Good morning and we wish everyone a happy Friday!
We hope you are as pumped as Lando Norris was for the weekend coz’ the markets surely were! It’s Friday then…it’s Saturday Sunday WHAT (LANDO)
Markets at a glance
The bulls charged through the 17,200 Nifty50 mark and seemed absolutely unstoppable on the weekly FNO expiry day.
We reiterate our previous question: “Mandi Kaha hai?“
Auto alongside PSU banks lagged as other sectors pushed Sensex to almost a 550 point gain!
What’s making headlines?
India sees a spike in COVID-19 cases as the country prepares for the third wave: Kerala worst-hit (Reuters)
Maruti (NSE: +0.12%) is in the news again as stakeholders try to evaluate the effects of the chip shortage on the auto company (ET)
Fundraising plans boost HDFC Life’s (NSE: +5.77%) share price ahead of the board meeting (ZEE)
Airtel (NSE: -0.20%) flexed its newest 5G powered cloud-based gaming on smartphones in its most recent press briefing as the telecom battle heats up (IE) (check meme of the day)
BLS International (NSE: +7.17%) hit a 52-week high after signing a big contract with the Republic of Philippines (MC)
Where’s the money flowing?
India’s biggest crude oil and natural gas company ONGC (NSE: -0.88%) is eyeing a stake in Russia’s Vostok Oil project (ET)
Bengaluru based AI SaaS voice automation company Skit raises $23 Million in a Series B round (TC)
The Indian startup ecosystem is inundated with money as the country sees at least one seed round a day (ET)
EV infra startup Revos raised $4 Million in a Series A round led by Prime Venture Partners and Union Square Ventures (ET)
More news?
A state of emergency was declared in New York as the city was ravaged by record-breaking rainfall after Hurricane Ida swept across the East Coast (Reuters)
A consortium of Indian Banks have launched an Account Aggregator software, the purpose of this software will be to allow users to aggregate all their financial data in one place. A big step for the Indian financial ecosystem after the launch of UPI (TC)
Another boost to the Indian economy as exports in August were up by 45% (ET)
WhatsApp hit with $267 Million fine by the EU after a breach of privacy laws (Verge)