Stock Market LIVE Updates: Sensex down 150 pts, at 81,450, Nifty at 24,950; HCL m-cap tops Rs 5 trn
Stock Market Today: Indian benchmark equity indices were trading lower on Friday, tracking overnight weakness in the US markets.
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Share Market Today: Foreign institutional investors (FIIs) net sold shares worth Rs 4,926.61 crore on Friday, while domestic institutional investors (DIIs) net bought shares worth Rs 3,878.33 crore. (Photo: Bloomberg)
Stock Market LIVE Updates, Friday, October 11, 2024: Indian benchmark equity indices BSE Sensex and Nifty 50 opened lower on Friday, tracking overnight weakness on the Wall Street.
At 11 AM, the BSE Sensex was down 200.73 points, or 0.25 per cent, at 81,410.68, while the Nifty 50 was at 24,954.40, down 44.05 points, or 0.18 per cent.
More than half the stocks on the BSE Sensex were trading in the red. Loses were capped by Bajaj Finance (down 0.71 per cent), followed by Bharti Airtel, Power Grid Corp., Asian Paint, and ICIC Bank. In contrast, HCLTech (up 1.79 per cent, JSW Steel, Tata Steel, Sun Pharma, and Titan, were the top gainers.
On the Nifty 50, too, mo than half the stocks were trading in the red. Gains were led by HCLTech (up 1.74 per cent), followed by Hindalco Industries, ONGC, Wipro and JSW Steel.
Meanwhile, loses were capped by Cipla (down 1.23 per cent), followed by Bajaj Finance, Power Grid Corp., ICICI Bank, and TCS.
Among sectoral indices, the Nifty Bank was down 0.28 per cent, while Financial Services was down 0.42 per cent, and Realty was down 0.45 per cent.
The Metal and IT index were the top sectoral gainers, climbing 0.75 per cent and 0.63 per cent, respectively.
In the broader markets, the Nifty Midcap 100 was up 0.14 per cent and the Nifty Smallcap 100 was up 0.16 per cent.
Benchmark equity indices BSE Sensex and Nifty 50 had ended in the green on Thursday.
The BSE Sensex climbed 140.75 points, or 0.17 per cent, to close at 81,607.55, while the NSE Nifty 50 settled at 24,998.45, up 16.50 points, or 0.07 per cent.
Across sectors, the Bank Nifty and PSU Bank indices outperformed other sectoral indices, each closing 1 per cent higher. Financial Services, Auto, and Metal stocks also ended in the green.
That apart, the IT, Pharma, FMCG, and Healthcare indices were the top laggards for the day among sectoral indices, with losses extending up to 2.01 per cent.
Meanwhile, markets in the Asia-Pacific region were mixed on Friday, diverging from the lower close on Wall Street overnight, which saw key benchmarks slide as investors digested a persistently increasing US inflation report.
Japan’s Nikkei 225 climbed 0.7 per cent, while the broad-based Topix edged up 0.40 per cent.
South Korea’s Kospi advanced 0.49 per cent and the small cap Kosdaq added 0.36 per cent.
Hong Kong’s Hang Seng index was ahead by 2.98 per cent, while mainland China's Shanghai Composite was down 1.16 per cent and the CSI 300 was down 2.22 per cent.
Australia’s S&P/ASX 200 was down 0.15 per cent.
That apart, global stocks were little changed while longer-dated US Treasury yields edged up in choppy trading on Thursday as investors weighed the interest rate path from the Federal Reserve after economic data and comments from central bank officials.
US consumer prices rose slightly more than expected in September as food costs rose, but the annual increase in inflation was the smallest in more than 3-1/2 years.
The Labor Department said the consumer price index increased 0.2 per cent last month after gaining 0.2 per cent in August, slightly above expectations of economists polled by Reuters for a 0.1 per cent rise.
In the 12 months through September, the CPI rose 2.4 per cent versus the 2.3 per cent estimate.
