Market Highlights, Sept 26: Record Highs! Sensex up 666pts; Nifty ends atop 26,200; Auto, metal zoom

Stock Market Highlights: Benchmark equity indices, the BSE Sensex and NSE Nifty50, scaled fresh highs before ending at new closing high levels on Thursday

8:48 AM

Stock Market LIVE Updates: Zaggle Prepaid to acquire 98.32% stake in Span Across IT Solutions for Rs 32.07 cr

Stock Market LIVE Updates: Zaggle Prepaid Ocean Services today announced that its board of directiors, in a meeting held on Wednesday, September 25, approved the acquisition of 10,66,314 equity shares of Span Across IT Solutions Private Limited, constituting a 98.32% stake in it.

The company, in an exchange filing, said, "This is to inform you that the meeting of the Board of Directors of Zaggle Prepaid Ocean Services Limited held today i.e. Wednesday, September 25, 2024, has, inter alia, approved the acquisition of 10,66,314 Equity Shares of face value of Rs 10 each at a price of Rs. 300.80 per share (including a premium of Rs. 290.80 per share), constituting 98.32% stake in Span Across IT Solutions Private Limited.

The company added that following the conclusion of the deal, Span Across will become a subsidiary of the company, and it will give Zaggle an opportunity to enter new segment of employee related business.

8:39 AM

Stock Market LIVE Updates: Consensus eludes GoM on GST rate rationalisation, over 100 items discussed

Stock Market LIVE Updates: The Group of Ministers (GoM) on goods and services tax (GST) rate rationalisation, which convened in Goa on Wednesday, reviewed the GST rates for over 100 items, including textiles, handloom goods, agricultural products, fertilisers, and educational materials.

However, no consensus was reached on any of the items, with further discussions scheduled for next month in Delhi. READ MORE

8:38 AM

Stock Market LIVE Updates: 10 yrs of 'Make in India': Govt eyes $100 bn FDI inflows annually

Stock Market LIVE Updates: The government is looking at a target of $100 billion foreign direct investment (FDI) inflows per annum in the coming years, in line with India’s thrust towards the “Make in India” programme, Department for Promotion of Industry and Internal Trade (DPIIT) Secretary Amardeep Singh Bhatia said on Wednesday.

 

“We are targeting much higher investment flows. We have about $70-80 billion FDI inflows, which are coming in every year; we are expecting this to increase to at least $100 billion a year in the years to come,” Bhatia told reporters at a press conference on the completion of 10 years of the “Make in India” initiative. READ MORE

8:29 AM

Stock Market LIVE Updates: Centre starts talks for retaliatory measures against EU steel tariff

Stock Market LIVE Updates: The department of commerce has started intense consultations with relevant government departments and ministries to finalise products from the European Union (EU) that will attract higher import duty — as part of India’s retaliatory measures against the trade bloc’s steel tariff.

“We are in the process of finalising (the products). We are having discussions with concerned ministerial departments to select the products on which we will put in the tariffs,” a top government official told Business Standard. READ MORE

8:28 AM

Stock Market LIVE Updates: Mega IPOs to shine this Diwali: Hyundai, Swiggy, NTPC Green set for launch

Stock Market LIVE Updates: The stage appears set for the launch of initial public offerings (IPOs) worth over Rs 50,000 crore around Diwali — in late October or early November.

Among the major upcoming offerings is carmaker Hyundai Motor India’s IPO, which is expected to become the largest-ever in the country at over Rs 25,000 crore. In tow are foodtech major Swiggy’s issue with an estimated size of Rs 11,600 crore and renewable power player NTPC Green Energy’s Rs 10,000 crore offer. READ MORE

8:27 AM

Stock Market LIVE Updates: Stocks to watch today

Stock Market LIVE Updates: SBI, Vedanta, HDFC Bank, Piramal Pharma, and Bank of India, are among the few stocks likely to be in focus today. 

