Stock Market LIVE Updates: Benchmarks off record highs, Sensex up 300pts at 83,200, Nifty at 25,400
Stock Market LIVE Updates: Indian equity benchmarks BSE Sensex and Nifty 50 were trading at elevated levels, after opening at record levels on Thursday, following the Fed's 50bps rate cut.
 "Stock Market, BSE, Nifty, Capital")
Stock Market, BSE, Nifty, Capital(Photo: Shutterstock)
Stock Market LIVE Updates, Thursday, September 19, 2024: Indian shares climbed to a record high on Thursday, led by information technology stocks after the US Federal Reserve kicked off its monetary easing cycle with a large half percentage point rate reduction.
At 11 AM, the BSE Sensex was at 83,467, up 518 points, or 0.63 per cent, while the Nifty 50 was at 25,513, up 136 points, or 0.54 per cent higher.
The Nifty 50 index gained 0.54 per cent at 25,513 points, while the S&P BSE Sensex added 0.63 per cent at 83,467, as of 11:00 AM.
On Thursday, IT companies, which earn a significant share of their revenue from the US, jumped 1 per cent.
Twelve of the 13 major sectors logged gains. The broader, domestically focussed small- and mid-caps rose about 0.4 per cent each.
Global Market Moves
Meanwhile, overnight in the US, the S&P 500 hit a record high overnight and although it closed slightly lower, futures rose 0.67 per cent in Asia trade.
Nasdaq futures were up 1 per cent. Japan's Nikkei jumped 2.5 per cent and stock markets in Australia and Indonesia hit record highs.
The Fed lowered its window for the benchmark policy rate by 50 basis points to 4.75-5 per cent, where traders had been leaning before the decision.
Ten-year Treasury yields have climbed nearly eight basis points from a day earlier to 3.719 per cent, while gold shot to a record high just shy of $2,600 an ounce, before easing back to steady at $2,559.
The Fed's cut is expected to support spending and the US economy, and encourage other central banks to cut rates.
Policymakers' adjusted their median rates projection downwards, compared with their outlook in July, but Fed chair Jerome Powell emphasised flexibility.
"I do not think that anyone should look at this and say, oh, this is the new pace," Powell told reporters after the outsized cut was announced.
"We're recalibrating policy down over time to a more neutral level. And we're moving at the pace that we think is appropriate, given developments in the economy."
MSCI's broadest index of Asia-Pacific shares outside Japan climbed 0.3 per cent. Hong Kong and China logged broad gains on the view that Beijing is more likely to roll out stimulus now that the Fed has moved.
Chinese bond yields fell. South Korean markets returned from holidays with a thud after a downbeat Morgan Stanley note, which halved SK Hynix's target price.
Oil prices fell and benchmark Brent crude futures were last down 0.3 per cent at $73.42 a barrel.
Around the region, lower US rates in theory give emerging markets leeway to cut their policy rates to support growth. Bank Indonesia moved a few hours before the Fed, with a 25-basis-point cut on Wednesday.
The Bank of England meets later on Thursday and is seen holding rates at 5 per cent, especially after inflation figures showed services inflation picked up in August.
The Bank of Japan sets policy on Friday, and is expected to stand pat but line up future hikes, perhaps as soon as October.
11:24 AM
The company added that following the fresh order, the total amount of the deal to now build eight vessels has reached $108 million.
The company, in an exchange filing, said, "We would like to inform that on 18 Sep 2024, the Company has received a confirmation from the customer to buy and deliver additional four (04) Multi-Purpose Vessels, on the existing terms and conditions."
Regarding the amount for the deal, It added, "Additional Approx. 54 million contract(s) USD for further four vessels. The total value would be approx. 108 million USD for eight vessels."![]()
Stock Market LIVE Updates: Garden Reach to build 4 more vessels for its German client for an additional $54 mn
Stock Market LIVE Updates: Garden Reach Shipuilders and & Engineers today announced that it has received an additional order to build four more vessels for Carsten Rehder Schiffsmakler and Reederei GmbH & Co., KG Germany, for an additional amount of $54 million.
The company added that following the fresh order, the total amount of the deal to now build eight vessels has reached $108 million.
The company, in an exchange filing, said, "We would like to inform that on 18 Sep 2024, the Company has received a confirmation from the customer to buy and deliver additional four (04) Multi-Purpose Vessels, on the existing terms and conditions."
Regarding the amount for the deal, It added, "Additional Approx. 54 million contract(s) USD for further four vessels. The total value would be approx. 108 million USD for eight vessels."
