Inventory Market LIVE: Sensex good points 350 pts; Nifty 100; M&M, Bajaj twins up

Billionaire Adani plans to double cement capability after closing Ambuja, ACC acquisitions

Adani Group, helmed by Asia’s richest man, plans to double annual cement making capability by 2027 after closing the acquisition of Holcim Ltd.’s Indian belongings, a deal that’s made the conglomerate the South Asian nation’s second-largest producer of the development materials.

“We anticipate going from the present 70 million tons capability to 140 million tons within the subsequent 5 years,” Chairman Gautam Adani stated at an occasion Saturday that was later uploaded on YouTube on Monday. The tycoon stated India’s per capita consumption of cement was nearly seven occasions under that of China, giving the nation ample area for growth.

After taking on Ambuja Cements Ltd. and ACC Ltd. from Holcim in Might, Adani — who surpassed Jeff Bezos to turn out to be the world’s second-richest particular person over the weekend — anticipates that Indian authorities initiatives to spur infrastructure development will gasoline main demand for cement. His ports-to-power conglomerate usually aligns with Indian Prime Minister Narendra Modi’s nation-building priorities and has been diversifying quickly past its coal-based empire into inexperienced power, information facilities and digital companies. (Bloomberg)

Oil dips on recession fears; provide issues restrict declines

Oil costs dipped on Monday as fears of a world recession prompted issues that gasoline demand development will sluggish, although provide worries forward of the European Union embargo on Russian oil in December restricted declines.

Brent crude futures for November settlement fell 46 cents, or 0.5%, to $90.89 a barrel by 0701 GMT.

U.S. West Texas Intermediate (WTI) crude futures for October supply was at $84.46 a barrel, down 65 cents, or 0.8%. The October WTI contract expires on Tuesday and the extra lively November contract as at $84.12, down 64 cents. (Reuters)

Morgan Stanley’s warning: Shares 12-year TINA benefit might be ending

For final 12 years, equities globally had two main tailwinds: A pleasant Fed and a few variation of ‘TINA’ (There Is No Different) theme enjoying out. However now these benefits of shares might be ending, in accordance with Morgan Stanley’s strategist Andrew Sheets.

“For a lot of the final 12 years, it was frequent to listen to some variation of ‘TINA’ (There Is No Different), the concept one wanted to be lengthy shares and bonds as a result of money supplied so little. Low yields weren’t the first cause why shares rallied over that point; world equities and world fairness earnings merely rose by the identical quantity (100%). However was TINA a useful psychological crutch for markets, particularly in occasions of stress? Completely,” he stated in a observe. (Full Story)

Adani-led Ambuja Cements rallies 8.5%; wealthy valuation a celebration pooper

Shares of Ambuja Cements Ltd have been on a roll the previous couple of buying and selling periods. Persevering with their upswing, shares of the cement producer rallied 8.5% in early offers on Monday to hit a brand new 52-week excessive of ₹568 apiece on the Nationwide Inventory Trade. With that, the inventory has breached its earlier excessive seen on 16 September. Each Ambuja and ACC Ltd have been within the limelight after Holciminked a pact with the Adani Group, earlier this yr, to promote its stake in these. (Full Story)

Midday Replace: Indices in purple with Sensex above 59,000 and Nifty 17,600 factors. PSU Financial institution index shines whereas Realty is beneath stress

Govt kickstarts sale course of of two subsidiaries of erstwhile nationwide provider Air India

The federal government has initiated the method of privatising 2 subsidiaries — AIASL and AIESL — of erstwhile nationwide provider Air India, an official stated.

“The Division of Funding and Public Asset Administration (DIPAM) has initiated investor conferences and roadshows to gauge curiosity in AIASL and AIESL. We’ll quickly invite EoIs from bidders,” the official stated.

A debt-laden Air India was bought to Tata Group in October final yr for ₹18,000 crore. The precise handover to Tatas occurred on January 27, 2022.

Nonetheless, 4 Air India subsidiaries — Air India Airport Companies Ltd (AIASL), Air India Engineering Companies Ltd (AIESL), Alliance Air Aviation Ltd (AAAL), and Lodge Company of India Ltd (HCI) — and different non-core belongings, portray and artefacts, in addition to, non-operational belongings weren’t a part of the deal. (PTI)

Adani Energy’s delisting proposal withdrawn by promoter entity Adani Properties

Adani Energy on Saturday knowledgeable in an trade submitting that its promoter entity Adani Properties has withdrawn a proposal to delist the corporate on account of non-receipt of in-principle approval of inventory exchanges and it has acquired a letter from a member of the promoter group in search of withdrawal of delisting supply.

