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
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Stock Market Highlights, Thursday, September 19, 2024: The BSE Sensex added 236.57 points or 0.29 per cent to settle at 83,184.80. The index scaled a record high of 83,773.61 during intraday trade.
Mirroring the Sensex, Nifty50 touched an all-time high of 25,611.95 before ending Thursday's session with a gain of 38.25 points or 0.15 per cent at 25,415.80.
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, Nestle India, Kotak Mahindra Bank, and Tata Consumer Products, with gains of up to 2.38 per cent on Thursday.
Similarly, on the BSE, 17 out of 30 constituent stocks of the Sensex ended in positive territory, led by NTPC, Nestle India, Titan, Kotak Mahindra Bank, Maruti Suzuki India, and Hindustan Unilever, with gains of up to 2.45 per cent.
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, Nestle India, Kotak Mahindra Bank, and Tata Consumer Products, with gains of up to 2.38 per cent on Thursday.
Similarly, on the BSE, 17 out of 30 constituent stocks of the Sensex ended in positive territory, led by NTPC, Nestle India, Titan, Kotak Mahindra Bank, Maruti Suzuki India, and Hindustan Unilever, with gains of up to 2.45 per cent.
Border market indices settled lower, with smallcap shares taking the biggest hit. The Nifty Smallcap 100 index declined 1.26 per cent on Thursday. Meanwhile, the Nifty Midcap 100 index recovered 1.08 per cent from its day's low but ended 0.67 per cent lower.
Bank Nifty advanced for the sixth consecutive session, led by AU Bank and Kotak Bank. Nifty FMCG was the top sectoral gainer, ending 0.60 per cent higher, led by UBL and Balrampur Chini Mills.
Nifty Realty advanced 0.5 per cent to its 1-month high, led by Phoenix and Oberoi Realty. Meanwhile, Media, PSU Bank, Metal Pharma, IT, and OMCs indices settled lower among the sectors.
4:13 PM![]()
Stock Market Tech View: Key levels to watch on Sensex, Nifty
After a gap up open, market consistently facing selling pressure at higher levels.
We are of the view that the larger texture of the market is still in to the positive side but fresh uptrend rally possible only after dismissal of 25,500 on Nifty and 83,500 on Sensex.
Above 25,500/83,500, the indices could retest the level of 25,600/83,770.
Further upside may also continue which could lift the indices till 25,675/84,000. On the other side, below 25,500/83,500, it could slip till 25,300-25,285/82,900-82,700.
Views by: Shrikant Chouhan, Head of Equity Research, Kotak Securities
We are of the view that the larger texture of the market is still in to the positive side but fresh uptrend rally possible only after dismissal of 25,500 on Nifty and 83,500 on Sensex.
Above 25,500/83,500, the indices could retest the level of 25,600/83,770.
Further upside may also continue which could lift the indices till 25,675/84,000. On the other side, below 25,500/83,500, it could slip till 25,300-25,285/82,900-82,700.
Views by: Shrikant Chouhan, Head of Equity Research, Kotak Securities
3:52 PM![]()
Stock Market Comment: Why Mid, SmallCaps fell on Thursday?
The benchmark indices concluded with a minor gain after hitting record highs post the US FED's more than expected interest rates cut of 50 bps and hinted for further reduction.
The substantial rate cut sparked concerns over global slowdown, resulting in profit booking in mid & small cap trading at premium valuation. Meanwhile, domestic heavyweight sectors like banking and FMCG saw buying interest, driven by foreign inflows and the RBI's monetary easing expected in October.
Views by: Vinod Nair, Head of Research, Geojit Financial Services
The substantial rate cut sparked concerns over global slowdown, resulting in profit booking in mid & small cap trading at premium valuation. Meanwhile, domestic heavyweight sectors like banking and FMCG saw buying interest, driven by foreign inflows and the RBI's monetary easing expected in October.
Views by: Vinod Nair, Head of Research, Geojit Financial Services
3:50 PM
Bond Market Updates: 10-year yield on Govt securities harden over 1%
>> Yields on 10-year G-sec rose 1.3% after the US Fed cut rates by 50 bps
>> 10-year yield end at 6.868% on Thursday
>> 10-year yield end at 6.868% on Thursday
3:48 PM
Rupee Closing: Rupee gains 7 paise vs US Dollar
>> Rupee ends at 83.68 per US dollar
3:45 PM
Stock Market Closing Bell LIVE Updates: SmallCap index slips 1% after Fed's rate cut
>> BSE MidCap index falls 0.5%, SmallCap 1%
>> The indices slipped up to 2% intraday
>> The indices slipped up to 2% intraday
3:43 PM![]()
Stock Market Closing Bell LIVE Updates: IT stocks reverse gains, Metals, PSBs other laggards
>> Nifty PSU Banks, and Metal indices lost 0.6% each on Thursday
>> Nifty IT, which gained 4% intraday, ended 0.3% lower
>> Nifty Pvt Bank, on the flipside, hit record high
>> Nifty IT, which gained 4% intraday, ended 0.3% lower
>> Nifty Pvt Bank, on the flipside, hit record high
3:40 PM
Stock Market Closing Bell LIVE Updates: Winners outpace losers on Sensex today
>> NTPC, Nestle India, Titan Company, Kotak Bank, Maruti Suzuki, and HUL were top Sensex gainers today
>> HCL Tech, TCS, Adani Ports, L&T, JSW Steel, and SBI were top Sensex losers today
>> HCL Tech, TCS, Adani Ports, L&T, JSW Steel, and SBI were top Sensex losers today
3:38 PM
Stock Market Closing Bell LIVE Updates: Nifty holds 25,400 amid Fed's 'dovish' rate cut
>> NSE Nifty50 closes at 25,415.80, up 38.25 points or 0.15% today
>> NSE Nifty50 hit a record high of 25,611.95 intraday
>> NSE Nifty50 hit a record high of 25,611.95 intraday
3:36 PM
Stock Market Closing Bell LIVE Updates: Sensex ends at fresh closing high as Fed delivers jumbo cut
>> BSE Sensex ends at 83,184.8, up 236.57 points or 0.29%
>> BSE Sensex touched an all-time high of 83,773.61 intraday after US Fed cut rates by 50 bps
>> BSE Sensex touched an all-time high of 83,773.61 intraday after US Fed cut rates by 50 bps
3:14 PM
The company, in an exchange filing, said "This is to inform you that the Hon’ble Supreme Court vide its judgment dated August 30, 2024, published on website today (i.e. 19 September 2024) has dismissed the curative petition filed by the Company and other telecom operators, in the AGR matter."![]()
Stock Market LIVE Updates: Vodafone Idea confirms SC dismissed cuurative petition regarding AGR dues
Stock Market LIVE Updates: Vodafone Idea clarified today that the curative petition it had filed with the Supreme Courth to re-compute AGR dues has been dismissed.
