Stock Market LIVE Updates: Sensex tests 82,500 at open, Nifty at 25,200; Kernex, Linde India gain
Stock Market LIVE Updates: Indian benchmark indices open in the green on Thursday, shaking off the muted sentiment flowing from global markets.
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Stock Market LIVE Updates, Thursday, September 5, 2024: Indian equity benchmark indices opened marginally higher on Thursday, shaking off the mixed cues flowing from global markets after the previous day's sharp sell-off across markets
At opening bell, the BSE Sensex was up 122 points, or 0.15 per cent, at 82,474, while the Nifty 50 was at 25,250, up 51 points, or 0.21 per cent.
Elsewhere, MSCI's global equities gauge fell for a third day in a row and oil prices lost ground on Wednesday, while safe-haven assets such as US Treasuries and Japan's yen were in demand as a mixed batch of economic data fueled concerns about slowing growth.
Crude oil futures settled down more than 1 per cent in their third straight day of declines, including a more than 4 per cent loss on Tuesday, due to fears about demand for coming months.
In US Treasuries, yields were lower and earlier in the day, the closely watched yield curve between two-year and 10-year notes turned positive after data showed that US job openings fell to a three and a half year low in July.
On Tuesday, Wall Street stock indexes had registered their biggest daily percentage drops since early August as investors took profits while weak US manufacturing data did little to boost risk appetites.
On Wednesday, the S&P 500 ended lower after spending the morning flitting between red and green as investors waited anxiously for more economic data. Thursday will bring a reading on the US services industry, along with jobless claims data.
Elsewhere, markets in the Asia-Pacific region mostly rebounded on Thursday from the sell-off on Wednesday, except for the markets in Japan.
The Nikkei 225 and Topix fell 0.92 per cent and 0.49 per cent, respectively, on open, shortly after the release of Japan’s July wage data that showed average monthly cash earnings in the country rising 3.6 per cent year-on-year, a softer rise compared to the 4.5 per cent climb seen in June.
Real wages climbed 0.4 per cent year-on-year, the second straight month of growth after the 1.1 per cent rise in June. A strong pay report would give the Bank of Japan more room for a rate hike, which could put pressure on equities.
Other economic data coming from the region include trade data from Australia and retail sales numbers from Singapore.
Then Friday's hotly anticipated August report for nonfarm payrolls is expected to provide the clearest clues as to the health of the US economy and whether the Federal Reserve will cut interest rates this month by a quarter or a half of a percentage point.
Also on Wednesday, Atlanta Federal Reserve President Raphael Bostic said the U S central bank must not keep interest rates too high much longer or it risks harming employment too much.
On Wall Street, the Dow Jones Industrial Average rose 38.04 points, or 0.09 per cent, to 40,974.97, the S&P 500 lost 8.86 points, or 0.16 per cent, to 5,520.07 and the Nasdaq Composite lost 52.00 points, or 0.30 per cent, to 17,084.30.
MSCI's gauge of stocks across the globe fell 4.40 points, or 0.54 per cent, to 815.07. Earlier Europe's STOXX 600 index fell had closed down 0.97 per cent.
In Treasuries, the yield on benchmark US 10-year notes fell 8.9 basis points to 3.755 per cent, from 3.844 per cent late on Tuesday while the 2-year note yield, which typically moves in step with interest rate expectations, fell 12.8 basis points to 3.76 per cent.
Crude oil prices fell on pessimism about demand in the coming months as crude producers offered mixed signals about supply increases.
US crude settled down 1.6 per cent at $69.20 a barrel while Brent ended 1.4 per cent lower at $72.70 per barrel.
Gold prices reversed course to gain ground with help from a softer dollar and lower yields after the weak data on US job openings. Spot gold inched up 0.07 per cent to $2,494.43 an ounce.
9:35 AM
The uptick in Suzlon Energy share price came after the company announced that it has executed a Conveyance Deed to sell its Pune-based corporate office to OE Business Park for Rs 440 crore. Read more
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Stock Market LIVE Updates: Suzlon Energy sells corporate office to OE Business Park; stock gains 3%
Suzlon Energy shares rise:Shares of Suzlon Energy gained as much as 2.57 per cent to hit an intraday low of Rs 776.09 per share on Thursday, September 5, 2024.
The uptick in Suzlon Energy share price came after the company announced that it has executed a Conveyance Deed to sell its Pune-based corporate office to OE Business Park for Rs 440 crore. Read more
9:30 AM
Stock Market LIVE Updates: Ultratech Cement, Shriram Finance and Tata Steel lead gains on NSE
Ultratech Cement, Shriram Finance and Tata Steel were among the top five gainers on NSE, while HDFC Life and Bharti Airtel were among the top five losers.
9:27 AM
Sectoral trends:: Nifty Metal, Media, Private Bank gain
Nifty Metal, Media and Private Bank gained by 0.57 per cent, 0.45 per cent and 0.32 per cent respectively.
