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Business News/ Markets / Live Blog/  Market Highlights: Sensex jumps 350 pts, Nifty 100 pts; Bajaj twins shine; Finance, IT climb

Market Highlights: Sensex jumps 350 pts, Nifty 100 pts; Bajaj twins shine; Finance, IT climb

Share Market Updates: The Indian stock market gained with Sensex adding 350 pts and Nifty 100 pts as RBI keeps the repo rate at 6.5% and GDP growth projection remains at 6.5%. Bajaj twins lead the rally. Almost all sectors ended higher with Finance, Realty and IT jumping the most.

Sensex Today | Share Market Updates: RBI MPC policy decision remains in focus (MINT)Premium
Sensex Today | Share Market Updates: RBI MPC policy decision remains in focus (MINT)

Share Market Updates: Sensex and Nifty remained positive and gained around 0.5% on Friday with all sectors ending higher including Finance, IT and Realty.

The Monetary Policy Committee (MPC) of the Reserve Bank of India (RBI) kept the repo rate unchanged at 6.50% and stance of ‘withdrawal of accommodation’. RBI kept GDP growth forecast for FY24 unchanged at 6.5%.

Indian bonds fell the most in a year after the central bank upped the ante against inflation by saying it may consider selling bonds to soak up excess funds from the banking system.

Asian shares mostly rose in cautious trading Friday after Wall Street drifted to a quiet close on worries about a too-hot U.S. job market.

06 Oct 2023, 03:37:43 PM IST

Indices gained for 2nd session as RBI maintains the status quo on interest rate; Finance, IT and Realty climb

Indian shares advanced on Friday, led by gains in rate-sensitive sectors like auto and realty, after the central bank stood pat on key interest rates as expected and kept its inflation and growth expectations unchanged.

The NSE Nifty 50 index gained 100 pts to close at 19,653, while the S&P BSE Sensex rose 365 pts to end at just below 65,600, at 65,995. The Indian rupee was mostly unchanged, while bond yields rose after the RBI said it would consider open market operations to manage liquidity.

The RBI's rate-setting committee kept the key lending rate steady at 6.50%. The central bank also maintained its policy stance of "withdrawal of accommodation" to bring inflation within its target band, while keeping inflation and the growth forecast unchanged.

Bajaj twins (Bajaj Finserv and Bajaj Finance) led the rally with Titan and IndusInd Bank following them to top the stock charts. HUL and Bharti Airtel ended in the red with marginal losses.

Among sectoral indices, almost all indices ended higher in today's trading with IT, Realty and Finance topping the charts. The energy sector came under pressure and ended flat.

Asian shares mostly rose in cautious trading Friday after Wall Street drifted to a quiet close on worries about a too-hot U.S. job market.

Japan's Nikkei share average ended lower, dragged down by the declines in heavyweight technology stocks, as investors awaited the U.S. jobs report later in the day for clues on the Federal Reserve's interest rate path. The Nikkei index edged down 0.26%. The index was volatile this week and lost 2.7%.

Hong Kong stocks rose for a second session tracking firmer overseas markets. raders were also adjusting their positions and preparing for the reopening of China's markets next week after the Golden Week holiday, while awaiting a catalyst for economic growth.

Hong Kong's benchmark Hang Seng Index ended 1.6% higher, but was down 1.8% for the first week of the fourth quarter.

European stocks crept higher, following gains in Asian markets as traders prepared for a US payrolls report forecast to show employers slowed hiring last month, potentially easing pressure on the Federal Reserve to raise interest rates again.

Sensex at Close
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Sensex at Close
06 Oct 2023, 03:30:38 PM IST

Sensex Today: Multibagger small-cap stock to raise ₹50 crore fund via rights issue. Share hits upper circuit

Affordable Robotic rights issue: The board of directors of the Affordable Robotic & Automation Ltd has approved fund raise through rights issue. The company board fave its approval in its board meeting today.

After this stock market newsbreak, Affordable Robotic shares witnessed sharp upside movement and went on to hit 5 per cent upper circuit by Friday noon. The small-cap stock is currently locked in with upper circuit and quoting 684.45 apiece on BSE.

