Stock Market LIVE Updates: Indian benchmarks set for higher open, led by Wall Street, Asian markets
Stock Market LIVE Updates: Markets in India were headed for a strong open on Friday, led by overnight gains on the Wall Street, which was driving Asian markets higher as well.
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Stock Market LIVE Updates, Friday, September 20, 2024: Markets in India were headed for a strong open on Friday, led by overnight gains on the Wall Street, which was driving Asian markets higher as well.
At 7:25 AM, GIFT Nifty futures were at 25,533, around 50 points higher than Nifty futures' last close.
Despite a choppy trading session, the Indian markets ended on a higher note on Thursday, with the BSE Sensex adding 236.57 points, or 0.29 per cent, to close at 83,184.80. It had touched an all-time high of 83,773.61 during the day's session.
Meanwhile, the Nifty 50 pulled back from the record high it had touched at 25,611.95, to close Thursday's session at 25,415.80, up 38.25 points or 0.15 per cent .
However, the border markets closed lower, with smallcap stocks dragging the most.
Across sectors, Bank Nifty advanced for the sixth consecutive session, led by AU Bank and Kotak Bank. Nifty FMCG was the top sectoral gainer, ending 0.60 per cent higher, led by UBL and Balrampur Chini Mills.
Nifty Realty advanced 0.5 per cent to its 1-month high, led by Phoenix and Oberoi Realty. Meanwhile, Media, PSU Bank, Metal Pharma, IT, and OMCs indices settled lower among the sectors.
Meanwhile, markets in the Asia-Pacific region opened higher on Friday, following the surge on Wall Street.
Japan's Nikkei 225 was leading gains, up 1.76 per cent, while Australia’s S&P/ASX 200 climbed 0.2 per cent. The broad-based Topix was ahead by 1.63 per cent.
South Korea’s blue chip Kospi had advanced 1.45 per cent and the small-cap Kosdaq was up 1.51 per cent.
Hong Kong’s Hang Seng index futures were at 18,177, higher than HSI’s last close of 18,013, while futures tied to mainland China’s blue chip CSI 300 stood at 3,198.8, compared with the index’s last close of 3,196.
Overnight, major Wall Street indices broke record highs after global counterparts booked gains and Treasury yields rose on Thursday as the start of the Federal Reserve's first rate-cutting cycle in more than four years whet investors' risk appetite.
With a larger-than-usual move on Wednesday, the US central bank turned the page on more than a year in which borrowing costs were kept at their highest for decades to try to temper inflation.
Fed Chair Jerome Powell said he did not see elevated risks of a slowdown, and policymakers projected the benchmark rate would fall again, reflected in a closely-watched tool known as a dot plot.
Megacap tech stocks gained, with Tesla and Meta posting solid gains. The tech-heavy Nasdaq Composite climbed 2.51 per cent to 18,013.98 points.
The blue-chip Dow Jones Industrial average rose 1.26 per cent to 42,025.19 points, while the benchmark S&P 500 advanced 1.70 per cent to end the session at 5,713.64 points. Both were record-high closing levels.
Smaller listed companies, which might be expected to enjoy reduced operating costs and cheaper debt in a lower rates environment, also felt the benefit. The Russell 2000 small-cap index rose 2.1 per cent.
Gains were not limited to Wall Street. MSCI's 47-country world stocks index gained 1.66 per cent, to 839.98.
Jobless claims for the week ended Sept. 14 came in lower than the market expected, with data showing the number of Americans filing new applications for unemployment benefits dropped to a four-month low.
This contributed to a sell-off in US government debt that pushed up yields. The benchmark 10-year Treasury yield hit its highest level in about two weeks at 3.768 per cent and was last up 3.2 basis points to 3.719 per cent, from 3.687 per cent late on Wednesday.
Shorter-dated debt yields felt pressure after a separate data release showed existing home sales fell to their lowest level since 2023. The 2-year note yield, fell 1.5 basis points to 3.5876 per cent, from 3.603 per cent late on Wednesday.
In currency markets, the dollar wilted in choppy trading. The dollar index, which measures the greenback against a basket of currencies including the yen and the euro, fell 0.41 per cent to 100.61.
The Bank of England's decision to leave interest rates unchanged did not dampen market spirits in Europe, with the STOXX 600 index last up more than 1 per cent.
