19 Sep 2024 | 12:50:38 PM IST
Synopsis
Sensex Today | Stock Market LIVE Updates | Sensex and Nifty hit a record high on Thursday, driven by gains in information technology stocks, following the U.S. Federal Reserve decision to initiate its monetary easing cycle with a substantial 50-basis-point rate cut.
All 13 major sectors logged gains. The broader, more domestically focussed small- and mid-caps rose about 0.6% each.
Highlights of Trade:
- IREDA shares rise on securing govt nod for QIP
- NTPC shares rally as subsidiary files IPO papers
- Nifty Bank tops 53,000 for the first time
- Nifty IT gains over 1%
- Sensex and Nifty open at lifetime high
Market View by Dr. V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services.
The big Fed rate cut by 50 bp has the potential to take equity markets into a consolidation phase with an upward bias. The Fed chief Powell’s remark that “we have gained greater confidence that inflation is moving sustainably towards 2%” is a very optimistic commentary of the US economy. At the same time US growth continues to be solid and the labour market is good.
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Stock Market LIVE Updates| CESC arm signs pact to set up 686.85 MW wind project
CESC announced on Thursday that its subsidiary, Purvah Green Power, has signed an agreement with Ecoren Energy India to establish a wind power project with a capacity of up to 686.85 MW. CESC clarified that Ecoren Energy India is not a related party or part of its promoter or promoter group.
Price as on 12.50.37 PM, Click on company names for their live prices.
Stock Market LIVE Updates | Top losers from Nifty Midcap 100 index at this hour
Sensex Today | Volume Surge: MFs lap up over 1 crore shares of 5 stocks in August
Today’s MF analysis by ETMarkets highlighted stocks with the largest mutual fund share additions in August 2024, focusing on those with over 10% price gains, resulting in a list of five stocks.
Price as on 12.37.27 PM, Click on company names for their live prices.
Stock Market LIVE Updates| Bondada Green Engineering secures Rs 10.20 crore worth of orders from Bharti Airtel
Price as on 12.36.58 PM, Click on company names for their live prices.
Stock Market LIVE Updates| Nifty Midcap 100 falls 1,800 points off day’s high; registers biggest intraday fall in over 1 month
Stock Market LIVE Updates |Bharti Airtel share price hits upper circuit
Price as on 12.30.26 PM, Click on company names for their live prices.
Sensex Today | Japan’s Nikkei at over two-week closing high as exporters advance on weaker yen
Japan’s Nikkei share average reached its highest close in over two weeks, rising 2.13% to 37,155.33, driven by exporters as the yen weakened amid expectations of slower U.S. Federal Reserve rate cuts.
Stock Market LIVE Updates | Northern Arc Capital IPO subscribed over 31 times on Day 4 of bidding
Northern Arc Capital’s IPO was subscribed 31.5 times on the final day, with non-institutional investors leading at 84.8 times, followed by retail investors at 24 times and QIBs at 6.3 times. The issue closes on September 19.
Sensex Today | Western Carriers IPO subscribed over 17 times on last day of bidding process
- Western Carriers’ IPO was subscribed 17.5 times, with retail and non-institutional investors showing strong demand, booking 21.7 and 30.31 times, respectively.
- The QIB portion was only 24% subscribed.
Sensex Today | Stock Market LIVE Updates | Nifty Midcap index sinks over 1,300 points; 86 of 100 stocks trade with cuts
Sensex Today | Stock Market LIVE Updates: Nifty Midcap 100 tanks 1,307 points; Voda Idea, Indus Towers, BSE worst hit
Price as on 12.05.24 PM, Click on company names for their live prices.
Stock Market LIVE Updates | Pakistan benchmark share index hits all-time high, up 1.8%
- Pakistan’s benchmark share index climbed 1.85% on Thursday, reaching a record high of 81,953 points.
- The index has surged in recent weeks, driven by optimism surrounding an IMF bailout package to support the struggling economy.
