Nifty reached a new all-time high for the sixth consecutive session, driven by positive global cues and strong domestic flows. Analysts expect continued upward movement with potential volatility due to monthly derivative expiry. Global markets showed mixed trends, while oil prices remained stable. The rupee appreciated against the US dollar.
Posts in category Economic Times
Sensex at 85K, Nifty at 26K: Analysts expect some correction from higher levels (26-09-2024)
Indian equity indices hit all-time highs with Sensex closing above 85,000 and Nifty above 26,000. Analysts caution about potential short-term hurdles but do not foresee a sharp sell-off. Broader market indices ended weak. Foreign portfolio investors net sold shares, while domestic counterparts bought significantly.
Promoters cash in on market rally, offload stocks worth Rs 40,000 crore in Q2 (26-09-2024)
Promoters of around 180 companies have sold stock worth over ₹40,000 crore in the September quarter, capitalizing on the market rally. This trend is driven by high valuations and various strategic reasons. Prominent sales include those by InterGlobe Aviation, Ambuja Cements, and Patanjali Foods.
Gold hovers near record high as Fed’s Powell grabs limelight (26-09-2024)
Gold prices remained steady on Thursday after reaching a record high the previous day, driven by expectations of another significant rate cut by the U.S. Federal Reserve. Investors are keenly awaiting comments from Federal Reserve Chair Jerome Powell for further policy insights. Meanwhile, geopolitical tensions and economic data continue to influence market dynamics.
Oil prices little changed as US stockpile drop offsets global demand woes (26-09-2024)
Oil prices remained stable on Thursday after a previous decline, as increased fuel demand and reduced stockpiles in the U.S. balanced concerns over global demand, especially in China. Brent crude rose to $73.55 per barrel, while U.S. West Texas Intermediate reached $69.73 per barrel, following China’s stimulus measures and easing supply disruptions in Libya.
S&P 500, Dow close lower as investors await insights on Fed rates, data (26-09-2024)
The Dow Jones and S&P 500 closed lower on Wednesday, retreating from record highs influenced by China’s stimulus package. Investors are now awaiting economic indicators and potential interest rate cuts. The Dow fell 293.47 points, while the S&P 500 lost 10.67 points. Nine out of eleven S&P sectors declined, with energy stocks leading the fall.
Stocks in news: SpiceJet, Puravankara, ASK Automotive, Adani Green, Vedanta (26-09-2024)
Markets saw a volatile session on Wednesday but continued their upward trend. Key stocks in focus include SpiceJet, Puravankara, ASK Automotive, Adani Green, and Vedanta due to various developments. Notable actions include Societe Generale selling shares in SpiceJet and Puravankara acquiring land in Bengaluru.
Asian equities rally as soft Yen supports Japan: Markets wrap (26-09-2024)
Asian equities rose as a weaker yen and Beijing’s stimulus measures bolstered Japan and South Korea’s stock markets. Hong Kong futures also advanced, despite a dip in US-listed Chinese companies. The rally follows a week of gains, with investors eyeing further fiscal measures from China amid economic data releases across the region.