Domestic barometers hit fresh intraday high; realty shares edge higher.

The key equity barometers hit fresh intraday high in mid-morning trade. The Nifty managed to hold tad above the 19,600 level. Realty stocks extended gains for second consecutive session.

The barometer index, the S&P BSE Sensex, was up 201.47 points or 0.31% to 65,833.04. The Nifty 50 index advanced 62.60 points or 0.32% to 19,608.35.

In the broader market, the S&P BSE Mid-Cap index rose 0.32% while the S&P BSE Small-Cap index gained 0.31%.

The market breadth was strong. On the BSE, 2163 shares rose and 1262 shares fell. A total of 172 shares were unchanged.

RBI MPC Meet Outcome:

The Reserve Bank of India's Monetary Policy Committee (MPC) at its meeting today (October 6, 2023) decided to Keep the policy repo rate under the liquidity adjustment facility (LAF) unchanged at 6.50%.

The standing deposit facility (SDF) rate remains unchanged at 6.25% and the marginal standing facility (MSF) rate and the Bank Rate at 6.75%.

The MPC also decided to remain focused on withdrawal of accommodation to ensure that inflation progressively aligns to the target, while supporting growth.

These decisions are in consonance with the objective of achieving the medium-term target for consumer price index (CPI) inflation of 4% within a band of +/- 2%, while supporting growth.

CPI inflation is maintained at 5.4% for 2023-24, with Q2 at 6.4%, Q3 at 5.6% and Q4 at 5.2%, with risks evenly balanced. CPI inflation for Q1:2024-25 is maintained at 5.2%. Inflation is expected to improve in the near term due to a correction in vegetable prices and the recent reduction in LPG prices. The future trajectory will depend on factors such as lower pulses area, falling reservoir levels, El Ni?o conditions, and volatile global energy and food prices.

Real GDP growth for 2023-24 is maintained at 6.5%, with Q2 at 6.5%, Q3 at 6.0%, and Q4 at 5.7%, with risks evenly balanced. Real GDP growth for Q1:2024-25 is maintained at 6.6%. Domestic demand is expected to be the key driver of growth in the near term, but global headwinds need to be monitored closely.

The next meeting of the MPC is scheduled during 6-8 December 2023.

Buzzing Index:

The Nifty Realty index added 0.82% to 574.65. The index has gained 1.12% in two sessions.

Godrej Properties (up 1.77%), Brigade Enterprises (up 1.46%), DLF (up 0.91%), Prestige Estates Projects (up 0.9%) and Macrotech Developers (up 0.55%) were the top index gainers.

Stocks in Spotlight:

Angel One advanced 2.15%. The stockbroker's its client base jumped 47.6% to 17.07 million in September 2023 as against 11.57 million in September 2022. On sequential basis, the company's client base rose by 4.4% month on month (MoM) from 16.36 million in August 2023.

FSN E-Commerce Ventures (Nykaa) added 2.21%. The company has witnessed strong momentum in Q2 FY24. At the consolidated level, for Q2 FY24, the company expects net sales value to grow in the mid-twenties and revenue to grow in the early twenties on YoY basis, both at levels similar to Q1 FY24. Overall, the H1 FY24 performance sets up well for the year with second half historically witnessing superior consumer demand.

Global markets:

Asian stocks are trading higher following much weaker-than-expected jobs data. China's markets remain closed for the weeklong holiday.

US stocks ended lower Thursday as investors looked toward key jobs data on Friday that could determine the next move for interest rates. Weekly initial jobless claims came in at 207,000 for the week ending September 30, up just 2,000 from the prior week's numbers.

The domestic equity benchmarks edged higher in early trade as the bourses witnessed significant buying in key index pivotals. The Nifty traded above the 19,500 level. Stocks across sectors advanced, with IT, autos and bank shares gaining the most.

The barometer index, the S&P BSE Sensex, was up 296.91 points or 0.46% to 65,522.95. The Nifty 50 index added 85.20 points or 0.44% to 19,521.30.

In the broader market, the S&P BSE Mid-Cap index gained 0.85% while the S&P BSE Small-Cap index rose 0.94%.

The market breadth was strong. On the BSE, 2104 shares rose and 403 shares fell. A total of 81 shares were unchanged.

The Reserve Bank Governor-headed six-member Monetary Policy Committee (MPC) meeting is scheduled for 4 to 6 October 2023. The MPC of the Reserve Bank of India (RBI) is likely to maintain a status quo on interest rates, as per reports.