“The Firm (Adani Energy) has acquired a letter dated September 17, 2022 (the “Delisting Withdrawal Letter”) from Adani Properties Personal Restricted (“APPL”), a member of the promoter and promoter group of the Firm (“Promoter Group”), relating to the withdrawal of the delisting supply dated Might 29, 2020 and the proposal to voluntarily delist the fairness shares of the Firm from the BSE Restricted and the Nationwide Inventory Trade of India Ltd,” the corporate introduced in a BSE submitting. (Full Story)

Asian Paints beneath stress in at the moment’s session, down 1.5%

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INDIA RUPEE-Rupee nudges increased on RBI’s name to battle inflation; Fed eyed

The Indian rupee firmed on Monday after the Reserve Financial institution of India vowed to front-load price hikes to tame stubbornly excessive inflation, however danger aversion in broader markets saved a lid on strong good points.

The rupee edged up 0.12% to 79.6450 per U.S. greenback by 0433 GMT, in comparison with its earlier shut of 79.740. The foreign money had hovered near 79 ranges final week earlier than settling again in its latest buying and selling vary.

It looks like the RBI would proceed on a rate-hike spree because it has hinted inflation is its main goal and this would possibly assist the rupee momentarily, however exterior components are additionally of significance this week, a overseas trade dealer stated.

There may be danger aversion globally, so the rupee might stay range-bound, he added. (Reuters)

Coal Ministry to begin e-auction of 10 industrial coal mines from at the moment

The Ministry of Coal had invited bids for coal mines for industrial coal mining. Technical analysis of bids has been accomplished and ahead e-auction for 10 coal mines will likely be launched at the moment.

E-auction for eight coal mines will likely be performed on thirteenth September and for 2 coal mines on 14th September, 2022. Whole peak price capability (PRC) of the mines being put up for e-auction is 39.31 million ton each year. (Full Story)

SoftBank-backed Oyo seeks to resurrect IPO after development resumes

Oyo Inns, the as soon as high-flying Indian startup, is reviving plans for a stock-market debut after price cuts and a restoration in journey helped it scale back losses.

The hotel-booking firm filed recent monetary paperwork on Monday and is now focusing on an preliminary public providing in early 2023 supplied that India’s inventory market continues to carry up and financial circumstances enhance, in accordance with folks accustomed to the matter. Oyo, formally often called Oravel Stays Ltd., is internally working towards a January IPO as executives are inspired by a pick-up in demand, they stated, asking to not be named discussing confidential plans.

Oyo had filed preliminary IPO paperwork in 2021, solely to shelve the itemizing plan earlier this yr after the extended pandemic damage its development and compelled the corporate to chop 1000’s of jobs. It disclosed its newest financials in an IPO submitting addendum on Monday, with the numbers exhibiting narrower losses and a rebound in gross sales for the yr via March 2022 and the next three months. (Bloomberg)

Adani Ports shines in at the moment’s session, good points 3% 

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Angel One on at the moment’s market: One ought to keep away from buying and selling aggressively until the time market stabilizes from this turbulence.

Sameet Chavan, chief analyst-technical and derivatives, Angel One Ltd: Friday’s session turned out to be a nightmare as after a niche down opening, we witnessed sustained promoting all through the session to conclude the week with a 1.70% minimize, marginally above 17500.

Usually, we are saying ‘All’s properly that ends properly however this time it’s the precise reverse. We had an ideal begin to the week, however the finish was definitely not what everybody would have wished for. The broader construction stays bullish however with Nifty closing convincingly under 17600 has dented the intermediate construction for positive. Pricewise, it resembles a ‘Head and Shoulder’ sample on the each day time-frame chart, which doesn’t augur properly for the bulls. If this sample proves its significance, we may even see an extra correction in the direction of 17200 – 17000 this week. However as of now, we don’t need to fall into this camp. We’d slightly reassess the scenario within the first half of this week. So far as help is anxious, 17400 we’re seeing as key help. The second we see the Nifty sliding under it, we may even see a correction getting prolonged available in the market. On the flip aspect, if Nifty has to search out its mojo again, it must transcend Friday’s excessive of 17820 on a closing foundation. So in the meantime, any minor bounce again in the direction of 17650 – 17750 ought to ideally be used to exit longs.

