Stock Market Today: The larger Indian index is expected to start flat with a loss of 5 points, according to trends on the GIFT Nifty. The Nifty futures were trading near the level of 19,665.50. After Saudi Arabia and Russia extended voluntary oil production cutbacks through the end of the year, Asian markets were trading in a mixed manner. While Russia will limit its oil exports by 300,000 barrels per day, Saudi Arabia will maintain its 1 million barrels per day cut till the end of December.
Wall Street slips
As investors evaluated the prospects for the Federal Reserve’s interest rate path and Treasury yields increased along with oil prices, Wall Street’s three major averages closed down on Tuesday, with the Dow leading falls. On expectations for a less aggressive Fed, all three of the major U.S. market indices had risen the previous week, but by Monday, those expectations had subsided.
Stock Market Today: Stocks in focus
Jio Financial Services
Due to the stock failing to reach the price band on two consecutive trading days on September 4 and September 5 on the NSE, JFS will be withdrawn from the NSE Indices, including the Nifty50, as of September 7. According to the exchange, the exclusion would not be delayed further even if Jio Financial Services reaches the pricing band on September 6. The stock will also be removed from 13 other indexes in addition to Nifty50, including Nifty 100, Nifty 200, Nifty 500, Nifty Energy, and Nifty India Manufacturing.
Power Grid Corporation of India
The interstate transmission system project in Rajasthan has been awarded to the government-run electric utility firm on a build, own, operate, and transfer (BOOT) basis. Under Phase-III Part H, it will construct the transmission system for the evacuation of power from the REZ in Rajasthan (20 GW).
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