Stocks in Spotlight:

Hero MotoCorp added 1.66%. The company has received 13,688 bookings for its newly launched flagship motorcycle, Karizma XMR. Dispatches of Karizma XMR to Hero MotoCorp dealerships have already started and customer deliveries will begin in the festive period this month.

Healthcare Global Enterprises (HCG) rose 0.26%. HCG announced the strategic acquisition of SRJ CBCC Cancer hospital in Indore. This acquisition marks HCG's entry into the key geography of Madhya Pradesh enhancing its commitment to delivering cancer care across India.

Sheela Foam shed 0.59%. The company has received a show cause cum demand notice from the commissioner of GST Intelligence, Gautam Budh Nagar, Greater Noida under section 16 of the Central Goods and Services Tax Act, 2017, alleging a tax demand of Rs 20.26 crores in addition with the an equivalent penalty of Rs. 20.26 crore and applicable interest on the demand.

Numbers to track:

The yield on India's 10-year benchmark federal paper declined 0.35% to 7.213 from its previous close of 7.238.

In the foreign exchange market, the rupee edged lower against the dollar. The partially convertible rupee was hovering at 83.2100, compared with its close of 83.2400 during the previous trading session.

MCX Gold futures for 5 October 2023 settlement advanced 0.28% to Rs 56,878.

The US Dollar index (DXY), which tracks the greenback's value against a basket of currencies, was down 0.26% to 106.52.

The United States 10-year bond yield declined 0.32% to 4.718.

In the commodities market, Brent crude for September 2023 settlement gained 59 cents or 0.69% to $86.40 a barrel.

Global markets:

Asian stocks are trading higher on Thursday following a drop in oil prices and softer US labour data. China's markets remain closed for the weeklong holiday.

US stocks broke a three-day losing streak Wednesday as Treasury yields pulled back from multiyear highs following the release of much weaker-than-expected jobs data.

Wednesday's moves follow the release of new jobs data. ADP said 89,000 private payrolls were added last month. That's well below an upwardly revised 180,000 payroll additions from August.

Street Investment

The domestic equity benchmarks traded with significant losses in early trade. The Nifty traded below the 19,550 level. Except the FMCG and consumer durable stocks, shares across sectors declined with autos, banks and metals falling the most.

The barometer index, the S&P BSE Sensex, was down 329.62 points or 0.50% to 65,489.79. The Nifty 50 index lost 111.70 points or 0.57% to 19,526.60.

In the broader market, the S&P BSE Mid-Cap index fell 0.23% while the S&P BSE Small-Cap index added 0.12%.

The market breadth was almost even. On the BSE, 1,394 shares rose and 1,350 shares fell. A total of 165 shares were unchanged.

Investor sentiment took a hit after top Federal Reserve officials, including Fed Governor Michelle Bowman, Vice Chair Michael Barr, Fed Chair Jerome Powell, and New York Fed Chief John Williams, have indicated their willingness to support an increase in the federal funds rate if economic data suggests a sluggish approach towards the central bank's 2% inflation target.

Despite considerable progress, these officials agreed that inflation remains elevated, hinting at the possibility of further rate increases. The current policy rate stands between 5.25% and 5.50%.

They also underscored the need for a restrictive monetary policy over an extended period to achieve their objectives.

Economy:

The gross GST revenue for September rose 2.2 per cent to Rs 1,62,712 crore from Rs 1,59,069 crore in August.Out of the Rs 1,62,712 crore GST collections for September, CGST was Rs 29,818 crore, SGST was Rs 37,657 crore, IGST was Rs 83,623 crore (including Rs 41,145 crore collected on import of goods) and cess was Rs 11,613 crore (including Rs 881 crore collected on import of goods).

It is for the fourth time that the gross GST collection has crossed Rs 1.60 lakh crore mark in 2023-24.

The gross GST collection for the first half of 2023-24 ending September (Rs 9,92,508 crore) is 11 per cent higher than the gross GST collection in the first half of 2022-23 (Rs 8,93,334 crore).

The Reserve Bank of India's (RBI's) six-member Monetary Policy Committee (MPC) will meet from Wednesday to Friday this week. The decision of the MPC will be announced by Das on Friday.

