Block Deal Alert: Shares of PhysicsWallah, Welspun Corp, Rubicon and Viyash Scientific witnessed notable block deal activity on Wednesday, with significant volumes changing hands in separate transactions, putting these stocks in focus.
PhysicsWallah: Around 1.6 per cent of PhysicsWallah’s equity changed hands in multiple block deals, with 4.67 crore shares changing hands across two block deals worth Rs 550 crore.
Rubicon: Around 8.4 lakh shares of Rubicon changed hands in a block deal worth Rs 140 crore.
Groww: Around 2 per cent of Groww’s equity changed hands in two block deals, putting the stock in focus during Wednesday’s trading session.
Stock market triggers to watch
Asian Stock Markets: Asian markets traded mostly higher, supported by gains in technology stocks and easing global bond yields, while investors remained cautious ahead of Nvidia’s earnings report.
US Markets: Wall Street’s major indices closed higher on Tuesday, led by a recovery in technology stocks ahead of Nvidia’s earnings. Easing oil prices and lower bond yields also offered some relief to investors. The Dow Jones Industrial Average rose 160.24 points, or 0.30 per cent, to 53,577.40, while the S&P 500 gained 24.38 points, or 0.32 per cent, to 7,677.24. The Nasdaq Composite advanced 171.11 points, or 0.66 per cent, to 26,151.30.
Dollar Index: The dollar index hovered around 98.90, extending its recent weakness as easing US Treasury yields and reduced expectations of a September Fed rate hike continued to weigh on the greenback.
US Bond Yield: US Treasury yields edged higher, with the 10-year Treasury yield rising marginally to 4.63 per cent and the 2-year Treasury yield increasing to 4.18 per cent.
Asian Currencies: Asian currencies traded mixed against the US dollar. The Philippine peso (+0.25 per cent) and Malaysian ringgit (+0.154 per cent) led the gains, followed by the Taiwan dollar (+0.107 per cent), Chinese renminbi (+0.033 per cent) and Japanese yen (+0.019 per cent). Meanwhile, the South Korean won (-0.083 per cent), Thai baht (-0.04 per cent), Indonesian rupiah (-0.011 per cent) and Singapore dollar (-0.008 per cent) weakened marginally against the greenback.
Crude: Oil prices fell around 2 per cent on Wednesday, extending the previous session’s losses, as hopes grew that the Strait of Hormuz could reopen after Iran said it had resumed talks with neighbouring Oman on managing the strategic waterway.
Gold: Gold prices were largely unchanged in early Asian trade on Wednesday as investors awaited key US inflation data for cues on the Federal Reserve’s interest-rate trajectory.
Fund Flow Action: Foreign institutional investors (FIIs) extended their buying streak for the second consecutive session on August 25, purchasing Indian equities worth Rs 1,593 crore. Domestic institutional investors (DIIs) also remained net buyers, investing Rs 230 crore in the Indian equity market.
(Disclaimer: The above article is meant for informational purposes only and should not be considered as any investment advice. ET NOW DIGITAL suggests its readers/audience to consult their financial advisors before making any money-related decisions.)
