Latest Stock Market News

Oil prices rose on Friday due to output disruptions in the U.S. Gulf of Mexico caused by Hurricane Francine. Brent crude futures increased by 0.5% to $72.31 per barrel, while U.S. West Texas Intermediate crude futures rose by 0.6% to $69.35 a barrel. Both benchmarks are set for weekly gains despite earlier declines.

Investors have increased their bets on a significant Federal Reserve interest rate cut next week, following reports suggesting the decision might be more contentious than expected. The probability of a 50-basis point reduction rose to 39%. This has impacted currency, gold prices, and equity markets globally.

In August, mutual fund managers focused on stocks poised to benefit from potential rate cuts and falling crude prices, accumulating shares in paints, tyre companies, and select banks and NBFCs like Kotak and IndusInd.

Popular Foundations aims to raise Rs 19.87 crore by offering shares at Rs 37 each. The IPO opens on September 13 and will close on September 18, with shares expected to list on the BSE SME platform on September 23. The funds will be used for debt repayment and working capital.

Domestic markets hit a new high, gaining nearly two percent. Key stocks in focus include IRCTC, Patanjali Foods, SBI Cards, BLS International, and Tata Power due to various developments. LIC increased its stake in IRCTC to 9.3%, while SBI Cards plans to raise Rs 5,000 crore. BPCL approved two joint ventures for energy transition initiatives.

Moderna has delayed its break-even goal by two years, pushing it to 2028, due to slower regulatory processes for key products like flu and cancer vaccines. The company expects lower sales in 2025 compared to this year and plans cost-saving measures, including cuts in research and development.

Indian headline indices soared to record highs on Thursday, with the S&P BSE Sensex rising 1.77% to 82,962 and the Nifty50 ending above 25,350. Technical analyst Nagaraj Shetti forecasts further gains, with key levels at 25,800 and immediate support at 25,200.

Euro zone government bond yields, the euro and European stocks held steady on Thursday after the European Central Bank cut its main interest rate for a second time in three meetings, in line with expectations.

Indian stock markets hit new highs on Thursday, driven by rising commodity stocks and hopes of Chinese interest rate cuts, with seven Nifty50 stocks also reaching new 52-week highs.