Market Close Highlights, Oct 8: Benchmarks snap 5-day losing run; Sensex up 585 pts, Nifty holds 25k

Stock Market Close Highlights Today: Adani Ports, M&M, Reliance Industries, HDFC Bank, L&T, SBI, Ultratech Cement, NTPC, and Kotak Bank were the top Sensex gainers today, up between 1 and 4.5 per cent

8:51 AM

Stock Market LIVE Updates: FlyArystan selects RateGain's AirGain to strengthen competitive pricing for tickets

Stock Market LIVE Updates: : RateGain Travel Technologies informed today that FlyArystan, Kazakhstan’s premier low-cost airline and a subsidiary of the Air Astana group, has extended its partnership with AirGain, RateGain's pricing solution for airlines, to gain real-time competitive insights. 

By utilising AirGain’s advanced analytics platform, FlyArystan will continue to access real-time pricing data from over 300 airlines and 50+ OTAs, the company said in an exchange filing. With a near-perfect data sufficiency rate of 98 per cent, this partnership empowers FlyArystan to refine its dynamic pricing strategies, the company added.

 

8:46 AM

Stock Market LIVE Updates: Shanjie said new measures to focus on growing domestic demand, increasing support

Stock Market LIVE Updates: Zheng Shanjie said new measures will focus on expanding domestic demand, increasing support for the property and capital markets.

He added that the focus would be more on livelihoods, and boosting consumption.

Shanjie said China should adhere to the systematic implementation of policies to coordinate finance, consumption, investment, real estate, stock market, employment and people’s well-being, according to SCMP.

“We should focus on the policy of increasing domestic demand, focusing more on benefiting people’s livelihood and promoting consumption,” he said.

8:42 AM

Stock Market LIVE Updates: Shanjie said risks rising, but economic growth target attainable

Stock Market LIVE Updates: NDRC chair Zheng Shanjie said external risks are on the rise, while economic downward pressure is increasing, and some firms have been unable to adapt to 'involuted' competition, according to SCMP.

 

Nonetheless, China’s economic fundamentals have not changed, he emphasised. 

"There is still great market potential, and leadership has confidence that their full-year economic growth target will be achieved," he added.

8:40 AM

Stock Market LIVE Updates: NDRC Chairman Zheng Shanjie says focus on resolving debt risks

Stock Market LIVE Updates: Chairman of China’s top economic planner, National Development and Reform Commission (NDRC), in a press conference on Tuesday morning, said resolving debt risks a primary focus; China open for more foreign investment

NDRC chairman Zheng Shanjie, said China should increase countercyclical macro policies, ensure necessary fiscal expenditures, speed up the expenditure process, and resolve debt risks, according to South China Morning Post.

He added that the moving forward of reform measures should be implemented, such as a shoring up a national market to attract foreign direct investment.

 

8:33 AM

Stock Market LIVE Updates: Goldman upgrades call on Chinese stock on positive impact of stimulus blitz

Stock Market LIVE Updates: Goldman Sachs Group Inc. upgraded its call on Chinese stocks to overweight, as it joined a camp of optimists that are touting the positive impact of Beijing’s stimulus blitz.

 

Gauges tracking the nation’s equities may rise another 15 per cent-20 per cent if authorities deliver on policy measures, strategists including Tim Moe wrote in a note dated Oct. 5. Valuations are still below the historical average, earnings may improve and global investors’ positioning remains light, they added. READ MORE

8:28 AM

Stock Market LIVE Updates: Haryana and J&K election update

Stock Market LIVE Updates: Initial trends in the first hour of counting of votes for the state assembly elections held in the state of Haryana and the Union Territory of Jammu & Kashmir, showed the BJP leading in 18 seats in Haryana, and INC ahead in 15 seats.

Separately, the BJP and INC were neck-and-neck with leads in 13 seats each in the Jammu & Kashmir region.

8:22 AM

Stock Market LIVE Updates: FPIs' holdings in Indian securities surpass $1 trillion for the first time

Stock Market LIVE Updates: Foreign portfolio investors (FPIs) have, for the first time, amassed holdings in Indian securities exceeding the $1 trillion mark, a milestone underscoring the country’s growing allure among global investors.

 

As of the end of September 2024, FPIs’ assets under custody in India reached $1.1 trillion (Rs 84.4 trillion), with $930 billion (Rs 78 trillion) invested in equities and the remainder allocated to debt and hybrid instruments, according to data from National Securities Depository Limited. READ MORE

8:20 AM

Stock Market LIVE Updates: Result preview: India Inc earnings, revenue growth in Q2 may stay muted

Stock Market LIVE Updates: Brokerages expect slower growth in industry’s volumes and revenue in July-September 2024 (Q2FY25).

But they anticipate a pickup in profit growth, driven by low costs of raw materials and reduced operating expenses, along with higher margins. READ MORE

8:19 AM

Stock Market LIVE Updates: Stocks to Watch: Northern Arc, Tata Motors, Ola Electric, Morepen Labs, BoB

Stock Market LIVE Updates: Northern Arc's subsidiary, Northern Arc Investment Managers (NAIM), is launching a Rs 1,000 crore alternate investment fund focused on lending across sectors like affordable housing and microfinance. READ MORE

8:18 AM

Stock Market LIVE Updates: Nifty Financial Svcs eyes key support level: check trading strategy here

Stock Market LIVE Updates: The Nifty Finance Index has experienced a sharp correction over the past seven days, bringing it close to critical support levels at 23,000 and 22,500.

As the index nears these levels, it is expected to enter an oversold zone, making it an attractive buy for both near-term and short-term traders. READ MORE

8:17 AM

Stock Market LIVE Updates: Market Today: State elections, Israel War, Oil, Garuda Construction IPO

Stock Market LIVE Updates: The situation in the Middle East is escalating, with Hezbollah launching rockets at Haifa, Israel’s third-largest city. As Israel prepares to intensify its military operations in Lebanon, fears of a broader regional conflict are mounting, marking the one-year anniversary of the Hamas attack on Israel that initiated the Gaza war. READ MORE

8:15 AM

Stock Market LIVE Updates: Oil prices decline

Stock Market LIVE Updates: Oil prices edged lower in early Asian trading hours on Tuesday as traders booked profits after prices rallied to their highest in over a month on Monday.

Brent crude futures fell 23 cents, or 0.3 per cent, to $80.70 per barrel by 6:00 AM. US West Texas Intermediate futures fell 20 cents, or 0.3 per cent, to $76.94 a barrel.

 

8:08 AM

Stock Market LIVE Updates: Wall Street declines

Stock Market LIVE Updates: Stocks on Wall Street closed lower on Monday.

The Dow Jones Industrial Average fell 0.94 per cent, to 41,954.24, the S&P 500 fell 0.96 per cent, to 5,695.94 and the Nasdaq Composite declined 1.18 per cent, to 17,923.90.

 

8:05 AM

Stock Market LIVE Updates: China climbs, other Asian markets down

Stock Market LIVE Updates: With mainland China markets opening after a week-long holiday, the CSI 300 index was up 8.94 per cent, and the Shanghai Composite was up 5.43 per cent at last check. 

In contrast, Hong Kong's Hang Seng index was down 5.91 per cent, and Japan's Nikkei 225 was down 1.15 per cent. South Korea's Kospi was down 0.85 per cent and ASX 200 was down 0.21 per cent.

7:59 AM

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