Stock Market LIVE Updates: Nifty tests 25,500, Sensex at 83,200 after record highs; Financials surge
Stock Market LIVE Updates: Indian markets were trading at elevated levels after hitting fresh all-time highs on Wednesday, ahead of the US Fed's policy decision announcement later in the day.
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Representative Picture
Stock Market LIVE Updates, Wednesday, September 18, 2024: Indian equity benchmark indices BSE Sensex and Nifty50 climbed to hit fresh all-time highs on Wednesday, as investors awaited the US Federal Reserve's policy decision announcement later in the day.
At 12:00 PM, the BSE Sensex was up 164 points, or 0.20 per cent, at 83,244, while the Nifty50 was at 25,464, up 46 points, or 0.18 per cent.
On Tuesday in the domestic markets, benchmark equity indices, BSE Sensex and Nifty50, had ended with gains. The 30-share Sensex advanced 90.88 points or 0.11 per cent to 83,079.66, while the NSE Nifty50 added 34.80 points or 0.14 per cent to settle at 25,418.55.
That apart, India’s trade deficit widened to a 10-month high of $29.7 billion in August, as imports hit a record high of $64.4 billion on doubling gold imports. Exports contracted for the second month in a row to $34.7 billion due to softening oil prices and muted global demand.
Additionally, the country's wholesale price index (WPI)-based inflation eased to a four-month low of 1.31 per cent on an annual basis in August, from 2.04 per cent in July, data released by the Ministry of Commerce and Industry showed on Tuesday.
Meanwhile, markets in the Asia-Pacific region opened mixed on Wednesday, following gains on Wall Street that saw both the S&P 500 and the Dow Jones Industrial Average record new highs.
Australia’s S&P/ASX 200 was down slightly, while Japan’s Nikkei 225 climbed 0.74 per cent and the broad-based Topix was up 0.48 per cent.
Mainland China’s CSI 300 was nearly flat, and the Taiwan Weighted Index was down 0.35 per cent.
South Korea and Hong Kong markets are closed today while markets in mainland China will resume trade after a three-day holiday there.
That apart, the US stock markets ended nearly flat after hitting record highs on Tuesday, while the dollar stood firm as strong economic data allayed fears of a slowdown and investors braced for the Federal Reserve's expected move to cut interest rates for the first time in more than four years.
Signs of a slowing job market over the summer and more recent media reports had contributed in the past week to betting the Federal Reserve would move more drastically than usual at its meeting on Wednesday and shave off half a percentage point in policy rates, to head off any weakness in the US economy.
Data on Tuesday showed US retail sales rose in August and production at factories rebounded. Stronger data could theoretically weaken the case for a more aggressive cut.
Across the broader market, traders are still betting on a 63 per cent probability that the Fed will cut rates by 50 basis points on Wednesday and a 37 per cent probability of a 25 basis-point cut, according to CME Group's FedWatch tool.
The S&P 500 rose to an all-time intraday high at one point in the session, but flattened in afternoon trading and closed 0.03 per cent higher at 5,634.58. The Dow Jones Industrial Average fell 0.04 per cent, to 41,606.18.
The tech-heavy Nasdaq Composite bucked the Wall Street trend to close 0.20 per cent higher at 17,628.06, while MSCI's All-World index rose 0.04 per cent to 828.72.
The dollar perked up from its recent lows against most major currencies and stayed higher throughout the day.
Beyond the US, the Bank of England (BoE) and the Bank of Japan (BOJ) are also scheduled to meet this week to discuss monetary policy, but unlike the Fed, they are expected to keep rates on hold.
The two-year US Treasury yield, which typically reflects near-term rate expectations, rose 4.4 basis points to 3.5986 per cent, having fallen to a two-year low of 3.528 per cent in the previous session.
The benchmark 10-year yield rose 2.3 basis points to 3.644 per cent, from 3.621 per cent late on Monday.
Oil prices rose as the industry continued to survey the impact of Hurricane Francine on output in the US Gulf of Mexico. Meanwhile, the government in India slashed windfall tax on domestically produced crude oil to 'nil' per tonne with effect from September 18 on Tuesday.
US crude settled 1.57 per cent higher at $71.19 a barrel. Brent finished the day at $73.7 per barrel, up 1.31 per cent.
Spot gold slid 0.51 per cent to $2,569.51 an ounce, having touched a record high on Monday.
