Latest Stock Market News

​One has to remember that at such high levels and the pace at which we have gone up, bit of correction, bit of profit taking is coming but that is par for the course and it is good for the health of the market that at every level we are consolidating for some time before moving up.

The S&P BSE Sensex closed 0.09% lower at 82,890, while the NSE Nifty50 ended just below the 25,400 mark.

Stocks that hit fresh record highs on Friday include Home First Finance, which rose by more than 6%, Muthoot Finance, which gained over 1%, and Krishna Institute of Medical Sciences, which closed with a 1% increase.

The traditionally reliable Buffett indicator is signaling trouble in the USA, with the market-cap-to-GDP ratio hitting an all-time high of 2x. This surpasses the 1.4x ratio seen just before the GFC in 2008 and the dot-com bubble in 2000. India is also in a high range with a ratio of 1.3x, the highest in over a decade, but still below the 1.7x recorded in 2008 and the 2.2x peak in 1992.

A 36-hour financial rollercoaster will kick off with the Federal Reserve’s expected decision to cut interest rates on Wednesday, and culminate on Friday with the results of the Bank of Japan’s first meeting since it increased borrowing costs and contributed to a global selloff

The shares of Tolins Tyres are set to debut on the bourses on Monday. According to grey market trends, the stock is expected to deliver positive gains to investors.

The market valuation of Infosys climbed Rs 17,480.49 crore to Rs 8,07,299.55 crore and that of ITC rallied Rs 15,194.17 crore to Rs 6,42,531.82 crore.

Congress has accused Sebi chairperson Madhabi Puri Buch of trading in listed securities worth about Rs 37 crore during her tenure, violating conflict-of-interest policies. They also allege she invested in foreign assets, including Chinese funds. Congress demands an investigation into these claims by Prime Minister Narendra Modi.

Sebi has exempted Spice Healthcare from making an open offer to SpiceJet shareholders upon acquiring additional shares, with conditions including a longer lock-in period. SpiceJet also announced new board appointments as it aims to bolster its financial health and meet various obligations.

The FOMC meeting starts on September 17, with expectations for a 25 basis point rate cut. Chair Jerome Powell will provide insights on future rate cuts and economic conditions. Domestically, seven IPOs, including two mainboard and five SMEs, are set to open next week, along with 13 listings, notably Bajaj Housing Finance.