Stock Market LIVE Updates: Sensex down 250 pts, below 81,400, Nifty at 24,950; TCS drags 2.5%
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 were trading lower on Friday, tracking overnight weakness on the Wall Street.
At 1 PM, the BSE Sensex was down 216.20 points, or 0.26 per cent, at 81,395.21, while the Nifty 50 was at 24,954.95, down 43.50 points, or 0.17 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.)
1:10 PM
It is backed by 32 lenders, including banks like SBI, HDFC Bank and Kotak Mahindra Bank, and it has raised over Rs 900 crore debt to date. ![]()
Stock Market LIVE Updates: Moneyboxx Finance raises Rs 40 crore through term loans
Stock Market LIVE Updates: Moneyboxx Finance today announced that two of its existing bankers, HDFC Bank and AU Small Finance Bank, have sanctioned term loans of Rs 40 crore each, aggregating to a total amount of Rs 40 crore.
It is backed by 32 lenders, including banks like SBI, HDFC Bank and Kotak Mahindra Bank, and it has raised over Rs 900 crore debt to date.
1:02 PM
At 1 PM, the BSE Sensex was down 216.20 points, or 0.26 per cent, at 81,395.21, while the Nifty 50 was at 24,954.95, down 43.50 points, or 0.17 per cent. ![]()
Stock Market LIVE Updates: 1 PM market update - Sensex, Nifty maintain lower levels
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 1 PM, the BSE Sensex was down 216.20 points, or 0.26 per cent, at 81,395.21, while the Nifty 50 was at 24,954.95, down 43.50 points, or 0.17 per cent.
1:00 PM
The company, in an exchange filing, said, "We would like to now inform you that the Company has completed the acquisition of Vimta’s diagnostic and pathological services business on October 11, 2024, at 12.30 PM in terms of the said BTA and commenced the relevant operations on a going-concern basis w.e.f. October 11, 2024." ![]()
Stock Market LIVE Updates: Thyrocare completes deal for Vimta Labs' diagnostics & pathological services biz
Stock Market LIVE Updates: Thyrocare Technologies today informed that it has completed the acqusition of Vimta Labs' diagnostics and pathological services business, according to the business transfer agreement it had signed with the company.
The company, in an exchange filing, said, "We would like to now inform you that the Company has completed the acquisition of Vimta’s diagnostic and pathological services business on October 11, 2024, at 12.30 PM in terms of the said BTA and commenced the relevant operations on a going-concern basis w.e.f. October 11, 2024."
12:47 PM
The rise in BSE's share price followed the announcement from the National Stock Exchange (NSE) that it would discontinue weekly index derivatives contracts for Bank Nifty, Nifty Midcap Select and Nifty Financial Services, effective from November 13, 18, and 19, respectively. READ MORE![]()
Stock Market LIVE Updates: Why have BSE shares climbed 4% on October 11? Check reasons here
Stock Market LIVE Updates: Shares of BSE, Asia's oldest stock exchange, were buzzing in trade on Friday, October 11, 2024, as the scrip climbed up to 3.95 per cent to hit an intraday high of Rs 4,383 per share.
The rise in BSE's share price followed the announcement from the National Stock Exchange (NSE) that it would discontinue weekly index derivatives contracts for Bank Nifty, Nifty Midcap Select and Nifty Financial Services, effective from November 13, 18, and 19, respectively. READ MORE
12:35 PM ![]()
Stock Market LIVE Updates: HCL Tech Q2 Preview - Brokerages expect flat revenue, decline in TCV
Stock Market LIVE Updates: HCL Tech, the third largest Indian information technology firm is scheduled to deliver its financial results for the second quarter (July-September) of fiscal year 2024-25 (Q1FY25) on Monday, October 14.
The Indian IT major is expected to register a single digit rise in its topline and bottomline compared to the September quarter of FY24. READ MORE
12:25 PM
The rupee dropped to a low of 84.0525 per US dollar and was last quoted at 84.05.
The currency's decline past the 84 handle is significant as the Reserve Bank of India (RBI) had been defending that level.
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Stock Market LIVE Updates: Indian Rupee falls below 84 for the first time
Stock Market LIVE Updates: The Indian rupee fell below 84 per dollar for the first time on Friday, pressured by concerns over the recent jump in oil prices and the exodus of foreign money from the equity market.