8:26 AM

Stock Market LIVE Updates: Nifty IT shows bearish trend, Nifty Auto overbought; trading strategy here

Stock Market LIVE Updates: The Nifty IT Index is currently exhibiting a bearish trend in the near term. A close below 41,600 would trigger additional selling pressure, pushing the index towards its key support levels at 40,750, 38,925, and 37,500. Given this outlook, the best trading strategy would be to adopt a "sell on rise" approach.

Traders should look for opportunities to short the index during any upward moves, while maintaining a strict stop-loss at 43,590 on a closing basis to minimise risk. This bearish sentiment is expected to dominate unless a significant technical reversal occurs, but the current chart setup suggests that selling pressure will continue, especially if 41,600 is breached. READ MORE

8:25 AM

Stock Market LIVE Updates: Ajit Mishra from Religare Broking suggests buying these three stocks today

Stock Market LIVE Updates: Markets experienced a volatile session but managed to extend their upward trend, with a sharp rally in the last half hour pushing Nifty to close near the day’s high at 26,004.15.

Throughout most of the day, the tone was subdued, while sectoral performance was mixed. Energy and realty sectors posted gains, whereas IT and FMCG lagged. Profit-taking in midcap and smallcap stocks put pressure on market Breadth. READ MORE

8:24 AM

Stock Market LIVE Updates: Stock Market Today - Nifty expiry, Israel conflict & Kalana Ispat IPO debut

Stock Market LIVE Updates: Indian equity benchmark indices, NSE Nifty50 and BSE Sensex, may start on a positive note today after hitting fresh record highs on September 25.

The uptrend was signalled by GIFT Nifty futures that were trading about 50 points higher than Nifty futures' last close, at 26,047.50, around 7:30 AM. 

Further momentum could be derived from the record highs S&P 500 and Dow Jones hit overnight on Wall Street, before closing lower. READ MORE

 

8:22 AM

Stock Market LIVE Updates: Economists bullish on India, cautious optimism for global recovery: Survey

Stock Market LIVE Updates: A majority of chief economists have shown a cautious optimism about the global economy with India's robust performance making South Asia the best performer worldwide, a survey showed on Wednesday.

"Easing inflation and strong global commerce are fuelling cautious optimism for recovery but elevated debt levels are becoming a growing concern in both advanced and developing economies," the World Economic Forum said in its latest Chief Economists Outlook. READ MORE

8:17 AM

Stock Market LIVE Updates: Crude prices steady

Stock Market LIVE Updates: Oil prices were little changed on Thursday after falling in the previous session as signs of higher fuel demand and falling stockpiles in the US offset concerns over demand elsewhere, particularly in China.

Brent crude futures were up 9 cents, or 0.12 per cent, to $73.55 a barrel, while US West Texas Intermediate crude rose 4 cents, or 0.06 per cent, to $69.73 per barrel as of 6:30 AM.

 

8:15 AM

Stock Market LIVE Updates: Asia-Pacific markets climb

Stock Market LIVE Updates: Asia-Pacific markets gained on Thursday morning, with mainland China's Sanghai index up 0.98 per cent.

Hong Kong's Hang Seng index was trading 1.72 per cent higher at 19,452, while Japan's Nikkei 225 was 2.41 per cent higher. 

South Korea’s Kospi was up 1.99 per cent, and Australia’s S&P/ASX 200 gained 0.82 per cent.

 

8:09 AM

Stock Market LIVE Updates: US markets lower after touching record levels

Stock Market LIVE Updates: On Wall Street, the Dow and S&P 500 ended lower after hitting record highs in early trades, while Nasdaq was flat at close.

The Dow Jones Industrial Average fell 0.70 per cent, to 41,914.75, the S&P 500 dragged 0.19 per cent, to 5,722.26 and the Nasdaq Composite rose marginally by 0.04 per cent, to 18,082.21.

 

8:05 AM

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