As per media reports, there could be divergence within the RBI's MPC as to the stance of the monetary policy, though unanimity on not changing the repo rate from the current 6.5 per cent is expected to be maintained. In the previous MPC meeting held from August 8-10, the members unanimously decided to retain the repo rate at 6.5 per cent, while there was on divergent view on the withdrawal of accommodation stance.

Stocks in Spotlight:

Vedanta advanced 2.40%. The company on Friday announced the creation of independent verticals through demerger of various companies, mainly its metals, power, aluminium, and oil and gas businesses to unlock value. The demerger will result in the formation of six separate companies, and each will be listed.

Coal India (CIL) shed 0.81%. CIL produced about 333 million tonnes (MTs) of coal ending first half of the current financial year posting a strong 11.3% year-on-year growth. Output for the month of September 2023 was 51.4 MTs, a 5.8 MTs jump or a growth of 12.6%.

Tata Motors declined 0.72%. The company has announced that its total domestic sales in September 2023 stood at 82,023 vehicles, a growth of 2%. Tata Motors sales in the domestic & international market for Q2 FY 2023-24 stood at 2,43,024 vehicles, compared to 2,43,387 units during Q2 FY 2022-23.

Mahindra & Mahindra (M&M) rose 0.72%. M&M announced that its overall auto sales for the month of September 2023 stood at 75,604 vehicles, a growth of 17%, including exports. M&M's Farm Equipment Sector (FES) said domestic tractor sales were at 42,034 units in September 2023, as against 47,100 units during September 2022.

Numbers to track:

The yield on India's 10-year benchmark federal paper rose 0.32% to 7.233 from its previous close of 7.238.

In the foreign exchange market, the rupee edged higher against the dollar. The partially convertible rupee was hovering at 83.2050, compared with its close of 83.0650 during the previous trading session.

MCX Gold futures for 5 October 2023 settlement declined 1.57% to Rs 56,209.

The US Dollar index (DXY), which tracks the greenback's value against a basket of currencies, was up 0.20% to 107.12.

The United States 10-year bond yield advanced 0.02% to 4.688.

Global markets:

Asian stocks are trading lower on Tuesday after Federal Reserve officials cemented the view that U.S. interest rates are likely to remain elevated for some time, while the yen slid to near a one-year low, putting traders on watch for intervention from Japanese authorities. Chinese markets are closed for the week because of the Golden Week Holiday.

US stocks ended on a mixed note on Tuesday. U.S. Federal Reserve officials said that monetary policy will need to stay restrictive for some time to bring inflation back down to the Fed's 2% target.

The World Bank forecasts growth in in the developing East Asia and Pacific region to remain strong at 5% in 2023. However, its expects growth to ease in the second half of 2023 and fall to 4.5% in 2024, according to its regional update published on Sunday.

Street Investment

The benchmark indices extended gains in mid-morning trade. The Nifty marched above the 19,600 level. Media shares edged higher after declining in the past trading session.

The barometer index, the S&P BSE Sensex, was up 244.49 points or 0.37% to 65,752.81. The Nifty 50 index rose 89.15 points or 0.46% to 19,612.70.

In the broader market, the S&P BSE Mid-Cap index gained 1.16% while the S&P BSE Small-Cap index added 0.39%.

The market breadth was strong. On the BSE, 2,218 shares rose and 1,172 shares fell. A total of 171 shares were unchanged.

IPO Update:

The initial public offer (IPO) of Plaza Wires received bids for 94.98 lakh shares as against 94.96 lakh shares on offer, according to stock exchange data at 11:18 IST on Friday (29 September 2023). The issue was subscribed 1 time.

The issue opened for bidding on Friday (29 September 2023) and it will close on Thursday (5 October 2023). The price band of the IPO is fixed at Rs 51-54 per share. An investor can bid for a minimum of 277 equity shares and in multiples thereof.

The initial public offer (IPO) of Valiant Laboratories received bids for 76.50 shares as against 76.23 lakh shares on offer, according to stock exchange data at 11:33 IST on Thursday (28 September 2023). The issue was subscribed 1 time.

The issue opened for bidding on Wednesday (27 September 2023) and it will close on Tuesday (3 October 2023). The price band of the IPO is fixed at Rs 133-140 per share. An investor can bid for a minimum of 105 equity shares and in multiples thereof.

Buzzing Index:

The Nifty Media index advanced 1.26% to 2,252.60. The index declined 1.40% in the past trading session.

