Market Savera - 19/09/2024

Stock Market Updates

U.S. stocks finished lower after choppy trading in the aftermath of the Federal Reserve's decision to lower its benchmark interest rate by half a percentage point, an aggressive start to a monetary-easing cycle in the world’s largest economy. A rally that briefly drove stocks to their all-time highs bumped into a wall as the Federal Reserve signalled it’s not in a rush to ease policy after cutting rates by a half-point. Jerome Powell cautioned against assuming big rate cuts would continue.

The Indian government's advance tax collection in this financial year surged 22.6% to Rs 4.36 lakh crore till Sept. 17, indicating a sustained momentum in the economy and strong corporate performance.

Lupin entered into a Non-Exclusive Patent Licensing agreement with Takeda to commercialize Vonoprazan, a Novel Gastro-Intestinal Drug

Garden Reach bags US$ 54 million order, Centre upgrades PSU to 'Schedule A' category

B L Kashyap received an order worth Rs 221 crore

Asian stocks mostly rose after the U.S. Federal Reserve began its easing cycle with a large rate cut, though it tinkered that with a balanced outlook as it seeks to keep the economy ticking over.

Nifty took a U-turn after hitting a new all-time high of 25482 in the first half of Sept 18. Nifty erased all the gains in the second half and closed the session with the loss of 41 points or 0.16% at 25377.

Nifty must surpass the hurdle of 25500 for the momentum to pick up. On the lower side, 25200 could offer support in the near term.

Indian markets could open mildly higher, in line with mostly higher Asian markets today and despite negative US markets on Sept 18.