The market's uptrend was halted in the last session of last week. Nifty closed down by about 100 from the day's highs. However, even after this, the market managed to close on a weekly basis on a positive note for the third consecutive week. The market is set to close on a positive note in the month of September. Today is the last session of the month of September and the second quarter. After this, business updates of companies will start coming.

Business updates and then quarterly results are going to be very important triggers for the market. In such a situation, it remains to be seen whether Nifty reaches a new peak again after the results or there will be pressure from the upper levels. A large part of the recent rally in Nifty came on the strength of Nifty Bank. In such a

situation, the banking sector can also decide the direction of the market in the future. Especially at a time when there is concern about the credit card defaults of banks and it can become a cause of trouble for many banks. The effect of tension in the Middle East is also possible on the market. Tensions between Iran, Israel and Hezbollah are increasing amid continuous attacks on Lebanon. Its effect can also be seen on the price of crude oil. Employment figures will also be released in the US this week. After the rate cut by the Fed, the US market has seen a continuous rise. But, the pace of this rally has also slowed down in the last few sessions. Indications from global markets show weakness in Asian markets today. Japan's Nikkei index was seen slipping by more than 4% in early trading. The market here is witnessing a decline after the Yen weakened against the dollar and the election results. On the other hand, China is adopting an aggressive stance to provide economic relief. After this, the markets here are witnessing a boom. Hong Kong's Hang Seng opened with a gain of 2.6%. South Korea's Kospi index is witnessing a weakness of half a percent today. Taiwan's markets are also witnessing a weakness of one and a quarter percent. On the other hand, the US markets closed mixed on Friday. However, the Dow Jones managed to reach a new record high. The Dow Jones closed with a gain of 138 points on this day. But, the S&P 500 index slipped 7 points and closed flat. Nasdaq also saw a decline of 71 points. US futures are trading flat. FIIs - DIIs data: Domestic institutional investors have made large scale purchases in the cash market on Friday. On the other hand, foreign institutional investors have sold in the cash market on this day. Outlook on Nifty for today Nagaraj Shetti of HDFC Securities says that Nifty has formed a big bull candle on the weekly chart. This is the third consecutive bull candle and it is indicating that the uptrend will continue. However, consolidation can also be seen in Nifty in the next few sessions. There is an important support for Nifty at 25,900. Amol Athawale of Kotak Securities has advised to buy on dips and sell on ups. This advice will be for short-term traders. For them, Nifty has support at 26,100 and 26,000. Whereas, there will be resistance at the level of 26,400 - 26,500. Traders are advised to exit long positions after slipping below 26,000. Praveen Dwarkanath of Hedged.in said that there are still bullish signs in the market and the target for Nifty will be 26,500. Option data for October expiry shows that In the money and Out of the Money calls and put writing has increased. In such a situation, there are signs that the current rally will continue. Outlook for Nifty Bank for today

On Friday, selling pressure was seen on Nifty Bank. Nifty Bank recently saw a gain of 3,000 points, out of which the index has lost 550 points. On Friday, the index closed below 54,000. However, on a weekly basis, the index managed to close on a gain.

Rishikesh Yedve of Asit C Mehta Investment Intermediates says that the daily chart shows signs of weakness in Nifty Bank. But, the index is still holding the breakout point. There is resistance for Nifty Bank at the level of 54,000 and then at the level of 54,500. There is support for the index at the level of 53,350 - 53,400.

Which stocks will be in focus today
LIC and MGL: LIC has reduced its holding in MGL from 9.030% to 2.091% to 6.939% between September 12-26.

Mangalore Chemicals: Production has started in ammonia and urea plants. Both the plants were closed on 6 September. IndusInd Bank: The bank has appointed Sumant Kathpalia as MD & CEO for 5 years. This appointment will be effective from 24 March 2025. RBI had approved the appointment of Sumant Kathpalia. Adani Energy: Adani has entered into a business transfer agreement with its unit North Maharashtra Power Limited (NMPL) for Dahanu Thermal Power Station. Adani Enterprises: The company's JV unit April Moon Retail has bought 74% stake in Cococart Ventures for Rs 200 crore. Tata Chemicals: The board has appointed Subodh Srivastava as Chief Marketing Office. This appointment will be effective from 21 October 2024. Bharat Electronics: The Corporate Ministry has approved the incorporation of BEL IAI Aerosystems with Israel Aerospace Industries. Apollo Hospitals: Rasmeli will buy 16.9% stake in Apollo Healthco. This stake will be bought in two installments. After this, the company's stake in Apollo Healthco will decrease from 94.91% to 78.879%. ICICI Prudential: A tax demand notice of ₹361.23 crore including interest has been received for the assessment year. The company will appeal against this notice. PNB: The bank has raised ₹5,000 crore by issuing 48.19 crore shares at ₹103.75 per share through QIP. Zomato: Aakriti Chopra has resigned from the post of co-founder and China People Officer. This resignation has become effective from 27 September 2024. IDFC First Bank: The board has approved the merger of IDFC FHCL with IDFC Limited, which will be effective from 30 September. Also, V Vaidyanathan has been appointed MD & CEO. This appointment will be from 19 December 2024 to 18 December 2027. Dr Reddy's Labs: The company has completed an investment of $640 million in its Switzerland unit. Welspun Enterprises: The company has placed the lowest bid for a contract of ₹1,989.9 crore from Mumbai Municipal Corporation i.e. BMC. Lupin:
 

3 objections have been received from US FDA for Pithampur facility. This facility was inspected between 16 and 27 September 2024.

Tata Motors: The company has started building a new vehicle manufacturing facility in Tamil Nadu. The company will spend ₹9,000 crore in this greenfield manufacturing facility and it will be able to produce 2.5 lakh vehicles annually. Production here will be done in a phased manner and work will start at full capacity in 5-7 years. The company will also manufacture Tata Motors' JLR in this new plant.

Biocon: 4 objections have been received from US FDA for Bengaluru facility. This facility was inspected between 23 and 27 September.

Jubilant Pharmova: US FDA has issued OAI to Canadian facility Jubilant HollisterStier.

Piramal Pharma: US FDA has issued EIR to Ahmedabad facility. On July 12, the US FDA issued Form 483 to this facility.

Asian Energy Services: The company has received an order of ₹82 crore for 2D Seismic Data from Oil India.

Reliance Infra: The Kolkata High Court has ruled in favor of the company in the case against Damodar Valley Corp. Also, the arbitration award of ₹780 crore has been upheld.