Latest Stock Market News

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.

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.

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.

Investors are turning to bond platforms like bondbazaar and indiabonds for higher yields amid equity risks and elevated valuations. These platforms offer a variety of bonds, including PSUs, tax-free bonds, and NBFC instruments, allowing investors to earn returns of 7-20% based on their risk appetite.

India has risen to third place in the annual Asia Power Index, surpassing Japan due to strong post-COVID economic growth. The index, compiled by the Lowy Institute, ranks 27 countries based on their ability to shape their external environment. India’s rise is attributed to economic growth, future potential, and diplomatic influence.

Vedanta Ltd will consider its fourth interim dividend for the current fiscal on October 8. The record date for the payout, if declared, is October 16. Earlier this month, Vedanta announced a ₹20 per share dividend. The company has already declared dividends totaling ₹35 per share this year.

Rappid Valves is set to finalize its IPO share allotment on Thursday. Investors can check their allotment status via the Link Intime India or NSE websites. The IPO, priced at Rs 222 per share, saw robust demand and was subscribed over 100 times. The company plans to use the proceeds for machinery purchases and working capital.

Ashish Gupta, CIO of Axis MF, discusses the outlook for the banking sector, noting that earnings momentum may slow due to decreasing margins and rising credit costs. However, he believes banks can perform well given current valuations and improved deposit growth supported by RBI liquidity measures. He also sees opportunities across smallcap, midcap, and largecap stocks.

​Power Grid is like the one nation, one grid, kind of a big grid. So, you will see phenomenal growth. NTPC, same reason, green energy will double and triple and again double over the next 10 odd years. So, the numbers are huge. So, even if they fulfil very small portion of it, still they will be very profitable investments.