06 Oct 2023, 03:11:50 PM IST

Sensex Today Live | Share Market Updates: Emerging economies face China and rate pressures as IMF, World Bank meet

Emerging economies are facing headwinds from all sides, with a recent selloff in U.S. Treasuries and China's slowing economy adding layers of uncertainty while the Federal Reserve might not have reached the end of its rate hike cycle.

Restructuring efforts for defaulted countries could reach a breakthrough before year-end as talks continue, while the finances of nations like Pakistan and Egypt will also be under scrutiny when policy makers and asset managers gather for the World Bank and International Monetary Fund's annual meetings in Marrakech next week.

"The external backdrop does remain challenging for emerging and frontier markets across the board and that's out of their control," said Joseph Cuthbertson, senior sovereign analyst at PineBridge Investments. "It very much depends on the pace and timing of a Fed pivot." (Reuters)

06 Oct 2023, 02:57:22 PM IST

Sensex Today: Barclays hires for top roles in India amid global job cuts

Barclays Plc is hiring dealmakers in India while its global business slashes 300 jobs across the corporate and investment banking roles, Bloomberg reported on October 6.

Srikanth Chakka and Sameer Sood of Credit Suisse have been tapped for the MNC's advisory business in India by year-end, sources told Bloomberg. Sood who was with Credit Suisse since 2010 will join as MD; while Chakka, who joined the Swiss bank in 2021, will head Barclays industrials in the investment banking division in Mumbai. (Read More)

06 Oct 2023, 02:38:33 PM IST

Sensex Today Live: SoftBank may sell 2.54% stake in PB Fintech worth ₹874 crore via a block deal

SoftBank is reportedly planning to divest a 2.54 per cent stake in PB Fintech, valued at nearly 874 crore, through a block deal, as per sources cited by CNBC-TV18. The investment holding company led by Masayoshi Son is considering executing the share sale with a potential discount of 0-2 percent to the current market price of 767 per share. The indicative price range for the block deal in PB Fintech is expected to be around 752-767 per share.

Kotak Mahindra Capital is reportedly the banker in charge of managing this share sale, according to reports.  (Read More)

06 Oct 2023, 02:18:37 PM IST

Sensex Today Live | Share Market Updates: Nifty Bank gains half a per cent after RBI maintains the repo rate at 6.5%

Nifty Bank
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Nifty Bank
06 Oct 2023, 02:14:09 PM IST

Sensex Today Live: India bond yields may jump on central bank's "Damocles sword" plan of auction sales

India's benchmark 10-year bond yield posted its biggest one-day jump in 17 months on Friday, with overall bond yields expected to rise further, on the Reserve Bank of India's plan of open market sales of bonds via auctions.

The 10-year yield rose to 7.3645%, with the 15 basis points increase its biggest single-session rise since May 4, 2022.

The surge came after RBI Governor Shaktikanta Das said, while announcing monetary policy, the central bank plans to auction bonds via open market operations (OMO) to manage liquidity. (Reuters)

06 Oct 2023, 01:38:51 PM IST

Sensex Today: Titan stock climbs more than 2% and is among the biggest gainers in today's session

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06 Oct 2023, 01:37:51 PM IST

Sensex Today Live: Steel industry body ISA inks pact with GeM to help MSMEs in supply and procurement

Indian Steel Association (ISA) on Friday said it has signed an agreement with the Government e-Marketplace (GeM) to help MSMEs in supplying their products and make procurement through the online marketplace.

"ISA proudly announced the signing of a Memorandum of Understanding (MoU) with GeM. This partnership aims to facilitate the integration of all ISA members onto the GeM platform, both as sellers and buyers," ISA said in a statement.

The main objective of this collaboration is to support Micro, Small, and Medium Enterprises (MSMEs) in supplying their products as well as make procurement through the online platform, ISA Secretary General Alok Sahay said. (PTI)

06 Oct 2023, 01:14:17 PM IST

Sensex Today Live | Share Market Updates: Renault, Volvo, CMA CGM pool forces to develop electric vans

Carmakers Renault and Volvo and shipping group CMA CGM said on Friday they will jointly develop a new generation of electric vans, aiming to begin production in 2026.

Renault and Volvo signed binding agreements to launch a new company where they will initially each hold a 50% equity stake and invest 300 million euros over the next three years, they said in a statement.

