Nuvama Wealth Management Ltd. Share Price

MCX the September rollout of FPI access commodity segments.

will observe a partial closure today (Ganesh Chaturthi): the morning session (9 am–5 pm) is closed, while the evening session (5 pm–11:30/11:55 pm) will operate as usual; NCDEX, by contrast, is closed for the full day. On the corporate front, MCX has scheduled a string of analyst/investor meetings in mid‑September, including virtual sessions with Ninety One and RatnaTraya Capital on September 18, and an in‑person meet with Nuvama in Mumbai on September 4. Strategically, Foreign Portfolio Investors (FPIs) will be allowed to trade gold, silver and non‑agricultural commodities on MCX from September 2026, a move expected to deepen liquidity and broaden participation. MCX shares closed at ₹3,276 on September 11 (down 0.73%), with a market capitalisation around ₹83,535 crore; the company also invested ₹9.20 crore in India International Bullion Holding IFSC Ltd via a rights issue, with the transaction completed and filed on September 10.

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Rising Crude and Bond Yields Trigger FPI Selling

Foreign investors have turned sellers again after nearly two months of buying, and for me, the important part is understanding what has changed globally rather than looking at the $1.6 billion selling figure alone. FPIs sold nearly $1.6 billion worth of Indian equities in five of the past six trading sessions after investing around $6.85 billion between mid-June and late August. The reversal has come alongside a sharp rise in crude oil prices and higher global bond yields. Crude is particularly important for India because we are a major oil importer. Higher oil prices can increase the import bill, put pressure on the rupee and add to inflation. At the same time, rising bond yields make developed-market fixed-income investments more attractive, which can reduce foreign investors’ appetite for emerging-market equities. Brent crude has now moved close to $100 per barrel. Another point that caught my attention is where global money is moving. Some foreign funds are rotating towards AI and technology themes in markets such as the US, Taiwan and South Korea. Strong activity in India’s primary market and upcoming large IPOs can also compete with secondary-market stocks for foreign capital. I would not consider a few sessions of FPI selling a trend by itself. What I would track from here is whether crude remains elevated, global yields continue rising and FPI outflows persist. If all three continue together, volatility in Indian equities could remain elevated. Learning Outcome: FPI flows are influenced by relative opportunities across global markets. Crude oil, bond yields, currency movements and valuations can collectively determine whether foreign capital moves into or out of Indian equities.

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Stocks to BUY, SELL or HOLD Today: Hindustan Unilever,

Stocks to BUY, SELL or HOLD Today, September 7: Indian equities are likely to witness a cautious start on Monday, with a slew of brokerage calls putting several stocks in focus. Brokerages remain bullish on Hindustan Unilever, with Nuvama, Jefferies, MOFSL and

Goldman Sachs retaining ‘BUY’ ratings, while Elara Capital reiterated ‘ACCUMULATE’. Fortis Healthcare and LG Electronics also received positive calls, while Goldman Sachs maintained ‘BUY’ ratings on ICICI Bank and TBO Tek. Goldman Sachs retained a ‘NEUTRAL’ stance on LTIMindtree, while HDFC Securities maintained a ‘REDUCE’ rating on Hindustan Unilever. Hindustan Unilever: Brokerages have retained their bullish stance on Hindustan Unilever (HUL). Nuvama has maintained a BUY rating on the stock with a target price (TP) of Rs 2,820. Jefferies has also retained its BUY rating, with a target price of Rs 2,450, against the earlier target of Rs 2,850, implying a 25 per cent upside.

