Market Highlights, Sept 20: Sensex up 1360pts, ends above 84,500; Nifty near 25,800 amid broad gains

Stock Market Highlights: Indian equity benchmark indices ended the week's last trading session at record high closing levels

8:58 AM

Stock Market LIVE Updates: RBI Guv Das stabilises volatile rupee with $689 billion forex reserves

Stock Market LIVE Updates: India’s central bank chief Shaktikanta Das has pulled off a rare balancing act: Clamping down on volatility in the rupee while allowing it to drift lower to aid Prime Minister Narendra Modi’s export ambitions. 

The Reserve Bank of India’s foreign-exchange reserves have swelled to almost $700 billion in a move reminiscent of China’s accumulation two decades ago. Frequent interventions under Das, whose six years in office are due to end in December, have transformed the rupee from Asia’s most volatile currency to one of the least. READ MORE

8:56 AM

Stock Market LIVE Updates: Govt-owned refiners likely to ink Russian crude term deal by FY26

Stock Market LIVE Updates: A joint front of State-owned refiners is discussing crude oil purchase from Russia under a term deal that may be sealed in the next financial year (FY26), petroleum ministry sources said.

"The talks have been overtaken by a change in crude price. Now, the whole equation changes," one of the sources said, indicating the deal may reach completion in FY26. Crude oil from Russia is usually purchased on spot prices, while long-term contracts are usually reserved for crude from India's traditional import sources in the Middle East. Spot purchase allows refineries to secure different grades of oil, otherwise unavailable. READ MORE

8:52 AM

Stock Market LIVE Updates: AstraZeneca Pharma to launch lower respiratory tract drug Palivizumab in October

Stock Market LIVE Updates: AstraZeneca Pharma today announced that  it will launch lower respiratory tract disease drug Palivizumab in India, in October. 

The company has already received approval for the drug from the Drugs Controller General of India, it said in an exchange filing. 

Palivizumab (Synagis) is indicated for the prevention of serious lower respiratory tract disease requiring hospitalisation caused by respiratory syncytial virus (RSV) in children at high risk for RSV disease, the company added. 

8:47 AM

Stock Market LIVE Updates: IndoStar Capital Finance to sell IndoStar Home Finance to EQT for Rs 1,750 crore

Stock Market LIVE Updates: IndoStar Capital Finance (IndoStar) today announced that its board of directors has approved the sale of its subsidiary, IndoStar Home Finance Private Limited (IHFPL) to WITKOPEEND B.V., an affiliate of BPEA EQT Mid-Market Growth Partnership, a global private equity investor, for Rs 1,750 crore on a fully diluted basis.

The company, in an exchange filing, said, "The transaction is subject to customary conditions precedent, including receipt of RBI approval, consents from lenders and shareholders’ approval." 

It added, "EQT plans to invest Rs 500 crore into IHFPL upon or shortly after closing of this transaction, and the board of IHFPL has granted an in-principle approval for such infusion."

8:34 AM

Stock Market LIVE Updates: KEC's banking facilities worth Rs 18,500 cr downgraded by CARE Ratings

Stock Market LIVE Updates: KEC International today announced that CARE Ratings has downgraded some of the banking facilities availed by the company.

KEC, in an exchange filing, said CARE has downgraded its Rs 3,000 crore long term bank facility to A+, with Stable outlook, from the earlier AA- and Negative outlook.

Apart from that, it has also downgraded the company's long-/ short-term bank facilities worth Rs 15,500 crore to A+, with Stable outlook, and A1+. 

Earlier these facilities were rated AA-, with a negative outlook. Ratings of short term bank facility were reaffirmed, the company said.

Meanwhile, CARE has assgined KEC's NCD's with an A+ rating and a stable outlook.

8:18 AM

Stock Market LIVE Updates: Synergy Green Industries receives trading rights approval from bourses

Stock Market LIVE Updates: Synergy Green Industries today announced that it has received approval from the NSE and BSE regarding trading of rights entitlements.

The company, in an exchange filing, said, "This is to inform you that the Company has received the trading approval of Rights Entitlements w.r.t., the rights issue to be opened by Synergy Green Industries Limited, from the respective Stock Exchanges." 

Rights Entitlement is the rights issued by the company to the existing shareholders to subscribe to the new shares, or other securities that the shareholder of a company is eligible to apply for under the rights offer.