Sun TV Network (up 4.46%), Zee Entertainment Enterprises (up 1.95%), D B Corp (up 1.52%), Network 18 Media & Investments (up 0.79%), PVR Inox (up 0.53%), Hathway Cable & Datacom (up 0.5%) and TV18 Broadcast (up 0.35%) advanced.

On the other hand, Nazara Technologies (down 0.57%), Dish TV India (down 0.54%) and Saregama India (down 0.19%) edged lower.

Stocks in Spotlight:

Saregama India declined 0.31%. The company said that it has entered into investment agreement with Pocket Aces Pictures to acquire 92.61% stake with multiple transactions.

Navin Fluorine International dropped 13.65% after the company announced resignation of its managing director, Radhesh R. Welling.

Larsen & Toubro (L&T) rose 0.30%. The EPC major announced that its construction arm has secured 'mega' order for its Heavy Civil Infrastructure business. As per L&T's classification, the value of the 'mega' project is more than Rs 7,000 crore. The said order has been received from Mumbai Metropolitan Region Development Authority (MMRDA), for the design and construction of an underground road tunnel project between Orange gate, Eastern Free Way to Marine Drive Coastal Road at Mumbai.

Numbers to track:

The yield on India's 10-year benchmark federal paper fell 0.32% to 7.215 from its previous close of 7.238.

In the foreign exchange market, the rupee edged higher against the dollar. The partially convertible rupee was hovering at 83.1250, compared with its close of 83.1900 during the previous trading session.

MCX Gold futures for 5 October 2023 settlement advanced 0.57% to Rs 57,455.

The US Dollar index (DXY), which tracks the greenback's value against a basket of currencies, was down 0.17% to 106.04.

The United States 10-year bond yield was flat at 4.602.

Global markets:

Asian stocks were trading mixed as worries over elevated interest rates dragged on sentiment. The Chinese markets were closed for a holiday and are on a break next week.

US stocks rallied on Thursday, with investors closely monitoring developments in Washington regarding a potential government shutdown. Lawmaker negotiations on a U.S. spending bill continue before a October 1 shutdown deadline for the government. Investors will now switch their attention to U.S. personal consumption expenditures price index later on Friday for the latest view on inflation.

The real gross domestic product (GDP) of the United States expanded at an annual rate of 2.1% in the second quarter, the US Bureau of Economic Analysis' (BEA) final estimate showed on Thursday, 28 September 2023. The update primarily reflected a downward revision to consumer spending that was partly offset by upward revisions to nonresidential fixed investment, exports, and inventory investment, the BEA said.

Street Investment

The domestic barometers pared most of the losses but traded with minor cuts in mid-morning trade. The Nifty traded below the 19,650 mark. Media shares edged lower for the third consecutive trading session.

The barometer index, the S&P BSE Sensex, was down 176.85 points or 0.27% to 65,768.62. The Nifty 50 index shed 43.10 points or 0.22% to 19,621.60.

In the broader market, the S&P BSE Mid-Cap index added 0.40% while the S&P BSE Small-Cap index rose 0.42%.

The market breadth was positive. On the BSE, 1,720 shares rose and 1,678 shares fell. A total of 179 shares were unchanged.

IPO Update:

The initial public offer (IPO) of JSW Infrastructure received bids for 54.36 crore shares as against 13.62 crore shares on offer, according to stock exchange data at 11:33 IST on Wednesday (27 September 2023). The issue was subscribed 3.99 times.

The issue opened for bidding on Monday (25 September 2023) and it will close on Wednesday (27 September 2023). The price band of the IPO is fixed at Rs 113-119 per share. An investor can bid for a minimum of 126 equity shares and in multiples thereof.

The initial public offer (IPO) of Updater Services received bids for 32.99 lakh shares as against 1.19 crore shares on offer, according to stock exchange data at 11:33 IST on Wednesday (27 September 2023). The issue was subscribed 0.27 times.

The issue opened for bidding on Monday (25 September 2023) and it will close on Wednesday (27 September 2023). The price band of the IPO is fixed at Rs 280-300 per share. An investor can bid for a minimum of 50 equity shares and in multiples thereof.

Buzzing Index:

The Nifty Media index fell 0.79% to 2,237.85. The index declined 2.36% in three trading sessions.

