Stock Market Highlights, Aug 30: Benchmarks log record close; Sensex tops 82,350, Nifty near 25,250
Stock Market highlights: The Sensex, and Nifty50 ended at record high closing levels ahead of the Q1 FY25 GDP data to be released today
New Delhi
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Market, BSE, NSE, NIfty(Photo: Reuters)
8:25 AM
Stock Market Live Updates: Zepto adds $340 million to basket; valuation at $5 billion ahead of IPO
Stock Market Live Updates: Quick commerce major Zepto has raised $340 million in a follow-on financing round at a valuation of $5 billion as it gears up for an initial public offering (IPO).
This is Zepto’s third big-ticket fundraise within a year. With this, the company has raised more than $1 billion in 12 months. READ MORE
8:23 AM
If this plan fructifies, a Rs 10,000 crore investment under the proposed PLI scheme would bring with it the expectation of creating 15,000-20,000 direct jobs in electronic components sector. READ MORE
Stock Market Live Updates: Meity plans jobs push in proposed electronic components PLI scheme
Stock Market Live Updates: The Ministry of Electronics and Information Technology (Meity) is looking at a proposal to generate 1.5-2 direct jobs for every Rs 1 crore invested by companies under the proposed electronic components production-linked incentive (PLI) scheme.
If this plan fructifies, a Rs 10,000 crore investment under the proposed PLI scheme would bring with it the expectation of creating 15,000-20,000 direct jobs in electronic components sector. READ MORE
8:21 AM
Stock Market Live Updates: Stocks to watch: NTPC, IndiGo, Shipping Corp, LIC, SpiceJet, Sugar Cos
Stock Market Live Updates: NTPC: The company's step-down subsidiary NTPC REL has started commercial operations from the first part of the 320 MW Bhainsara solar PV project in Jaisalmer, Rajasthan, with a capacity of 160 MW. The total installed capacity of the NTPC group has now reached 76,294 MW after this development. READ MORE
8:19 AM
Its Chairman and Managing Director Mukesh Ambani, however, did not share any details on a potential listing of the company’s retail and telecom divisions, a key announcement that the market was hoping for. READ MORE
Stock Market Live Updates: Reliance Industries to consider bonus issue of shares, a first in 7 years
Stock Market Live Updates: Energy-to-telecom conglomerate Reliance Industries at its annual general meeting on Thursday made several key announcements, including a proposal to issue 1:1 bonus shares, plans to rank among the world’s top 30 companies, and detailed timelines for its new energy business.
Its Chairman and Managing Director Mukesh Ambani, however, did not share any details on a potential listing of the company’s retail and telecom divisions, a key announcement that the market was hoping for. READ MORE
8:18 AM
The current consolidation range for the index is expected to be between 23,125 and 22,710. A trade above 23,125 would likely trigger a bullish move, while a trade below 22,710 could lead to a bearish trend.
Given this situation, the best trading strategy for near-term traders would be to wait for a clear breakout above or below this range before making any significant trading decisions. READ MORE
Stock Market Live Updates: Nifty FMCG shows signs of near term correction; check key levels here
Stock Market Live Updates: The Nifty Pharma Index is currently exhibiting a bullish trend on the charts, indicating a positive market sentiment towards this sector. However, the index is nearing its resistance level, suggesting that it might face some challenges in breaking higher in the short term.
The current consolidation range for the index is expected to be between 23,125 and 22,710. A trade above 23,125 would likely trigger a bullish move, while a trade below 22,710 could lead to a bearish trend.
Given this situation, the best trading strategy for near-term traders would be to wait for a clear breakout above or below this range before making any significant trading decisions. READ MORE
8:16 AM
The NSE Nifty 50 and the S&P BSE Sensex both rose about 0.6 per cent to hit all-time highs, before trimming some gains to settle up 0.4 per cent at record closing levels.
The Nifty 50 has risen for 11 consecutive sessions, adding about 4 per cent to post its longest winning streak since October 2007.
Indian markets are among the top performers globally this year, helped by hefty domestic inflows amid a robust economic and earnings outlook. READ MORE
Stock Market Live Updates: RIL boosts shares to record, Nifty logs longest gaining streak in 17 yrs
Stock Market Live Updates: India's equity benchmarks hit record highs on Thursday, boosted by heavyweight conglomerate Reliance Industries, which plans to step up the adoption of AI and issue bonus shares.
The NSE Nifty 50 and the S&P BSE Sensex both rose about 0.6 per cent to hit all-time highs, before trimming some gains to settle up 0.4 per cent at record closing levels.
The Nifty 50 has risen for 11 consecutive sessions, adding about 4 per cent to post its longest winning streak since October 2007.
Indian markets are among the top performers globally this year, helped by hefty domestic inflows amid a robust economic and earnings outlook. READ MORE
8:15 AM
Market participants near home will eye the release of second-quarter gross domestic product (GDP) data and industrial output year-on-year (Y-o-Y) data today. India's economic growth is likely to have slowed in the April-June quarter because of reduced government spending during the national elections and stalling consumption.
