Wall Street traders are optimistic about the Federal Reserve’s ability to achieve a soft landing, leading to a rally in riskier markets. The S&P 500 hit its 39th record high in 2024, with tech stocks leading gains. The Fed’s recent rate cut has bolstered hopes of avoiding a recession.
Posts in category Economic Times
Fed rate cut positive, but may not have big impact on capital inflows: Top FinMin officials (19-09-2024)
Economic affairs secretary Ajay Seth sought to delink the Fed rate cut from any potential action by the Reserve Bank of India (RBI). The Fed has done what it feels to be the best for the US economy and the RBI will be guided more by the domestic reality, Seth said. Separately, chief economic adviser V Anantha Nageswaran said at an event that much of the Fed action was factored in by investors and its impact on India could be more muted than on other emerging economies, as the domestic market has already been generating a lot of investor interest.
Radhakishan Damani sells 1 lakh shares in VST Industries for Rs 4.4 crore via block deal (19-09-2024)
Ace investor Radhakishan Damani has sold 1 lakh shares in VST Industries for Rs 4.4 crore via a block deal. The shares were sold at Rs 439.05 each, slightly above the previous closing price. Following this sale, Damani’s stake in VST Industries has reduced to 2.82% from 3.47%.
Reliance Infra approves Rs 3,000 crore capital raising via preferential issue (19-09-2024)
The company said the proceeds from the preferential issue will be used for expanding business operations, including investments in subsidiaries and joint ventures, and to meet long-term working capital requirements as well as general corporate purposes
L&T, 6 others pick 8.03% stake in Cube Highways Trust for Rs 1,243 crore (19-09-2024)
The company had clocked a loss of Rs 20 crore in the year-ago period. Its total income rose to Rs 830.9 crore from Rs 781.6 crore, while expenses stood at Rs 823 crore, as against Rs 799.5 crore.
Expanding network, strong balance sheet augur well for Karur Vysya Bank (19-09-2024)
Karur Vysya Bank (KVB) stock has outperformed BSE Bankex despite sector pressures. KVB has strong retail and commercial loan growth, low loan-deposit ratio, and high liquidity coverage ratio. Analysts have raised one-year price targets by over 8%.
Ahead of Market: 10 things that will decide stock action on Friday (19-09-2024)
Indian indices hit record highs on Thursday, following the US Fed’s rate cut. Analysts expect Nifty to consolidate in the 25,200-25,550 range unless it decisively breaks above 25,550. Support is at 25,350 and 25,175-200.
Reliance Infrastructure seeks shareholders’ nod to raise Rs 3,000 crore via QIP (19-09-2024)
Reliance Infrastructure approved raising Rs 3,014 crore through a preferential issue to promoter group companies and other investors. The company also seeks shareholder approval for a QIP of up to Rs 3,000 crore.
Market Trading Guide: Century Textiles, Jubilant Foodworks among 5 stock recommendations for Friday (19-09-2024)
Equity indices hit record highs following the Fed’s larger-than-expected 50 basis point interest rate cut and indications of possible further reductions. The significant rate cut raised concerns about a global slowdown, leading to profit-taking in mid and small-cap stocks that are trading at premium valuations.