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Stock Market Live Updates November 8, 2024: Markets open flat after Fed cuts interest rate by 25 basis points (08-11-2024)
Sensex, Nifty, Share Prices LIVE: Sensex opened at 79,611.90, up from its previous close of 79,541.79, and is currently at 79,577.86, reflecting a slight increase of 36.07 points or 0.05 per cent. Meanwhile, the Nifty opened at 24,207.70, above its previous close of 24,199.35, and is trading at 24,214.70, up by 15.35 points or 0.06 per cent as of 9.45 am.
The Federal Reserve on Thursday cut its benchmark interest rate by 25 basis points to a range of 4.5 per cent-4.75 per cent, marking its second reduction, following September’s half-point cut. The Bank of England also reduced rates by a quarter point, only its second cut since 2020.
“Two divergent trends are evident in the market now: one, strength in the global market led by the US and two, weakness in the Indian market. The record setting uptrend in the US market is being driven now by the ‘Trump trade’, expectations of implementation of the promised corporate tax cuts and its positive impact on US corporate earnings,” said Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services.
Can Trump remove Fed Chair Powell? Here’s what the law says (08-11-2024)
Trump will have future opportunities to appoint or replace at least one Fed governor and possibly impact other key leadership roles, but the central bank’s independence remains a core principle
Fed cuts rates; Powell declares he won’t resign if Trump asks (07-11-2024)
The Federal Open Market Committee, acknowledging the uncertain economic outlook, unanimously cut the federal funds rate to a range of 4.5% to 4.75%.
Revisiting SEBI Chairperson selection: M Damodaran advocates for enhanced autonomy (07-11-2024)
Damodaran emphasises the importance of accountability, suggesting that the SEBI chairperson report to Parliament biannually
This time for Africa: Asian tea producers to explore possibilities to create market opportunities in Africa (07-11-2024)
Asia Tea Alliance plans to expand tea market in Africa to increase global consumption, focusing on sustainability and quality
Broker’s call: Saregama (Buy) (07-11-2024)
Emkay Global
SEBI to consider demerger of equity exchanges, clearing corporations (07-11-2024)
Aims for diversified ownership, enhanced supervision, and independence
SEBI plans to ease skin in the game norms for MFs (07-11-2024)
SEBI has proposed to reduce the mandatory investment percentage by applying it based on salary brackets, and excluding non-cash components
Storage in key reservoirs down a tad this week (07-11-2024)
Level at 86% of total capacity; number of States with below-normal storage down to 3