Daily Newsletter
NSE Intra-day chart (02 September 2021)
Top Gainers
Company NameClose% Change
Top Losers
Company NameClose% Change
World Indices
IndicesLast Trade% Change
IndicesLast Trade% Change
FII Activity(Rs. Cr)
DateMarketGross PurchaseGross SalesNet Change
DII Investments(Rs. Cr)
DateBuy ValueSale ValueNet Value
Market Commentary 03 September 2021
Markets likely to open in green amid positive global cues


Indian equity benchmarks resumed record closing high spree after a day's blip on the weekly F&O expiry day, tracking gains in index majors TCS, Hindustan Unilever and Ultratech Cement. Markets witnessed the continuation of a positive trend, as investors cheered RBI's statement that India's holding of IMF's Special Drawing Rights (SDR) has gone up to SDR 13.66 billion which is equivalent to USD 19.41 billion as per exchange rate. The International Monetary Fund (IMF) makes the general SDR allocation to its members in proportion to their existing quotas in the multilateral lending agency. Traders also took some support with the finance ministry stating that Goods and Services Tax (GST) collection topped the Rs 1-lakh-crore mark for the second straight month in August at Rs 1.12 lakh crore, signalling accelerating economic activity. Key gauges added more gains in afternoon session, taking support from Jayanth R Varma, who is a member of the Monetary Policy Committee (MPC) of the Reserve Bank, stating that the ongoing economic recovery will quickly take India above the pre-pandemic levels in most sectors of the economy except contact-intensive services. He noted that the improved health of the Indian financial sector is also a positive factor for economic growth. Traders also took a note of report that the country received 24 per cent less than normal rainfall in August, a vast deviation from the IMD's predictions for the month, but latest forecasts say it is expected to be above normal in September. Meanwhile, markets regulator Sebi eased the framework about the time period for introducing liquidity enhancement schemes on securities by stock exchanges. Finally, the BSE Sensex rose 514.33 points or 0.90% to 57,852.54, while the CNX Nifty was up by 157.90 points or 0.92% to 17,234.15.


The US markets ended higher on Thursday following the release of a Labor Department report showing a modest decrease in first-time claims for US unemployment benefits in the week ended August 28th. The report said initial jobless claims dipped to 340,000, a decrease of 14,000 from the previous week's revised level of 354,000. Street had expected initial jobless claims to edge down to 345,000 from the 353,000 originally reported for the previous week. With the modest decrease, jobless claims fell to their lowest level since hitting 256,000 in the week ended March 14, 2020. Meanwhile, the Commerce Department released a report showing the US trade deficit narrowed in the month of July. The Commerce Department said the trade deficit narrowed to $70.1 billion in July from a revised $73.2 billion in June. Street had expected the trade deficit to narrow to $71.0 billion from the $75.7 billion originally reported for the previous month. The narrower trade deficit came as the value of exports jumped by 1.3 percent to $212.8 billion, while the value of imports dipped by 0.2 percent to $282.9 billion.


Crude oil futures ended higher on Thursday amid optimism about a strong global economic recovery and increased demand for oil. Recent data showing a drop in US crude inventories last week, and a weak US dollar also contributed to oil's advance. Meanwhile, traders continued to react to the decision of OPEC and its allies to stick to their existing plan for gradual monthly oil-production increases. OPEC+ agreed to add another 400,000 barrels per day of supply each month to the market through December. The group also raised its demand forecast for 2022 despite the risk of new lockdowns in several countries to fight the unresolved COVID variant spread. Crude oil futures for October gained $1.40 or about 2 percent to settle $69.99 barrel on the New York Mercantile Exchange. November Brent crude surged $1.30 or about 1.8% percent to settle at $72.89 a barrel on London's Intercontinental Exchange.


Indian rupee ended marginally higher against dollar on Thursday, on persistent selling of the American currency by exporters and healthy gains in domestic equity markets. Traders took support with private report penning that the ongoing economic recovery will quickly take India above the pre-pandemic levels in most sectors of the economy, adding that the improved health of the Indian financial sector is also a positive factor for economic growth. However, upside remain capped with former RBI Deputy Governor Viral Acharya's statement that he is worried about US tapering coinciding with RBI's rate tightening, and warned that barring high forex reserves, domestic conditions are the same as the ones during the 2013 'taper tantrums'. On the global front, sterling edged higher on Thursday, driven by dollar weakness after disappointing U.S. labor data, while traders waited for the fuller jobs report on Friday to give new momentum to currency markets. Finally, the rupee ended 73.06, stronger by 2 paise from its previous close of 73.08 on Wednesday.


