Indian Stock Market Outlook for September Series
Indian stock market in August series
The benchmark indices closed in red on the last day of the August series. Nifty50 and Bank Nifty were volatile on the expiry day due to reasons like the global recession, geopolitical tensions, and macro data. Nifty50 closed below the psychological market of 11,000.
The August series of Nifty50 and Bank Nifty future was closed in negative. Nifty50 future fell 376 points and Bank Nifty’s future declined 1793 points during the series. On percentage-wise, Nifty50 and Bank Nifty Future declined almost 3% and 6% respectively in August series.
The reasons for which the Indian stock market fell in Aug series are
- FPI surcharge tax due which FPI/FIIs were net sellers in the market.
- The US-China trade war- which has created volatility in the global market.
- The Currency war after China devalued its currency Yuan, Indian Rupee also got depreciated at an all-time low.
- After the International Monetary Fund ( IMF) lowered Indian GDP from 7.3% to 7 for FY20 in July, CRISIL also revised India’s growth estimate from 7.1% to 6.9%. RBI on 7th Aug Monetary policy revised the GDP growth to 6.9% from earlier projected 7%.
- Indo-Pak cross border tension.
- World’s slow economic growth.
Nifty50 Stocks updates
The top five Nifty50 gainers in Aug series are Maruti Suzuki, Bajaj Auto, Tech Mahindra, Hero Motorco and Hindustan Unilever. The top five losers in Nifty50 stocks are Yes Bank, Tata Steel, State Bank Of India, Indiabulls Housing and Tata Motors. In the month of August, most of the NIfty50 stocks announced their weak Q1 results.
Nifty midcap and smallcap 100 also tanks 510.14 and 285.10 points during the Aug series.FIIs were the net seller and DIIs were the net buyers in the last series. The Indian rupee has depreciated by Rs 3.027 paise against the dollar in the August series. The Brent crude oil price has decreased $ 2.38 per barrel in August series.
Major events in the Indian stock market for September series
The Major events in the August series were RBIs 35bps rate cut and lowered down the GDP forecast from 7% to 6.9%. The Finance Minister announcement for the stimulus package to revive the Indian economy and rollback of FPI super tax.
In the month of September series economic events like IIP data, CPI and WPI data will be released. Finance Minister Nirmala Sitharaman has assured that the government will announce more measures to tackle the current economic slowdown.
Conclusion:
The recent measures taken by the government and continuous monitoring by the Finance Minister is very positive for the Indian stock market. We can expect some more measures in the September series from the Finance Minister. Other then these, traders should also follow closely the global cues like Trade talks, cross border tension and release of important global data
Please share your views about the post.
If you like the post please share with your friends and others
You can also read, Market Updates-Nifty 50 closed above 11000 what next ?
Nifty and Bank Nifty Future Trading View for 11th Sept
PSU Bank Merger: Know which stocks to buy now
Happy Investing!
Editor
Disclaimer-Nifty50Stocks.com has taken due care and caution to compile the data for its Website. The views and investment tips expressed by investment experts on Nifty50Stocks.com are their own and not that of the website or its management. Nifty50Stocks.com is not SEBI registered Advisors and advises its users to check with certified and SEBI registered experts before taking any investment decision. However, Nifty50Stocks.com does not guarantee the accuracy, adequacy or completeness of any information and is not responsible for any errors or omissions or for the results obtained from the use of such information. Nifty50Stocks.com especially states that it has no financial liability whatsoever to any user on account of the use of information provided on its website.
