Stock Market LIVE Updates: Markets at record after slow open, Sensex hits 85,320, Nifty at 26,050
Stock Market LIVE Updates: Indian equity benchmark indices hit record high levels after a slow start on Thursday.
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Stock Market Today: Foreign Institutional Investors (FII) offloaded shares worth Rs 973.94 crore, while Domestic Institutional Investors (DII) bought shares worth Rs 1,778.99 crore on Wednesday, September 26. (Photo: Shutterstock)
Stock Market LIVE Updates, Thursday, September 26, 2024: Indian benchmark equity indices BSE Sensex and Nifty 50, opening nearly flat, climbed to hit fresh peaks on Thursday.
At opening bell, the BSE Sensex was at 85,185.47, ahead by 150 points, or 0.02 per cent, while the Nifty 50 was at 26,014.50, ahead by 10.35 points, or 0.04 per cent.
10 out of the 30 stocks on the BSE Sensex were trading in the red, with losses led by Tata Steel (down 0.37 per cent), followed by ICICI Bank, JSW Steel, Axis Bank, and NTPC, while the top gainers were Maruti Suzuki India (up 1.01 per cent), Nestle India, Bajaj Finserv, Tech Mahindra, and Tata Motors.
On the Nifty 50, SBI Life (up 1.5 per cent), Tata Consmer Products, Nestle India, Bajaj Finserv, and Maruti Suzuki India were the top gainers, while Hero MotoCorp (down 1.65 per cent), ONGC, Hindalco Industries, Tata Steel, and NTPC, were the top drags.
Across sectors, the IT index was the top gainer, followed by FMCG and Realty indices, while financials and metal were dragging.
Meanwhile, the Nifty Midcap 100 and Nifty Smallcap 100 were trading in the red at open.
The BSE Sensex and Nifty 50 had reversed early losses on Wednesday to close at record-high levels.
The Sensex added 0.30 per cent to close at 85,169.87, after scaling a record high of 85,247 during intraday trade.
Meanwhile, the Nifty 50 touched an all-time high of 26,032.80 before closing at 26,004, up 0.25 per cent.
The broader market indices closed lower, with Nifty Midcap 100 and Nifty Smallcap 100 settling 0.63 per cent and 0.42 per cent lower, respectively. The fear index, India VIX, ended 7.37 per cent lower at 12.41.
Media stocks outperformed the other sectoral indices by closing 2.94 per cent higher.
Bank Nifty, Financial Services, Metal, Pharma, Private Bank, and Realty indices also ended higher, while PSU Bank, IT, FMCG, and Auto indices closed in the red on Wednesday.
Meanwhile, markets in the Asia-Pacific region rebounded on Thursday morning, with the Chinese markets expected to continue their upward momentum.
Hong Kong's Hang Seng index futures were trading at 19,336, ahead of the last close of 19,129.1. In Japan, the Nikkei 225 rose 1.7 per cent in early trading, while the broader Topix climbed 1.2 per cent. South Korea’s Kospi led the region with a 1.77 per cent gain, while Australia’s S&P/ASX 200 gained 0.68 per cent.
That apart, global stock indices mostly eased on Wednesday along with energy shares, while US Treasury yields rose as investors stuck to the view that the Federal Reserve will be able to create a soft landing for the US economy.
China's yuan gave up earlier gains a day after China's central bank unveiled its biggest stimulus since the pandemic to pull the economy out of its deflationary funk and back towards the government's growth target.
In the US, Wednesday's data showing new home sales falling in August had little impact on markets. Data on Tuesday showing US consumer confidence dropping by the most in three years in September added to worries about the labour market.
The US central bank last week began an anticipated series of interest rate cuts with a large half-percentage-point reduction.
Traders are now pricing in 59 per cent odds of a 50-basis point cut at the Fed's November 7 meeting, up from 37 per cent a week ago, and a 41 per cent chance of a 25 basis point reduction, according to the CME Group's FedWatch Tool.
Investors will be watching this week for US weekly jobless claims, due on Thursday, and the personal consumption expenditures price index, due on Friday.
On Wall Street, the Dow and S&P 500 ended lower after hitting record highs in early trades, while Nasdaq was flat at close.