After Friday’s shut, we wish to undertake a wait-and-watch method, and let’s see how the worldwide market performs from hereon. Merchants are suggested to not get intimidated by Friday’s correction, however slightly hold a detailed tab on the above-mentioned situations. Additionally, one ought to keep away from buying and selling aggressively until the time market stabilizes from this turbulence. Sectorally, the latest chief, BANKNIFTY is positioned at an attention-grabbing juncture. Hopefully, it manages to carry the general sentiments this week

Multibagger small-cap Tata inventory hits file excessive on fifth day in a row. Do you personal?

Multibagger inventory: TRF shares have hit a recent excessive in early morning offers inside a couple of minutes of inventory market opening on Monday. TRF share worth at the moment opened with an upside hole and hit 10% higher circuit on the fifth straight session and climbed to a recent lifetime excessive of ₹324.35 apiece on NSE. Apparently, this Tata group inventory has been hitting each higher circuit and recent lifetime excessive collectively for the final 5 successive periods, delivering round 60 per cent return to its shareholders within the final 5 periods. (Full Story)

After ₹30 particular dividend, pharma inventory trades ex-dividend

Shares of Pfizer Ltd plunged practically 2% to ₹4,129 apiece on the BSE in Monday’s opening offers because the inventory began buying and selling ex-dividend, a day forward of the file date for its interim particular dividend of ₹30 for the monetary yr ending 2023 that the corporate had introduced earlier this month.

“The board of administrators at its assembly held on September 6, 2022 has declared an Interim (Particular) Dividend of ₹30/- per fairness share of Rs. 10/- every (300%) for the monetary yr ending March 31, 2023, in view of the acquire on account of sale of Upjohn Enterprise to Mylan Prescribed drugs Personal Restricted,” Pfizer had knowledgeable in an trade submitting on September 6, 2022. (Full Story)

Angel One each day commodity outlook for 19/09: Gold, Crude, Base Metallic

Prathamesh Mallya, AVP- analysis, non-agri commodities, and currencies, Angel One Ltd outlook on:

Gold: We count on gold to commerce decrease in the direction of 48940 ranges, a break of which may immediate the worth to maneuver decrease to 48520 ranges.

Crude: We count on crude to commerce decrease in the direction of 6700 ranges, a break of which may immediate the worth to maneuver decrease to 6560 ranges.

Base Metallic: We count on copper to commerce decrease in the direction of 643 ranges, a break of which may immediate the worth to maneuver decrease to 633 ranges.

PSU Financial institution index jumps in early buying and selling, provides 2%. All shares in inexperienced

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Bajaj Finance shares: Why Jefferies has raised goal worth on the inventory

Bajaj Finance has a shot at being first NBFC to launch bank card, if RBI approves, as per world brokerage Jefferies, which might allow BAF to take product to deeper markets as in opposition to the Prime-100 cities the place it sells playing cards of RBL Financial institution/ DBS Financial institution and the place majority of gamers function. Bajaj Finance has a shot at being first NBFC to launch bank card, if RBI approves, as per Jefferies. (Learn Extra)

Nationwide Logistics Coverage to spice up ease of doing enterprise for industries: Gadkari

Union minister Nitin Gadkari on Saturday stated that the Nationwide Logistics Coverage which focuses on re-engineering, digitisation and multimodal transport, would additional enhance ‘ease of doing enterprise’ for all industries and stakeholders.

The highway transport and highways minister in a tweet additional stated the coverage will fully change India’s logistics sector, enhance seamless motion of products and scale back carbon footprints.

Prime Minister Narendra Modi on Saturday unveiled the Nationwide Logistics Coverage that seeks to handle challenges dealing with the transport sector and produce down the logistics price of companies from 13-14 per cent to a single digit.

