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cryptocurrency market experienced a notable surge on Thursday, buoyed by U.S. core inflation data that slightly exceeded expectations, diminishing hopes for a significant rate cut by the Federal Reserve next week. U.S. consumer prices edged up in August, with core inflation remaining somewhat persistent. The core Consumer Price Index (CPI) increased by 0.28% for the month, surpassing the anticipated 0.2% rise.

«Of course, structurally, we may see a higher interest rate compared to the history or the past, but still, they should be significantly lower from what they are today, at least 100 to 150 bps or maybe closer to 200 bps lower over the next 12-18 months so that is another very big positive,» says Sachin Shah, Emkay Investment Managers. First up, the market view itself because, of course, while a lot of people have been saying that we are toppish and the fundamentals perhaps are getting overshadowed by liquidity right now, what is your view on where the market momentum lies and what should we factor in for the market peak? Sachin Shah: I think it is getting kind of a consensus view that the valuations are getting a bit stretched, at least in some pockets of the market, particularly the smallcaps and midcap, those kind of things, and of course, the largecaps are much more reasonably valued.

ACC Ltd. traded 0.62 per cent up at Rs 2453.65 at around 01:43PM (IST) on Thursday. The stock had closed at Rs 2438.3 in the previous session. Equity benchmark Sensex traded 155.8 points higher at 81678.96 around the same time.

“We wish to inform you that M/s. Krishna Institute of Medical Sciences Limited (‘the Company’) has fixed Friday, September 13, 2024, as ‘Record Date’ to determine the eligibility of shareholders of the Company for Subdivision/split of 1 (One) equity share having face value of Rs.10/- (Rupees Ten Only) each, full paid-up, be subdivided into 5 (Five) equity shares having face value of Rs.2/- (Rupees Two only) each,” said the company in its filing to the exchanges.

Ruholamin Haqshanas is a contributing crypto writer for CryptoNews. He is a crypto and finance journalist with over four years of experience. Ruholamin has been featured in several high-profile crypto...

Bharat Forge Ltd. traded 1.46 per cent up in Thursday's trade at 11:30AM (IST). Around 2,887 shares changed hands on the counter. The counter opened at Rs 1564.0 and touched an intraday high and low of Rs 1584.4 and Rs 1564.0, respectively, in the session so far. Shares of the company of Bharat Forge Ltd. quoted a 52-week high of Rs 1826.2 and a 52-week low of Rs 1002.7.

«So, the second quadrant, which even debt or bond yields are on a quieter phase. The third area is about currencies. Again, you will find that globally, there is no major upheaval as far as currency grows,» says Atul Suri, Marathon Trends — PMS. Markets are looking slightly jammed and global volatility has kicked in. Are we in for a volatile and a tough second half of this calendar year? Atul Suri: Actually, I think that it is human nature to be worried about things and you can see the markets yesterday, what happened in the US, down 500-600 points on the same data, closed 100-200 points higher.

Ravindra Energy Ltd.(up 5.00%), Inox Wind Ltd.(up 3.72%), Inox Wind Energy Ltd.(up 2.86%), KEC International Ltd.(up 2.72%), GE Power India Ltd.(up 2.15%), GE T&D India Ltd.(up 1.92%), JSW Energy Ltd.(up 1.89%), Jyoti Structures Ltd.(up 1.87%), Gujarat Industries Power Company Ltd.(up 1.54%) and Torrent Power Ltd.(up 1.52%) were among the top gainers.

«I mean, for them, for the banking sector, the whole slowdown going towards the recession, if there is one, that is a negative, so that could have played into the banking sector selling off,» says Santosh Rao, Manhattan Venture Partners. More inflation and labour data, I guess that is what investors are bracing for. But how is it that you have read into the inflation print? And does it seem like a September rate cut is pretty much par for the course now? Santosh Rao: Yes, in fact, after today's data 25 basis points is par for the course now. But down the road, there is some chatter that he might continue to cut rates down the road, so maybe two or three, so that is good.

InterGlobe Aviation Ltd. traded 1.72 per cent up at Rs 4982.4 at 11:20AM (IST) on Thursday, even as BSE benchmark Sensex gained 273.38 points to 81796.54. The stock had closed at Rs 4897.8 in the previous session. The stock quoted a 52-week high and 52-week low of Rs 4987.5 and Rs 2334.95, respectively.

