Stock Market LIVE Updates: Sensex down 120 points, Nifty below 25,000 at pre-open; Asia trades mixed
Stock Market Today: Indian benchmark equity indices were lower at pre-open on Friday, tracking weakness in the US markets overnight.
 "BSE, stock market")
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 were lower at pre-open on Friday, tracking weakness on the Wall Street overnight.
At pre-open, the BSE Sensex was down 123 points, or 0.15 per cent, at 81,488, while the Nifty 50 was at 24,985, down 13 points, or 0.05 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.)
9:09 AM
Stock Market LIVE Updates: Nifty below 25,000 in pre-open
Stock Market LIVE Updates: Nifty remains below 25,000 in pre-open
9:08 AM
Stock Market LIVE Updates: Sensex drops 120 points in pre-open
Stock Market LIVE Updates: Sensex dropped 120 points in pre-open trade.
9:07 AM![]()
Stock Market LIVE Updates: IT stocks trade lower in pre-open
Stock Market LIVE Updates: IT stocks trade lower in pre-open, stocks fall up to 1.5%
8:55 AM
The company, in an exchange filing, said the new app offers a wide array of financial products and services, including loan on mutual funds, home loans (including balance transfer), and loan against property.
"These loans are available at competitive terms and will offer substantial savings for our customers," the company said.
The JioFinance app also offers customers an aggregate view of their holdings across different bank accounts and across their mutual fund holdings, helping them manage their finances better, it added.
Moreover, JioFinance has as many as 24 insurance plans, spanning a comprehensive suite of life, health, two-wheeler and motor insurance digitally.
JFSL, along with its joint venture partner BlackRock are also working towards bringing world-class, innovative investment solutions to customers, the company said. ![]()
Stock Market LIVE Updates: Jio Financial Services launches revamped JioFinance app
Stock Market LIVE Updates: Jio Financial Services today informed that its new app, JioFinance, is now available for users to download.
The company, in an exchange filing, said the new app offers a wide array of financial products and services, including loan on mutual funds, home loans (including balance transfer), and loan against property.
"These loans are available at competitive terms and will offer substantial savings for our customers," the company said.
The JioFinance app also offers customers an aggregate view of their holdings across different bank accounts and across their mutual fund holdings, helping them manage their finances better, it added.
Moreover, JioFinance has as many as 24 insurance plans, spanning a comprehensive suite of life, health, two-wheeler and motor insurance digitally.
JFSL, along with its joint venture partner BlackRock are also working towards bringing world-class, innovative investment solutions to customers, the company said.
8:47 AM
The company, an an exchange filing, said, "The Company has incorporated the wholly owned subsidiary under the name of Easy Green Mobility Private Limited on 9th October, 2024."
It added, "The objective (of the subsidiary) is to diversify from the existing business of the Company."
Earlier, the company had announced its plans to "venturing into the electric bus manufacturing market through its new subsidiary, Easy Green Mobility."
Easy Green Mobility will manufacture EV buses, with YoloBus (another subsidiary of EaseMyTrip) serving as its operating arm, the company had said.![]()
Stock Market LIVE Updates: Easy Trip Planners sets up subsidiary to manufacture electric buses
Stock Market LIVE Updates: Easy Trip Planners today informed that it has set up a wholly-owned subsidiary to diversify into the green mobility space.
The company, an an exchange filing, said, "The Company has incorporated the wholly owned subsidiary under the name of Easy Green Mobility Private Limited on 9th October, 2024."
It added, "The objective (of the subsidiary) is to diversify from the existing business of the Company."
Earlier, the company had announced its plans to "venturing into the electric bus manufacturing market through its new subsidiary, Easy Green Mobility."
Easy Green Mobility will manufacture EV buses, with YoloBus (another subsidiary of EaseMyTrip) serving as its operating arm, the company had said.
8:43 AM ![]()
Stock Market LIVE Updates: Federal Bank to exit Equirus Capital with sale of 5.9 million shares in the company
Stock Market LIVE Updates: Federal Bank today informed that its board of directors has approved the sale of 5.9 million equity shares it holds in Equirus Capital, an associate company of the bank.
Federal Bank has already sold 1.15 million shares in the company during the current financial year.
The bank, in an exchange filing, said, "With this sale, the Bank would be selling a total of 9.81% (i.e. 70.50 lakh shares) of the paidup equity share capital of ECPL on a fully diluted basis. Pursuant to the stake sale, ECPL will no longer be an Associate of the Bank."
8:36 AM
The bank said it "will explore making representation with RBI for reconsideration of the order and waiver of the penalty."![]()
Stock Market LIVE Updates: RBI imposes Rs 30,000 penalty on IndusInd Bank after incognito visits at 2 branches
Stock Market LIVE Updates: IndusInd Bank today informed that banking regulator Reserve Bank of India has imposed a penalty of Rs 30,000 on the bank, "On account of observations found during incognito visit by RBI officials at Shalimar Bagh Branch and Vasant Vihar Branch."