At a grand launch occasion, Modi stated the coverage goals to expedite the last-mile supply, serving to companies save money and time. (PTI)

Ultratech Cement drags in early buying and selling, sheds round 2.5% 

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Gold costs in India fall to close 6-month low

Gold costs in India prolonged losses of final week once they fell 0.3% in futures market at the moment morning. On MCX, gold futures had been down 0.3% to close six-month low of ₹49,237 per 10 gram. The yellow metallic had fallen sharply within the earlier week, weighed by good points in greenback index and agency US bond yields. Final week’s sizzling US inflation information, mixed with a robust labor market and retail gross sales numbers, prompted some analysts to foretell a full share level hike by the Fed later this week. In home markets, gold slumped 3% or about ₹1,500 final week. (Learn Extra)

Indices opened within the flat-to-red zone with Asian Paints and Ultratech Cement dropping in early buying and selling

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Bull vs bear: Vijay Kedia on when retail buyers ought to have a look at snapping up shares

After the massacre on Dalal Road on Friday, inventory market buyers are beneath panic as to when this sell-off will finish and at what ranges, this bear market will make its backside. Nonetheless, ace investor Vijay Kedia is least bothered by such a fall within the markets. He believes that such a fall in Indian shares is a giant alternative for a long-term positional investor. In an unique dialog with Livemint, Vijay Kedia stated that ‘a bear market creates good buyers’ because it offers an investor to develop artwork to search out alternatives throughout worry.

Vijay Kedia advised Livemint {that a} bull market creates many self-acclaimed genius however in actuality, an actual inventory market genius are born in a bear market. (Full story)

Sensex pre-opens in purple, down 300 factors; ACC, Ambuja Cements, Adani Energy, HDFC Life in focus

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Ashika Inventory Broking view on market: Keep away from buying and selling aggressively amid world nervousness.

Tirthankar Das, technical & spinoff analyst, retail, Ashika Inventory Broking Ltd: On the technical entrance, Nifty fashioned an extended unfavorable candle on the each day chart, resembling nearer to a darkish cloud cowl which has a bearish implication and indicating of additional weak point forward. On the oscillator entrance, the 14-period RSI has witnessed a promote crossover and presently buying and selling under the 60-level mark and turned flattish indicating of sluggish momentum for the brief to medium time period. Thus, one must keep away from buying and selling aggressively amid world nervousness. Contemplating the current scenario, a naked minimal correction of 23.6% of the complete rally from 15,183 to 18,096 comes round 17415 adopted by 38.2% correction at 16990. Nonetheless, on the medium-term perspective worth construction signifies of continuance of optimistic bias and our home Index is more likely to head in the direction of 18,300 in close to time period as it’s the swing excessive of January 2022. Nifty additionally registered a bullish golden crossover in August (50-DEMA crossing above 200-DEMA) implying main shift of momentum from a medium-term perspective. In the course of the day index is more likely to open on a flat to unfavorable observe monitoring weak world cues. Nonetheless, the index is predicted to rebound put up preliminary blip as robust intraday help positioned at 17400-17450. Therefore, use intraday dip for creating lengthy place for the goal of 17865-17900

Reliance Securities Inventory in Focus for Monday: EPL

STOCK IN FOCUS

EPL (CMP Rs.171)

In view of the improved stability sheet and better return ratios, we’ve got a BUY score on EPL, with a 1-year Goal Value of Rs220, valuing the inventory at a PE a number of of 20x on FY24E EPS.

Intraday Picks

MFSL (PREVIOUS CLOSE: 823) BUY

For at the moment’s commerce, lengthy place could be initiated within the vary of Rs821- 815 for the goal of Rs854 with a strict cease lack of Rs802.

PIIND (PREVIOUS CLOSE: 3,136) SELL

For at the moment’s commerce, brief place could be initiated within the vary of Rs3,215-3,230 for the goal of Rs3,060 with a strict cease lack of Rs3,310.

CIPLA (PREVIOUS CLOSE: 1,044) SELL

For at the moment’s commerce, brief place could be initiated within the vary of Rs1,054- 1,059 for the goal of Rs1,026 with a strict cease lack of Rs1,069.

