Stock Market Today 8 September 2022: Things to Know Before Market Opens on 9th September 2022

Stock Market Today 8 September 2022: Indian stock markets were upbeat on the weekly expiry day. On Thursday, the BSE Sensex closed at 59,688.22, up by 659.31 points or 1.12 per cent from the Wednesday closing price, while the 50-share Nifty50 index settled at 17798.75, up 174 by points or 1 per cent from the last closing. 

In the 30-share BSE Sensex, 25 stocks were gainers at the closing time. The remaining 5 were losers. Meanwhile, in the 50-share Nifty50, 33 advanced, 16 declined, 1 remained unchanged. 

Nifty Bank closed at 40208.95 and was up 1.9 per cent or 733 points. Out of the 15 sectoral indices, 10 ended positively while 5 were in red at the closing time. The broader markets also witnessed significant action with mid cap and small cap stocks trading in the green for the entire trading session.

Stock Market Today 8 September 2022: What to Watch out for when markets reopen on Friday:

1) FII/DII Activity: The Foreign Institutional Investors were net buyers on Thursday and bought Indian equties worth Rs 2913.09 cr. Meanwhile, the Domestic Institutional Investors (DIIs) sold stocks worth Rs 212.61 cr as per the data available on the NSE website. 

2) Automobile retail sales in India rise 8.31% in August: FADA

Retail sales of automobiles in India grew 8.31 per cent in August this year on the back of increase in registrations of vehicles across all major segments, automobile dealers' body FADA said on Thursday.

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

Passenger vehicles (PV) retail sales stood at 2,74,448 units as compared to 2,57,672 units in the year-ago month, a growth of 6.51 per cent.

Two-wheeler (2W) retail sales also grew by 8.52 per cent at 10,74,266 units in August 2022 as against 9,89,969 units in the same month last year, it added.

FADA said the three-wheeler (3W) segment witnessed the highest growth rate last month posting 83.14 per cent increase at 56,313 units, up from 30,748 units in the same month a year ago.

Commercial vehicles (CV) also witnessed a robust 24.12 per cent growth at 67,158 units as against 54,107 units in the year-ago month. PTI

3) Bulk Deals:

 Source: NSE

4) Security ban for trade on 9 September, Friday is DeltaCorp

5) Gross Open Interest:

Source: Stock Edge:

6) Rupee Vs Dollar: Rupee rises by 26 paise to close at 1-week high against US dollar on forex inflows

The rupee rose by 26 paise to close at a week's high of 79.69 against the US dollar on Thursday amid easing crude oil prices and a firm trend in domestic equities.

Foreign fund inflows and the US dollar edging lower also boosted the local currency.

At the interbank forex market, the local unit opened at 79.72 against the greenback. It witnessed an intra-day high of 79.65 and a low of 79.83 during the session.

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

"Indian Rupee continues to be an outperformer, aided by lower oil prices and FPI inflows. RBI remains an aggressive seller near 80 handle," said Anindya Banerjee, VP, Currency Derivatives & Interest Rate Derivatives at Kotak Securities Ltd.

Global backdrop is conducive for USD strength but that would play out by way of limiting the gains in rupee, rather than pushing it below 80 against USD, Banerjee said.

"Therefore, we could see more range bound and low volatility price action over the near term," Banerjee said.

7) European Central Bank makes largest-ever interest rate hike to snuff out record inflation

8) Around 10 pm, MCX October Gold Futures were trading at Rs 50285 per 10 gram and were down by Rs 221 points or 0.44 per cent from the Wednesday closing price. Meanwhile, December Silver futures were trading at Rs 54095, up by Rs 68 or 0.13 per cent.

9) Mcap of BSE-listed firms at all-time high of Rs 282.66 lakh cr

The market capitalisation of BSE-listed firms reached an all-time high of Rs 282.66 lakh crore on Thursday, helped by a rebound in equities.

The 30-share BSE Sensex climbed 659.31 points or 1.12 per cent to settle at 59,688.22 after falling in the previous two trading days.

The bounce back in equities, helped the market capitalisation of BSE-listed firms jump to Rs 2,82,66,696.92 crore. Investor wealth also climbed Rs 1.79 lakh crore on Thursday.
"A solid rebound was the order of the day at Dalal Street as stocks simply zoomed in today's session. The credit for the rally can be given to overnight positive Wall Street cues and also to the fact that crude oil prices continued to tumble. Crude oil prices are trading at their lowest levels after February," Prashanth Tapse - Research Analyst, Senior VP (Research), 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 emerged as the biggest gainers among Sensex stocks. Tata Steel, Titan, NTPC, Nestle and Power Grid were the laggards. PTI