The bonanza week for interest rate decisions continues on Friday with the Bank of Japan. It is not expected to make a move now, but may buck the global trend and line up another rate hike for as soon as October.
Gold rose 1.15 per cent to $2,588.34 an ounce.
Oil prices rose, backed by the view that lower rates equal stronger demand. Benchmark Brent crude futures climbed back above $74 a barrel for the first time in more than a week, and settled at $74.88, 1.67% higher on the day. US crude settled 1.47 per cent higher, at $71.95 a barrel.
8:10 AM![]()
Stock Market LIVE Updates: India should establish clear obligations for domestic PEPs: FATF
Stock Market LIVE Updates: India needs to establish due diligence on domestic politically exposed persons (PEP), tighten checks on transactions involving gems and jewellery, and protect the non-profit sector from terrorist abuse, said the global anti-money laundering and terror financing body, Financial Action Task Force (FATF), on Thursday. READ MORE
8:09 AM![]()
Stock Market LIVE Updates: Nifty Pharma, FMCG indices range-bound; Check support and other levels here
Stock Market LIVE Updates: The Nifty Pharma Index is currently trading in a defined range between 23,700 and 22,700.
This suggests that the market is experiencing indecision, with neither buyers nor sellers dominating. READ MORE
This suggests that the market is experiencing indecision, with neither buyers nor sellers dominating. READ MORE
8:07 AM![]()
Stock Market LIVE Updates: In export push, govt steps in to raise container capacity amid shortage
Stock Market LIVE Updates: Concerned over the fallout of the Red Sea crisis and severe shortage of containers against the backdrop of a steep decline in merchandise exports in August, the Union government is pulling out all the stops to find a solution.
To begin with, the government has devised a strategy aimed at boosting container supply and supporting exporters. READ MORE
To begin with, the government has devised a strategy aimed at boosting container supply and supporting exporters. READ MORE
8:05 AM
The last time liquidity was in the deficit was on June 27. On Wednesday, the liquidity deficit stood at Rs 2,626 crore, according to the latest data by the Reserve Bank of India (RBI).
Consequently, RBI announced on Thursday that it plans to conduct a 14-day variable rate repo (VRR) auction on Friday to infuse up to Rs 25,000 crore in the banking system. READ MORE![]()
Stock Market LIVE Updates: RBI to infuse Rs 25K cr via VRR as liquidity turns deficit after two months
Stock Market LIVE Updates: Banking system liquidity fell into deficit mode on Tuesday after more than two months on the back of GST outflows and advanced tax payments, market participants said.
The last time liquidity was in the deficit was on June 27. On Wednesday, the liquidity deficit stood at Rs 2,626 crore, according to the latest data by the Reserve Bank of India (RBI).
Consequently, RBI announced on Thursday that it plans to conduct a 14-day variable rate repo (VRR) auction on Friday to infuse up to Rs 25,000 crore in the banking system. READ MORE
8:03 AM
India emerged as the fastest-growing large economy, with gross domestic product (GDP) growth at the rate of 8.2 per cent in the financial year (FY) 2024, surpassing the government's earlier estimate of 7.3 per cent. READ MORE![]()
Stock Market LIVE Updates: India to become third-largest economy by 2030-31, says S&P Global
Stock Market LIVE Updates: India is set to become the world’s third-largest economy by 2030–31, as per S&P Global India. The country is forecast to grow at an annual rate of 6.7 per cent.
India emerged as the fastest-growing large economy, with gross domestic product (GDP) growth at the rate of 8.2 per cent in the financial year (FY) 2024, surpassing the government's earlier estimate of 7.3 per cent. READ MORE
8:02 AM ![]()
Stock Market LIVE Updates: Bank of England keeps main rate on hold at 5% in wake of US Fed cut
Stock Market LIVE Updates: The Bank of England has kept its main interest rate unchanged at 5% despite a big cut from the US Federal Reserve, its first since the onset of the coronavirus pandemic more than four years ago.
