Indices at previous closing
Nifty50: 17,234 ▲ +157 (+0.9%)
Sensex: 57,852 ▲ +514 (+0.9%)
Nifty Bank: 36,831 ▲ +257 (+0.7%)
In the news
Vijay D’nostic, Ami Organics IPOs close today
On Day 2 of its public issue, Ami Organics’ ₹570 crore IPO was subscribed 3.9 times. The subscription was led by retail investors who bid 6.32 times their quota.
Meanwhile, Vijay Diagnostic’s ₹1,895 crore IPO’s overall subscription stands at 47%. Today is the last day to subscribe to these IPOs, and you can apply to them on Upstox here.
IRB bags highway construction deal
The Mumbai-based highway construction company has won a project to build a 20km section of the six-lane Chittoor-Thachur highway in Tamil Nadu. The project worth ₹909 crore, is expected to be completed in 730 days. Thereafter, the company will have the rights for operation and maintenance of the section for 15 years.
After the latest project, IRB’s order book stands at ₹14,189 crores,which is nearly 3 times it's FY21 revenues. The stock closed 4.7% higher yesterday, but the news of the new order came after market hours.
Oil prices rise above $70-mark
The prices of crude oil rose above $70 per barrel for the first time in almost a month on Thursday. The reasons for this are the possibility of Hurricane Ida hurting production in the US and a weak dollar.
Also, according to the latest government data, the crude oil inventory in the US fell to a two-year low last week. Experts also believe that higher natural gas prices could fuel demand for oil in the winter. Against this backdrop, West Texas Intermediate futures rose 2.8% on Thursday.
Sectoral indices (September 2)
| Top gainers | Top losers |
| Nifty IT ▲ 1.6% | Nifty PSU Bank ▼ 0.4% |
| Nifty FMCG ▲ 1.6% | Nifty Auto ▼ 0.2% |
Global markets (at 8:00 am)
| Indices | Today's movement |
| SGX Nifty | ▲ 0.1% |
| Nikkei 225 (Japan) | ▲ 0.9% |
| Hang Seng (Hong Kong) | ▼ 0.4% |
| SSE Composite (China) | ▲ 0.3% |
| Dow Jones (US) (September 2) | ▲ 0.3% |
| NYSE (US) (September 2) | ▲ 0.4% |
| Nasdaq (US) (September 2) | ▲ 0.1% |
| S&P 500 (US) (September 2) | ▲ 0.2% |
Fact of the day
Asian Paints was India’s first private company to buy a mainframe computer. It bought the mainframe in 1970 for ₹8 crore.
Source: Finmedium
Yay 👍 or Nay 👎?
We'd love your thoughts on this morning update.
If you haven't already, open your Upstox account to get IPO-ready today! Click here to sign up.
To catch our latest educational videos, join our Telegram channel here.
Disclosures and Disclaimer
Investment in securities markets is subject to market risks; please read all the related documents carefully before investing. The securities quoted are exemplary and are not recommendatory. Past performance is not indicative of future results. Details provided in the above newsletter are for educational purposes and should not be construed as investment advice by RKSV group. Investors should consult their investment advisor before making any investment decision.