The FIIs as per Thursday's data were net buyers in both equity and debt segment. In equity segment, the gross buying was of Rs 9365.50 crore against gross selling of Rs 8726.38 crore, while in the debt segment, the gross purchase was of Rs 1669.23 crore with gross sales of Rs 193.10 crore. Besides, in the hybrid segment, the gross buying was of Rs 7.57 crore against gross selling of Rs 15.99 crore.


The US markets ended higher on Thursday after data showed the number of Americans filing new claims for jobless benefits fell to lowest since March 2020. Asian markets are trading mostly in green on Friday as investors look ahead to the release of a private survey on China's services sector activity in August. Indian markets scaled record highs during the session on Thursday and closed almost a percent higher led by buying across the sectors. Today, markets are likely to open in green with minor gains amid positive global cues. Investors are eyeing the Services PMI data for August, due to be announced later in the day. Traders will be taking encouragement as the commerce ministry's provisional data India's exports jumped 45.17 per cent to $33.14 billion in August as against $22.83 billion in the same month last year. The exports during April-August 2021 stood at $163.67 billion, an increase of 66.92 per cent over $98.05 billion in the same period a year ago. Some support will come as Reserve Bank of India's deputy governor M Rajeshwar Rao said the account aggregator ecosystem in the country is in a nascent stage and there is a need for its orderly growth. Traders may take note of report that India and the United Kingdom expressed their commitment to working out a free trade agreement and said the two countries would be ambitious while negotiating on services in the deal. However, a consistent rise in the coronavirus cases and fear of a third Covid wave is driving investors towards defensive bets. India reported over 45,000 new cases of Covid-19 in the last 24 hours. This was also the biggest single-day rise in two months. Meanwhile, RBI data showed Indian companies raised over $3.43 billion from foreign markets through external commercial borrowings (ECBs) in July this year, up by nearly 60 per cent from a year ago. Telecoms stocks will be in limelight as regulator Trai directed all telecom service providers to immediately ensure that only tariffs that are reported to it are offered through their channels, distributors or retailers, as it cracked the whip on discounts allegedly being doled out by some channel partners to lure customers from other networks. There will be some buzz in aviation stocks as accelerated vaccination drive as well as higher rate of economic activity rose India's domestic air passenger traffic in July 2021 on a year-on-year basis. According to the International Air Transport Association (IATA), India's domestic air passenger volume -- measured in revenue passenger kilometres (RPK) -- was one of the highest amongst major aviation markets such as Australia, Brazil, China, Japan, Russia and the US. Sugar industry stocks will be in floccus as with a private report that the Indian Sugar Mills Association (ISMA) has once again written to the Prime Minister's Office (PMO) to increase the Minimum Sale Price (MSP) of sugar from the current Rs 31 per kg to atleast Rs 34-35 per kg in line with the recent increase in Fair and Remunerative Price (FRP) sugarcane to Rs 290 per quintal. There will be some reaction in power industry stocks as India Ratings said all India energy demand recovered by 11 per cent to 124.8 billion units in July 2021, on account of stabilising economic activities and decline in COVID-19 cases. In the primary, the three-day IPOs of Vijaya Diagnostics and Ami Organics will close today.


Support and Resistance: NSE (Nifty) and BSE (Sensex)



Previous close



NSE Nifty




BSE Sensex





Nifty Top volumes





Previous close (Rs)

Support  (Rs)

Resistance (Rs)

(in Lacs)

Bharti Airtel





HDFC Life Insurance Company





Tata Motors





State Bank of India











  • Dr. Reddy's Laboratories has launched Reddy-Lenalidomide, a generic equivalent to Revlimid (lenalidomide) capsules in the Canadian market. 
  • Coal India has produced 42.6 million tonnes of coal in August 2021, registering an increase of 14.6 per cent over the corresponding month of the previous fiscal. 
  • Axis Bank has raised $600 million from offshore investors by selling sustainable additional tier-1 bonds at a coupon of 4.1 per cent. 
  • State Bank of India has raised Rs 4,000 crore through Basel compliant additional tier 1 bonds, offering a coupon rate of 7.72 percent.
News Analysis