Stock Market LIVE Updates: Benchmarks at record high, Nifty hits 26,270, Sensex at 85,970; IT cos up
Stock Market Today: BSE Sensex and Nifty 50 climbed to record highs after opening flat on Friday.
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Stock Market Today: Foreign Institutional Investors (FII) net bought Indian equities worth Rs 629.96 crore on Thursday, September 27, while DII's net bought equities worth Rs 2,405.12 crore during the trading session. (Photo: Shutterstock)
Stock Market LIVE Updates, Friday, September 27, 2024: Indian equity benchmark indices were flat at opening bell on Friday, after closing at record levels in the previous session.
At 10 AM, the BSE Sensex was at 84,940, up 104 points, or 0.12 per cent, while the Nifty 50 was at 26,262, up 46 points, or 0.18 per cent.
More than half the stocks on the BSE Sensex opened in the red, with losses led by Power Grid Corp., Larsen & Toubro, Bharti Airtel, Hinudstan Unilever, and Bajaj Finserv, while the gainers were Sun Pharma, Infosys, Tech Mahindra, HCLTech, and Tata Steel.
On the Nifty 50, 20 stocks were in the red, while seven were unchanged. Gains were led by Infosys, Sun Pharma, Hindalco Indstries, TCS, and BPCL, while Larsen & Toubro, Shriram Finance, Dr Reddy's, Hindustan Unilever, and HDFC Bank, were the top drags.
Across sectors, the Nifty IT index was the top gainer, climbing 2.75 per cent, followed by the Metal index, which was up 1.09 per cent. Meanwhile, the financial indices, Bank and Financial Services were trading in the red, along with FMCG, Auto, and Realty.
The broader markets were up with the BSE SmallCap gaining 0.50 per cent, and the BSE MidCap climbing 0.23 per cent.
The BSE Sensex jumped 0.78 per cent to settle at 85,836.12 on the monthly derivatives expiry day. The Nifty 50 index closed at 26,216, up 212 points or 0.8 per cent.
The total market capitalisation of BSE listed stocks rose by Rs 1.9 trillion, to end the session at Rs 477 trillion. The Nifty finished with gains on all sessions, barring six, this month.
The latest gains were underpinned by a rally in auto majors after reports suggested Karnataka would offer incentives to clean mobility, including a steep tax cut for hybrid cars.
Most of Sensex's gains were contributed by Mahindra & Mahindra, which rose 2.9 per cent, Maruti, which gained 4.8 per cent, and Tata Motors that revved by 3.08 per cent.
That apart, most markets in the Asia-Pacific region advanced, led by gains in Chinese stocks. In Hong Kong, the Hang Seng index was up 2.43 per cent, while the Shanghai Composite was up 1.3 per cent.
Japan’s Nikkei 225 rose 0.33 per cent, while the broader Topix index saw a slight decline of 0.23 per cent.
In South Korea, the Kospi slipped 0.07 per cent, while the small-cap Kosdaq fell 0.15 per cent. Conversely, Australia’s S&P/ASX 200 was up 0.06 per cent.
That apart, global stock indexes reached record highs on Thursday after chipmaker Micron Technology's upbeat forecast, while oil dropped on a media report that Saudi Arabia plans to dump its unofficial crude price target of $100 a barrel.
Silver rose to its highest level in nearly 12 years, with interest rate cuts by major central banks lifting investment interest in precious metals.
The S&P 500 registered an all-time closing high, as did the pan-European STOXX 600 index. MSCI's global stock index hit an intraday record.
Micron's forecast late on Wednesday bolstered optimism about demand for chips used for artificial intelligence computing.
US Treasury yields edged higher after strong data, including an unexpected drop in weekly US jobless claims, led traders to cut bets that the Federal Reserve will make another 50-basis point cut at its November meeting.
Other US reports showed corporate profits increased at a more robust pace than initially thought in the second quarter, while gross domestic product grew at an unrevised 3 per cent.
Investors anxiously await Friday's release of the core personal consumption expenditures (PCE) price index, the Fed's preferred measure of inflation.