Nazara Technologies Ltd (down 1.57%), Zee Entertainment Enterprises Ltd (down 1.37%), TV18 Broadcast Ltd (down 1.02%), Network 18 Media & Investments Ltd (down 0.78%), Hathway Cable & Datacom Ltd (down 0.74%), Sun TV Network Ltd (down 0.72%), Navneet Education Ltd (down 0.32%), PVR Inox Ltd (down 0.09%) slipped.

On the other hand, New Delhi Television Ltd (up 0.54%) ,Dish TV India Ltd (up 0.54%) edged higher.

Stocks in Spotlight:

Century Textiles & Industries added 1.69% after the company informed that Birla Estates has successfully sold out phase 1 of Birla Trimaya within 36 hours of its launch.

NTPC declined 0.54%. The state-run power major announced that it declared commercial operation at unit-1 of the Telangana Super Thermal Power Project (STPP).

Procter & Gamble Health rose 0.61%. The company said that it will discontinue the production of injections at its manufacturing plant in Goa effective from 30 September 2023.

Global Markets:

Asian stocks traded mixed ahead of China's industrial data and Australia's August inflation figures due on Wednesday.

Japan's central bank board was split over when should the Bank of Japan should start to raise interest rates, according to minutes from its monetary policy meeting in July.

US stocks saw a sell off on Tuesday after the latest home sales and consumer confidence reports stoked concern over the state of the U.S. economy,

August new home sales were down 8.7% from July, according to the Commerce Department. The Conference Board's consumer confidence index fell to 103 in September from 108.7 in August.

Street Investment

The key equity benchmarks continued to trade near the flat line with some positive bias in mid-morning trade. The Nifty traded above the 19,650 mark. Auto shares gained after declining in the past trading session.

The barometer index, the S&P BSE Sensex, was up 11.90 points or 0.02% to 66,035.59. The Nifty 50 index added 9.85 points or 0.05% to 19,684.40.

In the broader market, the S&P BSE Mid-Cap index gained 0.26% while the S&P BSE Small-Cap index rose 0.54%.

The market breadth was positive. On the BSE, 2,045 shares rose and 1,398 shares fell. A total of 154 shares were unchanged.

IPO Update:

The initial public offer (IPO) of Manoj Vaibhav Gems N Jewellers received bids for 79.52 lakh shares as against 91.20 lakh shares on offer, according to stock exchange data at 11:27 IST on Tuesday (26 September 2023). The issue was subscribed 0.87 times.

The issue opened for bidding on Friday (22 September 2023) and it will close on Tuesday (26 September 2023). The price band of the IPO is fixed at Rs 204-215 per share. An investor can bid for a minimum of 69 equity shares and in multiples thereof.

The initial public offer (IPO) of JSW Infrastructure received bids for 10.28 crore shares as against 13.62 crore shares on offer, according to stock exchange data at 11:27 IST on Tuesday (26 September 2023). The issue was subscribed 0.75 times.

The initial public offer (IPO) of Updater Services received bids for 5.68 lakh shares as against 1.19 crore shares on offer, according to stock exchange data at 11:30 IST on Tuesday (26 September 2023). The issue was subscribed 0.09 times.

Buzzing Index:

The Nifty Auto index rose 0.55% to 16,311. The index had declined 0.08% in the past trading session

Eicher Motors Ltd (up 2.9%), Sona BLW Precision Forgings Ltd (up 2.02%), TVS Motor Company Ltd (up 1.64%), Bajaj Auto Ltd (up 1.37%), Hero MotoCorp Ltd (up 1.25%), Tata Motors Ltd (up 0.82%), Samvardhana Motherson International Ltd (up 0.72%), Mahindra & Mahindra Ltd (up 0.14%), Bharat Forge Ltd (up 0.1%) advanced.

On the other hand, Ashok Leyland Ltd (down 1.34%), Tube Investments of India Ltd (down 0.41%) and Maruti Suzuki India Ltd (down 0.36%) edged lower.

Stocks in Spotlight:

Welspun Corp added 2.08% after the company's wholly owned subsidiary, Sintex BAPL has entered into Memorandum of Understanding (MoU) with the Telangana government to set up a manufacturing unit with upto Rs 350 crore investment.

Wipro rose 0.02%. The company sold a 14.02-acre land parcel and building in Chennai to Casagrand Bizpark for Rs 266.38 crore.

HDFC Asset Management Company (HDFC AMC) advanced 1.28%. The company will invest Rs 25 crore in unit HDFC AMC International to help it meet the net worth requirements prescribed for Registered Fund Management Entity (Retail) under IFSC rules.

