Indices at previous closing
Nifty50: 17,377 ▲+54 (+0.3%)
Sensex: 58,296 ▲+166 (+0.2%)
Nifty Bank: 36,592 ▼ -16 (-0.4%)
In the news
Maruti Suzuki raises prices again
India’s largest carmaker has said that it has raised prices for select models. The price hike comes in the wake of rising input prices and will be the third hike by the carmaker this year.
The average price increase is 1.9% across select models and comes ahead of the upcoming festive season. Besides the challenge of rising input prices, automakers including Maruti Suzuki have been forced to implement production cuts due to the shortage of semiconductors. Meanwhile, the shares of the company were down 0.3% yesterday.
Anant Raj sells part of warehousing biz
The New Delhi-based real estate company has sold its warehousing assets in North Delhi to BlackRock, the asset management major. The sale fetched Anant Raj Limited ₹295 crore.
The deal is in line with the company’s aim to become debt-free and maintain focus on core development projects. Yesterday, the shares of the company gained 4.2%.
Air traffic witnesses uptick
Last week, airlines reportedly witnessed an average of 220,000 fliers per day. This represents about 8% week-on-week improvement in daily air traffic.
The improvement comes on top of a 30% month-on-month jump seen in August. Market experts believe that air travel bookings are picking-up on account of the upcoming festival season and expect a much faster revival for the sector going ahead. While Spicejet has declined about 5% in August, Indigo has gained 16% during the same period. However, shares of both the companies showed weakness yesterday.
Sectoral indices (September 6)
| Top gainers | Top losers |
| Nifty Realty ▲ 3.1% | Nifty Pvt Bank ▼ 0.5% |
| Nifty IT ▲ 1.5% | Nifty Bank ▼ 0.4% |
Global markets (at 8:00 am)
| Indices | Today's movement |
| SGX Nifty | ▲ 0.0% |
| Nikkei 225 (Japan) | ▲ 0.8% |
| Hang Seng (Hong Kong) | ▲ 0.5% |
| SSE Composite (China) | ▲ 0.3% |
| Dow Jones (US) (September 3) | ▼ 0.2% |
| NYSE (US) (September 3) | ▼ 0.1% |
| Nasdaq (US) (September 3) | ▲ 0.2% |
| S&P 500 (US) (September 3) | ▼ 0.0% |
Fact of the day
The Tata-owned Taj Mahal Palace Hotel was the first building in Mumbai to be lit by electricity. It also had the the city’s first licensed bar and India’s first all-day dining restaurant,
Source: Vogue
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.