Market Research Report

25.08.2023

Top News:

1,RBI MPC minutes: Inflation concerns re-emerge, panel flags need for
closely monitoring situation

With retail inflation hardening once again in July-August owing to a spike in

vegetable prices, the rate-setting panel of the Reserve Bank of India stressed the
need to monitor the situation closely given the risk of El Nino and uneven
rainfall.

"While the vegetable price shocks are expected to correct quickly with the
arrival of fresh crops, there are risks to the food and the overall inflation outlook
from El Nino conditions, volatile global food prices and skewed monsoon
distribution - all of which warrant close monitoring," said RBI Governor
Shaktikanta Das during the recent meeting of the Monetary Policy Committee.

2,National Medical Commission puts proposed 'generic drugs only'

regulations on hold

The National Medical Commission (NMC) has put on hold the newly
proposed regulations.

The NMC’s regulation, issued earlier this month that stated that all doctors
must prescribe generic drugs, failing which they will be penalised, and even
their license to practise may be suspended for a period, has not gone down well
with the Indian Medical

3,RIL may sell 8-10% more in Rel Retail ventures to fund expansion

Reliance Industries is likely to sell another 8-10% stake in Reliance Retail

Ventures Ltd (RRVL) to fund expansion, retire debt and prepare for the initial
public offering of the conglomerate's retail business, two senior industry
executives aware of the plans said.
 This process will likely happen in tranches over 12-15 months and will be
critical for the proposed IPO by the holding company of Reliance's retail

PRE - MARKET REPORT 

On August 24, local time, the three major U. S. stock indexes collectively
plunged, Dow Jones Industrial fell 1.08%, Nasdaq fell 1.87%. On the news, Fed
Collins said further interest rates may be needed and interest rates could be
close to peak.

Meanwhile, global markets did not take significant steps as they waited for
the outcome of a central bank governor's meeting scheduled for Friday in
Jackson Hole. As the earnings season draws to a close, the possibility of another
US interest rate hike increases, and the resulting rise in bond yields is expected
to lead to higher volatility in global markets. India's central bank has also begun
formulating monetary policy on domestic inflation.

Yesterday, NIFTY opened higher, most stocks fell, bringing pessimism, and
even proposed the panic speech below 18300 points. I think NIFTY has strong
support in the 19000 line. This view was repeatedly stressed last week, and
there will be better buying opportunities after the adjustment, so there is no need
to panic and worry.

NIFTY is likely to continue adjusting from peripheral markets today,

watching support below the 60-day average. BANKNIFTY May return to below
44,000.

As the weekend is approaching, the market uncertainty increased, this

morning did not share stocks, to be the market signal clear, and then actively
respond to the market changes.

By,
Aditya
Agarwal

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