GIFT Nifty Indicates Muted Opening; Indigo Market Share Rose to 62.4%

BANGALORE, India - Sept. 16, 2024 - PRLog -- Nifty regained its positive momentum last week. On Monday, the index breached its 21-DMA briefly but reclaimed in the same session. The positive momentum was sustained on Tuesday as well. However, the index succumbed to selling pressure on Wednesday and added a distribution day. On Thursday, the index showed its strength as it scaled a new all-time high (25,433). Friday, it started on a muted note following mixed global cues. As the session progressed, it traded in a narrow range and closed slightly lower.

For the week, all the sectoral indices closed higher. Nifty FMCG (+2.99%) emerged as the major gainer, followed by Nifty Pvt Bank (+2.95%) and Media (+2.84%).

Key News:

Avenue Supermarts opened a new store in Sagar, Madhya Pradesh, bringing the total number of its stores to 376.

In August, passenger traffic increased 9% y/y and 0.1% m/m to 10.6M. Domestic passenger traffic rose 7.4% y/y.

Interglobe Aviation's market share rose to 62.4% in August, up from 62% in July, reversing a decline of 80bps in June. IndiGo carried 8.19M passengers in August.

Spicejet's market share dropped to 2.3% in August from 3.1% in July, marking a fifth consecutive month of decline.

Zydus Lifesciences's wholly-owned subsidiary, Zydus Lifesciences Global FZE, has signed an exclusive licensing and supply agreement with Viwit Pharmaceuticals for two gadolinium-based MRI contrast agents for the U.S. market.
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