Index Financial News

Shares of IDFC First Bank Ltd.(up 1.32 per cent), Au Small Finance Bank Ltd.(up 1.04 per cent), Federal Bank Ltd.(up 0.5 per cent), HDFC Bank Ltd.(up 0.43 per cent) and State Bank of India(up 0.05 per cent) ended the day as top gainers in the pack. On the other hand, Bank of Baroda(down 1.72 per cent), IndusInd Bank Ltd.(down 1.36 per cent), Kotak Mahindra Bank Ltd.(down 1.13 per cent), Punjab National Bank(down 1.05 per cent) and ICICI Bank Ltd.(down 0.79 per cent) finished as the top losers of the day. The Nifty Bank index closed 0.32 per cent down at 44624.2. Benchmark NSE Nifty50 index ended down 9.85 points at 19664.7, while the BSE Sensex stood down 78.22 points at 65945.47. Among the 50 stocks in the Nifty index, 26 ended in the green, while 24 closed in the red. Shares of Vodafone Idea, JP Power, IFCI, IOB and Suzlon Energy were among the most traded shares on the NSE. Shares of Winsome Yarns, Shreyas Ship, Airan Ltd., IFCI and Divgi Torqtransfer hit their fresh 52-week highs in today's trade, while Rite Zone Chemcon In, Chavda Infra, Jiwanram Sheoduttrai, Jalan Transolutions and Essen Speciality Fil hit their fresh 52-week lows.

The Dollar Strength Index (DXY) achieved its highest level in nearly 10 months on Sep. 22, indicating growing confidence in the U.S. dollar compared to other fiat currencies like the British pound, euro, Japanese yen, and Swiss franc.

Natco Pharma Ltd.(up 3.09 per cent), Dr.

Eicher Motors Ltd.(up 2.96 per cent), Bajaj Auto Ltd.(up 1.54 per cent), TVS Motor Company Ltd.(up 1.45 per cent), Sona BLW Precision Forgings Ltd.(up 1.25 per cent) and Hero MotoCorp Ltd.(up 1.06 per cent) were among the top gainers. Ashok Leyland Ltd.(down 1.47 per cent), Tube Investments of India Ltd.(down 0.69 per cent), Maruti Suzuki India Ltd.(down 0.32 per cent), Balkrishna Industries Ltd.(down 0.28 per cent) and Bosch Ltd.(down 0.11 per cent) were the top losers on the index. The Nifty Auto index was up 0.46 per cent at 16295.5 at the time of writing this report. Benchmark NSE Nifty50 index was up 3.95 points at 19678.5, while the BSE Sensex was down 26.55 points at 65997.14. Among the 50 stocks in the Nifty index, 27 were trading in the green, while 22 were in the red. Shares of Vodafone Idea, JP Power, IOB, IFCI and YES Bank were among the most traded shares on the NSE. Shares of Winsome Yarns, Airan Ltd., Selan Expl Tech, Kennametal India and IFCI hit their fresh 52-week highs in today's trade, while Yudiz Solutions, Essen Speciality Fil, Sungarner Energies, Unihealth Consultanc and Pramara Promotions hit fresh 52-week lows in trade.

The MCX October gold futures were trading down by Rs 26 or 0.04% from the Monday's closing price at Rs 58,675 per 10 gram on the MCX while the December Silver futures were trading at Rs 71,842 per kg, lower by Rs 308 or 0.43%. On Comex, gold futures were trading at $1,933.10 per troy ounce on Tuesday, down by $3.50 or 0.18% while silver futures were at $23.290, lower by $0.095 or 0.410%. Neha Qureshi, Senior Technical & Derivative Analyst, Anand Rathi Commodities & Currencies sees MCX gold October futures getting stuck in a sideways pattern on the daily charts and expects it to trade in a range between Rs 58,300 and 59,400. «Currently, the price of gold is trading below both its 50-day and 100-day Exponential Moving Averages (EMA), which are acting as resistance levels. Meanwhile, the Relative Strength Index (RSI) is also indicating a bearish sentiment with a negative divergence.

global bond index and anticipation of more such announcements will likely bolster the rupee vis-a-vis its peers even as the probability of US interest rates remaining higher for longer theoretically dims the appeal of emerging market assets. While the Reserve Bank of India is likely to absorb some of the dollar inflows and ensure competitiveness of exports, the stable influx of overseas funds is seen providing the rupee a cushion against a multi-year ascent in US bond yields and hardening crude oil prices. Major dollar inflows on account of index inclusion are not expected for around six months but at a time when peer units such as the Chinese yuan and the Malaysian ringgit have been taking a beating against the greenback, the view on the rupee remains constructive. «The inclusion of India in one of the major global indices is a clear medium-term positive — both from the flows perspective and additional inflows which it can bring in if other index providers also include India,» said Anubhuti Sahay, Standard Chartered Bank's Head of South Asia Economic Research. Last week, JP Morgan said India would be included in its Government Bond Index Emerging Markets global index suite starting June 2024, a development that is expected to bring in over $20 billion of stable flows to India's sovereign bond market over two years. Following the move, traders hope for a similar announcement by the Bloomberg Global Aggregate Index. «Between March 2024 and March 2025, we expect $20-25 billion only on the JP Morgan inclusion.

