Stock Market Today: GIFT Nifty indicates a bullish start; NTPC, Tata Steel in focus

Stock Market Today: Dalal Street was expected to have a successful start on Friday as the GIFT Nifty on the NSE IX trading 16.5 points, or 0.09 percent, higher at 19,299.50. On the daily chart, Nifty today created an Inside Bar candle after ending roughly 100 points lower at 19,365. According to Chandan Taparia of Motilal Oswal, till it maintains below 19420 zones, some additional profit booking may be observed towards 19300 then 19250 zones, with resistance at 19480 then 19560 zones.

Rupee falls, Tokyo stocks opened lower

The US dollar's strength abroad and a downward trend in domestic markets on Thursday caused the rupee to give up some of its early gains and close the day weaker by 1 paisa at a new all-time low of 83.09.
Following losses on Wall Street, Tokyo equities opened lower on Friday as US Treasury bond yields increased further from multi-year highs.The broad Topix index dropped 0.84 percent, or 18.91 points, to 2,234.15, while the benchmark Nikkei 225 index down 0.96 percent, or 303.66 points, to 31,322.34.

Stock Market Today: Top stocks

Tata Steel

The Tata Group company will convene a meeting of its equity shareholders on September 18. They will think about the TRF and Tata Steel combination and, if appropriate, with or without modification(s), accept the amalgamation plan.

IFGL Refractories

By selling its whole personal interest, foreign promoter Krosaki Harima Corporation, Japan, has left IFGL Refractories. In an off-market transaction, Krosaki sold 55.90 lakh equity shares for Rs 111.8 crore, or 15.51% of the total paid-up equity. The purchaser was Indian promoter Bajoria Financial Services.

NTPC

The state-owned power generation company and its subsidiary NTPC Mining have signed a business transfer agreement (BTA) to separate the coal mining operations. When the prerequisites outlined in the BTA are met, the BTA will go into force. On July 29, the board approved NTPC's request to spin off its mining division, which consists of six coal mines, to NTPC Mining through BTA.

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