Stock Market LIVE Updates: Sensex, Nifty near record highs; Hero Moto, Bajaj Auto, Airtel lead
Stock Market LIVE Updates: Indian markets were holding steady near record highs on Tuesday, as investors awaited key policy announcement and commentary from the US Federal Reserve.
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Stock Market LIVE Updates, Tuesday, September 17, 2024: Indian shares were trading steady near their all-time highs on Tuesday, with traders expecting marginal moves ahead of the US Federal Reserve's widely expected interest rate cut a day later.
At 2:00 PM, the BSE Senesex was up 128 points, or 0.15 per cent, at 83,117, while the Nifty 50 was at 25,427, up 44 points, or 0.17 per cent. They hit record highs on Monday.
Hero MotoCorp, Bajaj Auto, Bharti Airtel, NTPC, Britannia Industries, Cipla, M&M, Kotak Bank, and Shriram Finance were the top Nifty gainers, rising up to 3 per cent.
In the broader markets, the Nifty MidCap 100 was flat, while the Nifty SmallCap index was down 0.13 per cent.
While the Fed is widely expected to cut rates on Wednesday, after Indian markets close, the uncertainty is over the size of the cut--by 25 basis points or 50 basis points.
The odds of a 50-bps cut have climbed recently--to 67 per cent from 50 per cent last week-- which raises the chances of foreign investors shifting funds to emerging markets such as India in search of higher returns.
However, the likelihood of a bigger rate cut has also prompted fears that the Fed may have started its easing cycle a little too late. For the year, though, markets have priced in roughly 120bps worth of easing by December.
That apart, Asian stocks gained on Tuesday while the dollar and US Treasury yields came under pressure.
Extended holidays in China and South Korea made for thin trading conditions, with investors focused on Wednesday's Fed decision.
A stronger yen stoked concerns about Japanese exporters' earnings and pulled down Tokyo's Nikkei by 2 per cent as the market returned from a national holiday on Monday.
Outside Japan, MSCI's broadest index of Asia-Pacific shares rose 0.47 per cent. Hong Kong's Hang Seng Index advanced 1.44 per cent.
S&P 500 futures and Nasdaq futures both eased marginally, though EUROSTOXX 50 futures tacked on 0.33 per cent and FTSE futures gained 0.57 per cent.
The two-year US Treasury yield, which typically reflects near-term rate expectations, was last at 3.5547 per cent, having fallen to a
two-year low of 3.5280 per cent in the previous session.
The benchmark 10-year yield was little changed at 3.6232 per cent.
The Bank of England (BoE) and the Bank of Japan (BOJ) also meet this week to discuss monetary policy, where both central banks are seen keeping rates on hold.
Elsewhere in Asia, China's stuttering economic recovery continued to weigh on sentiment.
Still, concerns over faltering Chinese demand for oil were overshadowed by the ongoing impact of Hurricane Francine on output in the US Gulf of Mexico, sending oil prices rising on Tuesday.
Brent crude futures rose 0.44 per cent to $73.07 a barrel, while U.S. crude futures gained 0.67 per cent to $70.56 per barrel.
Spot gold eased 0.22 per cent to $2,576.84 an ounce.