The rupee dropped to a low of 84.0525 per US dollar and was last quoted at 84.05.
The currency's decline past the 84 handle is significant as the Reserve Bank of India (RBI) had been defending that level.
12:14 PM ![]()
Stock Market LIVE Updates: RVNL, IRCTC, IRFC: Railway stocks trading 33% off highs; time for a relook?
Stock Market LIVE Updates: Even as the benchmark equity indices scaled fresh peaks in September shares related to Indian railways continued to under-perform and languish below key moving averages. Among these momentum stocks such as RVNL and IRFC which had witnessed a frenzied rally earlier seem to be taking a breather.
For the records, most of the rail-related shares hit a new high in July 2024 while the benchmark indices - both the BSE Sensex and the NSE Nifty 50 index registered a summit at 85,978 and 26,277 in the month of September 2024. READ MORE
12:03 PM
At 12 PM, the BSE Sensex was down 244.08 points, or 0.30 per cent, at 81,367.33, while the Nifty 50 was at 24,938.90, down 59.55 points, or 0.24 per cent. ![]()
Stock Market LIVE Updates: 12 PM market update - Sensex, Nifty trade lower
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 12 PM, the BSE Sensex was down 244.08 points, or 0.30 per cent, at 81,367.33, while the Nifty 50 was at 24,938.90, down 59.55 points, or 0.24 per cent.
11:56 AM ![]()
Stock Market LIVE Updates: Ugro Capital stock price jumps 8% on strong Q2 update; more details here
Stock Market LIVE Updates: Share price of Ugro Capital soared up to 7.92 per cent at Rs 258 per share intraday on the BSE. This came after non banking financial company announced that the company has reached a total asset under management (AUM) of Rs 10,200 crore as of September 2024, growing from Rs 2,970 crore in March 2022. READ MORE
11:45 AM ![]()
Stock Market LIVE Updates: This pharma stock has zoomed 57% thus far in 2024; Citi sees more upside
Stock Market LIVE Updates: Divi's Laboratories' share hit a new high of Rs 6,106.50, gaining 3 per cent on the BSE in Friday's intraday trade, in an otherwise range-bound market, on a strong business outlook.
In the last four days, Divi's Lab share price has surged 13 per cent after global brokerage firm Citi initiated coverage on Divi's Laboratories with a 'Buy' rating and a target price of Rs 6,400 per share. READ MORE
11:36 AM
The company, in an exchange filing, said, the project is for a commercial complex, and the timeline to complete it is 21 months. ![]()
Stock Market LIVE Updates: Ahluwalia Contracts bags Rs 1,095-cr steel-work project from DLF City Centre
Stock Market LIVE Updates: Ahluwalia Contracts (India) today informed that it has secured an order worth Rs 1,094.67 crore (excluding GST and Labour Cess), from DLF City Centre, "for the construction of civil and composite steel works including Rough finishing works for Block 5, 6 and 7, at Downtown, Phase 2, Sector-25A, Gurugram.
The company, in an exchange filing, said, the project is for a commercial complex, and the timeline to complete it is 21 months.
11:25 AM ![]()
Stock Market LIVE Updates: Ashoka Buildcon rises 4% on emerging lowest bidder for Rs 918-crore project
Stock Market LIVE Updates: Ashoka Buildcon shares rose as much as 4 per cent in Friday's (October 11) intraday trade and registered a high of Rs 253.5 per share.
The stock jumped after the construction engineering company was declared as the lowest bidder (L-1) for the construction of flyover arm1 arm-2 at T Junction on Sion Panvel Highway, Mumbai. READ MORE
The stock jumped after the construction engineering company was declared as the lowest bidder (L-1) for the construction of flyover arm1 arm-2 at T Junction on Sion Panvel Highway, Mumbai. READ MORE
11:16 AM ![]()
Stock Market LIVE Updates: Anand Rathi stocks rally 6% on strong Q2 show; Rs 7 dividend announced
Stock Market LIVE Updates: Shares of wealth management firm Anand Rathi Wealth (Anand Rathi) climbed up to 5.53 per cent to hit an intraday high of Rs 4,280 per share on Friday, October 11, 2024.
The uptick in Anand Rathi share price came after the company reported a strong set of September quarter (Q2FY25) results. READ MORE
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.
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First Published: Oct 11 2024 | 7:47 AM IST