12:27 PM ![]()
Stock Market LIVE Updates: Inox Wind up 3%; receives LoI from IGREL Renewables for 550 Mw wind project
Stock Market LIVE Updates: Inox Wind share price today rose 3.4 per cent to Rs 253.1 per share in the intraday trade on the BSE. The share price was close to Inox Wind's stock's record high of Rs 254.2 per share, touched on September 16, 2024.
The rise in Inox Wind shares came after the company received a Letter of Intent (LoI) from IGREL Renewables Ltd for execution of 550 megawatt (Mw) wind capacity on turnkey basis. READ MORE
12:14 PM ![]()
Stock Market LIVE Updates: Reliance Infra rises 8% on paring debt, resolving power business dispute
Stock Market LIVE Updates: Reliance Infrastructure shares soared as much as 8 per cent and registered an intraday high of Rs 254.4 per share, after the company informed that it has pared down its debt.
On top of that, the company also announced that it has resolved the disputes related to the transfer of its Mumbai power business to Adani Energy Solutions. READ MORE
On top of that, the company also announced that it has resolved the disputes related to the transfer of its Mumbai power business to Adani Energy Solutions. READ MORE
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Stock Market LIVE Updates: Infy, TCS, LTIM: Pivot levels to track on IT stocks as Fed readies rate cut
Stock Market LIVE Updates: The NSE Nifty IT index has taken a sharp hit, and was down 3 per cent to 42,200 levels on profit-taking in intra-day deals on Wednesday just hours before the US Federal Reserve policy decision tonight. In comparison, the NSE Nifty 50 index was seen trading on a flat note at 25,400 levels. READ MORE
12:01 PM
At 12:00 PM, the BSE Sensex was up 164 points, or 0.20 per cent, at 83,244, while the Nifty50 was at 25,464, up 46 points, or 0.18 per cent.![]()
Stock Market LIVE Updates: 12 PM market update
Stock Market LIVE Updates: Indian equity benchmark indices were trading at elevated levels after hitting fresh all-time highs in early trades on Wednesday, ahead of the much anticipated US Federal Reserve's policy decision later in the day.
At 12:00 PM, the BSE Sensex was up 164 points, or 0.20 per cent, at 83,244, while the Nifty50 was at 25,464, up 46 points, or 0.18 per cent.
11:51 AM
"Almost all the companies need new launches to achieve their guidance or 25 per cent year-on-year (Y-o-Y) sales booking growth," Antique said. It expects new launches to gain momentum in the second half of the current financial year (H2FY25). READ MORE ![]()
Stock Market LIVE Updates: New launches key to achieve sales guidance for real estate players: Antique
Stock Market LIVE Updates: Brokerage firm Antique Stock Broking reckons realty players in the sector could surpass their FY25 guidance and record another stellar performance provided the companies continue launching new projects.
"Almost all the companies need new launches to achieve their guidance or 25 per cent year-on-year (Y-o-Y) sales booking growth," Antique said. It expects new launches to gain momentum in the second half of the current financial year (H2FY25). READ MORE
11:45 AM![]()
Stock Market LIVE Updates: Mphasis, Infosys fall up to 6%, Nifty IT 3% ahead of Fed rate cut decision
Stock Market LIVE Updates: Shares of information technology (IT) companies slipped up to 6 per cent on the National Stock Exchange (NSE) in Wednesday's intra-day trade as investors booked profit in the stocks ahead of a crucial Federal Reserve interest-rate decision.
Mphasis, Persistent Systems, Tech Mahindra, L&T Technology Services (LTTS), Infosys, Wipro, LTIMindtree, Tata Consultancy Services (TCS), Coforge, and HCL Technologies slipped in the range of 3 per cent to 6 per cent in the intraday trade. READ MORE
11:34 AM
At 11:00AM, DCM Shriram Industries share price was trading 3.66 per cent higher at Rs 199.55 as against the Sensex's 0.21-per cent rise. READ MORE ![]()
Stock Market LIVE Updates: DCM Shriram Industries gains 4% as BSE issues clears merger proposals
Stock Market LIVE Updates: DCM Shriram share price today: Shares of DCM Shriram Industries climbed 3.8 per cent to Rs 200 per share on the BSE on Wednesday. The gain in DCM Shriram Industries share price came after the BSE issued "no adverse" observations against the companies proposed merger plan.