The Federal Reserve’s rate cut is expected to boost Indian equities and attract foreign investment in the short term. However, it also raises concerns about underlying weaknesses in the US economy and could lead to increased market volatility. This could prompt similar actions by the Reserve Bank of India in late 2024 or early 2025, especially if inflation remains low. The rate cut presents opportunities for growth in sectors such as banking, IT, real estate, and consumer goods in India but also carries risks due to global economic uncertainties and potential volatility in foreign investment flows
– Vipul Bhowar, Senior Director, Listed Investments, Waterfield Advisors, on the impact of the US Federal Reserve’s rate cut on Indian equities
Sensex Today | Stock Market LIVE Updates: Nifty PSU Bank falls nearly 2%; PSB, UCO Bank top losers
Price as on 12.01.45 PM, Click on company names for their live prices.
Sensex Today | Stock Market LIVE Updates: Indus Towers shares sink 10% on SC setback in AGR case
Price as on 11.55.54 AM, Click on company names for their live prices.
Sensex Today | Stock Market LIVE Updates: Zee Entertainment shares fall 3% after Star India seeks nearly Rs 8K crore in damages
Price as on 11.53.41 AM, Click on company names for their live prices.
Sensex Today | 360 ONE WAM approves fund raise of up to Rs 2,250 crore via QIP
Price as on 11.32.35 AM, Click on company names for their live prices.
Fed rate action is a pivot which is likely to boost money flow to emerging markets and lead to increased demand across asset classes. It may lead to a rate cut cycle in India, which will result in demand and price escalation of long duration bonds
– Mr. Suresh Darak, Founder & Director, Bondbazaar.
Sensex Today | India VIX eases over 8%
Sensex Today | DCX Systems shares gain 3% on receiving export orders worth nearly Rs 154 crores from Elta Systems, Israel.
Price as on 11.07.46 AM, Click on company names for their live prices.
Stock Market LIVE Updates | IRIS signs MoU with the Government of Telangana; stock jumps 2%
Price as on 11.05.30 AM, Click on company names for their live prices.
Sensex Today | Reliance Power & Reliance Infra share rally up to 5%
This upward trend follows their successful clearance of past debts and obligations.
Price as on 11.00.18 AM, Click on company names for their live prices.
The long-awaited Fed pivot is finally here, with the FOMC lowering the Federal Funds rate by 50 bps in its very first rate cut of this rate cut cycle. If we leave aside the emergency rate cuts of the Covid pandemic period, the last time the Fed cut rates by 50 bps was during the global financial crisis of 2008. This bold 50 bps cut is justified given the current economic data in the U.S., and consistent with the revised upwards staff projection for US unemployment. The FOMC has gained confidence that inflation is moving towards its 2% target on a sustained basis, and therefore it has chosen to focus on avoiding an undue rise in employment that sometimes arises out of persistent inflation targeting. Going forward, the FOMC is expected to cut an additional 50 bps by the end of the current calendar year, and another 100 bps in CY25.
– Unmesh Kulkarni, Managing Director Senior Advisor, Julius Baer India
Sensex Today | Stock Market LIVE Updates: Bharti Airtel + Bharti Airtel (Partly Paid) combined m-cap crosses Rs 10 lakh crore
Price as on 10.57.58 AM, Click on company names for their live prices.
Stock Market LIVE Updates | BSE shares fall 7% on profit booking
Price as on 10.56.37 AM, Click on company names for their live prices.
Stock Market LIVE Updates | Small, midcap indices under pressure
Stock Market LIVE Updates | Aurobindo Pharma In Focus
New injectable facility of Eugia Steriles Private Limited, a 100% stepdown subsidiary of Aurobindo Pharma, receives Establishment Inspection Report (EIR) from the United States Food and Drug Administration (US FDA)
Price as on 10.34.39 AM, Click on company names for their live prices.
Sensex Today | Shares of PTC India and Mazagon Dock fall up to 4% as they start trading on ex-dividend basis
- PTC India announced a dividend of Rs 7.8 per share.
- Mazagon Dock Shipbuilders declared a dividend of Rs 12.11 per share.
Price as on 10.24.39 AM, Click on company names for their live prices.
Stock Market LIVE Updates | FirstCry shares gain 2% on positiv outlook by Morgan Stanley & BofA
Morgan Stanley: Overweight| Target price: Rs 818| Upside potential: 27%
BofA: Buy| Target price: Rs 770| Upside potential: 20%
Price as on 10.15.44 AM, Click on company names for their live prices.
