Stock Market LIVE Updates: Sensex 950 pts lower at 79,200; Nifty at 23,950; IT, Metal, Bank fall 1%

Markets Today LIVE: Benchmark Indian equity indices BSE Sensex and Nifty 50 were trading significantly lower on Thursday, tracking the decline on Wall Street following the US Fed's hawkish commentary

11:12 AM

Stock Market LIVE Updates: Medi Assist gets nod for merger of Medi Assist Insurance & Raksha Health Insurance

Stock Market LIVE Updates: Medi Assist Healthcare Services today informed that it has recieved a confirmation order from the Regional Director, South East Region - Hyderabad, for the scheme of amalgamation between its wholly-owned subsidiary Medi Assist Insurance TPA Pvt Ltd (MAITPA), and Raksha Health Insurance TPA Pvt Ltd (step-down wholly owned subsidiary).

The company, in an exchange filing, said, "We hereby inform you that Regional Director, South East Region - Hyderabad has issued confirmation order of scheme of amalgamation between Medi Assist Insurance TPA Private Limited and Raksha Health Insurance TPA Private Limited, received by MAITPA & Raksha TPA on December 18, 2024".
 

The company added, that Raksha TPA shall be merged with its Holding Company, i.e., MAITPA and the merger shall be effective from the date of filing of relevant form(s) with the RoC. 

11:03 AM

Stock Market LIVE Updates: 11 AM market update - Sensex, Nifty maintain lower levels

Stock Market LIVE Updates: Benchmark Indian equity indices BSE Sensex and Nifty 50 were trading lower on Thursday, tracking the decline on Wall Street following the US Fed's hawkish commentary.

At 11 AM, the BSE Sensex was 952.64 points, or 1.19 per cent lower at 79,229.56, and the Nifty 50 was at 23,944.55, down 254.30 points, or 1.05 per cent.

 

10:57 AM

Stock Market LIVE Updates: 'Powell's hawkish rhetoric could lead to tighter financial conditions globally'

Stock Market LIVE Updates: "The US Federal Reserve's recent 0.25 per cent interest rate cut, accompanied by their indication of a more measured pace of future reductions, has triggered a wave of uncertainty across financial markets.

Investors, spooked by the prospect of prolonged higher borrowing costs and its implications on economic growth, have reacted with a sharp sell-off. 

The Dollar Index, which measures the strength of the US dollar against a basket of major currencies, surged to a two-year high, reflecting the market's reaction to the Fed's stance. This stronger dollar, combined with Powell's hawkish rhetoric, suggests that the Fed is prioritising inflation control over economic growth, which could lead to tighter financial conditions globally. The 2025 forecast for inflation was raised from 2.1 per cent to 2.5 per cent, and the core inflation estimate for the same year was raised to 2.8 per cent.
 

In addition to the Hawkish tone and the rate cut, the Federal Reserve also upgraded its GDP forecast for 2024 to 2.5 per cent, an increase from the previous 2 per cent projection. Looking ahead, the Fed has indicated that future rate cuts may be fewer than previously anticipated. The updated economic projections suggest only two additional quarter-point cuts in 2025, a significant reduction from earlier forecasts that anticipated four cuts.

Views by: Palka Arora Chopra, Director, Master Capital Services Ltd

 

10:49 AM

Stock Market LIVE Updates: Nifty IT index slips over 2%; Infosys, LTIMindtree, LTTS down up to 5%

Stock Market LIVE Updates: Information technology (IT) shares were under pressure, with the Nifty IT index slipping over 2 per cent on the National Stock Exchange (NSE) in Thursday’s intra-day trade after the US Federal Reserve cut its key interest rate by 0.25 per cent, while signaling a slower pace of rate cuts moving forward.

 

The Nifty IT index was down 2.4 per cent at 44,434.10 in intra-day deals. At 09:39 AM, the IT index had erased its partial losses and was down 1.3 per cent, as compared to the 1.08 per cent decline on the Nifty 50. READ MORE

 

 

10:36 AM

Stock Market LIVE Updates: Transrail Lighting IPO opens today, Dec 19; Should you bid or avoid?

Stock Market LIVE Updates: The initial public offering (IPO) of Transrail Lighting opens for public subscription today, December 19, 2024. At the upper end of the price band, the company seeks to raise Rs Rs 838.91 crore through the offering, which comprises a fresh issue of 9.3 million shares aggregating to Rs 400 crore and an offer for sale of 10.1 million shares aggregating to Rs 438.91 crore. The company announced that it raised Rs 245.97 crore from anchor investors in the bidding concluded on December 18, 2024. READ MORE

 

10:31 AM

Stock Market LIVE Updates: 'Bond yields cooling should be bullish for emerging markets like India'

Stock Market LIVE Updates: US Fed Walks the Talk - "It wasn't a surprise when the US Fed cut interest rates by 25 basis points (bps) to 4.75 per cent. The Fed had given enough clues and the market too had anticipated these rate cuts. However, what was surprising was how the US 10-year bond yields moved over the last one and half month which has been rising relentlessly from 3.6 per cent to almost 4.5 per cent despite the 50 bps cut in the last Fed meeting. It seems that the market is anticipating slower rate cuts going ahead and maybe there are even chances of inflation rising. Although the Fed chief is hopeful of taming inflation back to the 2 per cent target soon, thus not warranting a restrictive policy. The bond yields have cooled off and slipped below the 4.335 per cent mark. This should be bullish for emerging markets like India.