At 11:00AM, DCM Shriram Industries share price was trading 3.66 per cent higher at Rs 199.55 as against the Sensex's 0.21-per cent rise. READ MORE
11:21 AM ![]()
Stock Market LIVE Updates: REC shares gain over 3%: Here's what's fueling the 'Maharatna' stock today
Stock Market LIVE Updates: Shares of state-owned Non-Banking Finance Company (NBFC), REC, climbed 3.41 per cent to Rs 563.25 during intra-day trade on Wednesday.
The uptick in the 'Maharatna' stock price follows the news that the company has signed non-binding Memorandums of Understanding (MoUs) with RE developers aggregating about Rs 1.12 lakh crore, at the 4th Global Renewable Energy Investors Meet & Expo (RE-INVEST 2024), at Gandhinagar, Gujarat. READ MORE
The uptick in the 'Maharatna' stock price follows the news that the company has signed non-binding Memorandums of Understanding (MoUs) with RE developers aggregating about Rs 1.12 lakh crore, at the 4th Global Renewable Energy Investors Meet & Expo (RE-INVEST 2024), at Gandhinagar, Gujarat. READ MORE
11:08 AM ![]()
Stock Market LIVE Updates: ONGC, OIL rise up to 2.5% as govt cuts windfall tax on crude oil to nil
Stock Market LIVE Updates: Shares of oil exploration companies gained in trade on Wednesday, bucking the tepid market sentiment, as the government removed windfall tax on domestically produced crude oil, effective September 18.
Individually, Abans Offshore share price advanced 2.5 per cent, Hindustan Oil Exploration, and Oil India share prices rose 1.9 per cent each, ONGC share price 1.2 per cent, and Selan Exploration 1.5 per cent. By comparison, the BSE Sensex was up 26 points at 83,100 level at 9:55 AM. READ MORE
10:59 AM 
Stock Market LIVE Updates: Nifty Financial Services at record high
- Nifty Financial Services index zoomed to record high levels of 24,308.85, led by Bajaj Finance, and PFC.
- All constituents of Nifty Financial Services were in the green, except for SBI Cards, and IDFC.
10:55 AM
Stock Market LIVE Updates: Bajaj Finance, Shriram Finance among the top gainers
Stock Market LIVE Updates: Bajaj Finance, Shriram Finance, Hero MotoCorp, HDFC Bank, and SBI Life Insurance Company were leading gains of up to 2.50 per cent among the 50 constituent stocks of Nifty50.
10:50 AM
Stock Market LIVE Updates: Banking, Financial Services shares lead
Stock Market LIVE Updates: Nifty Financial Services, and Bank Nifty indices were leading the gains among the sectoral indices with a surge of over 1 per cent each.
10:45 AM ![]()
Stock Market LIVE Updates: Sensex, Nifty hit record high
Stock Market LIVE Updates: The Sensex surged northward to hit the record high level of 83,310.32, while the NSE Nifty50 rose to a fresh high of 25,478.60.
10:38 AM![]()
Stock Market LIVE Updates: New launches key to achieve sales guidance for real estate players: Antique
Stock Market LIVE Updates: Brokerage firm Antique Stock Broking reckons realty players in the sector could surpass their FY25 guidance and record another stellar performance provided the companies continue launching new projects. READ MORE
10:32 AM![]()
Stock Market LIVE Updates: US labour market is robust, says Timothy Moe of Goldman Sachs
- US labour market is robust
- Think growth environment is great for equities
- Fed rate cut has not been very influential on Indian markets vs other Asian peers
- India's valuation concerns holding investors back
Says Timothy Moe of Goldman Sachs to CNBC TV18
- Think growth environment is great for equities
- Fed rate cut has not been very influential on Indian markets vs other Asian peers
- India's valuation concerns holding investors back
Says Timothy Moe of Goldman Sachs to CNBC TV18
Topics : MARKET LIVE MARKETS LIVE MARKETS TODAY Markets Sensex Nifty S&P BSE Sensex US Fed monetary policy US Fed rates US Fed interest rate US Federal Reserve Gift Nifty Nifty50 Nifty 50 stock market trading global stock market Global stock markets Indian stock market Asia Markets Asian markets US markets US market india market
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First Published: Sep 18 2024 | 7:57 AM IST