The Dow Jones Industrial Average fell 0.70 per cent, to 41,914.75, the S&P 500 dragged 0.19 per cent, to 5,722.26 and the Nasdaq Composite rose marginally by 0.04 per cent, to 18,082.21.
MSCI's gauge of stocks across the globe fell 0.11 per cent, to 843.61. The STOXX 600 index fell 0.11 per cent
The dollar index rose 0.68 per cent to 100.91. It earlier fell to 100.21, matching a low from September 18, which was the weakest since July 2023.
In Treasuries, US 10-year yields last traded up 4.9 basis points at 3.784 per cent. Since the September 18 rate cut, 10-year yields have risen about 3 bps.
Oil prices declined as supply disruptions concerns in Libya eased. US crude fell $1.87 to settle at $69.69 a barrel and Brent fell to $73.46 per barrel, down $1.71 on the day.
In other commodities, gold rose to a record high as expectations for another big rate cut by the Fed helped the bullion's rally.
Spot gold gained 0.2 per cent to $2,662.00 per ounce by 1750 GMT after hitting an all-time high of $2,670.43 earlier.
(With inputs from Reuters.)
9:26 AM
Stock Market LIVE Updates: Benchmarks at record high
Stock Market LIVE Updates: Nifty50 and Sensex hit fresh record high on Thursday. Nifty rose up to 26,051.30 levels while Sensex climbed to a new high of 85,333.23 levels.
9:22 AM
Stock Market LIVE Updates: Sector Check
Stock Market LIVE Updates: Nifty IT was the top gainer, up 0.5 per cent.
9:21 AM
Stock Market LIVE Updates: Broader markets slip in trade
Stock Market LIVE Updates: Broader markets slip in trade; Nifty SmallCap down 0.2 per cent.
9:20 AM
Stock Market LIVE Updates: Index heatmap check
Stock Market LIVE Updates: Maruti, Nestle among top gainers on BSE.
9:17 AM
Stock Market LIVE Updates: Sensex opens with minor gains
Stock Market LIVE Updates: Sensex started off with minor gains, up 0.01 per cent at 85,180 levels.
9:15 AM
Stock Market LIVE Updates: Nifty50 opens above 26,000
Stock Market LIVE Updates: Nifty50 opened on a muted note on Thursday.
9:10 AM
Stock Market LIVE Updates: Sensex flat at 85,167.56 in pre-open
Stock Market LIVE Updates: Sensex was flat at 85,167.56 in the pre-open trade.
9:08 AM
Stock Market LIVE Updates: Nifty falls marginally in pre-open
Stock Market LIVE Updates: Nifty falls marginally in pre-open, down 0.04 per cent or 12.25 points to 25,991.90.
9:03 AM![]()
Stock Market LIVE Updates: KPI Green bags Letter of Award for hybrid project
Stock Market LIVE Updates: KPI Green Energy Limited has received the Letter of Award for the development of a 66.20 MW Hybrid Power Project under the Captive Power Producer (CPP) segment of the Company.
Source: BSE
Source: BSE
9:02 AM![]()
Stock Market LIVE Updates: Prestige Grp launches luxury development in Whitefield
Stock Market LIVE Updates: Prestige Group launches luxury development in Whitefield with Rs 1,100-cr sales potential.
Source: BSE
Source: BSE
9:00 AM![]()
Stock Market LIVE Updates: COP hosts aim for 33% increase in combined oil and gas production by 2035
Stock Market LIVE Updates: Azerbaijan, the UAE, and Brazil -- the past, current, and next hosts of the UN climate conference -- are set to increase their combined oil and gas production by 33 per cent by 2035, contradicting their commitments to lead global efforts for stronger climate action, according to a new analysis. READ MORE
8:57 AM
While India's growth fundamentals remain resilient despite global concerns and Middle-East tensions, investors need to be mindful of the valuations getting expensive after the recent upsurge.
With the current bullish momentum underway, aggressive targets for Nifty are seen at 26,500-27,000 zone while the index is likely to find support at 24,755."
Views By: Prashanth Tapse, Senior VP (Research), Mehta Equities ![]()
Stock Market LIVE Updates: 'Aggressive targets for Nifty are at 26,500-27,000, while support is at 24,755'
Stock Market LIVE Updates: "Strong Asian market undercurrent could see domestic benchmarks log early gains, with key indices holding above their highest levels on the back of liquidity-driven rally. Markets could turn choppy intra-day amid today's current month F&O expiry as investors would look to wind up their open positions.