Views By: Apurva Sheth, Head of Market Perspectives and Research, SAMCO Securities

 

10:27 AM

Stock Market LIVE Updates: Sanathan Textiles IPO opens today: Analysts weigh in on long-term prospects

Stock Market LIVE Updates: Sanathan Textiles initial public offering (IPO) opens for subscription today, December 19, 2024. The IPO aims to raise Rs 54.58 crore 550 crore, comprising a fresh issue and an offer for sale.  The fresh issue includes 1.25 crore shares amounting to Rs 400 crore, while the offer for sale involves 0.47 crore shares aggregating Rs 150 crore. 

 

Sanathan Textiles raised Rs 165 crore from anchor investors on Wednesday, December 18 with key anchors including SBI Magnum Children’s Benefit Fund, Nippon India SmallCap Fund, HDFC Manufacturing Fund and Kotak Manufacture In India Fund. READ MORE

 

 

10:18 AM

Stock Market LIVE Updates: Concord Enviro IPO opens today; Check GMP, price band: Should you bid?

Stock Market LIVE Updates: Concord Enviro Systems Limited IPO (Concord Enviro IPO) opens for subscription today, December 19, 2024. 

The Concord Enviro IPO is a book-built issue, with a total size of Rs 500.33 crore. Concord Enviro IPO is structured as a combination of a fresh issue and an offer for sale (OFS). The fresh issue consists of 0.25 crore shares, which will raise Rs 175 crore, while the OFS involves 0.46 crore shares, amounting to Rs 325.33 crore. READ MORE

 

10:10 AM

Stock Market LIVE Updates: Inventurus Knowledge Solutions shares listing at 43% premium on bourses

Stock Market LIVE Updates: Shares of Inventurus Knowledge Solutions made a strong D-Street debut on Thursday, December 19, 2024, in an otherwise weak market. Inventurus Knowledge Solutions shares listed at Rs 1856 apiece on the BSE, reflecting a premium of 39.65 per cent over the IPO allotment price of Rs 1329.

 

On the National Stock Exchange (NSE), Inventurus Knowledge Solutions shares listed at Rs 1,900, reflecting a slightly higher premium of 42.96 per cent per share against the issue price. READ MORE

 

 

10:07 AM

Stock Market LIVE Updates: Mamata Machinery IPO opens today: GMP up 82%; Should you subscribe?

Stock Market LIVE Updates: he initial public offering (IPO) of manufacturing solutions provider Mamata Machinery is set to open for public subscription today, Thursday, December 19, 2024. At the upper end, the company seeks to raise Rs 179.39 crore from the public offering. The Mamata Machinery IPO comprises an entire offer for sale, with promoters offloading up to 73,82,340 equity shares with a face value of Rs 10 apiece.

 

Mamata Machinery has announced that it has already raised Rs 53.56 crore from anchor investors in a bidding concluded on December 18, 2024. READ MORE

 

10:03 AM

Stock Market LIVE Updates: 10 AM market update - Sensex, Nifty trade lower

Stock Market LIVE Updates: Benchmark Indian equity indices BSE Sensex and Nifty 50 were trading lower on Thursday, tracking the decline on Wall Street following the US Fed's hawkish commentary.

At 10 AM, the BSE Sensex was 804.72 points, or 1 per cent lower at 79,377.48, and the Nifty 50 was at 23,956.30, down 242.55 points, or 1 per cent.

9:51 AM

Stock Market LIVE Updates: Sensex sinks 1,150pts, Nifty dips below 23,900: What's behind market crash?

Stock Market LIVE Updates: The key benchmarks – Sensex, Nifty faced another bear attack on Thursday, with the BSE Sensex crashing 930 points or 1.44 per cent to its intraday low of 80,818, while the NSE’s Nifty50 plunging 328 points or 1.35 per cent at 23,870 in intraday trade.

 

The drop in the Indian stock market came amid a similar downturn in the US as well Asian markets after the US Federal Reserve delivered its third consecutive rate cut but signaled a slowdown in future reductions, leaving investors jittery. READ MORE

 

 

9:42 AM

Stock Market LIVE Updates: Robert Sockin of Citi on US Fed's actions

Stock Market LIVE Updates: Robert Sockin of Citi, says we're looking for rates to continue to move down in India and other emerging markets.

This is a global central bank rate cutting cycle, with a few exceptions.

The key to focus on is that with a few more Fed rate cuts to come, there's a potential to stay higher for longer depending on economic growth, and inflation.

And if the Fed stays higher for longer, it is going to be challenging for all the other central banks to ease policy as much as we expect in our base case. 

Right now, we've rate cuts broadly coming in most major regions, but the extent depends on domestic factors, apart from how much they are able and willing to deviate from the Fed.

In the past, we've seen, if the Fed stays high for longer, other central banks tend to rething the extent to which they're able to cut rates.

9:33 AM

Stock Market LIVE Updates: Robert Sockin of Citi on US Fed's actions

Stock Market LIVE Updates: Robert Sockin of Citi, says we've a very positive backdrop in the US; earnings growth is continued to be very strong throughout the cycle. Our equity strategiest's base case is that you'll get a significant leg-up from here to somewhere in the mid-6,000 range. 

The backdrop from equities is positive, but the potential risks from Trump 2.0 on the tariff front not only tend to have negative effects on the economy, but also on specific companies.

9:32 AM

Stock Market LIVE Updates: Gold, Silver slide up to 2% on MCX

Stock Market LIVE Updates: Gold trades below Rs 79,000/10 gm, Silver at Rs 88,300 per 1 kg