Indian rupee witnessed range-bound trade in the morning session on Thursday and appreciated by 2 paise to 83.97 against the US dollar, amid a positive trend in domestic equities and foreign fund inflows. Forex traders said the rupee continues to hold steady within a well-defined range on active intervention by the Reserve Bank of India (RBI). At the interbank foreign exchange market, the local unit moved in a narrow range. It opened at 83.97 against the American currency, registering a rise of 2 paise over its previous close.

Star Cement with a target price of Rs 257. The current market price of Star Cement Ltd. is Rs 209.9. Star Cement Ltd., incorporated in the year 2001, is a Mid Cap company (having a market cap of Rs 8443.73 Crore) operating in Cement sector.

Bharat Electronics Ltd. traded 0.76 per cent up at Rs 290.25 at 11:16AM (IST) on Thursday, even as BSE benchmark Sensex gained 225.31 points to 81748.47. The scrip had closed at Rs 288.05 in the previous session. The stock quoted a 52-week high and 52-week low of Rs 340.35 and Rs 127.0, respectively.

Varun Beverages surged 6% to an intra-day high of Rs 665.65 on BSE as the stock has started trading on an ex-split basis from today (Thursday), which was the record date fixed for the purpose of its 2:5 stock split. The shareholders whose names appear in the company's database on the record date, ie, September 12, are eligible for the said stock split.

Shriram Finance Ltd. rose 2.16 per cent to Rs 3352.05 in Thursday's trade as of 10:24AM (IST) even as the benchmark Nifty ruled at 25005.1, up 86.65 points. The scrip had closed at Rs 3281.1 in the previous session. The stock quoted a 52-week low of Rs 1760.9 and a high of Rs 3363.4. The company quoted a market-cap of Rs 125176.69 crore on the BSE.

Cholamandalam Investment & Finance Company Ltd. gained 2.33 per cent to Rs 1556.55 in Thursday's trade as of 10:15AM (IST). The stock hit a high price of Rs 1563.5 and low of Rs 1545.1 during the session. The return on equity (ROE) for the stock stood at 17.45 per cent. Traded volume on the counter stood at 10:15AM shares and turnover at Rs 2.47 crore around that time. The stock of Cholamandalam Investment & Finance Company Ltd. quoted a 52-week high price of Rs 1563.5 and 52-week low prices of Rs 1011.5, respectively.

Aarti Industries, Aditya Birla Fashion and Retail (ABFRL), Balrampur Chini, Bandhan Bank, Chambal Fertilizers & Chemicals, Hindustan Copper and RBL Bank. Meanwhile, Biocon has moved out of the ban.

Varun Beverages Ltd. traded 5.23 per cent up in Thursday's trade at 09:59AM (IST). Around 195,336 shares changed hands on the counter. The counter opened at Rs 640.15 and touched an intraday high and low of Rs 665.65 and Rs 636.15, respectively, in the session so far. The stock of Varun Beverages Ltd. quoted a 52-week high of Rs 682.84 and a 52-week low of Rs 331.28.

ACC with a target price of Rs 2933. The current market price of ACC Ltd. is Rs 2438.4. ACC Ltd., incorporated in the year 1936, is a Large Cap company (having a market cap of Rs 45896.15 Crore) operating in Cement sector.

Call writing is observed at 25,000 and 25,100 strikes, whereas Put writing is seen at 24,500 and 24,700 strikes.

«Now for FY25, the earnings estimates are still in the range of about 10% to 12% which means that for the second half of the year earnings needs to pick up especially coinciding with the festive season, so there is an expectation of earnings improvement going into the second half of the year and that needs to play out for our markets,» says Shibani Sircar Kurian, Kotak Mahindra AMC It is a day when you would have said that everything was right for India, crude is down, FIIs have started buying, global cues were decent, yet markets are showing tremendous signs of fatigue and keep Nifty out of this situation, the breadth has been rather poor actually. Shibani Sircar Kurian: So, of course, our markets have had a great run. Markets have outperformed the emerging market pack by a mile. But like you rightly pointed out that if you look at the fundamentals of the market, whether it be in terms of macro or earnings, they are largely where we were and largely stable.