CMA CGM signed a non-binding letter of intent with Renault and Volvo to join the new company and invest 120 million euros through PULSE, its Energy Fund dedicated to accelerating the decarbonization of transport and logistics sectors. There was no further detail on when this might happen or what stake it may take in the venture. (Reuters)

06 Oct 2023, 01:12:49 PM IST

Sensex Today Live: IT index emerges as one of the biggest gainers with most stocks trading higher in today's session

IT index
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IT index
06 Oct 2023, 12:55:46 PM IST

Sensex Today Live | Share Market Updates: 87 pc of ₹2,000 notes came as bank deposits; ₹12,000 cr of currency yet to return: Das

Reserve Bank Governor Shaktikanta Das on Friday said 87 per cent of the 2,000 denomination notes being withdrawn have returned as deposits into banks while the rest has been exchanged across counters.

Addressing a press conference after the announcement of the bi-monthly monetary policy review, Das said 12,000 crore of the 3.56 lakh crore worth of 2,000 notes in circulation as on May 19, 2023 are yet to come back.

Last on Saturday, the RBI had said that 3.42 lakh crore of notes had been received back as of September 29, and 14,000 crore was yet to come back. The central bank had also extended the deadline for return of the notes by a week.

Das said the RBI wants to "emphatically" focus on the 4 per cent headline inflation target, and till the price rise number does not get down, the monetary policy will be "actively disinflationary". (PTI)

06 Oct 2023, 12:39:54 PM IST

Sensex Today Live: Organic Recycling Systems share price debuts at 7.5% premium at ₹215 on BSE SME

Organic Recycling Systems IPO listing date: Organic Recycling Systems shares made a somewhat a decent debut on BSE SME today. On BSE SME, Organic Recycling Systems share price today was listed at 215 per share, 7.5% higher than the issue price of 200.

Organic Recycling Systems IPO listing date: Organic Recycling Systems shares made a somewhat a decent debut on BSE SME today. On BSE SME, Organic Recycling Systems share price today was listed at 215 per share, 7.5% higher than the issue price of 200. (Read More)

06 Oct 2023, 12:12:42 PM IST

Sensex Today Live: Sun Pharma files new drug application with USFDA for investigational medicine to treat alopecia

Sun Pharmaceutical Industries Ltd on Friday said the US health regulator has accepted the new drug application for deuruxolitinib, an investigational oral drug for the treatment of adults with moderate to severe alopecia areata.

In the new drug application, Sun Pharma has submitted the 8mg twice daily regimen of deuruxolitinib for US Food and Drug Administration (USFDA) review, the company said in a statement.

"We believe that deuruxolitinib has the potential to be an important new treatment option for people who continue to struggle every day with the chronic nature of alopecia areata," Sun Pharma CEO, North America Business, Abhay Gandhi, said. (PTI)

06 Oct 2023, 12:11:34 PM IST

Sensex Today Live | Share Market Updates: Oil on track for sharpest weekly decline since March

Oil prices were on track for their steepest weekly decline since March despite rising on Friday, driven by concerns that higher-for-longer interest rates will slow global growth and hammer fuel demand.

Both benchmarks had surged to 2023 highs last week, but Brent has dropped 11.6% and WTI by about 9% this week.

The oil slump has coincided with a steep drop in U.S. Treasury prices to 17-year lows, on concerns the U.S. Federal Reserve will keep rates higher for longer and growing worries about government spending and a ballooning budget deficit in the United States, the world's top oil consumer. (Reuters)

06 Oct 2023, 12:01:40 PM IST

Indices remain steady and gain around 0.3% as RBI maintains the status quo on repo rate: Bajaj Finance and Titan jump

Sensex at Noon
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Sensex at Noon
06 Oct 2023, 11:44:32 AM IST

Sensex Today: Realty index jumps more than a per cent as most stocks trade in the green 

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06 Oct 2023, 11:42:10 AM IST

Sensex Today Live: Kama Jewelry on the RBI monetary policy and its effect on gold and jewelery sector

Colin Shah, MD, Kama Jewelry on the RBI monetary policy: RBI keeping policy rates intact is at par with the industry expectations. This pause amidst the onset of festive season will give a much-needed boost to consumer buying sentiment, thereby propelling demand. The expansion recorded in urban consumption will further foster velocity in jewellery sales in Indian markets. Additionally, increasing limit for gold loans from 2 Lakh to 4 Lakh in respect of urban cooperative banks will prove to be beneficial for buyers during the upcoming wedding season. The core inflation trajectory is projected to ease further during the year, resonating a gradual but steady rise in purchasing power of the masses. This sentiment towards the yellow metal will further will be guided by the inflation trajectory, system liquidity and movement in the economic activities in the West. Overall, we expect to witness a sustainable growth in exports as the journey to the targeted 4% inflation rate unfolds.