11:13 AM
The company, in an exchange filing, stated, "This is to inform you that yesterday there was a web posting of an article which has also been published on the social media claiming that they have breached the database of Federal Bank, FedNet (an Indian bank) and their associated companies. They are also claiming that they have targeted the Company’s IT infrastructure by Ransomware attack."
The banck further stated, "We wish to clarify that upon thorough investigation by our IT team, it has been confirmed that these claims are unfounded. Our team cross checked the details with internal records and established that the alleged breach pertains to an old, already known, and non-compromising data set from 2022. This appears to be a resurfaced and reshared post with no relevance to current operations."
The company confirmed that there has been no breach of its core systems or any ransomware attack on its infrastructure. ![]()
Stock Market LIVE Updates: Federal Bank rubbishes false reports of fresh data breach, cites old incident
Stock Market LIVE Updates: Federal Bank today informed that reports circulating online about a data breach and ransomware attack are false.
The company, in an exchange filing, stated, "This is to inform you that yesterday there was a web posting of an article which has also been published on the social media claiming that they have breached the database of Federal Bank, FedNet (an Indian bank) and their associated companies. They are also claiming that they have targeted the Company’s IT infrastructure by Ransomware attack."
The banck further stated, "We wish to clarify that upon thorough investigation by our IT team, it has been confirmed that these claims are unfounded. Our team cross checked the details with internal records and established that the alleged breach pertains to an old, already known, and non-compromising data set from 2022. This appears to be a resurfaced and reshared post with no relevance to current operations."
The company confirmed that there has been no breach of its core systems or any ransomware attack on its infrastructure.
11:07 AM
Asian equities, however, saw meaningful gains Thursday morning where Indian equities hit fresh record highs. READ MORE![]()
Stock Market LIVE Updates: Gold, Equities, Oil, Bonds: What next for these assets after Fed rate cut?
Stock Market LIVE Updates: The US Federal Reserve's jumbo rate cut of 50 basis points -- a first since early 2020 -- triggered volatility across various asset classes. The US equities, for instance, ended lower on Wednesday, as did the Spot Gold in the international market.
Asian equities, however, saw meaningful gains Thursday morning where Indian equities hit fresh record highs. READ MORE
11:02 AM
At 11 AM, the BSE Sensex was at 83,467, up 518 points, or 0.63 per cent, while the Nifty 50 was at 25,513, up 136 points, or 0.54 per cent higher. ![]()
Stock Market LIVE Updates: 11 AM market update
Stock Market LIVE Updates: Indian benchmark indices BSE Sensex and Nifty 50 were trading at elevated levels after opening at fresh all-time highs on Thursday, following Federal Reserve Chiar Jerome Powell's announcement of a 50bps rate cut on Wednesday evening.
At 11 AM, the BSE Sensex was at 83,467, up 518 points, or 0.63 per cent, while the Nifty 50 was at 25,513, up 136 points, or 0.54 per cent higher.
10:55 AM ![]()
Stock Market LIVE Updates: Why did Mphasis, Nifty IT gain up to 4% after US Fed cut rates by 50 bps?
Stock Market LIVE Updates: Information technology (IT) stocks were buzzing in trade on Thursday, September 19, 2024, with some shares rising by as much as 4 per cent during intraday trading.
The Nifty IT index climbed 1.80 per cent, reaching an intraday high of 42,850.45 points, after the US Fed cut interest rates. Notably, Nifty IT was the top sectoral gainer. READ MORE
10:46 AM![]()
Stock Market LIVE Updates: Will the BSE Sensex hit 90,000-mark by Dec 2024? Here's what chart says
Stock Market LIVE Updates: The BSE Sensex rallied 1 per cent or 826 points in Thursday's intra-day deals to hit a new all-time high at 83,774 following a 50 basis points interest rate cut announced by the US Federal Reserve.
Analysts believe that availability of cheaper funds in the US could attract more foreign inflows to markets such as India. READ MORE
Analysts believe that availability of cheaper funds in the US could attract more foreign inflows to markets such as India. READ MORE
10:30 AM
Policymakers, according to reports, expect the Fed's benchmark to fall another half of a percentage point by 2024-end, and another one per cent in 2025. READ MORE![]()
Stock Market LIVE Updates: US Fed rate cut: How leading brokerages interpret the development
Stock Market LIVE Updates: The US Federal Reserve (US Fed) has cut the target range for the federal funds rate by 50 basis points (bps), from 5.25 - 5.5 per cent earlier to 4.75 - 5.00 per cent on Wednesday,the first time since 2020. The cut comes amid concerns regarding the job market in the US, and ahead of the US presidential elections in November 2024.