While India's growth fundamentals remain resilient despite global concerns and Middle-East tensions, investors need to be mindful of the valuations getting expensive after the recent upsurge.
With the current bullish momentum underway, aggressive targets for Nifty are seen at 26,500-27,000 zone while the index is likely to find support at 24,755."
Views By: Prashanth Tapse, Senior VP (Research), Mehta Equities
8:52 AM
The company, in an exchange filing, said, "Zaggle Prepaid Ocean Services Limited (Company) held today i.e. Wednesday, September 25, 2024, has, inter alia, approved the Investment of Rs. 15.6 Crores for 26 percent ownership capital of Mobileware Technologies Private Limited on a post issue and fully diluted basis."
Mobileware is a Mumbai-based company offering integrated product suite of NPCI certified switch solutions across UPI, IMPS, AEPS and BBPS, along with an API and Agency banking platform called Transxt.![]()
Stock Market LIVE Updates: Zaggle Prepaid to buy 26% in digital payments infra co Mobileware for Rs 15.6 cr
Stock Market LIVE Updates: Zaggle Prepaid Ocean Services today announced that its board has approved the Investment of Rs 15.6 crores to acqire a 26 per cent ownership in Mobileware Technologies.
The company, in an exchange filing, said, "Zaggle Prepaid Ocean Services Limited (Company) held today i.e. Wednesday, September 25, 2024, has, inter alia, approved the Investment of Rs. 15.6 Crores for 26 percent ownership capital of Mobileware Technologies Private Limited on a post issue and fully diluted basis."
Mobileware is a Mumbai-based company offering integrated product suite of NPCI certified switch solutions across UPI, IMPS, AEPS and BBPS, along with an API and Agency banking platform called Transxt.
8:48 AM
The company, in an exchange filing, said, "This is to inform you that the meeting of the Board of Directors of Zaggle Prepaid Ocean Services Limited held today i.e. Wednesday, September 25, 2024, has, inter alia, approved the acquisition of 10,66,314 Equity Shares of face value of Rs 10 each at a price of Rs. 300.80 per share (including a premium of Rs. 290.80 per share), constituting 98.32% stake in Span Across IT Solutions Private Limited.
The company added that following the conclusion of the deal, Span Across will become a subsidiary of the company, and it will give Zaggle an opportunity to enter new segment of employee related business.![]()
Stock Market LIVE Updates: Zaggle Prepaid to acquire 98.32% stake in Span Across IT Solutions for Rs 32.07 cr
Stock Market LIVE Updates: Zaggle Prepaid Ocean Services today announced that its board of directiors, in a meeting held on Wednesday, September 25, approved the acquisition of 10,66,314 equity shares of Span Across IT Solutions Private Limited, constituting a 98.32% stake in it.
The company, in an exchange filing, said, "This is to inform you that the meeting of the Board of Directors of Zaggle Prepaid Ocean Services Limited held today i.e. Wednesday, September 25, 2024, has, inter alia, approved the acquisition of 10,66,314 Equity Shares of face value of Rs 10 each at a price of Rs. 300.80 per share (including a premium of Rs. 290.80 per share), constituting 98.32% stake in Span Across IT Solutions Private Limited.
The company added that following the conclusion of the deal, Span Across will become a subsidiary of the company, and it will give Zaggle an opportunity to enter new segment of employee related business.
8:39 AM![]()
Stock Market LIVE Updates: Consensus eludes GoM on GST rate rationalisation, over 100 items discussed
Stock Market LIVE Updates: The Group of Ministers (GoM) on goods and services tax (GST) rate rationalisation, which convened in Goa on Wednesday, reviewed the GST rates for over 100 items, including textiles, handloom goods, agricultural products, fertilisers, and educational materials.
However, no consensus was reached on any of the items, with further discussions scheduled for next month in Delhi. READ MORE
However, no consensus was reached on any of the items, with further discussions scheduled for next month in Delhi. READ MORE
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First Published: Sep 26 2024 | 8:06 AM IST
