Market Close Highlights, Oct 10: Sensex adds 144 pts, Nifty nears 25,000; Banking shares shine

Stock Market Close Highlights, Oct 10, 2024: Kotak Mahindra Bank, JSW Steel, HDFC Bank, Bharat Electronics, and IndusInd Bank were among the 23 constituent stocks of the Nifty50 that ended in the gree

8:41 AM

Stock Market LIVE Updates: Sebi approves appointment of Vijay Chandok as new NSDL head

The Securities and Exchange Board of India (Sebi) has approved the appointment of Vijay Chandok as the managing director and chief executive officer (MD & CEO) of National Securities Depository (NSDL), the country's largest depository. Chandok currently serves as the MD & CEO of ICICI Securities, the broking and investment banking arm of ICICI Bank. Read more

8:39 AM

Stock Market LIVE Updates: Nomura sees robust growth ahead for domestic asset management cos

Stock Market LIVE Updates: Indian asset management companies (AMCs) are showing strong growth potential as the ‘underpenetrated’ mutual funds (MFs) continue to grow their share in household savings, Nomura said on Tuesday.

The brokerage said increasing retail participation and the resultant momentum in systematic investment plan (SIP) inflows are key tailwinds for the sector. Read more

8:37 AM

Stock Market LIVE Updates: Demat account tally tops 175 mn; rises by 4.4 mn in September 2024

The number of dematerialised (demat) accounts — used for holding shares and other securities electronically — rose by 4.4 million in September, reaching a total of 175.4 million. It marks an average addition of 4 million accounts monthly since the beginning of 2024. Read more

8:35 AM

Stock Market LIVE Updates | TCS Q2 Preview: Analysts expect single-digit profit rise, focus on outlook

Tata Consultancy Services (TCS), the largest Indian information technology firm is set to report its financial performance for the July-September quarter of fiscal year 2024-25 (Q2FY25) on Thursday, October 10. The Indian IT major is expected to register a single digit rise in its topline and bottomline compared to the September quarter of FY24. 

According to brokerages tracked by Business Standard, TCS will likely report an average revenue increase of 7.2 per cent year-on-year (Y-o-Y) to Rs  63,993.2 crore. Sequentially revenues may only rise by 2.8 per cent. The company registered revenues of Rs 59,692 crore in Q2FY24 and Rs 62,229 crore in the June quarter of FY25. Read more

8:31 AM

Stock Market LIVE Updates: Gold down Rs 10 at Rs 76,680; silver dips Rs 100, trading at 94,000/kg

Gold Price Today: The price of 24-carat gold fell Rs 10 in early trade on Thursday, with ten grams of the precious metal trading at Rs 76,680 according to the GoodReturns website. The price of silver also fell Rs 100, with one kilogram of the precious metal selling at Rs 93,900. The price of 22-carat gold also witnessed a decline of Rs 10, with ten grams of the yellow metal selling at Rs 70,290. Read more

8:28 AM

Stock Market LIVE Updates: Auto major Hyundai sets ball rolling on India's biggest IPO at Rs 27,856 cr

South Korean carmaker Hyundai Motor Company (HMC) will divest Rs 27,856 crore worth of shares through the maiden share sale of its domestic arm, Hyundai Motor India (HMIL), setting the stage for India’s biggest initial public offering (IPO).

India’s second-largest passenger vehicles firm will be valued at Rs 1.59 trillion at the top-end of the price band of Rs 1,865-Rs 1,960. The IPO will remain open between October 15 and October 17. Read more

8:26 AM

Stock Market LIVE Updates: Stocks to Watch: Tata stocks, AEL, Vedanta, JSW Infra, ICICI Sec, Jio Fin

Stock Market LIVE Updates: | Vedanta:The company has repaid $869 million to bondholders, redeeming bonds due in 2027 and 2028 ahead of maturity as part of a liquidity management strategy. This move is expected to save the company on interest costs.

 

JSW Infrastructure:The company has received a Letter of Intent from the Maharashtra Maritime Board to develop a multipurpose port in Palghar district. The project, costing approximately Rs 4,259 crore, is expected to create 1,500 jobs and aligns with JSW's growth plan to increase capacity significantly by FY30.