JP Morgan said it expects India’s weight to reach a tenth of the GBI-EM Global Diversified index.

Shares of Ashok Leyland Ltd.(up 2.01 per cent), TVS Motor Company Ltd.(up 1.43 per cent), Bharat Forge Ltd.(up 1.4 per cent), Samvardhana Motherson International Ltd.(up 0.67 per cent) and MRF Ltd.(up 0.64 per cent) ended the day as top gainers in the pack. On the other hand, Sona BLW Precision Forgings Ltd.(down 1.83 per cent), Hero MotoCorp Ltd.(down 1.58 per cent), Mahindra & Mahindra Ltd.(down 1.1 per cent), Eicher Motors Ltd.(down 0.66 per cent) and Tata Motors Ltd.(down 0.28 per cent) finished as the top losers of the day. The Nifty Auto index closed 0.08 per cent down at 16221.55. Benchmark NSE Nifty50 index ended up 0.3 points at 19674.55, while the BSE Sensex stood up 14.54 points at 66023.69. Among the 50 stocks in the Nifty index, 24 ended in the green, while 26 closed in the red. Shares of JP Power, Vodafone Idea, PNB, YES Bank and IRB Infra Dev.

Sriram Krishnan, Chief Business Development Officer, NSE, says “we have taken a bit of time to have these discussions because we wanted to cover all types of stakeholders, not just the domestic ones, but even the foreign portfolio investors. After a lot of discussions they have come up with this suggestion that we should not touch the cash equity segment, but it would be the right thing to do if we were to extend the trading hours for the equity derivative segment. So, for a start, we are looking at a session from 6 pm to 9 pm India time where we will offer index options and futures.”What is the National Stock Exchange plans for extending trading hours for equity derivatives? We submitted a proposal a couple of weeks back, I do not remember the exact date but very much in this month.

Indiabulls Real Estate Ltd.(up 7.46 per cent), Sobha Ltd.(up 1.98 per cent), Brigade Enterprises Ltd.(up 1.21 per cent), Godrej Properties Ltd.(up 0.32 per cent) and Oberoi Realty Ltd.(up 0.15 per cent) were among the top gainers. Phoenix Mills Ltd.(down 2.27 per cent), Mahindra Lifespace Developers Ltd.(down 2.02 per cent), Macrotech Developers Ltd.(down 1.94 per cent), Prestige Estates Projects Ltd.(down 1.06 per cent) and DLF Ltd.(down 0.01 per cent) were the top losers on the index. The Nifty Realty index was down 0.35 per cent at 559.55 at the time of writing this report. Benchmark NSE Nifty50 index was down 62.65 points at 19611.6, while the BSE Sensex was down 199.55 points at 65809.6. Among the 50 stocks in the Nifty index, 18 were trading in the green, while 32 were in the red. Shares of JP Power, Vodafone Idea, YES Bank, Indian Railway Fin and IFCI were among the most traded shares on the NSE. Shares of Sonu Infratech, Schneider, Nelcast, MTNL and KM Sugar Mills hit their fresh 52-week highs in today's trade, while Delta Corp, Pramara Promotions, Jiwanram Sheoduttrai, FutureLifestyleFash and Shree Ram Proteins hit fresh 52-week lows in trade.

L&T Technology Services Ltd.(up 1.05 per cent) and MphasiS Ltd.(up 0.07 per cent) were among the top gainers. Infosys Ltd.(down 1.19 per cent), Tata Consultancy Services Ltd.(down 0.96 per cent), HCL Technologies Ltd.(down 0.9 per cent), Wipro Ltd.(down 0.74 per cent) and LTIMindtree Ltd.(down 0.74 per cent) were the top losers on the index. The Nifty IT index was down 0.8 per cent at 32642.15 at the time of writing this report. Benchmark NSE Nifty50 index was down 46.9 points at 19627.35, while the BSE Sensex was down 146.79 points at 65862.36. Among the 50 stocks in the Nifty index, 18 were trading in the green, while 32 were in the red. Shares of JP Power, Vodafone Idea, YES Bank, IFCI and IOB were among the most traded shares on the NSE. Shares of Sonu Infratech, MTNL, Schneider, Nelcast and KM Sugar Mills hit their fresh 52-week highs in today's trade, while Delta Corp, Pramara Promotions, Jiwanram Sheoduttrai, FutureLifestyleFash and Shree Ram Proteins hit fresh 52-week lows in trade.

