensex stocks. Tata Steel, Titan, NTPC, Nestle and Power Grid lagged behind. PTI

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