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Stock Market LIVE Updates: Recently listed IPO soars 20%; jumps 78% over issue price in 10 days
Stock Market LIVE Updates: Shares of ECOS (India) Mobility & Hospitality (ECOS) were locked in the 20-per cent upper circuit, at Rs 592.95, on the BSE in Tuesday's intraday trade. In the past 10 trading days, the stock of the road transport company has zoomed 78 per cent over its issue price of Rs 334 per share. ECOS made its stock market debut on September 4, 2024. READ MORE
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Stock Market LIVE Updates: iBUS Network and Infrastructure receives Rs 280 crore investment from IFC
Stock Market LIVE Updates: iBUS Network and Infrastructure, a digital infrastructure solutions provider, announced today that it has secured an investment of Rs 280 crore ($34 million) from the International Finance Corporation (IFC), a member of the World Bank Group, for a minority stake in the company. READ MORE
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Stock Market LIVE Updates: BSE defers IT services firm Trafiksol's IPO after investors' concern
Stock Market LIVE Updates: In an unprecedented move, BSE has postponed the listing of Trafiksol ITS Technologies, which was scheduled for Tuesday, amid investor concerns over the company's fundamentals, balance sheet, and utilisation of issue proceeds. The Rs 45-crore initial public offering (IPO) by the small and medium-sized enterprise (SME) firm had garnered bids worth over Rs 10,000 crore. READ MORE
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Stock Market LIVE Updates: TaMo-JLR will be making EVs in India for global markets, says N Chandra
Stock Market LIVE Updates: Tata Motors and Jaguar Land Rover (JLR) will now manufacture electric vehicles in India for global markets, Tata Sons chairman N Chandrasekaran said in a recent interview. Speaking to Autocar, Chandrasekaran stated that both Tata Motors and JLR have been exploring synergies for years and have now finalised plans to manufacture electric vehicles in India for global markets. READ MORE
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Stock Market LIVE Updates: Wipro announces 8% salary hikes for top performing employees in 2024
Stock Market LIVE Updates: Indian IT major Wipro Ltd is set to roll out salary hikes for employees starting September 2024, with top performers expected to receive an average increase of 8 per cent, according to a report by Mint. This marks an improvement on last year’s average increment of around 6 per cent, with most of the company’s offshore employees benefitting from the new salary structure. READ MORE
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Stock Market LIVE Updates: Torrent Power zooms 7%, nears record high on signing MoU with Gujarat govt
Stock Market LIVE Updates: Torrent Power share price today climbed 6.7 per cent to Rs 1,900.7 per share on the BSE in Tuesday's intraday trade. The shares, however, pared gains later to trade just 1.2 per cent higher at Rs 1,801 per share at 1:20 PM. By comparison, the benchmark BSE Sensex was up 85 points (0.10 per cent). READ MORE
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Stock Market LIVE Updates: WPI inflation drops to 4-month low of 1.31% in Aug on lower prices
Stock Market LIVE Updates: India’s wholesale price index (WPI)-based inflation cooled to a four-month low of 1.31 per cent in August, down from 2.04 per cent in July and mainly due to a reduction in the prices of manufactured products and food items.
Food price inflation stood at 3.11 per cent, compared to 3.45 per cent in July, according to data released by the Commerce Ministry on Tuesday. Prices of other major sub-indices, such as manufactured products, decelerated. Prices of fuel and power contracted too. READ MORE
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Till 12:36 PM, a combined 39.9 million shares, representing 1.08 per cent equity of Tata Motors, had changed hands on the NSE (34.8 million shares) and BSE (5.09 million shares), exchange data showed. READ MORE![]()
Stock Market LIVE Updates: Tata Motors dips 3% on heavy volumes; stock down 13% so far in September
Stock Market LIVE Updates: Shares of Tata Motors dipped 3 per cent to Rs 960.65 on the National Stock Exchange (NSE) in Tuesday’s intra-day trade amid heavy volumes.
Till 12:36 PM, a combined 39.9 million shares, representing 1.08 per cent equity of Tata Motors, had changed hands on the NSE (34.8 million shares) and BSE (5.09 million shares), exchange data showed. READ MORE
1:33 PM
The unlisted shares of Arkade Developers were trading at a premium of Rs 86, which translates to a GMP of 67.19 per cent against the upper end of the IPO price of Rs 128, according to several sources tracking grey market activities. READ MORE![]()
Stock Market LIVE Updates: Arkade Developers IPO: 67% GMP, 10.8x subscription; should you bid?
Stock Market LIVE Updates: The grey market premium (GMP) of real estate development company, Arkade Developers, continues to march northward on the second day of its subscription, reflecting continuous demand for the IPO among investors.
The unlisted shares of Arkade Developers were trading at a premium of Rs 86, which translates to a GMP of 67.19 per cent against the upper end of the IPO price of Rs 128, according to several sources tracking grey market activities. READ MORE
1:24 PM
The uptick in the JK Tyre & Industries share price came after the company’s board approved the merger with Cavendish Industries. Cavendish Industries is engaged in developing, manufacturing, marketing and distributing automotive tyres, tubes and flaps. READ MORE ![]()
Stock Market LIVE Updates: JK Tyre & Ind board okays merger with Cavendish Industries; stock gains 3%
Stock Market LIVE Updates: Shares of tyre manufacturer JK Tyre & Industries (JK Tyre) sored as much as 2.50 per cent to hit an intraday high of Rs 452.40 per share.