The decision Thursday was widely expected amid ongoing concerns about inflation within the bank's monetary policy committee, particularly the elevated levels in the crucial services sector, which accounts for around 80% of the British economy. READ MORE
8:01 AM
Speaking on the issue, Economic Affairs Secretary Ajay Seth told reporters that the Fed rate cut would not have a significant impact on foreign inflows into India. READ MORE![]()
Stock Market LIVE Updates: Impact of US Fed rate cut might be muted in India: CEA Nageswaran
Stock Market LIVE Updates: The impact of the US Federal Reserve’s rate cut might be muted in India as much of it was already priced in, Chief Economic Advisor V Anantha Nageswaran said on Thursday.
Speaking on the issue, Economic Affairs Secretary Ajay Seth told reporters that the Fed rate cut would not have a significant impact on foreign inflows into India. READ MORE
7:58 AM
In the US, the S&P 500 and Dow Jones closed at record highs aday after the US Fed's policy decision. The Dow Jones finished up 1.26 per cent and the S&P 500 closed 1.7 per cent higher. Similarly, the Nasdaq Composite gained 2.51 per cent.![]()
Stock Market LIVE Updates: Stock Market Today - Dow, S&P 500 hit record highs; your trading guide for Sept 20
Stock Market LIVE Updates: Domestic benchmark indices-- Sensex and Nifty-- are likely to open in green tracking positive global cues. The indices hit new record highs in the previous session after the US Federal Reserve cut interest rates by 50 basis points (bps). At around 6:48 AM, GIFT Nifty futures were up 54.9 points at 25,544.
In the US, the S&P 500 and Dow Jones closed at record highs aday after the US Fed's policy decision. The Dow Jones finished up 1.26 per cent and the S&P 500 closed 1.7 per cent higher. Similarly, the Nasdaq Composite gained 2.51 per cent.
7:54 AM
Stock Market LIVE Updates: Oil prices take heart from lower rates, climb higher
Stock Market LIVE Updates: Oil prices rose, backed by the view that lower rates equal stronger demand. Benchmark Brent crude futures climbed back above $74 a barrel for the first time in more than a week, and settled at $74.88, 1.67% higher on the day. US crude settled 1.47 per cent higher, at $71.95 a barrel.
7:49 AM
Japan's Nikkei 225 was leading gains, up 1.76 per cent, while Australia’s S&P/ASX 200 climbed 0.2 per cent.
Japan's broad-cased Topix was ahead by 1.63 per cent.
South Korea’s blue chip Kospi had advanced 1.45 per cent and the small-cap Kosdaq was up 1.51 per cent.
Hong Kong’s Hang Seng index futures were at 18,177, higher than HSI’s last close of 18,013, while futures tied to mainland China’s blue chip CSI 300 stood at 3,198.8, compared with the index’s last close of 3,196. 
Stock Market LIVE Updates: Wall Street gains drive Asian markets higher
Stock Market LIVE Updates: Markets in the Asia-Pacific region opened higher on Friday, following the surge on Wall Street.
Japan's Nikkei 225 was leading gains, up 1.76 per cent, while Australia’s S&P/ASX 200 climbed 0.2 per cent.
Japan's broad-cased Topix was ahead by 1.63 per cent.
South Korea’s blue chip Kospi had advanced 1.45 per cent and the small-cap Kosdaq was up 1.51 per cent.
Hong Kong’s Hang Seng index futures were at 18,177, higher than HSI’s last close of 18,013, while futures tied to mainland China’s blue chip CSI 300 stood at 3,198.8, compared with the index’s last close of 3,196.
7:47 AM
The tech-heavy Nasdaq Composite climbed 2.51 per cent to 18,013.98 points, while the blue-chip Dow Jones Industrial average rose 1.26 per cent to 42,025.19 points, and the benchmark S&P 500 advanced 1.70 per cent to end the session at 5,713.64 points. Both were record-high closing levels. 
Stock Market LIVE Updates: Wall Street scales new highs
Stock Market LIVE Updates: Major Wall Street indices broke record highs after global counterparts booked gains and Treasury yields rose on Thursday as the start of the Federal Reserve's first rate-cutting cycle in more than four years whet investors' risk appetite.
The tech-heavy Nasdaq Composite climbed 2.51 per cent to 18,013.98 points, while the blue-chip Dow Jones Industrial average rose 1.26 per cent to 42,025.19 points, and the benchmark S&P 500 advanced 1.70 per cent to end the session at 5,713.64 points. Both were record-high closing levels.
7:43 AM![]()
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First Published: Sep 20 2024 | 7:43 AM IST