Maruti Suzuki India Ltd.(up 1.33 per cent), Samvardhana Motherson International Ltd.(up 0.83 per cent), TVS Motor Company Ltd.(up 0.69 per cent), Mahindra & Mahindra Ltd.(up 0.68 per cent) and Bajaj Auto Ltd.(up 0.67 per cent) were among the top gainers. Sona BLW Precision Forgings Ltd.(down 0.99 per cent), Hero MotoCorp Ltd.(down 0.65 per cent), MRF Ltd.(down 0.32 per cent) and Balkrishna Industries Ltd.(down 0.17 per cent) were the top losers on the index. The Nifty Auto index was up 0.5 per cent at 16314.95 at the time of writing this report. Benchmark NSE Nifty50 index was up 1.05 points at 19675.3, while the BSE Sensex was up 32.91 points at 66042.06. Among the 50 stocks in the Nifty index, 22 were trading in the green, while 28 were in the red. Shares of JP Power, YES Bank, Vodafone Idea, IFCI and Indian Railway Fin were among the most traded shares on the NSE. Shares of Sonu Infratech, MTNL, Nelcast, Schneider and KM Sugar Mills hit their fresh 52-week highs in today's trade, while Delta Corp, Equippp Social Impact, Jiwanram Sheoduttrai, FutureLifestyleFash and Aatmaj Healthcare Ltd.

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This event has been a long pending ask and expectation of the financial markets, which both the Indian central bank and the government had been actively pursuing and consistently putting forth the Indian point of view. Bond indices serve as crucial benchmarks for the fixed-income market and aid investors in assessing the performance of various debt instruments.

“Struggling Chinese economy and rising crude oil price pushed the dollar index. Elevated crude oil prices along with slower export may keep the rupee at a subdued level,” says Arpit Shah, Co-Founder, Care Portfolio Managers Pvt Ltd. In an interview with ETMarkets, Shah who brings in more than 15 years of experience in the capital markets said, “We advise investors to be company specific, and when you see sharp movement in the price it is advisable to keep rebalancing portfolio.” Edited excerpts:How should one play the midcap and smallcap theme now?Small and midcaps were in the consolidation phase for almost 18 months i.e. from September 21 till March 23. However, during those times, companies' fundamentals improved while valuations remained either flat or lower. So, we believe there is more steam left in this set of companies.

Mutual Funds of India (AMFI) on Friday welcomed the decision of global financial major JP Morgan to include government bonds in its benchmark Emerging Market Index from next year, saying it will result in more demand for government securities. It will help bring over USD 30 billion into government bonds or government securities (G-Sec), AMFI Chief Executive NS Venkatesh said. «We welcome the decision. This will increase the demand for government bonds resulting in the yields coming down. The forex inflow of over USD 30 billion will result in strengthening of Indian Rupee,» he told PTI. The inclusion of IGBs will be staggered over a 10-month period from June 28, 2024, to March 31, 2025, with a one per cent increment on its index weight each month.

emerging market global bond indices marks the end of nearly a decade of negotiations between the government and the international index provider, with the potential to draw inflows of more than $40 billion into Indian bonds over the next 18 months. On Thursday, JPMorgan Chase announced that 23 Indian government bonds, with a combined nominal value of $330 billion, have been found eligible to be added to the Global Bond Index Emerging Markets Index (GBI-EM). The bonds will be included in the indices over 10 months, starting 28 June 2024, with 1% weight being added per month, and is expected to reach the maximum weight of 10% by 31 March 2025.

government securities in the JP Morgan emerging market debt index has the potential of making the rupee stronger and reduce the government's borrowing costs, chief economic advisor in the finance ministry V Anantha Nageswaran told reporters on Friday. JP Morgan on Friday said it plans to include Indian government bonds, or government securities, in its benchmark emerging market index from June next year. The inclusion of government securities will be staggered over a 10-month period from 28 June 2024 to 31 March 2025, indicating one per cent increment on its index weight.

Indian government bonds in its Government Bond Index-Emerging Markets (GBI-EM) with effect from June 2024 says it all. Predictably, markets are elated, policy makers, circumspect. This is not surprising.

V Anantha Nageswaran on Friday. Global financial firm JP Morgan has said that it plans to include Indian government bonds or government securities (G-Secs) into its benchmark emerging market index from June, 2024, a move that will bring down borrowing costs for the government. Nageswaran said that there is no need to assume there would be increased volatility in the currency market due to the index inclusion.

Shares of Bank of Baroda(up 3.95 per cent), Punjab National Bank(up 3.33 per cent), IndusInd Bank Ltd.(up 2.94 per cent), State Bank of India(up 1.7 per cent) and Bandhan Bank Ltd.(up 1.56 per cent) ended the day as top gainers in the pack. On the other hand, HDFC Bank Ltd.(down 1.52 per cent) and ICICI Bank Ltd.(down 0.93 per cent) finished as the top losers of the day. The Nifty Bank index closed 0.03 per cent down at 44612.05. Benchmark NSE Nifty50 index ended down 68.1 points at 19674.25, while the BSE Sensex stood down 221.09 points at 66009.15. Among the 50 stocks in the Nifty index, 19 ended in the green, while 30 closed in the red. Shares of Vodafone Idea, IOB, JP Power, SJVN and YES Bank were among the most traded shares on the NSE. Shares of PNB Gilts, Nelcast, Sonu Infratech, HUDCO and IFCI hit their fresh 52-week highs in today's trade, while Yasons Chemex Care, Jiwanram Sheoduttrai, Jalan Transolutions, FutureLifestyleFash and Dangee Dums hit their fresh 52-week lows.