The uptick in the JK Tyre & Industries share price came after the company’s board approved the merger with Cavendish Industries. Cavendish Industries is engaged in developing, manufacturing, marketing and distributing automotive tyres, tubes and flaps. READ MORE
1:13 PM
The company added that the Industrial License undertaking to manufacture the above mentioned items shall be "located at Aerospace SEZ Sector, Plot No 29,30 & 107, Southern Block, Hitech, Defence and Aerospace Park, Kavadadasanahalli, Hobli, Devanahalli, Channarayapatna, Bengaluru, Karnataka-562110."
Stock Market LIVE Updates: DCX Systems arm gets approval to make defence equipment at Cochin and Bengaluru SEZ
Stock Market LIVE Updates: DCX Systems today announced that its subsidiary Raneal Advanced Systems has received approval for the manufacture of defence equipments at Cochin and Bengaluru SEZs.
The company, in an exchange filing, said, "We wish to inform that the Industrial Licensing Section, Office of the Development Commissioner Cochin Special Economic Zone (CSEZ), EOU’s & SEZ’s in Karnataka, Ministry of Commerce & Industry, Government of India, has granted Industrial license to our wholly owned Subsidiary M/s Raneal Advanced Systems Private Limited for manufacturing of the following item(s):
(1) Production, Assembly and Testing of Microwave Submodules for command and guidance units for Missile Subsystems; (2) Integration and Manufacture of Avionics & Defence Electronic Equipment; and (3) Production, Assembly and Testing of Radar Systems and EW Systems".
The company added that the Industrial License undertaking to manufacture the above mentioned items shall be "located at Aerospace SEZ Sector, Plot No 29,30 & 107, Southern Block, Hitech, Defence and Aerospace Park, Kavadadasanahalli, Hobli, Devanahalli, Channarayapatna, Bengaluru, Karnataka-562110."
1:02 PM
At 1:00 PM, the BSE Senesex was up 128 points, or 0.15 per cent, at 83,117, while the Nifty 50 was at 25,427, up 44 points, or 0.17 per cent.![]()
Stock Market LIVE Updates: 1 PM market update
Stock Market LIVE Updates: Benchmarks BSE Sensex and Nifty 50 were near their record highs on Tuesday, ahead of key policy announcement by the Federal Reserve scheduled for Wednesday.
At 1:00 PM, the BSE Senesex was up 128 points, or 0.15 per cent, at 83,117, while the Nifty 50 was at 25,427, up 44 points, or 0.17 per cent.
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Stock Market LIVE Updates: Northern Arc Capital IPO Day 2: Subscription soars, GMP up 67%; bid or not?
Stock Market LIVE Updates: The initial public offering of Northern Arc Capital has been witnessing overwhelming responses from the investors, as the issue has received bids for a whopping 11,95,44,003 shares, against 2,08,68,467 shares offered, resulting in an oversubscription of 5.73 times so far, riding on the back of the retail investors who placed the bid for 8.51. READ MORE
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Stock Market LIVE Updates: Hero MotoCorp up 3%, at record high on positive outlook; zooms 95% in 1 yr
Stock Market LIVE Updates: Shares of Hero MotoCorp (HMCL) hit a record high of Rs 5,970, after its shares rallied 3 per cent on the BSE in Tuesday’s intra-day trade amid heavy volumes.
The stock of the company gained on the back of a positive outlook, as the company has seen favourable trends across its domestic, electric vehicle (EV) and global businesses, in the last quarter. READ MORE
12:31 PM
At around 11:11 AM, shares of Reliance Infrastructure were up 6.28 per cent at Rs 229.3 per share. The BSE Sensex, at around the same time, was trading 28.32 points higher at 83,017. READ MORE ![]()
Stock Market LIVE Updates: Reliance Infrastructure gains 8% on plans to raise long-term funds
Stock Market LIVE Updates: Reliance Infrastructure shares surged as much as 8 per cent and logged an intraday high of Rs 232.8 on the BSE on Tuesday's trading session. The courter saw buying after the company announced the schedule of a board meeting to discuss raising long-term funds.
At around 11:11 AM, shares of Reliance Infrastructure were up 6.28 per cent at Rs 229.3 per share. The BSE Sensex, at around the same time, was trading 28.32 points higher at 83,017. READ MORE
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First Published: Sep 17 2024 | 7:41 AM IST