Policymakers, according to reports, expect the Fed's benchmark to fall another half of a percentage point by 2024-end, and another one per cent in 2025. READ MORE
10:15 AM ![]()
Stock Market LIVE Updates: Bharti Airtel becomes 4th listed company to cross Rs 10 trillion market cap
Stock Market LIVE Updates: The market capitalisation of major telecom service provider Bharti Airtel crossed Rs 10 trillion for the first time ever after the company's stock price hit a new high of Rs 1,673.35, gaining 1 per cent on the Bombay Stock Exchange (BSE) in Thursday’s intra-day trade. READ MORE
10:02 AM
At 10 AM, the BSE Sensex was at 83,538, up 590 points, or 0.71 per cent, while the Nifty 50 was at 25,531, up 154 points, or 0.61 per cent higher.![]()
Stock Market LIVE Updates: Sensex, Nifty open at record highs after 50bps cut by US Fed
Stock Market LIVE Updates: Indian benchmark indices BSE Sensex and Nifty 50 were trading at fresh all-time highs on Thursday, after Jerome Powell-led US Federal Reserve announced a 50bps rate cut on Wednesday evening.
At 10 AM, the BSE Sensex was at 83,538, up 590 points, or 0.71 per cent, while the Nifty 50 was at 25,531, up 154 points, or 0.61 per cent higher.
9:59 AM ![]()
Stock Market LIVE Updates: Dividend, Bonus, Split: RITES, NALCO, 121 others stocks go ex-date tomorrow
Stock Market LIVE Updates: Shares of Goodluck India, National Aluminium Company (NALCO), National Fertilizers, and 114 other companies will trade ex-date tomorrow as they have the dividend payouts for the eligible shareholders.
Meanwhile, shares of RITES will trade ex-date tomorrow for the dividend payout of Rs 5 apiece, as well as for a bonus issue in the ratio of 1:1. Accordingly, the eligible shareholders will get 1 share each for every one existing share. READ MORE
9:57 AM
At around 9:18 AM, shares of SpiceJet were up 3.44 per cent at Rs 71.48 per share. In comparison, the BSE Sensex traded 584.12 points higher at 83,532.35, around the same time. READ MORE![]()
Stock Market LIVE Updates: SpiceJet shares fly high after Rs 3000 crore QIP oversubscribed
Stock Market LIVE Updates: SpiceJet shares surged over 8 per cent and registered an intraday high of Rs 74.7 per share. The stock surged after reports said the airline has received a good response for its Rs 3,000 crore-worth sale of shares to qualified institutional buyers.
At around 9:18 AM, shares of SpiceJet were up 3.44 per cent at Rs 71.48 per share. In comparison, the BSE Sensex traded 584.12 points higher at 83,532.35, around the same time. READ MORE
9:55 AM ![]()
Stock Market LIVE Updates: Aditya Birla Capital climbs 2.5% on RBI approval to merge with AB Finance
Stock Market LIVE Updates: The RBI has approved the merger of Aditya Birla Finance with Aditya Birla Capital.
9:52 AM ![]()
Stock Market LIVE Updates: Tata Power gains on plans to double solar cell and module production capacity
Stock Market LIVE Updates: The company plans to double its solar cell and module manufacturing capacity over three years to mitigate supply chain risks. The company is also investing in energy storage solutions and has committed Rs 75,000 crore to achieve 20 GW operational capacity by 2030.
9:46 AM ![]()
Stock Market LIVE Updates: NTPC climbs 4% on plans to list green energy arm
Stock Market LIVE Updates: The company has filed for an IPO of its green energy arm, NTPC Green Energy Ltd, with an aim to raise approximately $1.2 billion (Rs 10,000 crore). The company focuses on renewable energy projects and hydrogen production.
9:40 AM ![]()
Stock Market LIVE Updates: Nazara Technologies sheds 3%
Stock Market LIVE Updates: Nazara Technologies has approved a preferential equity issue to raise Rs 900 crore and increased its stake in Absolute Sports, which operates Sportskeeda, to 91 per cent.
Topics : MARKET LIVE MARKETS LIVE MARKETS TODAY Markets Sensex Nifty S&P BSE Sensex Gift Nifty Nifty50 Nifty 50 share market stock market trading Global stock markets US stock market Asia stocks Asian markets Indian markets Indian market
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First Published: Sep 19 2024 | 7:49 AM IST
