The Indian rupee strengthened by 10 paise to hit a two-month high level of 83.66 against the US dollar on Thursday after the US Federal Reserve cut the benchmark interest rate by 0.50 per cent, boosting investors’ sentiment. The economic projections provided by Fed officials at the meeting suggested the central bank will cut rates by another 50 basis points by the end of the year. Fed officials also expect to continue lowering rates next year, with the projections indicating rates will be lower by another full percentage point by the end of 2025. Massive buying in domestic equities and inflow of foreign funds also supported the local unit. Indian shares rose on Thursday, but key benchmark indexes ended off their day’s highs amid signs of escalating tensions in the Middle East. The benchmark 30-share BSE Sensex hit a new record high of 83,773.61 in intraday trade before finishing up by 236.57 points, or 0.29 percent, at 83,184.80. Likewise, the broader Nifty index hit a fresh record ..
Posts in category Business Standard
Australian markets hit new high (19-09-2024)
The benchmark S&P/ASX 200 gained 0.61 percent to close at 8,191.90 while the broader All Ordinaries index edged up 0.63 percent to 8,417.
Japanese markets record strong gains (19-09-2024)
The dollar bounced back and long-dated bond yields rose while gold hovered near a record high. Oil prices rebounded despite lingering concerns over global demand.
Japanese markets see strong gains (19-09-2024)
The central bank is expected to stand pat on rates, with attention likely to remain focused on Governor Ueda’s remarks.
Motisons Jewellers board OKs 1:10 stock split proposal (19-09-2024)
Motisons Jewellers said that its board had approved a proposal to split one equity share of the company having face value of Rs 10 each into ten equity shares with a face value of Re 1 each.
Nifty September futures trade at premium (19-09-2024)
NSE India VIX tumbled 6.74% to 12.47.
Power Grid bags transmission project in MP (19-09-2024)
Power Grid Corporation of India announced that it has been declared as a successful bidder under tariff based competitive bidding (TBCB) to establish inter-state transmission system in Madhya Pradesh (MP).
Sebi amends rules to streamline public issuance of debt securities (19-09-2024)
Markets regulator Sebi has amended rules to streamline the process for public issuance of debt securities aimed at providing faster access to funds for such issuers.
Under the amended rules, Sebi has reduced the period for seeking public comments on the draft offer documents from 7 working days to 1 day for issuers whose specified securities are already listed and 5 days for other issuers.
“The issuers whose specified securities are listed on a recognised stock exchange having nationwide trading terminals shall post the draft offer document filed with stock exchange(s) for one day immediately after the date of filing the draft offer document with stock exchange(s),” the regulator said in a notification.
Also, the minimum subscription period has been cut from 3 to 2 working days. Further, in case of revision in the price band or yield, the bidding period disclosed in the offer documents, can be extended by one working day instead of three working days.
The new rules are aimed at …
PN Gadgil loses luster after solid debut; stock down 17% from record high (19-09-2024)
PN Gadgil Jewellers shares extended losses for thirds straight session after a stellar D-Street debut
US Fed rate cut unlikely to impact foreign inflows to India: DEA secretary (19-09-2024)
The US Federal Open Market Committee on Wednesday reduced the lending rate to 4.75-5.00 per cent from 5.25-5.50 per cent, a larger than expected cut