Latest Stock Market News

FTSE announced changes to its All-World Index on Friday, adding 13 Indian stocks, the highest from any country. The new additions include Bank of Maharashtra, Central Bank of India, Cochin Shipyard, Hitachi Energy India, HUDCO, KEI Industries, and Motilal Oswal Financial Services. Additionally, 14 Indian stocks were added to the FTSE Large Cap Index, including Bharat Dynamics and Dixon Technologies.

WazirX will lift the suspension on INR balance withdrawals starting August 26. Users can withdraw 66% of their balances by September 22. A breach in its multisig wallet resulted in a loss of $230 million, leading WazirX to adopt a Singapore scheme to fairly resume cryptocurrency withdrawals after user approval.

The Federal Reserve, led by Chair Jerome Powell, plans to cut interest rates from their 23-year high, with potential reductions slated for mid-September. This decision follows a decline in inflation and a slowdown in hiring. The move aims to stabilize inflation at 2% and sustain economic growth and job markets, despite some concerns about potential recession.

Morgan Stanley and Norges Bank are among other buyers.

The Relative Strength Index of the stock stood at 46.83 on Friday.

Gold prices declined by Rs 350 to Rs 73,800 per 10 grams in the national capital on Friday, according to the All India Sarafa Association. In the previous session, gold of 99.9 per cent purity traded at Rs 74,150 per 10 grams.

Sterling hovered near a 13-month high against the dollar on Friday, trading just short of levels seen in April 2022, as traders awaited key speeches from the heads of the Federal Reserve and the Bank of England.

Wyoming, - U.S. economic data is giving the Federal Reserve the green light to cut interest rates, financial markets are aligned for the first move, and the central bank all but gave the game away on Wednesday when a readout of its July meeting showed a "vast majority" of policymakers agreed the policy easing likely would begin next month.