06 Oct 2023, 11:21:06 AM IST

Sensex Today Live | Share Market Updates:: Air India commissions mega warehouse facility in Delhi for storage of engineering spares

Air India on Friday said it has commissioned a mega warehouse facility in Delhi for storing over 1,000,000 engineering spares for aircraft maintenance.

Spread across 54,000 sq ft and located near Terminal 3, at Delhi Airport's cargo complex, the centralised warehousing facility will improve the turnaround time of flights operating out of Delhi, the company said.

The facility will offer a one-stop solution for storing aircraft spares, tools and ground support equipment ranging from hardware to sophisticated and complex avionics, hydraulics, structural, pneumatic, and mechanical components, it said. (PTI)

06 Oct 2023, 11:04:29 AM IST

Sensex Today Live: Ajmera Realty and Knight Frank on RBI MPC Announcement and its effect on the Realty sector

Nitin Bavisi, CFO, Ajmera Realty and Infra Ltd: Unchanged repo rate acts as a testament to the RBI's commitment to maintaining stability amidst economic growth. This continuity in monetary policy provides a steady backdrop for our industry. With core inflation in check and the cautious approach taken by the apex bank, we anticipate a promising festive season for the real estate market.

This favorable environment will stimulate demand, benefiting both homebuyers and developers across all segments. With rising per-capita income and the aspiration for upgraded living spaces, we are optimistic about a robust sales momentum in the coming months.

Shishir Baijal, Chairman & Managing Director, Knight Frank India: The decision will continue to maintain the existing momentum of residential real estate demand in India. Since the interest rate upcycle, the repo rate has been hiked by 250bps, resulting in 160bps rise in home loan rates. Since then, although the overall housing demand has remained upbeat, the lower housing segment or the affordable housing demand has witnessed a deceleration due to a substantial rise in the borrowing costs and other challenges. The stance today should be considered as a big relief for the housing sector of the country which has shown tremendous strength in the face of headwinds over the last year

06 Oct 2023, 11:01:54 AM IST

Sensex Today Live | Share Market Updates: India's BPCL offers first gasoil cargo in over a year - Reuters sources

India's Bharat Petroleum Corp has offered its first spot gasoil cargo, via a sales tender, in more than a year, three industry sources familiar with the matter said on Monday.

BPCL is seeking to sell at least 40,000 metric tons of 10ppm sulphur gasoil loading Oct. 26-27 from Kochi, according to a document seen by Reuters.

The tender closes on Oct. 3, with same-day validity.

The refiner had previously offered contractual 10ppm sulphur gasoil cargoes in April 2022, for delivery between July 2022 and January this year, Reuters records showed. (Reuters)

06 Oct 2023, 10:43:48 AM IST

Sensex Today: SwitchMyLoan, Geojit FInances, Future Generali Insurance, Worldline India, WhiteOak Capital Asset, and Waterfield Advisors views on RBI MPC policy decision

Vinod Nair, Head of Research at Geojit Financial Services: On a positive note, interest rates haven't increased as anticipated, however they are expected to remain elevated for an extended period. This will have an implication on rate-sensitive sectors like banking, auto, core industries, and heavy-weighted balance sheet companies. The elevated global bond yields and appreciation of the US dollar will affect the domestic economy and capital flows. However, it should not have a deep overhang effect on the economy but rather a mixed bias in the short term. The inclusion of government securities in the global bond index and moderation in inflation, like food & international commodity prices, will support INR and domestic corporate profit even in a volatile global currency market.

Himanshu Panchmatiya - Cofounder Switch My Loan: With no changes in Repo rate & CRR, we expect the lending portfolios to go this quarter as festive season is round the corner. Segments like Consumer Durable Loans, Car Loans, Personal Loans & fresh Home Loans is expected to do well in this quarter. We foresee the rates to remain unchanged for next quarter too seeing the Global economy market & elections in India. RBI may try to squeeze liquidity in other form and wouldn’t touch the CRR.

