Weekly Market Wrap: Saturday, September 7th 2024.

# Nifty fell sharply after scaling new record historic high at 25333.65; Snaps its 3-week winning streak.

# Bank Nifty too tumbled 1.51% on weekly basis snapping its 3-week winning streak.

# The two big negative catalysts:

1) The latest update on US manufacturing which has brought fear about a recession back to the surface.

2) An unpleasant and unwelcome reading for investors from Friday’s released US August Jobs Report points to a smaller Fed Rate cut.

# Reliance Industries slipped 2.97% despite approving bonus share issue in 1:1 ratio, the first bonus issue since 2017, when its stock price was roughly Rs 700.

# The debt-ridden Vodafone Idea dropped 14.64%, Indus Towers fell 7.72% as Goldman Sachs flagged growth concerns.

# Bajaj Finance and Bajaj Finserv traded with positive bias as Bajaj Housing Finance sets mega-IPO date on 9 September and closes on September 11th.

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Logo k portfolio -ve me h aap keh rhe ho k profit booking aayi h ??