Stock Market LIVE updates: Sensex jumps 1,000pts to 82,500, Nifty up 300pts to 25,200; Metal surges
Stock Market LIVE updates: Indian markets surged on Thursday, following overnight gains on the Wall Street.
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Stock Market LIVE updates, Thursday, September 12, 2024: Indian equity benchmark indices BSE Sensex and Nifty 50 surged on Thursday, following overnight gains in the US markets.
At 1:00 PM, the BSE Sensex was up 171 points, or 0.21 per cent, at 81,694, while the Nifty 50 had gained 80 points, or 0.32 per cent, at 24,998.
Meanwhile, Asian shares bounced on Thursday, tracking a tech-driven rally on Wall Street, while the dollar held onto gains after US core inflation surprised slightly on the upside and dashed hopes of a large rate cut by the Federal Reserve next week.
Investors are now awaiting a policy decision from the European Central Bank later in the day where a rate cut is almost a certainty, but the question remains whether it would move again in both October and December.
Europe is set for solid gains ahead of the ECB risk event, with EUROSTOXX 50 futures jumping 1.3 per cent and FTSE futures gaining 1.1 per cent. Nasdaq futures also turned higher, last up 0.3 per cent.
MSCI's broadest index of Asia-Pacific shares outside Japan rallied 1.5 per cent. The Nikkei jumped 3.3 per cent, helped by a weaker yen, which pulled back from its 2024 high of 140.71 per dollar.
Overnight, US data showed core consumer price index (CPI) rose 0.28 per cent in August, compared with forecasts for a rise of 0.2 per cent. It was enough of a steer for markets to almost abandon the chance of a half-point rate cut from the Federal Reserve next week, with probability for such a move at just 15 per cent.
The disappointment over core inflation figures had pressured Wall Street but again tech stocks came to the rescue, with AI darling Nividia jumping 8 per cent, helped by a media report that the US government is considering letting the company export advanced chips to Saudi Arabia.
Regional tech-heavy sharemarkets followed suit, with Taiwan adding 2.8 per cent and South Korea gaining 1.7 per cent.
China's share markets were subdued, while Hong Kong's Hang Seng moved 1.2 per cent higher.
Short-dated US Treasuries sold off overnight. Two-year Treasury yields edged up 1 basis point to 3.66 per cent, having risen 4 basis points overnight, while 10-year yields were at 3.6665 per cent. That left the 2-10-year yield curve flattening slightly and barely remaining positive at less than 1 bp.
Oil extended gains on fears that Hurricane Francine could lead to lengthy production shutdowns in US. Brent crude futures rose 0.7 per cent to $71.09 a barrel, after gaining 2 per cent overnight. It also found support at $68.69, the lowest level in almost three years.
Gold was 0.2 per cent higher at $2,517.89 an ounce, just a touch below its record high of $2,531.60.
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Stock Market LIVE Updates: Sebi considers new stricter rules to curb risks as tiny IPOs boom
Stock Market LIVE Updates: India’s securities regulator is considering tighter oversight on micro-cap firms going public, including monitoring the use of their funds and imposing stricter due diligence guidelines for merchant bankers, according to a person involved in the discussions. READ MORE
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Stock Market LIVE Updates: Rupee in focus
Stock Market LIVE Updates: USDINR CMP- 83.9825 (spot) Indian Rupee traded range bound with a slight positive bias today on positive domestic and Asian markets. However, a positive US Dollar and surge in crude oil prices capped sharp gains.
Dollar gained as CPI rose in August (M-o-M), which trimmed expectations of a 50 bps rate cut at the FOMC meeting next week. Core CPI increased 0.3 per cent in August (M-o-M) versus forecast of 0.2 per cent. However, annual inflation cooled off to 2.5 per cent (Y-o-Y) in August versus 2.9 per cent in July and in line with the forecast of 2.5 per cent.
Dollar gained as CPI rose in August (M-o-M), which trimmed expectations of a 50 bps rate cut at the FOMC meeting next week. Core CPI increased 0.3 per cent in August (M-o-M) versus forecast of 0.2 per cent. However, annual inflation cooled off to 2.5 per cent (Y-o-Y) in August versus 2.9 per cent in July and in line with the forecast of 2.5 per cent.
We expect the Rupee to trade with a slight negative bias on positive US Dollar and a recovery in crude oil prices. However, a rise in risk appetite in global markets may support the Rupee.
Any intervention by the RBI may support the Rupee at lower levels. Traders may take cues from India’s CPI data and ECB monetary policy. Investors may remain cautious ahead of the US FOMC meeting next week. USDINR spot price is expected to trade in a range of Rs 83.80 to Rs 84.20.
Any intervention by the RBI may support the Rupee at lower levels. Traders may take cues from India’s CPI data and ECB monetary policy. Investors may remain cautious ahead of the US FOMC meeting next week. USDINR spot price is expected to trade in a range of Rs 83.80 to Rs 84.20.