9:24 AM
Stock Market LIVE Updates: Heatmap check
Ultratech Cement, Tata Steel and ITC gained up to 1 per cent and led the charts on Sensex, while Asian Paints, Nestle India and Bharti Airtel witnessed losses
9:20 AM
Stock Market LIVE Updates: Broader markets soar
The broader indices outperformed benchmarks, with MidCap rising 0.35 per cent and SmallCap surging 0.65 per cent.
9:19 AM
Opening Bell: Nifty at 25,250 level
The top 50 blue chip stocks index Nifty50 scaled 0.2 per cent at 25,250 level.
9:16 AM
Opening Bell: Sensex surges over 100 pts at 82,475 level
The benchmark BSE Sensex moved up by 122 points at 82,475 level at the opening bell.
9:09 AM
Market Pre-open: Nifty at 25,250
NSE's Nifty50 was trading 0.21 per cent higher at 25,250 levels in pre-opening trade.
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Market Pre-open: Sensex jumps over 100 pts
The benchmark index BSE Sensex was trading 0.14 per cent higher at 82,470 levels in pre-opening deals.
9:05 AM
Stock Market LIVE Updates: Rupee opens flat at Rs 83.97
At open the rupee was trading flat at Rs 83.97 per US dollar.
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Stock Market LIVE Updates: Star Health to collaborate with foreign insurers for inward reinsurance
Stock Market LIVE Updates: Star Health and Allied Insurance is looking to collaborate with insurers in Africa and West Asia for inward reinsurance opportunities through GIFT City, said Anand Roy, managing director, Star Health and Allied Insurance on Wednesday.
Inward reinsurance is a contract between two insurance companies, where the transferring insurer will act as the reinsurer. READ MORE
8:55 AM
Besides scaling up investments in business parks, data centres and logistics, the fund manager plans to make forays into private credit for real estate and investments into renewable energy projects. READ MORE![]()
Stock Market LIVE Updates: CapitaLand Investment to double funds under management in India by 2028
Stock Market LIVE Updates: Singapore-based CapitaLand Investment Ltd (CLI) is planning to more than double its funds under management (FUM) in India by 2028 from the current base of SGD 7.4 billion.
Besides scaling up investments in business parks, data centres and logistics, the fund manager plans to make forays into private credit for real estate and investments into renewable energy projects. READ MORE
8:54 AM
The Chennai-based company is targeting over a 40 per cent rise in its revenue in the next two years, owing to a push in electronic sector investments in Tamil Nadu, with players like Apple going on an expansion drive.
Apple is reportedly planning to increase India's share of its global iPhone production to 25 per cent in the next three to four years. READ MORE ![]()
Stock Market LIVE Updates: Apple's key manpower supplier Layam Group plans IPO next fiscal year
Stock Market LIVE Updates: Layam Group —a key supplier of skilled manpower to Apple manufacturing partners like Foxconn, Tata Electronics, and Pegatron — is planning to launch an initial public offering (IPO) during the next financial year to fund its expansion plans.
The Chennai-based company is targeting over a 40 per cent rise in its revenue in the next two years, owing to a push in electronic sector investments in Tamil Nadu, with players like Apple going on an expansion drive.
Apple is reportedly planning to increase India's share of its global iPhone production to 25 per cent in the next three to four years. READ MORE
8:51 AM
The global partnership between Toyota and Suzuki, announced in FY19, involves the mutual supply of products and components, including model swaps between their Indian subsidiaries —TKM and Maruti Suzuki India. READ MORE![]()
Stock Market LIVE Updates: Hybrid cars, Suzuki tie-up drive up Toyota Kirloskar profit 3x in FY24
Stock Market LIVE Updates: Toyota Kirloskar Motor (TKM) has reported a consolidated net profit of Rs 4,787 crore for 2023-24 (FY24) — more than three times the earnings recorded the previous year. This growth can be attributed to robust demand for its vehicles, particularly hybrid models and cross-badged cars from the Toyota-Suzuki alliance.
The global partnership between Toyota and Suzuki, announced in FY19, involves the mutual supply of products and components, including model swaps between their Indian subsidiaries —TKM and Maruti Suzuki India. READ MORE
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Stock Market LIVE Updates: Centre awards RIL full quota of Advanced Chemistry Cell under PLI-II
Stock Market LIVE Updates: Oil to telecom behemoth Reliance Industries Limited (RIL) has been awarded the complete capacity of the Advanced Chemistry Cell (ACC) offered under the second tranche of the Production Linked Incentive (PLI) scheme.
The ministry of heavy industries (MHI) in a public announcement said the award followed the "Quality and Cost-Based Selection (QCBS) mechanism”.
The ministry of heavy industries (MHI) in a public announcement said the award followed the "Quality and Cost-Based Selection (QCBS) mechanism”.
By adding 10 GWh (gigawatt hour) of ACC capacity under the current phase, RIL now holds the highest capacity among all other players in the segment who participated in the PLI scheme with maximum budgetary outlay of Rs 3,620 crore. READ MORE
Topics : MARKET LIVE MARKETS LIVE Markets Sensex Nifty S&P BSE Sensex Gift Nifty Nifty50 Nifty 50 BSE NSE BSE NSE equity MARKETS TODAY share market Global stock markets Indian stock market
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First Published: Sep 05 2024 | 7:18 AM IST