 

ICICI Securities:The National Company Law Tribunal has approved the delisting of ICICI Securities, following a scheme that will make it a wholly-owned subsidiary of ICICI Bank. Shareholders will receive 67 shares of ICICI Bank for every 100 shares of ICICI Securities they hold. Minority shareholder objections have been dismissed.

 

Jio Financial Services:Jio Payments Bank, a part of Jio Financial Services, has secured a mutual fund distribution license from AMFI, enabling it to distribute direct mutual fund plans. This aligns with Jio Financial Services' broader strategy to expand in the financial services sector, including a joint venture with
BlackRock.

Tata stocks:Stocks of Tata group companies will be in focus, following the demise of its Chairman Emeritus, Ratan Naval Tata on the intervening night of Thursday, October 10. Read more

 

8:24 AM

Stock Market LIVE Updates: Buy & Sell, Oct 10; top stock picks by Ajit Mishra of Religare Broking

Stock Market LIVE Updates: Markets traded in a volatile manner and ended nearly flat, continuing the current corrective phase. While the session started on a positive note, selling pressure in select heavyweight stocks wiped out early gains as the day went on. The MPC meeting results were largely as expected, so they didn't spark much reaction in the market. Read more

8:22 AM

Stock Market LIVE Updates: Market Today: Ratan Tata dies, TCS Q2, GIFT Nifty up 100 pts, Israel war

Stock Market Today, October 10, 2024:Benchmarks Nifty50 and Sensex may witness a higher opening today, buoyed by mostly positive global cues. At 6:30 AM, GIFT Nifty Futures were up 123 points at 25,207, indicating a gap-up opening for the Indian bourses. 

 

Meanwhile, Ratan Tata, chairman emeritus of Tata Sons, passed away on Wednesday, October 9, at the age of 86 in a Mumbai hospital, where he had been in critical condition. His demise will also put Tata Group stocks like Tata Motors, Tata Steel, Tata Technologies and Trent, among others in the spotlight today.

 

Earlier on Monday, stocks had slipped amid reports of his deteriorating health.

TCS Q2 results today

TCS Q2 results press conference has been cancelled due to Ratan Tata's death, though results will be released today. Read more

8:21 AM

Stock Market LIVE Updates: Should you sell Nifty Auto, IT on rise? Here's what analysts recommend

Stock Market LIVE Updates: The Nifty IT Index is currently trading close to its key resistance level, making it a prime candidate for a "sell on rise" strategy for near-term traders. The resistance level to watch is 43,200, and a strict stoploss should be maintained at this level on a closing basis. If the index fails to breach this resistance, a downward movement is expected, providing selling opportunities for traders looking to capitalize on the near-term weakness. Read more

8:17 AM

Stock Market LIVE Updates: GIFT Nifty futures hint higher start for Sensex, Nifty

Stock Market LIVE Updates: At 08:15 AM; the GIFT Nifty futures were quoting 73 points higher than Nifty50 futures at 25,192 level. 

8:08 AM

Stock Market LIVE Updates: Brent crude futures trades at $76.91

Stock Market LIVE Updates: Brent crude futures were 0.43 per cent higher on Thursday morning at $76.91 per barrel. 

8:05 AM

Stock Market LIVE Updates: Asia Pacific Markets mixed

Stock Market LIVE Updates: Markets in the Asia-Pacific region were mostly higher, following gains on Wall Street.

Hong Kong's Hang Seng Index was up 2.1 per cent, while mainland China's Shanghai Composite was down 0.81 per cent and the CSI 300 had declined by 2.03 per cent.

Japan's Nikkei 225 was trading 0.2 per cent higher, and South Korea's Kospi was ahead by 0.5 per cent. 

Australia’s S&P/ASX 200 was up 0.6 per cent. 

 

8:00 AM

Stock Market LIVE Updates: Dow, S&P 500 close at record highs

Stock Market LIVE Updates: US stocks gained after the release of Fed's minutes, with both the Dow and S&P 500 closing at record levels.

The Dow Jones Industrial Average rose 431.63 points, or 1.03 per cent, to 42,512.00, the S&P 500 rose 40.91 points, or 0.71 per cent, to 5,792.04 and the Nasdaq Composite rose 108.70 points, or 0.60 per cent, to 18,291.62.

 

7:54 AM

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