Sensex Today | Fertilizer stocks fall up to 4% as govt approves Rs 24,475 cr subsidy on P&K fertilisers
The government on Wednesday approved Rs 24,474.53 crore subsidy on phosphatic and potassic (P&K) fertilisers for the rabi season of 2024-25 to ensure supply of crop nutrients to farmers at affordable rates.
Price as on 10.13.15 AM, Click on company names for their live prices.
Stock Market LIVE Updates | Aditya Birla Capital shares gain 2% on getting RBI nod for merger
Aditya Birla Capital received no objection letter for proposed amalgamation of Aditya Birla Finance with the company.
Price as on 10.07.20 AM, Click on company names for their live prices.
Sensex Today | Nazara Tech shares drop pver 4% on announcing fund raise
Nazara Technologies, India’s top diversified gaming and sports media company, has announced its largest fundraising effort of ₹900 crore to enhance its growth trajectory.
Price as on 10.02.38 AM, Click on company names for their live prices.
Stock Market LIVE Updates | GE T&D India shares fall 5% on reports of stke sale by promoters
Promoters of GE T&D India, Grid Equipments and GE Grid Alliance BV, are expected to sell up to 11.5% equity in the company through an offer for sale (OFS).
Price as on 10.01.47 AM, Click on company names for their live prices.
Forex News | Rupee rises 6 paise to 83.70 against US dollar in early trade
The rupee strengthened by 6 paise to 83.70 against the U.S. dollar in early trading on Thursday, buoyed by positive investor sentiment following the Federal Reserve’s anticipated interest rate cut.
The currency also benefited from lower crude oil prices, robust domestic equity markets, and inflows of foreign funds, according to forex traders. However, a stronger dollar limited further gains for the rupee, they noted.
Stock Market LIVE Updates | HDFC Bank shares jump tracking rise in bank stocks
Price as on 09.55.52 AM, Click on company names for their live prices.
Stock Market LIVE Updates | Spicejet shares gain 2% on strong response from QIP
Budget carrier SpiceJet launched its Qualified Institutional Placement (QIP) and received a strong response from investors, including notable participation from the family office of Madhu Kela, according to reports.
Price as on 09.51.45 AM, Click on company names for their live prices.
Stock Market LIVE Updates | Fed rate cut will not significantly impact inflows into India: Ajay Seth
The U.S. Federal Reserve’s decision to cut interest rates will not significantly impact inflows into India, the South Asian nation’s Economic Affairs Secretary Ajay Seth said on Thursday.
“It’s a 50 bps cut from high level so I don’t see that making any significant impact on the flows (into India). We have to see how things develop going forward,” Seth told reporters.
Stock Market LIVE Updates | US Fed’s 50 bps rate cut not too aggressive: Economic Affairs Secretary, Ajay Seth
US Fed’s 50 bps rate cut not too aggressive, positive for global & Indian economy. Don’t see any major change in inflows due to Fed rate cut, don’t expect volatility in fin markets due to Fed rate cut.
Sensex Today | M-cap of BSE-listed cos rises to Rs 470 lk cr
The combined market capitalization of all BSE-listed stocks rose by Rs 2.5 lakh crore to Rs 470 lakh crore.
Stock Market LIVE Updates | Bajaj Housing Finance In Focus; stock sheds 4%
After rallying for 3 days, shares of Bajaj Housing dropped 4%. Shares continued to rally on Wednesday for the third straight day and was up nearly 4% to make a new high of Rs 188.45. Lucky IPO investors, who got allotted via lottery system, are now sitting on hefty gains of 170%.
Price as on 09.35.21 AM, Click on company names for their live prices.
Stock Market LIVE Updates | Nifty Bank tops 53,000 for the first time
- Nifty Bank hits record high of 53,353
- IDFC First Bank, AUSFB among top gainers
SENSEX UP 700 PTS: HDFC Bank, Infosys lead contributors
Stock Market LIVE Updates | IREDA shares gain 3% as company plans to raise Rs 30,000 crore in FY25 through debt and equity
Price as on 09.22.29 AM, Click on company names for their live prices.
Sensex Today | Stock Market LIVE Updates | NTPC jumps 2% on NTPC Green IPO nod
Price as on 09.22.09 AM, Click on company names for their live prices.
