Market Highlights, Sept 19: Sensex, Nifty end at record closing high after US Fed announces rate cut

Stock Market Highlights: Despite a choppy session, the day ended in favor of bulls, as many as 30 stocks of the Nifty50 index ended in the green with gains led by NTPC, Titan, and Nestle India

9:57 AM

Stock Market LIVE Updates: SpiceJet shares fly high after Rs 3000 crore QIP oversubscribed

Stock Market LIVE Updates: SpiceJet shares surged over 8 per cent and registered an intraday high of Rs 74.7 per share. The stock surged after reports said the airline has received a good response for its Rs 3,000 crore-worth sale of shares to qualified institutional buyers.

At around 9:18 AM, shares of SpiceJet were up 3.44 per cent at Rs 71.48 per share. In comparison, the BSE Sensex traded 584.12 points higher at 83,532.35, around the same time. READ MORE

9:55 AM

Stock Market LIVE Updates: Aditya Birla Capital climbs 2.5% on RBI approval to merge with AB Finance

Stock Market LIVE Updates: The RBI has approved the merger of Aditya Birla Finance with Aditya Birla Capital.

 

9:52 AM

Stock Market LIVE Updates: Tata Power gains on plans to double solar cell and module production capacity

Stock Market LIVE Updates: The company plans to double its solar cell and module manufacturing capacity over three years to mitigate supply chain risks. The company is also investing in energy storage solutions and has committed Rs 75,000 crore to achieve 20 GW operational capacity by 2030.

 

9:46 AM

Stock Market LIVE Updates: NTPC climbs 4% on plans to list green energy arm

Stock Market LIVE Updates: The company has filed for an IPO of its green energy arm, NTPC Green Energy Ltd, with an aim to raise approximately $1.2 billion (Rs 10,000 crore). The company focuses on renewable energy projects and hydrogen production.

 

9:40 AM

Stock Market LIVE Updates: Nazara Technologies sheds 3%

Stock Market LIVE Updates: Nazara Technologies has approved a preferential equity issue to raise Rs 900 crore and increased its stake in Absolute Sports, which operates Sportskeeda, to 91 per cent. 

 

9:36 AM

Stock Market LIVE Updates: Nifty to gain upside momentum above 25,500; MphasiS, OFSS see short buildup

Stock Market LIVE Updates: Equity market in India started Thursday's trading session on a positive note following the 50 basis points rate cut in the US. The BSE Sensex was up 550 points at 83,500, and the NSE Nifty 50 index had surged past the 25,500 level for the first-ever time.

The US Federal Reserve cut interest rates for the first time since March 2020. In its statement, the Federal Reserve noted, "Recent indicators suggest that economic activity has continued to expand at a solid pace. Job gains have slowed, but the unemployment rate remains low. Inflation has progressed toward the Committee's 2 per cent objective but is still somewhat elevated". READ MORE

9:26 AM

Stock Market LIVE Updates: IT index leading sectoral gains

Stock Market LIVE Updates: Across sectors, the IT index had climbed 1.55 per cent, followed by the Realty index (1.10 per cent). All other sectoral indices were also in the green.

 

9:20 AM

Stock Market LIVE Updates: Gains on benchmark indices led by IT and financial stocks

Stock Market LIVE Updates: All the constituent stocks of the BSE Sensex, and most of the stocks on the Nifty 50 were also trading higher.

Gains on both the benchmark indices were led by NTPC, IT and financial stocks

 

9:17 AM

Stock Market LIVE Updates: Sensex, Nifty open at record highs after 50bps cut by US Fed

Stock Market LIVE Updates: Indian benchmark indices BSE Sensex and Nifty 50 climbed to fresh all-time highs at opening bell, following gains in Asia-Pacific markets and Wall Street futures, after Jerome Powell-led US Federal Reserve announced a 50bps rate cut on Wednesday evening.

At opening bell, the BSE Sensex was at 83,359, up 410 points, or 0.50 per cent, while the Nifty 50 was at 25,487, up 109 points, or 0.43 per cent higher.

 

9:09 AM

Stock Market LIVE Updates: Sensex, Nifty at record highs at pre-open

Stock Market LIVE Updates: Indian equity benchmarks BSE Sensex and Nifty 50 climbed to fresh record highs on Thursday at pre-open, after the US Fed cut policy rates by 50bps.

At pre-open, the BSE Sensex was at 83,359, up 410 points, or 0.50 per cent, while the Nifty 50 was at 25,487, up 109 points, or 0.43 per cent higher.

 

9:01 AM

Stock Market LIVE Updates: 'The Fed's 50bps cut could lead equity markets to consolidate with an upward bias'

Stock Market LIVE Updates: "The big Fed rate cut by 50 bp has the potential to take equity markets into a consolidation phase with an upward bias. The Fed chief Powell’s remark that “we have gained greater confidence that inflation is moving sustainably towards 2%” is a very optimistic commentary of the US economy. At the same time US growth continues to be solid and the labour market is good. 
 

More rate cuts are expected from the Fed, going forward. The rate projections are 4.4% by end 2024 and 3.4% for end 2025. These will be big declines from the present 4.75 to 5% rate. 

The rate cuts by the Fed will pave the way for rate cuts in India, too. CPI inflation coming below the RBI’s target of 4% during the last 2 months will facilitate rate cuts. Two rate cuts of 25bp each are possible in India before March 2025. In brief the market scenario is turning favourable for rate-sensitives, particularly banking."

Views by: V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services

 

8:57 AM

Stock Market LIVE Updates: Tata Power to scale up internal renewable energy component supply chain

Stock Market LIVE Updates: To navigate the supply chain challenges in its renewable energy (RE) businesses, Tata Power is looking to scale up the manufacturing of key components to meet the group’s needs across RE projects. 

If there is a surplus, the company will export it too, mainly to the United States, its senior management told Business Standard on the sidelines of RE-Invest in Gandhinagar. READ MORE

8:56 AM

Stock Market LIVE Updates: LIC earmarks Rs 600 crore for digital shift; to be 'paperless' in 2 years

Stock Market LIVE Updates: State-run Life Insurance Corporation of India (LIC) has committed Rs 600 crore for its digital transformation journey, Sunder Krishnan, chief risk officer said on Wednesday. 

 

The insurance giant is also aiming to become completely "paperless" in two years. READ MORE

8:54 AM

Stock Market LIVE Updates: Net direct tax collection rises 16.12% to Rs 9.95 trillion till Sep 17

Stock Market LIVE Updates: Net direct tax collection grew 16.12 per cent to over Rs 9.95 trillion so far this fiscal on higher advance tax mop up.

Refunds worth over Rs 2.05 trillion were issued, a 56.49 per cent jump over the same period last fiscal. READ MORE

8:50 AM

Stock Market LIVE Updates: Investors subscribe Arkade Developers' IPO 29.42 times offer size on day 3

Stock Market LIVE Updates: The initial public offer of Arkade Developers got subscribed 29.42 times on Wednesday, day three of the share sale.

The Rs 410-crore initial share sale received bids for 69,94,46,440 shares against 2,37,75,719 shares on offer, according to NSE data. READ MORE