Niraj Kumar, Chief Investment Officer, Future Generali India Life Insurance Company Ltd: MPC has delivered an In-line and balanced policy, with the overarching focus being maintaining the stability in policy stance, despite being clouded by the chaos in global rates market and commodities. While the MPC’s mention of the need for OMO sales has slightly spooked the markets in the interim, it’s imperative from liquidity standpoint, especially with Global bond index inclusion on the horizon. Overall, the MPC has stuck to theme of continuity in the policy exercising caution and being data-dependent amid the looming uncertainty around global markets.

Shantanu Bhargava, Managing Director, Head of Discretionary Investment Services, Waterfield Advisors: The RBI had overlooked data in the early aftermath of COVID since the aim was to stimulate the economy & engineer a turn-around. Since changing its stance last year, the RBI has been data driven. According to the RBI's inflation prediction for Q3 & this FY, today's policy outcome is not surprising. We expect the RBI to retain the status quo unless we see a durable drop in inflation and if steady economic activity continues.

Piyush Baranwal, Sr. Fund Manager (Fixed Income), WhiteOak Capital Asset Management Ltd: Status quo in today’s policy indicates MPC’s comfort with moderating trajectory for CPI and RBI is now using tighter liquidity including through OMO sales to accelerate transmission of past policy measures to drive inflation towards its 4% target. As a side benefit, this should also help ward off pressure on the external front as global markets adjust to the ‘higher for longer’ rates and tighter financial conditions.

Ramesh Narasimhan, CEO, Worldline India: The announcement by the Reserve Bank of India to extend the Payments Infrastructure Development Fund (PIDF) scheme tenure by another two years is a welcome move. It shows the commitment and focus of the regulator to increase the reach and penetration of digital payments further. We look forward to working extensively on our part as a leading payments player to accelerate the deployment of digital payment acceptance modes in the targeted geographies.


06 Oct 2023, 10:35:03 AM IST

Sensex Today Live: Gold price extends rally as crude oil hits five-week low. US dollar dips further

Gold prices continued their upward trend for a second consecutive session in early morning trading on Friday. The futures contract for gold on the Multi Commodity Exchange (MCX), set to expire in December 2023, started the day on a positive note, opening at 56,735 per 10 grams. Within a few minutes of the opening bell, it reached an intraday high of 56,739 per 10 grams.

In the international market, the spot gold price exhibited a similar pattern, hovering around $1,823 per ounce. It briefly peaked at an intraday high of $1,824.58 per ounce. (Read More)

06 Oct 2023, 10:27:59 AM IST

Sensex Today Live | Share Market Updates: Valiant Laboratories share price opens at 15.8% premium at ₹162.15 on NSE

Valiant Laboratories IPO listing date: Valiant Laboratories share price listed on the bourses at a premium on Friday. On the NSE, Valiant Laboratories share price today was listed at 162.15 per share, 15.8% higher than the issue price of 140, and on the BSE, Valiant Laboratories share price was listed at 161 per share. (Read More)

06 Oct 2023, 10:22:18 AM IST

Sensex Today: RBI MPC Meeting: GDP growth forecast for FY24 unchanged at 6.5%

GDP growth forecast for FY24 unchanged at 6.5%

RBI kept GDP growth forecast for FY24 unchanged at 6.5%.

- Q2FY24 GDP growth forecast unchanged at 6.5%

- Q3FY24 unchanged at 6.0%

- Q4FY24 GDP growth forecast unchanged at 5.7%

- CPI inflation forecast for April-June 2024, or Q1FY25 unchanged at 6.6%

06 Oct 2023, 10:12:36 AM IST

Sensex Today: RBI MPC Meeting: Policy stance retained at ‘Withdrawal Of Accommodation’

RBI maintains status quo on the policy stance. It is retained at ‘Withdrawal Of Accommodation’ with 5 of 6 MPC members voting in favour of this, announced RBI Governor Shaktikanta Das.