Other data showed weekly initial jobless claims jumped 33,000 last week to a seasonally adjusted 258,000, well above the 230,000 estimate, although the climb was partially attributed to distortions from Hurricane Helene.
The data helped initially solidify expectations the Federal Reserve will cut interest rates next month, but expectations retreated slightly to a nearly 80 per cent chance for a cut of 25 basis points (bps) after comments from several Federal Reserve officials, from nearly 90 per cent immediately after the numbers were released, according to CME's FedWatch Tool. Expectations for the 25 bp cut then increased again and were last at 86.3 per cent.
Atlanta Federal Reserve Bank President Raphael Bostic said in an interview with the Wall Street Journal that he would be "totally comfortable" skipping an interest-rate cut at an upcoming meeting of the US central bank, adding that the "choppiness" in recent data on inflation and employment may warrant leaving rates on hold in November.
The market had been pricing in a 32.1 per cent chance for another outsized cut of 50 bps a week ago.
On Wall Street, stocks ended lower but off their worst levels of the session, with the rate-sensitive real estate index the worst-performing of the 11 major S&P sectors.
The Dow Jones Industrial Average fell 57.88 points, or 0.14 per cent, to 42,454.12, the S&P 500 fell 11.99 points, or 0.21 per cent, to 5,780.05, and the Nasdaq Composite fell 9.57 points, or 0.05 per cent, to 18,282.05.
MSCI's gauge of stocks across the globe slipped 0.18 point, or 0.02 per cent, to 848.46, as it pared earlier declines.
In Europe, the STOXX 600 index closed down 0.18 per cent ahead of France's 2025 budget.
Markets have been dialing back expectations the Fed will be aggressive in cutting interest rates after Friday's strong US payrolls report.
Fed Chair Jerome Powell and other central bank officials have signaled the Fed has shifted its primary focus from combating inflation to labour market stability.
The yield on benchmark US 10-year notes inched up 0.4 basis point to 4.071 per cent after reaching 4.12 per cent, while the 2-year note yield, which typically moves in step with interest rate expectations, fell 5.6 basis points to 3.962 per cent.
The dollar index fell 0.03 per cent to 102.85 after earlier rising as much as 0.27 per cent.
Against the Japanese yen, the dollar weakened 0.51 per cent to 148.53. Bank of Japan Deputy Governor Ryozo Himino said on Thursday the central bank will consider raising interest rates if the board has "greater confidence" that its economic and price forecasts will be realised.
Oil prices jumped after two sessions of decline, boosted by a spike in fuel demand as Hurricane Milton slammed into Florida, with Middle East supply risks and signs that demand from the US and China could increase also providing support.
US crude settled up 3.56 per cent to $75.85 a barrel and Brent rose to settle at $79.40 per barrel, up 3.68 per cent on the day.
(With inputs from Reuters.)
11:01 AM
At 11 AM, the BSE Sensex was down 200.73 points, or 0.25 per cent, at 81,410.68, while the Nifty 50 was at 24,954.40, down 44.05 points, or 0.18 per cent. ![]()
Stock Market LIVE Updates: 11 AM market update - Sensex, Nifty decline
Stock Market LIVE Updates: Indian benchmark equity indices BSE Sensex and Nifty 50 were trading lower on Friday, tracking the overnight weakness on Wall Street.
At 11 AM, the BSE Sensex was down 200.73 points, or 0.25 per cent, at 81,410.68, while the Nifty 50 was at 24,954.40, down 44.05 points, or 0.18 per cent.
10:59 AM
The bid price for the project is Rs 918 crore (excluding GST), and the project is expected to be completed within 30 months, including monsoon, it added. ![]()
Stock Market LIVE Updates: Ashoka Buildcon up 2% as it's declared lowest bidder for Rs 918-cr flyover project
Stock Market LIVE Updates: Ashoka Buildcon today informed that it has been declared as the Lowest Bidder (L-1) for a project by Brihanmumbai Municipal Corporation (BMC) to build the "Flyover Arm-1 Arm-2 at T Junction on Sion Panvel Highway, Maharashtra Nagar in M/E ward."