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RIL & India’s Refining Story: Who Could Benefit

When refining margins strengthen, investors should study earnings sensitivity, business mix, taxation, and sector-wide beneficiaries before drawing conclusions. Imagine the global oil market as a giant highway. When geopolitical disruptions remove refining capacity from the road, fewer refineries are available to process crude. Supply tightens, fuel cracks can strengthen—and refiners with suitable capacity may see better economics. That is the story currently attracting attention around Reliance Industries (RIL) RIL shares rose more than 2% on September 4 after Nuvama highlighted strong O2C conditions and maintained its positive view. The brokerage estimated RIL’s Q2 O2C EBITDA could rise 21% YoY, supported by strong gasoil and ATF crack spreads But here is the important learning point: **one company’s catalyst can become an entire sector’s research theme.** ### 🔎 Nifty 500 stocks to study • **

** — integrated O2C + digital + retail + new energy exposure • **Indian Oil Corporation** — refining and marketing exposure • **Bharat Petroleum Corporation** — refining and fuel-marketing exposure • **Hindustan Petroleum Corporation** — refining and marketing exposure These names should **not automatically be treated as beneficiaries or buy candidates**. Each company has different refining complexity, margins, inventory effects, crude exposure, debt, marketing economics and valuation. Study the chain: **geopolitics → refining capacity → crack spreads → refining margins → EBITDA → earnings → valuation.** ⚠️ **Educational purpose only. This is not investment advice, a recommendation, or a solicitation to buy/sell securities. Conduct independent research and consult a SEBI-registered investment professional before making investment decisions.**

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Weekly Market Wrap: Volatility Dominates

Indian markets ended the week on a relatively positive note after sharp volatility, with the Sensex gaining around 360 points in the final session and Nifty recovering towards 23,900. However, the broader weekly trend remained weak as geopolitical tensions, rising crude prices and global uncertainty kept investors cautious. Key Market Data • Rupee strengthened from ₹95.16 to ₹94.49/$ • Brent Crude Oil gained around 7.44% • Gold declined around 0.68% • Nifty: -1.15% • Bank Nifty: -0.22% • Auto: -3.95% • IT: -1.88% • PSU Bank: -1.04% • Metal: -1.54% • Media: -2.34% • Realty: -0.10% Markets remained under pressure as US–Iran tensions pushed crude prices higher, raising concerns over India's inflation and import costs. Rising global bond yields and uncertainty regarding US rate cuts also affected sentiment. Auto, IT and Media stocks remained weak, while selective Financial and heavyweight buying supported the late recovery. Stock Movers Reliance Industries: Reliance gained over 2% in a single session with strong volumes of around 63 lakh shares. As a key index heavyweight, sustained momentum in the stock could provide further support to Nifty.

, Angel One & Nuvama : Capital market intermediaries are likely to remain volatile amid high market activity and concerns surrounding SEBI's proposed closing-auction framework, which could impact transaction-fee revenue expectations. Outlook | 7–11 September US jobs data, Brent crude movement, FII/DII flows and geopolitical developments will remain key triggers. Technically, Nifty continues to trade below important short- and long-term EMAs, keeping the broader bias cautious. Immediate support is placed at 23,830–23,850, while 24,000–24,200 remains the crucial resistance zone. A sustained breakout above 24,200 could strengthen recovery momentum, while a break below 23,830 may trigger renewed profit booking.

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Sterlite Technologies in Focus After Nuvama Raises Target

Nuvama View Rating: BUY maintained. Target Price: Raised to ₹1,100 from ₹770. FY29 Revenue Target: ₹200 billion, more than 4× FY26 revenue. EBITDA Margin Target: 27%+, supported by better product mix and operating leverage. Order Book: More than $2 billion, providing strong revenue visibility. Capex: Around ₹10 billion annually, aimed at increasing capacity by 50% by FY29. AI and data-centre expansion is expected to drive optical fibre demand beyond traditional telecom. Higher-value solutions are targeted to achieve 25%+ attach rate by Q4FY27. Nuvama has raised its FY27/FY28 EBITDA estimates by 22%/38%. Revenue estimates have been increased by 11%/27%, while profit estimates are up 29%/40%. Growth Drivers: Order execution and strong order-book visibility. Capacity expansion and higher utilisation. Improving product mix and operating leverage. Growing optical fibre demand from AI and data centres. Increasing contribution from higher-value solutions. Disclaimer: This content is for educational and informational purposes only and should not be considered investment advice or a recommendation to buy or sell any security.

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