Views By: Anuj Choudhary, research analyst, Sharekhan by BNP Paribas
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Stock Market LIVE Updates: Tata Motors, MG offer free charging, battery rentals to lure EV buyers
Stock Market LIVE Updates: India's top electric vehicle maker, Tata Motors, is luring consumers with free charging and steep discounts, while rival MG Motor has launched its first battery rental plan, in strategies aimed at propping up sales of the clean cars. READ MORE
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Stock Market LIVE Updates: Bharti Airtel stock hits 52-week high after expanding Wi-Fi services to J&K
Stock Market LIVE Updates: Shares of Bharti Airtel, one of the leading telecommunications company of India rose as much as 2.02 per cent to record its 52-week high on NSE at Rs 1,577.80 per share on Thursday’s intraday trade. Bharti Airtel share price today moved up after the company announced that it has expanded its home Wi‐Fi service across all the 22 districts of the Union Territories of Jammu and Kashmir and Leh-Ladakh. READ MORE
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Stock Market LIVE Updates: C.E. Infosystems partners with Zoomcar; share price rises 3%
Stock Market LIVE Updates: C.E. Info Systems share price today added 3.2 per cent on BSE and touched an intraday high of Rs 2124.95 per share. The up move in the stock came after the company announced its partnership with Zoomcar. READ MORE
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Stock Market LIVE Updates: Domestic steel consumption likely to see 9-10% growth in FY25, says ICRA
Stock Market LIVE Updates: Domestic steel consumption is likely to witness 9-10 per cent growth this financial year, rating agency ICRA said on Thursday. The demand for steel was robust in the first quarter of the ongoing financial year with consumption growing at a rate of 15 per cent on a year-on-year basis amidst competitively priced imports. READ MORE
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Stock Market LIVE Updates: EU GMP Certification sends this small-cap pharma stock flying over 14%
Stock Market LIVE Updates: Shares of pharmaceutical company, Medicamen Biotech, climbed as much as 14.29 per cent to Rs 507 on the BSE during intra-day deals on Thursday. The uptick in the stock price followed the news that the company’s General Tablets and Liquid Orals Formulation facility, located in Bhiwadi, received the EU GMP certification from the Inspection Department, Division of Production & Distribution Control, National Organisation for Medicines, Greece. READ MORE
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Stock Market LIVE Updates: Don't chase housing financing stocks due to Bajaj Housing Fin IPO: Analysts
Stock Market LIVE Updates: The jaw-dropping response to the initial public offering (IPO) of Bajaj Housing Finance may aid the recent rally seen in most of the shares of housing finance companies, albeit for a short-term, believe analysts. READ MORE
2:03 PM
Stock Market LIVE Updates: Sensex jumps over 500 pts
Stock Market LIVE updates: At 02:02 PM, the BSE Sensex was at 82,051, up 528 points, or 0.65 per cent higher. The rise was led by index heavyweights suchs as HDFC Bank, Bharti Airtel, RIL and M&M.
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The country's largest carmaker company on Wednesday expanded its CNG model range as it rolled out its premium hatchback Swift with S-CNG trims. Read more![]()
Stock Market LIVE Updates: Maruti Suzuki targets to sell 600K CNG vehicles this fiscal: Official
Maruti Suzuki India is looking to sell around 600,000 CNG vehicles in the current fiscal, an increase of around 25 per cent as compared to FY24, according to a senior company executive.
The country's largest carmaker company on Wednesday expanded its CNG model range as it rolled out its premium hatchback Swift with S-CNG trims. Read more
1:32 PM
Stock Market LIVE Updates: Bharti Airtel hits 52-week high on introducing Wi-Fi service in J&K, Ladakh
Bharti Airtel, one of India’s leading telecommunications services providers, today, announced that it has expanded its Home Wi‐Fi service across all the 22 districts of both the union Territories. This expansion will enable to cover 1.1 million new households in both the Union Territories.
Source: BSE
Source: BSE
1:29 PM
The stock of the specialty chemicals company is quoting higher for the 12th straight day, and it has surged 61 per cent during this period. In the past three months, it has zoomed 328 per cent from the level of Rs 64.15 on the BSE. Read more![]()
Stock Market LIVE Updates: This SME stock has surged 61% in 12 days; zoomed 328% in 3 months
Shares of Sudarshan Pharma Industries were locked in upper circuit of 5 per cent at Rs 274.50, which is also the new high the stock created on the BSE in Thursday’s intra-day trade on the back of a three-fold jump in average trading volumes.
The stock of the specialty chemicals company is quoting higher for the 12th straight day, and it has surged 61 per cent during this period. In the past three months, it has zoomed 328 per cent from the level of Rs 64.15 on the BSE. Read more
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Stock Market LIVE Updates: IEX hits 52-week high as Antique retains 'Buy', says coupling risk fading
Indian Energy Exchange (IEX) shares gained 3.2 per cent on the BSE and clocked a 52-week high at Rs 218.65 per share on Thursday. The stock climbed after Antique Stock Broking suggested coupling risk will fade in time given the practical difficulties in its implementation. Read more
1:12 PM
Stock Market LIVE Updates: Sensex at 81,664
Stock Market LIVE updates: At 01:10 PM, the BSE Sensex was at 81,664, up 140 points, or 0.17 per cent higher.
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These stocks are shares of smaller companies with lower market capitalisation; thus prone to irrational market behaviour. However, because of the low stock price, select stocks among these at times turn into multi-baggers. Read more![]()
Stock Market LIVE updates: These 12 penny stocks have zoomed up to 300% in 2024; do you own any?
Penny stocks may not be an ideal investment but they do tend to attract investors' fancy given the lower cost of investments. In general, stocks trading below Rs 10 per share are often considered as penny stocks.
These stocks are shares of smaller companies with lower market capitalisation; thus prone to irrational market behaviour. However, because of the low stock price, select stocks among these at times turn into multi-baggers. Read more
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First Published: Sep 12 2024 | 7:32 AM IST
