Things to Watch Out; What to expect in the market week ahead - Money Maker Research

The 21st GST Council meet, headed by FM Arun Jaitley, will be held today, 9 Sept 2017 in Hyderabad. In the meeting, the govt of Telangana will show up the demands on reduction of tax slabs on certain products and services.

The IPO of Matrimony.com opens on Monday, 11 Sept 2017 and will close on Wednesday, 13 Sept 2017. Further, the IPO of ICICI Lombard will be opened on September 15 and will close on September 19. Matrimony.com is looking to raise Rs 501 Cr from its proposed IPO with a price Band of Rs 983 – 985 which will Open Sept 11 and will close-Sept 13.

Capacit'e Infra projects is coming up with an IPO with issue size up to Rs 400 crore, with a price band of Rs 245 to Rs 250 per share, which will open on Wednesday, 13 Sept 2017 and will close on Friday, 15 Sept 2017.

Health insurer Cigna TTK has filed an application with Insurance Regulatory & Development Authority to replace its J.V partner, the TTK Group, with the Manipal Group which has a brand presence in health care and education.

Nifty ends at record close 9150

Key Benchmarks ended the week end on a flat note after registering fresh highs intraday as investors are likely to have booked profits in the rally seen during the week. The BSE Sensex settled the day at 29,649, up 63 points, while the broader Nifty50 ended at 9,160, up 6.35 points or 0.07%. The market breadth was downbeat. About 1,225 shares advanced, while 1,593 shares declined, and 204 shares are unchanged.

The cigarette maker ITC rose over 7% at intra-day after the GST Council capped the tax on tobacco products.  ITC ended 4.6% higher along with other cigarette stocks such as Godfrey Phillips, and Golden Tobacco gained today on the BSE. Telecom index was the top sectoral laggards, going down 2.7% with Bharti Airtel dragging the index.  PSU banks and telecom stocks also witnessed a fall.

Overseas, European stocks edged lower since investors take a sigh from a global equity market rally that has pressed U.K stocks to record highs.