The bid price for the project is Rs 918 crore (excluding GST), and the project is expected to be completed within 30 months, including monsoon, it added.
10:48 AM ![]()
Stock Market LIVE Updates: HCL Tech market-cap tops Rs 5 trn for 1st time; stock up 50% from June low
Stock Market LIVE Updates: HCL Technologies, on Friday, joined the elite group of companies having a market capitalisation of Rs 5 trillion. This feat came after HCL Tech share price hit a new high of Rs 1,852, gaining 2 per cent on the BSE in the intraday trade. READ MORE
10:34 AM ![]()
Stock Market LIVE Updates: Vishnu Prakash R Punglia jumps 5% on Rs 161-cr order from Indian Railways
Stock Market LIVE Updates: Vishnu Prakash R Punglia (VPRPL) shares surged up to 4.75 per cent to hit an intraday high of Rs 283.25 per share on Friday, October 11, 2024.
The surge in Vishnu Prakash share price came after the company announced that it has secured an order worth Rs 160.8 crore. READ MORE
10:20 AM
Greenfield addition for solar stood at 2,418 MW, while for wind power plants, it was 450 MW.
Sale of energy increased 20 per cent YoY at 14,128 mn units in H1FY25, backed by robust capacity addition.
AGEL observed steady growth in generation at a CAGR of 49 per cent over the past 4 years with increasing proportion of merchant power.
The company said it has consistently generated electricity significantly above commitment under PPA. ![]()
Stock Market LIVE Updates: Adani Green's operational capacity increases 34% YoY, energy sales up 20% YoY in H1
Stock Market LIVE Updates: Adani Green Energy today informed that its operational capacity increased by 34 per cent YoY to 11,184 MW, in H1FY25.
Greenfield addition for solar stood at 2,418 MW, while for wind power plants, it was 450 MW.
Sale of energy increased 20 per cent YoY at 14,128 mn units in H1FY25, backed by robust capacity addition.
AGEL observed steady growth in generation at a CAGR of 49 per cent over the past 4 years with increasing proportion of merchant power.
The company said it has consistently generated electricity significantly above commitment under PPA.
10:10 AM ![]()
Stock Market LIVE Updates: Pressure amps up on Infosys, Wipro likely to beat high expectations
Stock Market LIVE Updates: Infosys Ltd., Wipro Ltd. and HCL Technologies Ltd. are up against high expectations as investors increasingly fret over a potential market correction.
The 2025 financial year has been seen as one of recovery for Indian IT companies after a slowdown in spending from US-based clients brought revenue growth down to the low single-digits in the previous year. While April-June quarter earnings did show an improvement, elevated full-year expectations might prove hard to beat. READ MORE
10:08 AM ![]()
Stock Market LIVE Updates: Garuda Construction and Engineering IPO: Check allotment, GMP status here
Stock Market LIVE Updates: Garuda Construction and Engineering's initial public offer (IPO) allotment is anticipated to be finalised today. The IPO closed for subscription on Thursday, October 10, and received an overwhelming response from the investors.