Sensex Today | Stock Market LIVE Updates | IT stocks trade higher
Price as on 09.21.18 AM, Click on company names for their live prices.
Opening Bell: D-St at fresh peak! Sensex climbs 600 pts, Nifty tops 25,500 for the first time
Sensex Today | Stock Market LIVE Updates | Nifty crosses 25,500 for the first time
More rate cuts are expected from the Fed, going forward. The rate projections are 4.4% by end 2024 and 3.4% for end 2025. These will be big declines from the present 4.75 to 5% rate. The rate cuts by the Fed will pave the way for rate cuts in India, too. CPI inflation coming below the RBI’s target of 4% during the last 2 months will facilitate rate cuts. Two rate cuts of 25bp each are possible in India before March 2025. In brief the market scenario is turning favourable for rate-sensitives, particularly banking.
– Dr. V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services.
Sensex Today | Stock Market LIVE Updates: Sensex rises over 400 points, Nifty above 25,450 in pre-open session
Sensex Today | Stock Market LIVE Updates: Fed cut positive for Asian stocks and risk currencies, analysts say
Analysts suggest that the Federal Reserve’s decision to reduce its benchmark interest rate by 50 basis points could benefit Asian stocks, as it provides the region’s central banks with greater flexibility to ease their monetary policies.
Foreign inflows set to increase post-Fed cut
Foreigners have historically sold Indian equities in the month after a US rate cut cycle begins, but the full-year trend is positive, according to Citi. In all four cases studied, foreign inflows were positive over 12 months, aided by a weak dollar. Global funds have been net buyers for weeks, and lower rates could offer another opportunity to overweight India. Healthcare and staples performed well in the 12 months following US rate cuts, Citi said.
(Source: Bloomberg)
Sensex Today | Stock Market LIVE Updates: Bank of England set to hold rates with bond sales in spotlight
The Bank of England is expected to maintain interest rates on Thursday while it waits for indications that inflation risks have been controlled. Instead, attention will be on a decision regarding bond sales that could impact Finance Minister Rachel Reeves’ inaugural budget.
Sensex Today | Stock Market LIVE Updates: India overtakes China in yet another global benchmark
India has surpassed China in yet another significant global equity benchmark, having previously outpaced it in the MSCI Emerging Markets Investable Market Index (IMI) earlier this month. As of Wednesday, the weight of Indian stocks in the MSCI AC World Investable Market Index (IMI) reached 2.35%, compared to China’s 2.24%. This shift comes as strong performance from equities in Mumbai has resulted in a greater representation of local stocks in the indices.
The Fed’s New Dot Plot After Its September Meeting.
The Federal Reserve’s so-called dot plot, which the US central bank uses to signal its outlook for the path of interest rates, shows the median year-end projection for the federal funds rate fell to 4.38%. The median estimate for the end of 2025 decreased to 3.38%. Fed policymakers on Wednesday cut their benchmark interest rate by 50 basis points. (Source: Bloomberg)
Stock Market LIVE Updates: Ahead of $1.25-bn IPO, lesser-known company’s Swiggy share buy gets D-Street’s attention
A relatively obscure publicly traded company with a market capitalization of ₹703 crore attracted the interest of market participants on Wednesday after revealing its investment in Swiggy, the upcoming food and grocery delivery giant preparing for an IPO.
Sensex Today | Stock Market LIVE Updates: Hot on Octafx money trail, ED taps spain
In what may turn out to be a lengthy and challenging investigation, the Enforcement Directorate (ED) has submitted a letter rogatory (LR) to request Spain’s assistance in probing Octafx, a mysterious international forex betting empire that has left Indian authorities bewildered. Owned by a Russian named Pavel Prozorov, Octafx operates its servers from Barcelona, has a tech support team in Georgia, its parent office in Cyprus, banking connections in Singapore, and marketing operations in Estonia and the British Virgin Islands.
Sensex Today | Stock Market LIVE Updates: NTPC Green Energy files for Rs 10,000-crore IPO
NTPC Green Energy, a subsidiary of NTPC, submitted a draft red herring prospectus (DRHP) to the Securities and Exchange Board of India on Wednesday for a ₹10,000-crore IPO. This offering will consist entirely of new shares.