A Reuters poll of 52 economists projected GDP growth of 6.9 per cent Y-o-Y for the three months through June, the first quarter of India's 2024/25 fiscal year. This projection is below the central bank's estimate of 7.1 per cent and the 7.8 per cent growth rate of the previous quarter. READ MORE
Stock Market Live Updates: RIL GDR up 3%, India Q2 GDP, Baazar Style IPO on radar
Stock Market Live Updates: The Indian share market is likely to open flat tracking mixed global cues. At 7:14 AM GIFT Nifty futures were up 17.5 points at 25,287.5.
Market participants near home will eye the release of second-quarter gross domestic product (GDP) data and industrial output year-on-year (Y-o-Y) data today. India's economic growth is likely to have slowed in the April-June quarter because of reduced government spending during the national elections and stalling consumption.
A Reuters poll of 52 economists projected GDP growth of 6.9 per cent Y-o-Y for the three months through June, the first quarter of India's 2024/25 fiscal year. This projection is below the central bank's estimate of 7.1 per cent and the 7.8 per cent growth rate of the previous quarter. READ MORE
8:11 AM
Moody’s has pegged the 2025 growth forecast at 6.6 per cent against 6.4 per cent. READ MORE
Stock Market Live Updates: Moody's raises India's growth projection; Fitch affirms 'BBB-' rating
Stock Market Live Updates: Moody’s Ratings raised India’s gross domestic product (GDP) growth projection for this calendar year to 7.2 per cent from 6.8 per cent previously on the back of expectations of robust broad-based recovery and signs of improving rural demand, while Fitch affirmed the country's sovereign credit rating, the agencies said on Thursday.
Moody’s has pegged the 2025 growth forecast at 6.6 per cent against 6.4 per cent. READ MORE
8:09 AM
Brent crude futures for October delivery expire on Friday and were unchanged.
The more actively traded contract for November fell 7 cents or 0.09 per cent to $78.75. US West Texas Intermediate crude futures were down 11 cents, or 0.14 per cent, to $75.80.
Both contracts settled more than $1 higher on Thursday driven by oil supply concerns.
Stock Market Live Updates: Oil steady as traders take stock of Middle East supply concerns
Stock Market Live Updates: Oil prices were steady in early trading on Friday as investors weighed supply concerns in the Middle East against signs of weakened demand.
Brent crude futures for October delivery expire on Friday and were unchanged.
The more actively traded contract for November fell 7 cents or 0.09 per cent to $78.75. US West Texas Intermediate crude futures were down 11 cents, or 0.14 per cent, to $75.80.
Both contracts settled more than $1 higher on Thursday driven by oil supply concerns.
8:00 AM
Initial jobless claims in the US fell to 231,000 from the prior week’s 232,000, but were slightly higher than the 230,000 expected by Dow Jones.
In the Asian markets, Japan’s Nikkei 225 was marginally up, while the Topix was 0.23 per cent higher. South Korea’s Kospi had gained 0.55 per cent in early trade, while the small-cap Kosdaq was 0.74 per cent higher.
Meanwhile, Australia’s S&P/ASX 200 rose 0.46 per cent, and Hong Kong's Hang Seng index futures were at 17,741, lower than the HSI’s last close of 17,786.32.
Stock Market Live Updates: Asia markets climb higher
Stock Market Live Updates: Asia-Pacific markets climbed on Friday after economic data in the US showed the country's economy grew at an estimated 3 per cent in the second quarter.
Initial jobless claims in the US fell to 231,000 from the prior week’s 232,000, but were slightly higher than the 230,000 expected by Dow Jones.
In the Asian markets, Japan’s Nikkei 225 was marginally up, while the Topix was 0.23 per cent higher. South Korea’s Kospi had gained 0.55 per cent in early trade, while the small-cap Kosdaq was 0.74 per cent higher.
Meanwhile, Australia’s S&P/ASX 200 rose 0.46 per cent, and Hong Kong's Hang Seng index futures were at 17,741, lower than the HSI’s last close of 17,786.32.
7:55 AM
The 30-stock index rose 243.63 points, or 0.59 per cent, for a fresh record close of 41,335.05.
Meanwhile, the S&P 500 ended the session just below the flatline at 5,591.96, and the Nasdaq Composite slid 0.23 per cent to end at 17,516.43.
That apart, US Commerce Department data showed that the US economy grew at a 3 per cent annualized rate last quarter (Q2), indicating that the Federal Reserve would have room to begin cutting rates in September.
Stock Market Live Updates: US markets end on mixed note; US Q2 GDP at 3 per cent
Stock Market Live Updates: Overnight in the US, the Dow Jones Industrial Average climbed to a record on Thursday, as Wall Street tried to resume its comeback from a steep sell-off earlier this month.
The 30-stock index rose 243.63 points, or 0.59 per cent, for a fresh record close of 41,335.05.
Meanwhile, the S&P 500 ended the session just below the flatline at 5,591.96, and the Nasdaq Composite slid 0.23 per cent to end at 17,516.43.
That apart, US Commerce Department data showed that the US economy grew at a 3 per cent annualized rate last quarter (Q2), indicating that the Federal Reserve would have room to begin cutting rates in September.
7:48 AM
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First Published: Aug 30 2024 | 7:45 AM IST