FM Sitharaman to satisfy CEOs of PSBs to overview schemes’ progress for SCs in Sept-end

Union Finance Minister Nirmala Sitharaman is all set to satisfy the heads of public sector banks and monetary establishments by the top of September to overview progress of assorted authorities schemes geared toward welfare and upliftment of scheduled castes. In accordance with the small print, schemes like Stand-Up India, Pradhan Mantri Mudra Yojana (PMMY), and Credit score Enhancement Assure Scheme for Scheduled Castes (SCs) and their progress can be mentioned. (Full Story)

Shares to Watch: ACC, Ambuja Cements, HDFC Life, Hero MotoCorp, REC, ONGC, Sure Financial institution, Adani Energy, Maruti Suzuki, and SBI

RBL Financial institution, PVR, India Cements and Indiabulls Housing Finance Ltd are put beneath the F&O ban record for Monday. These shares will likely be beneath the ban for the F&O phase as they’ve crossed 95% of the market-wide place restrict (MWPL), as per the NSE. (Full Story)

ONGC needs govt to scrap windfall tax, USD 10 gasoline worth

India’s high oil and gasoline producer ONGC needs the federal government to scrap windfall revenue tax levied on domestically produced crude oil and as an alternative use the dividend path to faucet into bumper earnings ensuing from surge in world power costs.

The agency additionally favours a ground worth for pure gasoline at USD 10 per million British thermal unit — the present government-dictated price — to assist deliver deposits in difficult areas to manufacturing, two sources conscious of the matter stated.

State-owned Oil and Pure Gasoline Company (ONGC) administration throughout discussions with authorities officers said that levying windfall revenue tax on home oil producers, whereas on the similar time reaping wealthy financial savings from shopping for discounted oil from Russia was unfair. (PTI)

DPIIT engaged on legislation to decriminalise completely different provisions associated to minor offences

The commerce and trade ministry is framing a legislation to decriminalise all provisions associated to minor offences with an purpose to advertise ease of doing enterprise within the nation, a senior official stated.

Work is at a complicated stage for framing the convenience of doing enterprise and ease of dwelling invoice and the ministry is focusing on to introduce it within the winter session of parliament, the official stated.

“We’re making an Act. We’re bringing one invoice and that one invoice seeks to decriminalise all of the minor offences talked about in numerous Acts. We’re having consultations with all of the departments on the invoice. We’ll deliver a typical Act for decriminalisation. Principally changing imprisonment and advantageous with penalties, and rationalisation. For minor offences, there ought to be no jail. As a substitute, there ought to be a penalty,” the official added. (PTI)

Darling of promoters and FIIs inventory turned ₹1 lakh to ₹58 lakh in 5 years

With a market capitalization of ₹926.39 crore, Ritesh Properties & Industries Ltd. is a small-cap firm that engages in the actual property trade. A well known company having actions in the actual property and trend industries is Ritesh Properties and Industries Ltd. Sanjiv Arora, the agency’s Chairman and Managing Director, is accountable for RPIL, a public restricted firm with its headquarters in Ludhiana and a BSE ticker image of 526407. The shares of Ritesh Properties and Industries Ltd are among the many multibagger shares which have made shareholders lakhpati in a span of 5 years, let’s know-how. (Learn Extra)

Harsha Engineers IPO: Newest GMP, allotment date, the best way to test standing

After closure of three days subscription, all eyes are actually set on the Harsha Engineers IPO allotment date, which is more than likely on twenty first September 2022. Nonetheless, after robust response from buyers, gray market remains to be giving robust alerts in regard to the general public supply value ₹755 crore. In accordance with market observers, shares of Harsha Engineers Worldwide Ltd is offered at a premium of ₹215 in gray market at the moment. (Learn Extra)

Ontario Lecturers’ to purchase 30% in Mahindra‘s renewable arm

Ontario Lecturers’ Pension Plan Board has signed binding agreements with the Mahindra Group to accumulate a 30% stake in renewable power agency Mahindra Susten Pvt. Ltd for an fairness worth of ₹2,371 crore ($300 million).

The Mahindra Group stated the deal additionally envisages the organising of an infrastructure funding belief (InvIT) in compliance with laws of the Securities and Trade Board of India.

The Mahindra Group stated the deal additionally envisages the organising of an infrastructure funding belief (InvIT) in compliance with laws of the Securities and Trade Board of India. (Full Story)

Combined airfare developments after cap removing; air passenger visitors on rise: Consultants

After the removing of airfare caps, there appears to be a combined pattern with decrease ticket costs for routes having comparatively lesser passenger hundreds, in accordance with journey trade consultants.

Greater than two years after being put in place amid the coronavirus pandemic, the fare caps had been eliminated with impact from August 31. The transfer additionally got here in opposition to the backdrop of gradual restoration in home air passenger visitors.