8:12 AM

Stock Market LIVE Updates: India, S Korea share bill of lading electronically to promote trade: DGFT

Stock Market LIVE Updates: India and South Korea have started sharing the bill of lading in an electronic transfer mode between the customs of both sides, a move that will help promote ease of doing business, a senior official said on Thursday.

A bill of lading is a legal document that serves as a receipt, contract, and proof of ownership for shipped goods. READ MORE

8:10 AM

Stock Market LIVE Updates: India should establish clear obligations for domestic PEPs: FATF

Stock Market LIVE Updates: India needs to establish due diligence on domestic politically exposed persons (PEP), tighten checks on transactions involving gems and jewellery, and protect the non-profit sector from terrorist abuse, said the global anti-money laundering and terror financing body, Financial Action Task Force (FATF), on Thursday. READ MORE

8:09 AM

Stock Market LIVE Updates: Nifty Pharma, FMCG indices range-bound; Check support and other levels here

Stock Market LIVE Updates: The Nifty Pharma Index is currently trading in a defined range between 23,700 and 22,700.

This suggests that the market is experiencing indecision, with neither buyers nor sellers dominating. READ MORE

8:07 AM

Stock Market LIVE Updates: In export push, govt steps in to raise container capacity amid shortage

Stock Market LIVE Updates: Concerned over the fallout of the Red Sea crisis and severe shortage of containers against the backdrop of a steep decline in merchandise exports in August, the Union government is pulling out all the stops to find a solution.

To begin with, the government has devised a strategy aimed at boosting container supply and supporting exporters. READ MORE

8:05 AM

Stock Market LIVE Updates: RBI to infuse Rs 25K cr via VRR as liquidity turns deficit after two months

Stock Market LIVE Updates: Banking system liquidity fell into deficit mode on Tuesday after more than two months on the back of GST outflows and advanced tax payments, market participants said.

The last time liquidity was in the deficit was on June 27. On Wednesday, the liquidity deficit stood at Rs 2,626 crore, according to the latest data by the Reserve Bank of India (RBI).

Consequently, RBI announced on Thursday that it plans to conduct a 14-day variable rate repo (VRR) auction on Friday to infuse up to Rs 25,000 crore in the banking system. READ MORE

8:03 AM

Stock Market LIVE Updates: India to become third-largest economy by 2030-31, says S&P Global

Stock Market LIVE Updates: India is set to become the world’s third-largest economy by 2030–31, as per S&P Global India. The country is forecast to grow at an annual rate of 6.7 per cent.

India emerged as the fastest-growing large economy, with gross domestic product (GDP) growth at the rate of 8.2 per cent in the financial year (FY) 2024, surpassing the government's earlier estimate of 7.3 per cent. READ MORE

8:02 AM

Stock Market LIVE Updates: Bank of England keeps main rate on hold at 5% in wake of US Fed cut

Stock Market LIVE Updates: The Bank of England has kept its main interest rate unchanged at 5% despite a big cut from the US Federal Reserve, its first since the onset of the coronavirus pandemic more than four years ago.
 

The decision Thursday was widely expected amid ongoing concerns about inflation within the bank's monetary policy committee, particularly the elevated levels in the crucial services sector, which accounts for around 80% of the British economy. READ MORE

 

8:01 AM

Stock Market LIVE Updates: Impact of US Fed rate cut might be muted in India: CEA Nageswaran

Stock Market LIVE Updates: The impact of the US Federal Reserve’s rate cut might be muted in India as much of it was already priced in, Chief Economic Advisor V Anantha Nageswaran said on Thursday.

Speaking on the issue, Economic Affairs Secretary Ajay Seth told reporters that the Fed rate cut would not have a significant impact on foreign inflows into India. READ MORE

7:58 AM

Stock Market LIVE Updates: Stock Market Today - Dow, S&P 500 hit record highs; your trading guide for Sept 20

Stock Market LIVE Updates: Domestic benchmark indices-- Sensex and Nifty-- are likely to open in green tracking positive global cues. The indices hit new record highs in the previous session after the US Federal Reserve cut interest rates by 50 basis points (bps). At around 6:48 AM, GIFT Nifty futures were up 54.9 points at 25,544.

In the US, the S&P 500 and Dow Jones closed at record highs  aday after the US Fed's policy decision. The Dow Jones finished up 1.26 per cent and the S&P 500 closed 1.7 per cent higher. Similarly, the Nasdaq Composite gained 2.51 per cent.