06 Oct 2023, 10:08:48 AM IST

Sensex Today Live: Monetary policy focus remains to align inflation at 4% target, said RBI Governor Shaktikanta Das

Monetary policy focus remains to align inflation at 4% target, said RBI Governor Shaktikanta Das

06 Oct 2023, 10:08:27 AM IST

Sensex Today: RBI maintains the status quo and keeps the repo rate at 6.5%

The Reserve Bank of India (RBI) on October 6 maitained status quo on policy rates and stance of its monetary policy. The RBI kept the repo rate unchanged at 6.5%.

06 Oct 2023, 10:00:40 AM IST

Sensex Today Live: DoT dismisses Vodafone Idea's licence fee demand of ₹3,273 crorefor FY16 and FY17

The Department of Telecommunications (DoT) has disposed Vodafone Idea’s representation with respect to licence fee demand totalling 3,273 crore, the company informed the exchanges.

Vodafone Idea said DoT has in a communication on October 4 disposed-off the company's representation and objections in respect of license fee demand of 1,749 crore and 1,524 crore, respectively (including interest till 31.03.2023) for FY2015-16 and FY2016-17. (Read More)

06 Oct 2023, 09:49:14 AM IST

Sensex Today Live | Share Market Updates: Bajaj Finserv jumps more than 2% and is among the biggest gainers in today's session

Bajaj Finserv
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Bajaj Finserv
06 Oct 2023, 09:31:38 AM IST

Sensex Today Live: Geojit Financial Services views on today's market: From the market perspective, the more important thing will be the US jobs data expected tonight

Dr V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services: The important event of today, the MPC’s monetary policy, is unlikely to impact the markets since no changes are expected in policy rates or stance. From the market perspective, the more important thing will be the US jobs data expected tonight. If the jobs data comes strong the market will react negatively discounting a rate hike by the Fed in the coming policy meeting. On the other hand, if the jobs data is weak, the market will rally discounting a pause by the Fed.

Expected Q2 results will influence stock prices in the coming days. Financials, particularly banking, automobiles, hotels, real estate, cement and capital goods will do well. A possible surprise may come from IT in the form of higher order bookings. Even if the results are expectedly poor, the stocks may rebound on the back of better orders and commentary.

06 Oct 2023, 09:24:07 AM IST

Sensex Today: Indices gain at the start as Sensex jumps 150 pts and Nifty gains 50 pts; Metal zooms with most sectors trading in the green

Sensex at Open
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Sensex at Open
06 Oct 2023, 09:14:47 AM IST

Sensex Today Live | Share Market Updates: IndiGo to introduce fuel charge on domestic, international flights from Oct 6

Budget carrier IndiGo on Thursday said it will introduce a fuel charge on domestic and international routes, starting October 6.

The charges will depend on the distance in respective sectors, the company said, adding that the move comes amid significant increase in jet fuel prices.

Aviation Turbine Fuel (ATF) prices have surged in the last three months with consecutive price hikes every month, the airline said.

ATF accounts for a substantial portion of an airline's operating expenses, necessitating fare adjustment to address such cost surge, IndiGo said. (PTI)

06 Oct 2023, 09:04:59 AM IST

Sensex Today: Sensex preopens in the green with marginal gain as focus to remain on RBI MPC policy decision today

Sensex at Preopen
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Sensex at Preopen
06 Oct 2023, 08:57:51 AM IST

Sensex Today Live: BlackRock’s ETF may turn big loser in emerging market sell off

Exchange-traded funds that buy emerging-market equities are undergoing a churn — and the biggest loser is the BlackRock Inc. fund that helped usher in passive investing to the asset class two decades ago.

Investors have withdrawn $4.6 billion from the iShares MSCI Emerging Markets ETF since July — of which $1 billion, or 6% of its assets, fled in the past five days alone. Combined with an equity selloff during this period, the fund’s assets have shrunk to the least since March 2020. It’s now $17.7 billion fund compared with $53 billion a decade ago. (Read More)

06 Oct 2023, 08:43:02 AM IST

Sensex Today Live: India among top 3 nation with highest 5G base, roll out remarkable: Nokia CEO

The 5G network rollout in India has been remarkable and the country is among the top three nations with the largest 5G installed base in the world, a top Nokia official said on Thursday.

Nokia President and CEO Pekka Lundmark was addressing an event during the inauguration of the company's 6G research lab in Bengaluru.