The Dow Jones Industrial Average rose 260.36 points, or 0.62 per cent, to 42,175.11, the S&P 500 increased 23.11 points, or 0.40 per cent, to 5,745.37 and the Nasdaq Composite was 108.09 points, or 0.60 per cent, higher at 18,190.29.
European shares followed China's market higher. The pan-European STOXX 600 index closed 1.3 per cent higher at 525.61 points, an all-time closing high.
MSCI's gauge of stocks across the globe rose 7.08 points, or 0.84 per cent, to 850.69 and hit a record during trading.
An official readout from a meeting of China's politburo said Beijing would deploy "necessary fiscal spending" to meet this year's economic growth target of roughly 5 per cent, acknowledging new problems and raising market expectations for fresh stimulus on top of measures announced this week.
Reuters reported separately that China plans to issue special sovereign bonds worth about 2 trillion yuan ($284 billion) this year, primarily to stimulate consumption.
In commodities, spot silver was up 0.6 per cent at $32.03 per ounce as of Thursday afternoon, having hit its highest since December 2012 at $32.71. Spot gold was up 0.5 per cent at $2,670.52 per ounce, having hit a record high of $2,685.42 earlier in the day.
Crude prices in the US fell $2.02 to settle at $67.67 a barrel and Brent dropped $1.86 to settle at $71.60.
In Treasuries, benchmark 10-year yields rose 0.8 basis points to 3.789 per cent and earlier reached 3.821 per cent, the highest since Sept. 4.
Traders are now pricing in a 51 per cent probability that the Fed will cut rates by 50 basis points at the conclusion of its Nov. 6-7 meeting, down from 63 per cent before the most recent data, according to the CME Group's FedWatch Tool.
The dollar index, which measures the greenback against a basket of currencies including the yen and the euro, fell 0.42 per cent to 100.52, on track for its sixth drop in seven sessions, after rising as high as 100.95 earlier in the day.
10:17 AM ![]()
Stock Market LIVE Updates: Multi-bagger smallcap railway stock rises 4% on order win; up 110% in 1 yr
Stock Market LIVE Updates: Railway PSU company RailTel Corporation of India share price were in demand on Friday, September 27, 2024 as the scrip soared as much as 3.80 per cent to hit an intraday high of Rs 478.85 per share.
The uptick in RailTel Corporation of India share price came after the company announced that it has bagged a work order worth Rs 156 crore from rural development department, Mantralaya, Maharashtra. READ MORE
10:15 AM
According to the data available on the NSE, Diffusion Engineers IPO received bids for 4,71,77,240 shares against 65,98,500 shares offered, resulting in an oversubscription of 7.15 times by the end of Thursday. ![]()
Stock Market LIVE Updates: Diffusion Engineers IPO Day 2: GMP up 54%; Should you invest or wait?
Stock Market LIVE Updates: The initial public offering (IPO) of Diffusion Engineers received massive demand from investors as the issue got fully booked on the first day of opening for subscription on Thursday, September 26, 2024.
According to the data available on the NSE, Diffusion Engineers IPO received bids for 4,71,77,240 shares against 65,98,500 shares offered, resulting in an oversubscription of 7.15 times by the end of Thursday.
10:03 AM
At 10 AM, the BSE Sensex was at 84,940, up 104 points, or 0.12 per cent, while the Nifty 50 was at 26,262, up 46 points, or 0.18 per cent.![]()
Stock Market LIVE Updates: 10 AM market update - Sensex, Nifty at record highs
Stock Market LIVE Updates: Indian equity benchmark indices BSE Sensex and Nifty 50 climbed to record high levels, after opening flat on Friday.
At 10 AM, the BSE Sensex was at 84,940, up 104 points, or 0.12 per cent, while the Nifty 50 was at 26,262, up 46 points, or 0.18 per cent.
9:52 AM ![]()
Stock Market LIVE Updates: IDBI Bank up over 1% on launching one-time settlement scheme for retail borrowers
Stock Market LIVE Updates: The bank has launched the Sugam Rinn Bhugtan Yojana, a special one-time settlement scheme aimed at retail borrowers with outstanding amounts between Rs 10 lakh and Rs 10 crore.
The scheme targets non-performing assets (NPAs) and allows eligible borrowers to settle their dues without legal complications.
