Stock Market LIVE Updates: Sensex, Nifty 50 set to open lower, HDFC Bank, Vedanta, SJVN in focus
Stock Market LIVE Updates: The weekly options expiry session for the Nifty 50 is here and the last two days have been anything but memorable for the index. Wednesday's drop left investors poorer by Rs 2.9 lakh crore and the 50 percent of the contribution towards Nifty 50's worst day in two months came from HDFC Bank. GIFT Nifty is indicating a lower start from the Indian benchmark indices Nifty 50 and Sensex.
Live Updates
Stock Market LIVE Updates | Biocon Is In Focus Today
In a significant milestone, Biocon Biologics Ltd, a subsidiary of Biocon, on Wednesday announced the granting of marketing authorisation by the European Commission for YESAFILI, a biosimilar of aflibercept.
This decision by the EC follows the positive opinion conveyed by the European Medicines Agency's Committee for Medicinal Products for Human Use in July.
Stock Market LIVE Updates | Zydus Lifesciences Is In Focus
The Drug firm on Wednesday said it has achieved a significant milestone on getting final approval from the United States Food and Drug Administration for its clindamycin phosphate gel USP, 1.
Clindamycin phosphate gel USP, 1 percent serves as a crucial treatment for acne, playing a pivotal role in reducing the number of acne lesions.
Stock Market LIVE Updates | Apollo Tyres Is In Focus Today
The tyre manufacturer on Wednesday announced the temporary cessation of bias off-the-road (OTR) tyre production at its manufacturing facility located in Limda, Gujarat.
The decision was prompted by concerns raised among shop floor employees regarding the renewal of a long-term settlement agreement, according to a stock exchange filing.
Stock Market LIVE Updates | Cipla Is In Focus Today
The USFDA inspection at InvaGen manufacturing facility in Central Islip, Long Island, USA has resulted in a form 483 with five observations.
Stock Market LIVE Updates | Sheela Foam To Raise Up To Rs 1,200 Crore Through QIP For Kurlon Acquisition
Sheela Foam Ltd, the maker of popular mattress brand Sleepwell, is gearing up for a significant capital infusion by launching a Qualified Institutional Placement (QIP) to raise funds amounting to Rs 1,200 crore, sources in the know told CNBC-TV18.
Share Market Live
The QIP's base size has been set at Rs 1,000 crore, with an additional upsize option of Rs 200 crore, sources privy to the developments told CNBC-TV18.
The indicative issue price for the QIP is expected to fall within the range of Rs 1,078 to Rs 1,168.6 per share, presenting a potential discount of up to 7.8 percent when compared to the current market price (CMP), sources in the know told CNBC-TV18.
Editor's Take | Sonia Shenoy Shares Her VIews On The Market
Big focus area: IT stocks could be under pressure today
- Nasdaq down 209 points overnight, Dow Jones ended with mild losses
- US Fed signals higher rates for longer
- US Fed chair Jerome Powell says “we are prepared to raise rates further if appropriate”
- Both, foreign and domestic investors sell in cash markets
- Foreign institutional investors (FIIs) sell Rs 3,110 crore, domestic institutional investors (DIIs) sell Rs 573 crore in cash markets
- Two days of large FII selling
- FIIs sold Rs 14,000 crore in September, so far
- Nifty closed with a 231 point cut yesterday
- Gold prices rise after US Fed strikes a hawkish tone
Editor's Take | Nigel D'Souza Shares His View On The Market
Trade Set Up
Stock Market LIVE Updates | Here Is A Round Up Of What US Fed Chairman Jerome Powell Said
Editor's Take | Prashant Nair Shares His View On The Market
- September FOMC was more hawkish than expected
- While rates were unchanged, 2024 and 2025 dots moved +50 bps each
- Weak close overnight; Nasdaq -1.53 percent
- DXY rebounded from 104.6 to 105.36 over FOMC & Powell's press conference
- Yields popped higher; US 2y yield ended above 5.17 percent
- US 10 year yield +3 bps to 4.39 percent
- Nifty/Bank Nifty saw sharp cuts yesterday (over 1 percent)
- On the way down, Nifty support at 19,840; 38 percent retracement of recent advance (Aug-31 to Sept-15)
- On the way down, next Nifty support at 19,723; 50 percent retracement of the recent rise
- Nifty Resistance at the gap area between 20,050-20,115
- Bank Nifty closed near 45,363; 38 percent retracement of recent rise
- Supports for Bank Nifty at 45,070 & 44,778; 50 percent & 61.8 percent retracement of recent rise
- Resistance for Bank Nifty at gap area between 45,726-45,907
Stock Market LIVE Updates | Sensex, Nifty 50 Likely To Open Lower
Stock Market LIVE Updates | Vedanta Share Price: Board Meet On September 21 May Take A Big Decision
Shares of Vedanta will be in focus asthe company will be holding \a meeting of the committee of directors on Thursday, September 21.