Global Markets:

Most of the Asian stocks declined on Tuesday due to concerns over higher U.S. interest rates, particularly impacting the technology sector. Investors remained cautious about regional markets due to ongoing worries about a slowdown in the Chinese economy.

The US Federal Reserve's hawkish signals, indicating potential further rate hikes this year and a prolonged period of higher rates, added to the negative sentiment.

Despite this, U.S. stocks managed to make modest gains on Monday, supported by a rise in tech stocks driven by Amazon and an increase in energy stocks. The S&P 500, Dow Jones Industrial Average, and Nasdaq all saw slight increases. However, worries about a potential U.S. government shutdown grew as Congress has yet to pass necessary spending bills to fund the government beyond 1st October.

Street Investment

The key equity indices traded with minor losses in morning trade. The Nifty slipped below the 19,650 mark. IT stocks declined for the fifth consecutive trading session.

The barometer index, the S&P BSE Sensex, was down 174.53 points or 0.26% to 65,834.62. The Nifty 50 index shed 50.60 points or 0.26% to 19,623.65.

In the broader market, the S&P BSE Mid-Cap index lost 0.47% while the S&P BSE Small-Cap index rose 0.08%.

The market breadth was positive. On the BSE, 1,765 shares rose and 1,628 shares fell. A total of 213 shares were unchanged.

Buzzing Index:

The Nifty PSU Bank index fell 0.78% to 5,174.25. The index rose 3.51% in the past trading session.

Central Bank of India (down 2.95%), UCO Bank (down 2.67%), Bank of Maharashtra (down 2.67%), Punjab & Sind Bank (down 2.27%), Canara Bank (down 2.17%), Indian Overseas Bank (down 2.17%), Bank of India (down 1.47%), Punjab National Bank (down 1.1%), State Bank of India (down 1.06%) and Union Bank of India (down 0.93%) declined.

Buzzing Index:

The Nifty IT index fell 0.94% to 32,595.70. The index declined 2.28% in five trading sessions.

LTIMindtree (down 1.18%), Infosys (down 1.09%), Persistent Systems (down 0.89%), Wipro (down 0.87%), HCL Technologies (down 0.84%), Tata Consultancy Services (down 0.72%), Coforge (down 0.37%) and Tech Mahindra (down 0.03%) edged lower.

On the other hand, L&T Technology Services (up 0.69%), Mphasis (up 0.34%) advanced.

Stocks in Spotlight:

Life Insurance Corporation of India declined 0.38%. The state-run life insurer announced that it has received an order from Bihar Additional Commissioner State Tax demanding Rs 290 crore in goods and service tax (GST), along with interest and penalty. The life insurer said that it will file an appeal before the GST Appellate Tribunal and against the order within prescribed timelines.

Religare Enterprises fell 4.59% after the the Burman family, which holds a controlling stake in Dabur, on Monday (25 September) announced an open offer for a 26% stake in Religare Enterprises for upto Rs 2,116 crore.

Strides Pharma Science rallied 5.99% after the company's wholly owned subsidiary, Strides Pharma Global, Singapore has received US Food and Drug Administration (USFDA) approval for Icosapent Ethyl Capsules 0.5 gram and 1 gram.

KFin Technologies added 1.19% after the company announced that a meeting of its board is scheduled to be held on Wednesday, September 27, 2023, to consider and approve buyback of non-convertible redeemable preference shares of the company.

Karnataka Bank rose 2.61% after the bank announced that its board has approved raising capital up to Rs 1,500 crore, in one or more tranches by way to preferential issue / rights issue / QIP or any other permissible mode.

Sterling and Wilson Renewable Energy declined 0.06%. The company announced that its board will meet on Wednesday, 27 September 2023 to consider raising of funds via non-convertible debt instruments or equity shares.

Vaibhav Global rose 2.01% after the company's wholly owned subsidiary, Shop TJC (UK) has executed an asset sale agreement with Ideal World to acquire its assets.

Global Markets:

Asian stocks were trading mixed as investors look toward inflation data from across the region this week. Singapore and Australia are expected to report inflation figures for August this week, while Japan will release inflation data for the Tokyo region.

US stocks ended lower on Friday as investors continued to grapple with signals from the Federal Reserve that it intended to keep interest rates higher for longer.