Nifty hovers around 8750, Midcap outperforms; MCX most active

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MCX is the most active stock on exchanges, followed by Narayana Hrudayalaya, REC, Alphageo, HDFC Bank, Reliance Industries, Axis Bank, ICICI Bank and Yes Bank.

Market Update: Equity benchmarks remained marginally higher amid volatility. The BSE Sensex was up 53.59 points at 28347.87 and the NSE Nifty up 17.85 points at 8740.90. About 1433 shares advanced against 1025 declining shares on the BSE.

Buzzing: Mukta Arts shares are locked at 20 percent upper circuit after the company said a meeting of the board of directors would be held on September 29 to consider and approve the transfer of entire business of cinema division as a going concern to its newly formed wholly owned subsidiary i.e., Mukta A2 Cinemas Limited in terms of a slump sale.

Europe opens: European stocks opened higher as global investors reacted to the first US presidential candidate debate and oil market news.

Global markets will be reacting to the first televised debate between US presidential nominees Hillary Clinton and Donald Trump on Monday night. Clinton appeared to have edged out her Republican opponent based on analysts’ take on the initial market reaction.

Shareholders approval: The minority shareholders of Max Life Insurance have given a green nod for payment non-compete fee to its promoters.
Analjit Singh and family will get Rs 850 crore as the non-compete fee over four years.
In the company’s Annual General Meet (AGM) on Monday, 65 percent of minority shareholders approved it. The shareholders include names like KKR, Goldman Sachs and Kotak.
While the numerical numbers have won, corporate governance has failed, says Anil Singhvi, Chairman of ICan Investment Advisors. Private equity players usually prefer the promoters.

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