Market Close Highlights: Sensex ends 50 pts lower at 79,500; Nifty at 24,150; PSB, Oil drag, IT up

Stock Market Highlights: Benchmark Indian equity indices ended in the red for the second straight session on Friday, weighed most by financial and OMC stocks

9:16 AM

Stock Market LIVE Updates: Sensex slumps 150 pts

The BSE Sensex slumped 174 points 0.22 per cent 79,366 level. 

9:13 AM

Stock Market LIVE Updates: Nifty above 24,200 in pre-open

Nifty above 24,200 in pre-open

9:11 AM

Stock Market LIVE updates: Sensex flat with a positive bias in pre-open

The BSE Sensex settled at 79,611 level in pre-open, up 70 points or 0.09 per cent.

9:05 AM

Stock Market LIVE Updates: Rupee depreciates 10 paise

The Indian cureency Rupee depreciated 10 paise at Rs 84.37 against the US dollar on Friday.

8:56 AM

Stock Market LIVE Updates: Investors can shift from overvalued mid and smallcaps to quality largecaps'

Stock Market LIVE Updates: "Two divergent trends are evident in the market now: one, strength in the global market led by the US and two, weakness in the Indian market. 

The record setting uptrend in the US market is being driven now by the ‘Trump trade’, expectations of implementation of the promised corporate tax cuts and its positive impact on US corporate earnings. 

The weakness in the Indian market can be attributed largely to the relentless selling by FIIs which continues this month, too. After the massive FII selling of Rs 1,13,858 crores in October, FIIs have so far, in November, sold equity for Rs 16,445 crores in the cash market. 

The rationale for the FII selling is the elevated valuations in India which appear conspicuous in the context of the earnings deceleration evident in the Q2 numbers. 

If the Q3 numbers and leading indicators reflect recovery in earnings, the scenario can change with FIIs reducing selling and even turning buyers. Investors will have to wait and watch for the data. 

Meanwhile, investors can consider shifting some money from the overvalued mid and smallcaps to quality largecaps. This strategy will turn profitable in the medium to long run."
 

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

8:53 AM

Stock Market LIVE Updates: Rupee hits another low on rise in crude oil prices, equity selloff

Stock Market LIVE Updates: The rupee depreciated to a fresh low of 84.38 per dollar on Thursday as foreign investors continued to sell domestic equities and crude oil prices rose. The caution ahead of the US Federal Reserve meeting outcome further weighed on the Indian unit.

 

Market participants said that with strengthening dollar and rise in US yields after the US presidential election results, the Reserve Bank of India (RBI) has been allowing gradual depreciation of the rupee in line with its Asian peers. READ MORE

 

8:49 AM

Stock Market LIVE Updates: Policy approach: How RBI is taking a selective and cautious stance

Stock Market LIVE Updates: Over the years, large central banks have worked on improving communications to avoid any misunderstanding or misinterpretation of policy by financial markets. The Reserve Bank of India (RBI) is no exception. 

 

In the context of monetary policy, besides the governor’s policy statement and the resolution of the Monetary Policy Committee (MPC), the deliberation and decision of the committee are explained at length in the media conference by the top leadership of the central bank, led by the governor. READ MORE

 

 

8:45 AM

Stock Market LIVE Updates: Federal Reserve cuts key interest rate by 25 bps to support economy

Stock Market LIVE Updates: The Federal Reserve cut its benchmark lending rate by a quarter percentage point Thursday, extending efforts to keep the US economic expansion on solid footing.

 

Officials voted unanimously to lower the federal funds rate to a range of 4.5% to 4.75%. The adjustment follows a larger, half-point cut in September. READ MORE

 

8:38 AM

Stock Market LIVE Updates: BS BFSI Summit: Market gurus say valuations limit near-term upside

Stock Market LIVE Updates: Despite the Indian economy being on a structurally sound path, the equity valuation 'premium' for the Indian stock markets has 'limited room to expand' in the short-to-medium term, stock market gurus said at a panel discussion at the Business Standard BFSI Insight Summit on Thursday. That said, a person’s investment horizon is key for making returns from the market, they concurred. READ MORE

 

8:37 AM

Stock Market LIVE Updates: Sagility India IPO allotment: Check status, GMP, & likely listing price

Stock Market LIVE Updates: The basis of allotment for Sagility India IPO shares is scheduled for today, Friday, November 8, 2024. The three-day subscription window to bid for the Sagility India IPO closed yesterday, receiving decent participation from investors.

 

The Rs 2,106.60 crore public offering of Sagility India, available at a price band of Rs 28-30 with a lot size of 500 shares, received bids for 1,24,00,17,000 shares against the 38,70,64,594 shares on offer, resulting in an oversubscription of 3.20 times by the last date of subscription, as per BSE data. READ MORE

 

8:33 AM

Stock Market LIVE Updates: Proactively made all disclosures, recusals: Sebi WTM on Cong's charges

Stock Market LIVE Updates: Ananth Narayan, whole-time member (WTM), the Securities and Exchange Board of India (Sebi), has responded to allegations of conflict of interest due to personal investments.

 

He emphasised that industry professionals entering the regulatory space typically have pre-existing assets and investments. READ MORE

 

8:30 AM

Stock Market LIVE Updates: BS BFSI Summit: Sebi WTM Ananth Narayan for strengthening of MII ecosystem

Stock Market LIVE Updates: The focus on commercial objectives by market infrastructure institutions (MIIs) can potentially lead to de-prioritisation of their role as the first line of regulator and public utility provider, cautioned Ananth Narayan, whole-time member (WTM) of the Securities and Exchange Board of India (Sebi). READ MORE

 

8:29 AM

Stock Market LIVE Updates: Market regulator Sebi may water down skin-in-game rules for MF executives

Stock Market LIVE Updates: The Securities and Exchange Board of India (Sebi) has shown intent to relax the skin-in-the-game norms app­licable to senior executives of the mutual fund (MF) industry.

In a discussion paper, Sebi has proposed to reduce the minimum man­da­tory investment requirement for the designated MF employees, especi­ally those with lower in-hand salary. READ MORE

 

8:28 AM

Stock Market LIVE Updates: BS BFSI Summit - Market gurus say valuations limit near-term upside

Stock Market LIVE Updates: Despite the Indian economy being on a structurally sound path, the equity valuation 'premium' for the Indian stock markets has 'limited room to expand' in the short-to-medium term, stock market gurus said at a panel discussion at the Business Standard BFSI Insight Summit on Thursday.

That said, a person’s investment horizon is key for making returns from the market, they concurred. READ MORE

 

8:26 AM

Stock Market LIVE Updates: Gold price dips Rs 10 to Rs 78,550, silver falls Rs 100 to Rs 92,900

Stock Market LIVE Updates: The price of 24-carat gold dipped Rs 10 in early trade on Friday, with ten grams of the precious metal trading at Rs 78,550 according to the GoodReturns website. The price of silver fell Rs 100, with one kilogram of the precious metal selling at Rs 92,900.

 

The price of 22-carat gold also fell Rs 10, with ten grams of the yellow metal selling at Rs 71,990. READ MORE