The typical reserving worth has not modified a lot however there appears to be a combined pattern with sure sectors seeing drop in fares whereas some others witnessing an increase, as per the trade gamers. (PTI)

Inox Inexperienced Vitality plans to launch ₹740-cr IPO in subsequent 30-45 days: CEO Kailash Tarachandani

Inox Inexperienced Vitality Companies, a subsidiary of Inox Wind, is planning to return out with its Preliminary Public Providing (IPO) by October this yr to boost ₹740 crore to fund its growth plans.

The corporate will concentrate on the Indian market initially and plans to faucet the abroad market after establishing itself on this nation, Inox Wind Chief Govt Officer (CEO) Kailash Lal Tarachandani advised PTI.

Talking to reporters throughout a go to to its plant in Rajmol, Gujarat, Tarachandani stated the corporate is planning to launch its IPO “within the subsequent 30 to 45 days”.

That is Inox Inexperienced Vitality Companies’ second try and go public. In February, the corporate had filed the Draft Crimson Herring Prospectus (DRHP) for its proposed IPO with the markets regulator Sebi. (PTI)

TCS might enhance dividends to Tata Sons by a 3rd by FY25

Tata Sons Ltd’s reliance on Tata Consultancy Companies Ltd (TCS) to bankroll the group’s deliberate $18 billion annual capital expenditure is predicted to extend over the subsequent 5 years as dividend revenue from the nation’s largest expertise companies firm is estimated to leap by a 3rd by 2025 on the again of bettering free money stream. Elevated revenue from TCS to assist Tata Sons bankroll group’s capital expenditure plans. (Full Story)

Gazprom situation: India received’t search arbitration or penalty

The failure of Russian government-owned Gazprom, the world’s largest explorer of pure gasoline, to honour the phrases of a deal to provide liquefied pure gasoline (LNG) to state-run GAIL (India) Ltd is being handled bilaterally on the highest stage of the Indian authorities, stated two authorities officers conscious of the event. Failure of Gazprom to honour the deal to provide LNG is being handled on the highest stage of presidency. (Full Story)

FPIs infuse ₹12,000 cr in Indian equities in Sep on hopes of sluggish price hikes

International buyers pumped ₹12,000 crore into the Indian fairness market to date this month on hopes that world central banks, notably the US Fed, might go sluggish on price hikes as inflation begins to chill off.

This comes following a web funding of ₹51,200 crore in August and practically ₹5,000 crore in July, information with depositories confirmed.

FPIs turned web patrons in July after 9 straight months of web outflows, which began in October final yr. Between October 2021 until June 2022, they bought a large ₹2.46 lakh crore within the Indian fairness market.

Rupee falls 7 paise to shut at 79.78 in opposition to US greenback on foreign exchange outflows

The rupee declined by 7 paise to shut at 79.78 in opposition to the US greenback on Friday, monitoring a robust greenback in abroad markets and losses in home equities.

On the interbank overseas trade market, the home foreign money opened at 79.80 per greenback. It hovered in a spread of 79.71 to 79.85 through the session.

The home unit lastly settled at 79.78, down 7 paise over its earlier shut of 79.71.

“We count on the rupee to commerce with a unfavorable bias on the robust greenback and danger aversion in world markets. World markets declined after IMF spokesman Gerry Rice flagged issues over additional slowdown within the world financial system and stated that some international locations are anticipated to slide into recession in 2023,” stated Anuj Choudhary, Analysis Analyst at Sharekhan by BNP Paribas. (PTI)

Wall Road falls on Friday as FedEx warning provides to market woes

Wall Road closed out the inventory market’s worst week in three months with extra losses Friday, as a stark warning from FedEx about quickly worsening developments within the financial system rattled already anxious buyers.

The S&P 500 fell 0.7%, with all however two of its 11 firm sectors ending within the purple. The benchmark index sank 4.8% for the week, with a lot of the loss coming from a 4.3% rout on Tuesday following a surprisingly sizzling report on inflation. The final time it posted a much bigger weekly decline was the week ended June 17.

The Dow Jones Industrial Common fell 0.5% and the Nasdaq composite dropped 0.9%. The Russell 2000 index of smaller firms took the heaviest losses, falling 1.5%.

All the key indexes have now posted losses 4 out of the previous 5 weeks.