With around Rs 2,300 crore in outstanding loans affected, the initiative seeks to resolve long-pending accounts and strengthen the bank’s financial standing, which reported a gross NPA ratio of 3.87 per cent in Q1FY25.
The scheme targets non-performing assets (NPAs) and allows eligible borrowers to settle their dues without legal complications.
With around Rs 2,300 crore in outstanding loans affected, the initiative seeks to resolve long-pending accounts and strengthen the bank’s financial standing, which reported a gross NPA ratio of 3.87 per cent in Q1FY25.
9:51 AM ![]()
Stock Market LIVE Updates: SpiceJet in green as airline pays pending salaries after raising Rs 3,000 cr
Stock Market LIVE Updates: The airline has cleared pending salaries for its employees from June to August following a Rs 3,000 crore capital raise through a Qualified Institutional Placement (QIP).
This move comes as the airline works to improve its financial stability amidst ongoing challenges, including grounded aircraft due to financial constraints and maintenance issues.
This move comes as the airline works to improve its financial stability amidst ongoing challenges, including grounded aircraft due to financial constraints and maintenance issues.
9:48 AM ![]()
Stock Market LIVE Updates: Sugar stocks gain over 7% as govt says it's mulling ethanol price, sugar MSP hike
Stock Market LIVE Updates: Sugar stocks dip check
Bannari Amman Sugars (up 2.16 per cent)
Balrampur Chini Mills (6.74 per cent)
Simbhaoli Sugars (4.10 per cent)
Mawana Sugars (7.83 per cent)
Ponni Sugars (Erode) (4.14 per cent)
Ugar Sugar Works (up 5.28 per cent)
K M Sugar Mills (up 6.68 per cent)
DCM Shriram Industries (up 4.31 per cent)
Rajshree Sugars & Chemicals (5.69 per cent)
Shree Renuka Sugars (5.40 per cent)
9:38 AM ![]()
Stock Market LIVE Updates: Hindustan Copper climbs on plans of increasing mining capacity to 12.2 MPTA
Stock Market LIVE Updates: HCL is working on expansion projects to increase its mine production capacity to 12.2 million tonnes per annum (MTPA). The company reported a 13 per cent rise in ore production in FY24 and is transitioning from open cast to underground mining, with significant capacity increases planned for its various sites.
9:34 AM 
Stock Market LIVE Updates: Nifty IT climbs 2.76% as Accenture hikes FY25 guidance
Stock Market LIVE Updates: The Nifty IT index gained 2.76% on Friday, after IT bellweather Accenture hiked its FY25 revenue growth guidance to 3 to 6 per cent.
Gains on the Nifty IT index were led by Infosys (up 3.77 per cent), followed by Coforge, Mphasis, Tech Mahindra, LTIMindtree, and Wipro.
9:21 AM
Stock Market LIVE Updates: Sector Check
Stock Market LIVE Updates: Nifty IT is the top sectoral gainer, followed by Metal.
9:20 AM
Stock Market LIVE Updates: Broader markets gain
Stock Market LIVE Updates: Broader markets gain; Nifty SmallCap up 0.3 per cent.
9:19 AM
Stock Market LIVE Updates: Index heatmap check
Stock Market LIVE Updates: Sun Pharma, Infosys among top gainers on BSE.
9:17 AM
Stock Market LIVE Updates: Nifty opens with slight gains
Stock Market LIVE Updates: Nifty opened marginally higher (0.03 per cent) at 26,225 levels.
9:16 AM
Stock Market LIVE Updates: Sensex opens flat
Stock Market LIVE Updates: Sensex opened flat at 85,827.66 levels on Friday.
9:09 AM
Stock Market LIVE Updates: Nifty rises 0.1% in pre-open
Stock Market LIVE Updates: Nifty rose 0.1 per cent or 32 points to 26,248.25 levels in pre-open.
9:08 AM
Stock Market LIVE Updates: Sensex adds 60 points in pre-open
Stock Market LIVE Updates: Sensex added 62 points to 85,897.38 levels in pre-open.
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First Published: Sep 27 2024 | 8:08 AM IST