The meeting will consider the proposal for issuance of Non-Convertible Debentures on a private placement basis.
Vedanta mentioned that this proposal is part of its routine refinancing that is undertaken in the ordinary course of business.
Stock Market LIVE Updates | Oil Prices Fall Ahead Of More Central Bank Steers On Interest Rates
Oil prices fell in early Asian trade on Thursday after falling by the most in a month in the previous session on US interest rate hike expectations, and ahead of a steer from other central banks on their rate outlooks.
Brent futures for November delivery fell 44 cents, or 0.5 percent, to $89.18 a barrel by 0010 GMT. US West Texas Intermediate crude (WTI) CLc1 fell 49 cents, or 0.6 percent, to $89.17.
Stock Market LIVE Updates | HDFC Bank Shares Have Their Worst Day In Four Months — Is There More Downside In Store?
Shares of HDFC Bank Ltd were the top losers on the Nifty 50 index on Wednesday and witnessed their worst single-day drop in four months. The stock ended nearly 4 percent lower, the worst in a single day since May this year.
The stock of India's largest private sector lender is contributing over 100 points to the Nifty 50's downside in Wednesday's trading session.
HDFC Bank shares fell after brokerage firm Nomura downgraded the stock to neutral from buy and also cut its price target to Rs 1,800 from Rs 1,970 earlier.
Stock Market LIVE Updates | Asia Stocks Face Headwinds From Wall Street Slide
Equity markets in Asia are likely to face selling pressure as worsening risk sentiment drove US stocks to session lows after the Federal Reserve signaled interest rates will be higher for longer.
Futures for benchmarks in Australia and Japan declined, while a gauge for US-listed Chinese stocks fell for a fourth straight session. Contracts on US benchmarks edged lower in early Asia trading after big tech led losses on Wall Street, with the Nasdaq 100 down 1.5 percent and the S&P 500 dropping almost 1 percent.
Stock Market LIVE Updates | Government To Sell Up To 4.92% Stake In SJVN Via Offer For Sale After Stock Surges 135% In 2023
The government plans on divesting up to 4.92 percent stake in hydroelectric power generator SJVN Ltd. via an Offer for Sale, an exchange filing stated.
The base offer will be to sell up to 9.66 crore shares or 2.46 percent of the total equity with a green shoe option to sell another 9.66 crore shares or 2.46 percent of the total equity.
Floor price of the OFS has been fixed at Rs 69 per share, which is a 15.6 percent discount to Wednesday's closing price.
Stock Market LIVE Updates | Trade Setup for September 21: Nifty 50 to see more pain on weekly options expiry day?
Geopolitical tensions, profit booking, higher crude prices and a resurgent US Dollar - a combination of all of these factors led to the Nifty 50 witnessing its worst single-day drop in two months. It closed below the 20,000 mark for the first time in five sessions.
Wednesday's drop left the investors poorer by Rs 2.9 lakh crore. Half of that drop came from HDFC Bank after the stock fell to a one-month low. We'll tell you more about that later in this piece. Reliance Industries was the other contributor to the downside.
Stock Market Live Update | How Have Asian Markets Opened This Morning?
Markets across the Asia Pacific have opened lower, taking forward the weak closing on Wall Street.
The Nikkei 225 is down 0.4 percent as the Bank of Japan begins its two-day policy meet, while the Topix is down 0.2 percent.
South Korea's Kospi is down 0.5 percent and the Kosdaq is trading 0.4 percent lower.
On the other hand, Hang Seng's futures are pointing to a strong opening for the index.
Stock Market Live Update | How Did Wall Street React To The Fed?
Not a very positive reaction at all. All three benchmark indices ended at the day's low post Jerome Powell's commentary.
The Dow Jones fell 80 points, while the S&P 500 and the Nasdaq fell 0.8 percent and 1.5 percent respectively.
Nasdaq's losses were led by Nvidia, Alphabet and Microsoft as tech stocks did not take the news of higher interest rates for long too well.
Stock Market Live Updates | One More Hike To Come, Says The US Federal Reserve
The most awaited event every two months is the FOMC meeting outcome. The hype this time around was no less. More than the Fed's interest rate decision, which was almost known, the focus was on what would Chair Jerome Powell say.
Last night, while interest rates were maintained where they are, Powell signaled another rate hike this year before the Fed starts cutting them next year. Which means there is a possibility that the interest rates are likely to remain higher for longer.
Good Morning to all the readers!
Welcome to CNBC-TV18's live markets blog where we bring to you all the live updates from the stock market and expert reactions on the road ahead.
Today's weekly options expiry session of the Nifty 50 contracts promises to be another one full of news and updates and we will bring them to you at the earliest.
Watch this space for more and have a wonderful trading day.
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