U.S. stocks ended on a mixed note on Monday as investors looked ahead to the Federal Reserve’s monetary policy announcement later this week, and stayed largely cautious and selective with regard to their moves. Among the major averages, the Dow hit a new record high and ended up 228.30 points or 0.55 percent at 41,622.08, and the Nasdaq closed lower by 91.85 points or 0.52 percent at 17,592.13, while the S&P 500 settled at 5,633.09 with a small gain of 7.07 points or 0.13 percent. The Fed is widely expected to lower interest rates, but there remains some debate about the size of the rate cut.

Finance Minister Nirmala Sitharaman will launch the NPS Vatsalya scheme on Wednesday in line with the announcement made in the Union Budget 2024-25. NPS Vatsalya will allow parents to save for their childrens future by investing in a pension account and ensure long-term wealth with the power of compounding. NPS Vatsalya offers flexible contributions and investment options, allowing parents to make investment of Rs. 1,000 annually in the name of the child, thus making it accessible to families from all economic backgrounds. This new initiative is designed to start early in securing financial future of children, marking an important step in Indias pension system. The Scheme will be run under the Pension Fund Regulatory and Development Authority (PFRDA). The launch of NPS Vatsalya highlights the Government of India’s commitment to promote long-term financial planning and security for all. Its a big step toward making Indias future generations more financially secure and independent. The

At 10:30 ST, the barometer index, the S&P BSE Sensex was down 47.44 points or 0.06% to 82,941.34. The Nifty 50 index shed 4.10 points or 0.02% to 25,379.65.

Carborundum Universal (CUMI) rallied 4.03% to Rs 1530.75 after the company entered into share purchase agreement (SPA) to acquire 100% stake in Silicon Carbide Products (SCP), Inc. USA for total consideration of Rs 56 crore.