The bank said it "will explore making representation with RBI for reconsideration of the order and waiver of the penalty."
8:29 AM ![]()
Stock Market LIVE Updates: Pro-rata distribution mandate for AIFs may see tweaks in Sebi's final norms
Stock Market LIVE Updates: The final guidelines by the Securities and Exchange Board of India (Sebi) will ensure that the “excuse” and “exclude” provisions coexist with the pro-rata distribution mandate for alternative investment funds (AIFs), sources said. READ MORE
8:24 AM ![]()
Stock Market LIVE Updates: Silver strategy: Buy the dips; support at Rs 87,500, resistance at 91,500
Stock Market LIVE Updates: Silver surged on disappointing US weekly jobless claims data, though hotter-than-expected US CPI inflation data led to a volatile session. Silver rally was aided by China’s stimulus hopes also as Chinese authorities are set to announce details of fiscal stimulus on Saturday. READ MORE
8:23 AM ![]()
Stock Market LIVE Updates: The remarkable journey of Ratan Tata: A career of exits, mega acquisitions
Stock Market LIVE Updates: The defining feature of Ratan Tata’s tenure as chair of Tata Sons and the Tata Group was a series of high-profile overseas acquisitions that put the conglomerate — and corporate India — on the global map.
These acquisitions transformed a once India-centric family enterprise into a global business group. However, before embarking on global expansion, Tata pruned and consolidated the group’s domestic portfolio, giving particular attention to ventures in the consumer space. READ MORE
These acquisitions transformed a once India-centric family enterprise into a global business group. However, before embarking on global expansion, Tata pruned and consolidated the group’s domestic portfolio, giving particular attention to ventures in the consumer space. READ MORE
8:22 AM ![]()
Stock Market LIVE Updates: After leading Trent, is Noel Tata poised to take the helm at Tata Group?
Stock Market LIVE Updates: With his son Neville by his side, Noel Tata, 67, was the face of the Tata family at Ratan Tata’s funeral on Thursday. As India’s top leaders and business tycoons paid homage to the titan, Noel, known for establishing the retail giant Trent, maintained a calm and composed demeanour. READ MORE
8:18 AM
While the tally was 10 per cent lower than the preceding month, it was still comfortably above the past 12-month average of Rs 25,600 crore. READ MORE ![]()
Stock Market LIVE Updates: Equity mutual funds log Rs 34,419 crore net inflows in September
Stock Market LIVE Updates: The domestic mutual fund (MF) industry continued to attract big-ticket investments from individual investors seeking to tap into the surging equity markets. In September, actively-managed equity schemes — which have almost a dozen sub-categories — raked in Rs 34,419 crore in net inflows.
While the tally was 10 per cent lower than the preceding month, it was still comfortably above the past 12-month average of Rs 25,600 crore. READ MORE
8:17 AM ![]()
Stock Market LIVE Updates: Bernstein quants downgrade Indian stocks, predict further upside for China
Stock Market LIVE Updates: Bernstein Societe Generale Group’s Asia quant strategists have downgraded Indian stocks due to valuations, while predicting further upside for Chinese equities on a policy boost.
India’s market seems “to be quite vulnerable in the near-term driven by record high relative valuations to China and emerging markets,” quant strategists Rupal Agarwal and Cheng Zhang wrote in a note Thursday. READ MORE
8:16 AM ![]()
Stock Market LIVE Updates: NSE to retain Nifty 50-linked weekly options after new derivatives rules
Stock Market LIVE Updates: The National Stock Exchange of India said on Thursday it will retain weekly derivative contracts linked to the benchmark Nifty 50 index, after the country's markets regulator announced tighter rules for equity derivatives.
The move follows the Securities and Exchange Board of India's (SEBI) order requiring exchanges to cut down the number of weekly options contracts available to investors to one from Nov. 20. READ MORE
8:14 AM ![]()
Stock Market LIVE Updates: Stocks to Watch today
Stock Market LIVE Updates: TCS, Tata Elxsi, NBCC, Zydus Lifesciences, and JSW Steel, are some stocks likely to in focus today, Friday, October 11, 2024.
Topics : MARKET LIVE MARKETS LIVE MARKETS TODAY stock market trading S&P BSE Sensex Nifty50 Gift Nifty BSE NSE BSE NSE equity share market Indian stock market global stock market stock market investing US market US stock market Asia stocks
Don't miss the most important news and views of the day. Get them on our Telegram channel
First Published: Oct 11 2024 | 7:47 AM IST