The company, in an exchange filing, said "This is to inform you that the Hon’ble Supreme Court vide its judgment dated August 30, 2024, published on website today (i.e. 19 September 2024) has dismissed the curative petition filed by the Company and other telecom operators, in the AGR matter."
3:01 PM
At 3 PM, the BSE Sensex was at 83,183, up 235 points, or 0.28 per cent, while the Nifty 50 was at 25,418, up 40 points, or 0.16 per cent.![]()
Stock Market LIVE Updates: 3 PM market update
Stock Market LIVE Updates: Indian benchmark indices BSE Sensex and Nifty 50, off from the record levels they hit at open, were steady even as they were dragged down by a fall in Oil and Gas, Metal and PSB stocks, among others.
At 3 PM, the BSE Sensex was at 83,183, up 235 points, or 0.28 per cent, while the Nifty 50 was at 25,418, up 40 points, or 0.16 per cent.
2:56 PM![]()
Stock Market LIVE Updates: MTNL shares drop 5% after PNB downgrades co's loan account to NPA
Stock Market LIVE Updates: Shares of state-owned telecommunications service provider Mahanagar Telephone Nigam (MTNL) fell 4.65 per cent to Rs 52.41 during intra-day deals on Thursday.
The fall in the stock price follows MTNL's announcement to the exchanges, in which it said that Punjab National Bank (PNB) has downgraded the loan accounts of the company to NPA on September 9, 2024, due to non-payment of interest and installment. READ MORE
The fall in the stock price follows MTNL's announcement to the exchanges, in which it said that Punjab National Bank (PNB) has downgraded the loan accounts of the company to NPA on September 9, 2024, due to non-payment of interest and installment. READ MORE
2:52 PM
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Stock Market LIVE Updates: Neogen Chemicals up 13% on favourable demand outlook; zooms 46% in 2 weeks
Stock Market LIVE Updates: Neogen Chemicals shares hit a new high of Rs 2,140, as it rallied 13 per cent on the BSE in Thursday’s intra-day trade on favourable demand outlook.
The stock of the specialty chemicals maker is trading higher for the sixth straight day, surging 40 per cent during the period. In the past two weeks, the stock has zoomed 46 per cent. READ MORE
2:39 PM
Analysts link the index's decline to a major drop in Vodafone Idea's stock price after the Supreme Court rejected telecom companies' plea to re-evaluate adjusted gross revenues (AGR), while also affirming the government's existing AGR demands. READ MORE![]()
Stock Market LIVE Updates: Nifty PSU Bank declines 2% amid Vodafone Idea's AGR concerns
Stock Market LIVE Updates: The Nifty PSU Bank index, which monitors the performance of public sector banks, fell by as much as 1.80 per cent, hitting an intraday low of 6,556.25 on Thursday, September 19, 2024.
Analysts link the index's decline to a major drop in Vodafone Idea's stock price after the Supreme Court rejected telecom companies' plea to re-evaluate adjusted gross revenues (AGR), while also affirming the government's existing AGR demands. READ MORE
2:28 PM
Neeraj Chadawar, Head of Fundamental and Quantitative Research at Axis Securities reckons the next 3-5 trading sessions remain critical in the global market, as investors will monitor any further signals of carry trade unwinding with this 50 bps rate cut move. READ MORE![]()
Stock Market LIVE Updates: Mid, SmallCap indices bleed; US Fed's rate cut to blame? Analysts weigh
Stock Market LIVE Updates: Broader market indices-- Nifty MidCap 100 and Smallcap 100-- plunged over 1 per cent and nearly 2 per cent respectively in the afternoon deals. The fall comes after the US Federal Reserve cut 50 basis points (bps) interest rate in a meeting that happened late evening on Wednesday.
Neeraj Chadawar, Head of Fundamental and Quantitative Research at Axis Securities reckons the next 3-5 trading sessions remain critical in the global market, as investors will monitor any further signals of carry trade unwinding with this 50 bps rate cut move. READ MORE
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First Published: Sep 19 2024 | 7:49 AM IST