Overall, Garuda Construction and Engineering's IPO was oversubscribed by 7.55 times, where Retail Individual Investors (RIIs) demonstrated keen interest by subscribing 10.81 times, followed by Non Institutional Investors, who oversubscribed by 9.03 times and Qualified Institutional Buyers (QIBs) bid 1.24 times. READ MORE
Overall, Garuda Construction and Engineering's IPO was oversubscribed by 7.55 times, where Retail Individual Investors (RIIs) demonstrated keen interest by subscribing 10.81 times, followed by Non Institutional Investors, who oversubscribed by 9.03 times and Qualified Institutional Buyers (QIBs) bid 1.24 times. READ MORE
10:07 AM ![]()
Stock Market LIVE Updates: Bandhan Bank up 9% on RBI nod to appoint Partha Pratim Sengupta as MD & CEO
Stock Market LIVE Updates: Bandhan Bank share price surged 9 per cent to Rs 204.90 on the BSE in Friday's intraday trade after the private sector lender received approval from the Reserve Bank of India (RBI) for the appointment of Partha Pratim Sengupta as Managing Director and Chief Executive Officer (MD & CEO) for a three-year term, w.e.f. November 10, 2024. READ MORE
10:06 AM ![]()
Stock Market LIVE Updates: IREDA share price up 3% as Q2 profit climbs 36% YoY; details here
Stock Market LIVE Updates: Shares of Indian Renewable Energy Development Agency Limited (IREDA) were in demand during early trade on Friday, October 11, 2024, as the share rose up to 2.65 per cent to hit an intraday high of Rs 239.95 per share.
The state-owned company, on Thursday, reported a 36 per cent rise in profit after tax, reaching Rs 387.7 crore for the September quarter (Q2FY25), compared to Rs 284.7 crore during the same period in the previous fiscal year (Q2FY24). READ MORE
10:05 AM
Analysts believe that the earnings were satisfactory and were in line with their estimates, with an optimistic management waiting for a turnaround in the near future. READ MORE ![]()
Stock Market LIVE Updates: TCS shares slip as brokerages offer mixed outlook, reduce earnings estimates
Stock Market LIVE Updates: Shares of TCS fell as much as 2.09 per cent at Rs 4,140 per share on the BSE in Friday’s intraday deals after the company posted a modest quarterly earnings for the second quarter of the financial year 2024-25 (Q2FY25).
Analysts believe that the earnings were satisfactory and were in line with their estimates, with an optimistic management waiting for a turnaround in the near future. READ MORE
10:03 AM
At 10 AM, the BSE Sensex was down 68.65 points, or 0.08 per cent, at 81,542.76, while the Nifty 50 was at 24,992, down 5.65 points, or 0.02 per cent. ![]()
Stock Market LIVE Updates: 10 AM market update - Sensex, Nifty trade muted
Stock Market LIVE Updates: Indian benchmark equity indices BSE Sensex and Nifty 50 were trading lower on Friday, tracking overnight weakness on the Wall Street.
At 10 AM, the BSE Sensex was down 68.65 points, or 0.08 per cent, at 81,542.76, while the Nifty 50 was at 24,992, down 5.65 points, or 0.02 per cent.
9:49 AM ![]()
Stock Market LIVE Updates: Vedanta gains 1.7% after co links its metal quality analysis system with LME
Stock Market LIVE Updates: The company has linked its metal quality analysis system with the London Metal Exchange, becoming the first Indian smelter to do so. This initiative aims to enhance supply chain operations and meet global quality standards.
9:46 AM 
Stock Market LIVE Updates: Puravankara up 1% after unveiling plans to launch new projects worth Rs 13,000 cr
Stock Market LIVE Updates: Despite strong housing demand, Puravankara's sale bookings dropped 17 per cent year-on-year to Rs 1,331 crore in Q2FY25. The company plans to launch new projects worth over Rs 13,000 crore in the second half of the fiscal year.
9:44 AM 
Stock Market LIVE Updates: JSW Steel climbs 1.25% as co partners with BHP & Cabon Clean for clean steelmaking
Stock Market LIVE Updates: The company has partnered with BHP and Carbon Clean to accelerate carbon capture technology in steelmaking. This initiative aims to reduce emissions and aligns with global sustainability efforts undertaken by the company.
9:42 AM 
Stock Market LIVE Updates: Zydus Life slightly up as US FDA approves its generic schizophrenia drug
Stock Market LIVE Updates: Zydus Lifesciences has received US FDA's approval to produce its generic version of Paliperidone extended-release tablets for treating schizophrenia.
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First Published: Oct 11 2024 | 7:47 AM IST