"5G rollout in India is truly remarkable. This has been one of the fastest telecom network roll-outs ever and means India is now among the top three countries in the world that have the largest 5G installed base, with 5G download speeds beating those found in many advanced markets," Lundmark said. (PTI)

06 Oct 2023, 08:34:28 AM IST

Sensex Today Live | Share Market Updates: ExxonMobil nears $60 billion deal to buy Pioneer Natural Resources, become top US oil producer

ExxonMobil Corporation, a prominent US natural gas company, is on the verge of finalizing a significant $60 billion agreement to acquire Pioneer Natural Resources Co, primarily focused on shale resources, according to a report from the Wall Street Journal. Upon the successful completion of this transaction, Exxon is poised to emerge as a leading producer in the United States' most prolific oil basin. As of the latest data, Pioneer was valued at approximately $50 billion in the market. This deal represents Exxon's most substantial acquisition since its merger with Mobil Corp. back in 1999. (Read More)

06 Oct 2023, 08:27:14 AM IST

Sensex Today Live:: Stocks to Watch: IndiGo, PB Fintech, Valiant Lab, HPCL, IOC, Godrej Consumer, Manappuram Finance, Tata Steel, Vedanta, Thomas Cook India, Metro, and Bata India

IndiGo, India's largest airline, is implementing a fuel surcharge ranging from 300 to 1,000 on airfares due to the substantial surge in jet fuel prices.

SoftBank plans to divest an additional 2.54% stake in PB Fintech, the parent company of Policybazaar, through a block deal, with an offer price range of 752 to 767 per share.

Valiant Laboratories is set to debut on the stock market, with analysts predicting a premium of 15-18% over the IPO price, attributing this optimism to strong subscription rates.

The petroleum ministry has increased LPG distributors' commission to 73.08 per cylinder, despite no revision in retail LPG prices.

Godrej Consumer Products reports mid-single-digit volume growth in the domestic market for Q3, including improved performance from acquired brands.

Asirvad Micro Finance, a subsidiary of Manappuram Finance, seeks to raise 1,500 crore through an IPO, with a fresh issue of equity shares.

Tata Steel's subsidiary, Tinplate Company of India, faces a tax penalty of about 40 lakhs, pending appeal.

Securities Appellate Tribunal overturns a Sebi penalty on Cairn India, a subsidiary of Vedanta, related to a buyback offer announcement.

Crisil upgrades Thomas Cook India's rating to AA-/Stable for the long-term and CRISIL A1 for the short-term, citing a post-pandemic revival and increased revenue.

The footwear industry is expected to grow moderately at 7-8% in the current fiscal year, down from 28% in FY23, due to factors like sluggish volume growth and stable average selling prices. (Read More)

06 Oct 2023, 08:22:52 AM IST

Sensex Today: Tata Technologies IPO expected to be launched soon. Here's what experts feel the pricing could be

Tata Technologies, a subsidiary of Tata Motors, has generated significant anticipation for its upcoming IPO and recently submitted an addendum to its draft red herring prospectus (DRHP) to the Securities and Exchange Board of India (SEBI). According to the addendum filed with SEBI, Tata Technologies intends to offer 9.57 crore shares in its planned IPO, each with a face value of 2 per share.

As part of the Tata Tech IPO, Tata Motors is planning to sell up to 8.11 crore shares through an offer for sale. Additionally, Alpha TC aims to sell up to 9.71 crore shares, while Tata Capital Growth Fund I will offer up to 48.58 lakh shares in this offering. This development marks a significant step in the lead-up to one of the highly-anticipated IPOs in the financial market. (Read More)

06 Oct 2023, 08:04:16 AM IST

Sensex Today Live: Godrej Consumer registers mid-single-digit volume growth for Jul-Sep quarter

Godrej Consumer Products Ltd has recorded mid-single-digit volume growth for the July-September quarter in the domestic market despite weak macros and adverse weather conditions.

"Overall, Home Care volumes grew in mid-single digit while Personal Care grew in low-single digit," said Godrej Consumer Products Ltd in a quarterly update on Thursday.

The performance of Park Avenue and KamaSutra brands, which the Godrej Group FMCG arm acquired earlier this year from Raymond Group, has "improved sequentially and are on track to achieve full-year guidance", it added.