Sensex Today | Stock Market LIVE Updates: Gold jumps to record high after US Fed delivers 50 bps rate cut
Gold prices reached an all-time high on Wednesday following the U.S. Federal Reserve’s 50 basis point interest rate cut, which led to a decline in the dollar.
Sensex Today | Stock Market LIVE Updates: IREDA planning to raise Rs 30,000 crore via debt, equity
The state-owned Indian Renewable Energy Development Agency (IREDA) plans to raise ₹30,000 crore in FY25 through a combination of debt and equity. Part of this funding will come from a follow-on public offer expected between mid-January and February, as stated by Chairman and Managing Director Pradeep Kumar Das in an interview with ET.
Sensex Today | Stock Market LIVE Updates: Not saying mission accomplished on lowering inflation: Powell
Federal Reserve Chairman Jerome Powell stated on Wednesday that the central bank’s projections for future interest rate cuts do not suggest an immediate need for action.
Sensex Today | Stock Market LIVE Updates: US Fed slashes interest rates by 50 bps in first cut since 2020
On Wednesday, the US Federal Reserve lowered its key lending rate by half a percentage point, marking its first cut since the pandemic and significantly reducing borrowing costs just ahead of the November presidential election.
Sensex Today | Stock Market LIVE Updates: Dollar rebounds after Fed goes big on rate cut
The U.S. dollar gained ground on Thursday, bouncing back from a previous decline following the Federal Reserve’s significant interest rate cut, which had already been largely anticipated by the markets.
Sensex Today | Stock Market LIVE Updates: US stocks close slightly lower, trade choppy after Fed rate cut
US stocks ended Wednesday with slight losses, pulling back from their intraday highs, after the Federal Reserve implemented a 50 basis point interest rate cut—higher than many had anticipated—marking its first reduction in over four years.
Sensex Today | Stock Market LIVE Updates: GIFT Nifty signals a muted start for D-Street. Here’s the trading setup for today’s session
Domestic markets stabilized after reaching new highs, finishing the day in the red as investors adopted a cautious stance ahead of the US Fed policy meeting outcome.
Stock Market LIVE Updates | Oil prices fall as US rate cut fails to boost market sentiment
Oil prices fell in Asian trading on Thursday after a larger-than-expected Federal Reserve interest rate cut sparked concerns about the U.S. economy.
Brent crude futures for November fell 34 cents, or 0.46%, to $73.31 a barrel by 0015 GMT, while WTI crude futures for October declined to $70.49 a barrel, down 42 cents or 0.59%.
Stock Market LIVE Updates | Asian stocks gain as Fed rate cut boosts sentiment
Asian stocks climbed, along with U.S. equity futures, following the Federal Reserve’s decision to cut interest rates by half a percentage point and signal potential further easing in the coming months.
Japanese equities saw a boost in early trading, aided by a decline in the yen against the dollar. U.S. stock futures rose after the S&P 500 briefly reached a record high before closing 0.3% lower. Australian shares also experienced gains.
Stock Market LIVE Updates | Dollar rebounds after Fed goes big on rate cut
The U.S. dollar strengthened on Thursday, bouncing back from an initial drop following the Federal Reserve’s significant interest rate cut, which had mostly been anticipated by the markets.
On Wednesday, the Fed initiated its monetary easing cycle with an unusually large half-percentage-point reduction. Chair Jerome Powell indicated that this move aimed to demonstrate policymakers’ commitment to maintaining a low unemployment rate as inflation continues to ease.
Stock Market LIVE Updates | US stocks close slightly lower, trade choppy after Fed rate cut
U.S. stocks ended the day with modest losses on Wednesday, retreating from intraday highs following the Federal Reserve’s 50 basis point interest rate cut—its first reduction in over four years.
The trading session was volatile. Before the Fed’s announcement, the S&P 500 fluctuated between slight gains and losses. After the announcement, it rose by as much as 1% but eventually pulled back to close lower
Stock Market LIVE Updates | Global Markets Check
- S&P 500 futures rose 0.5% as of 9:46 a.m. Tokyo time
- Japan’s Topix rose 2%
- Australia’s S&P/ASX 200 rose 0.2%
- Euro Stoxx 50 futures rose 0.7%