"In India, we witnessed weak macros and adverse weather conditions during the quarter. Despite the tough operating environment, our organic business delivered steady performance with mid-single digit volume growth," Godrej Consumer Products Ltd (GCPL) said. (PTI)

06 Oct 2023, 07:50:22 AM IST

Sensex Today Live | Share Market Updates: Distributor commission for LPG hiked to ₹73 per cylinder

The Ministry of Petroleum has raised the commission for LPG distributors from 64.84 per cylinder, which was set in May last year, to 73.08 per cylinder. This change was communicated through a letter dated October 3, addressed to the oil marketing companies (OMC).

It's worth noting that this revision in the distribution commission will not lead to a corresponding adjustment in the retail prices of LPG.

It said the government approved the “revision of distributor’ commission to 73.08 per 14.2 kg cylinder (establishment charges: 39.65 and delivery charges: 33.43) and 36.54 per 5.0 kg cylinder (establishment charges: 19.82 and delivery charges: 16.72)". (Read More)

06 Oct 2023, 07:48:59 AM IST

Sensex Today: Buy or sell: Vaishali Parekh recommends three stocks to buy today

Vaishali Parekh, Vice President — Technical Research at Prabhudas Lilladher recommends:

1] McDowell-N or United Spirits: Buy at 1011, target 1060, stop loss 995;

2] IndiGo: Buy at 2473, target 2570, stop loss 2440; and

3] Bombay Dyeing: Buy at 143.75, target 152, stop loss 141. (Read More)

06 Oct 2023, 07:32:43 AM IST

Sensex Today Live: Valiant Laboratories IPO listing date today. GMP, experts see up to 15% premium

The initial public offering (IPO) of Valiant Laboratories Limited is scheduled to be listed on October 6, 2023, which is today. According to the BSE notice, starting from this date, the equity shares of Valiant Laboratories Limited will be listed and allowed for trading on the Exchange under the category of 'T' Group of Securities.

The listing of Valiant Laboratories shares will take place on both the BSE and NSE, and it will commence with a special pre-open session at approximately 9:45 AM. Investors will be able to begin trading Valiant Laboratories shares from 10:00 AM during today's trading session. It's important to note that the scrip will be in the Trade-for-Trade segment for the next 10 trading days. (Read More)

06 Oct 2023, 07:30:31 AM IST

Sensex Today Live: RBI Monetary Policy Committee Meeting: RBI may keep repo rate unchanged; maintain hawkish pause

The Reserve Bank of India (RBI) is set to announce its fourth bi-monthly monetary policy today, October 6. The three-day meeting of RBI Governor Shaktikanta Das-led Monetary Policy Committee (MPC) began on Wednesday, October 4, and its outcome is due on Friday. The central bank is widely expected to keep the repo rate unchanged at 6.50% and maintain a hawkish pause. Economists also expect no change in stance, as RBI will keep liquidity tight. (Live Updates)

06 Oct 2023, 07:29:08 AM IST

Sensex Today Live | Share Market Updates: Wall Street edges lower on Thursday ahead of a highly anticipated jobs report

Wall Street drifted to a quiet close Thursday as pressure from the bond market remained high due to worries about a too-hot U.S. job market.

The S&P 500 slipped 5.56, or 0.1%, to 4,258.19, a day before a highly anticipated report on the job market that could sway the Federal Reserve’s view on interest rates. The Dow Jones Industrial Average edged down by 9.98 points, or less than 0.1%, to 33,119.57. The Nasdaq composite dipped 16.18, or 0.1%, to 13,219.83.

Stocks have struggled since the summer under the weight of soaring Treasury yields in the bond market, which undercut stock prices and crimp corporate profits. Yields have leaped as traders acquiesce to a new normal where the Federal Reserve is likely to keep its main interest rate at a high level for a long time, as it tries to extinguish high inflation.

Treasury yields wavered up and down Thursday after a report showed fewer U.S. workers applied for unemployment benefits last week than economists expected. That’s a sign fewer workers are getting laid off than expected, which is normally a good sign.

But the worry now is that too strong of a job market could put upward pressure on inflation. That’s why the Fed has raised its main interest rate to the highest level since 2001, to intentionally slow the job market. (AP)

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