As per provisional closing data, the barometer index, the S&P BSE Sensex shed 14.57 points or 0.02% to 84,914.04. The Nifty 50 index rose 1.35 points or 0.01% to 25,940.40.
The Sensex and Nifty clocked an all-time high of 85,163.23 and 26,011.55, respectively in late trade.
In the broader market, the S&P BSE Mid-Cap index added 0.21% and the S&P BSE Small-Cap index shed 0.04%.
The S&P BSE Small-Cap index and S&P BSE Mid-Cap index hit an all-time high at 57,728.08 and 49,701.15, respectively.
The market breadth was negative. On the BSE, 1,933 shares rose and 2,044 shares fell. A total of 99 shares were unchanged.
The NSE’s India VIX, a gauge of the market’s expectation of volatility over the near term, slipped 3.08% to 13.36.
New Listing:
Shares of Northern Arc Capital settled at Rs 323.60 on the BSE, representing a premium of 23.04% as compared with the issue price of Rs 263.
The scrip was listed at Rs 351, exhibiting a premium of 33.46% to the issue price.
The stock has hit a high of 351 and a low of 308.15. On the BSE, over 34.06 lakh shares of the company were traded in the counter.
Shares of Arkade Developers settled at Rs 165.85 on the BSE, representing a premium of 29.57% as compared with the issue price of Rs 128.
The scrip was listed at Rs 175.90, exhibiting a premium of 37.42% to the issue price.
The stock has hit a high of 190 and a low of 164.70. On the BSE, over 45.14 lakh shares of the company were traded in the counter.
Shares of Western Carriers (India) settled at Rs 159.45 on the BSE, representing a discount of 7.30% as compared with the issue price of Rs 172.
The scrip was listed at Rs 170, exhibiting a discount of 1.16% to the issue price.
The stock has hit a high of 177 and a low of 158.50. On the BSE, over 17.41 lakh shares of the company were traded in the counter.
IPO Update :
The initial public offer (IPO) of Manba Finance received 52,41,64,625 bids for shares as against 87,99,000 shares on offer, according to stock exchange data at 15:15 IST on Tuesday (24 September 2024). The issue was subscribed 59.57 times.
The issue opened for bidding on Monday (23 September 2024) and it will close on Wednesday (25 September 2024). The price band of the IPO is fixed between Rs 114 to Rs 120 per share. An investor can bid for a minimum of 125 equity shares and in multiples thereof.
Buzzing Index:
The Nifty Metal index jumped 2.97% to 9,735.40. The index jumped 5.23% in three consecutive trading sessions.
National Aluminium Company (up 6.52%), Tata Steel (up 4.31%), Welspun Corp (up 4.26%), NMDC (up 4%), Hindalco Industries (up 3.96%), APL Apollo Tubes (up 3.79%), Vedanta (up 3.79%), Hindustan Copper (up 3.36%), Steel Authority of India (up 3.18%) and Jindal Steel & Power (up 1.87%) advanced.
Stocks in Spotlight:
Power Grid Corporation of India advanced 2.70% after the company received a Letter of Intent (LoI) to establish an inter-state transmission system at Khavda pooling station in Gujarat, under BOOT basis.
Larsen & Toubro (L&T) rose 0.15%. The companys power transmission & distribution (PT&D) vertical business secured Mega order in the Middle East for expanding and strengthening the electricity grids at high voltage level.
Coal India added 0.73%. The firm informed that it has entered into a joint venture agreement (JV) with Rajasthan Rajya Vidyut Utpadan Nigam (RRUVNL) to establish brownfield thermal power project in Rajasthan. The companys purpose of this agreement is to establish 2×800 MW brownfield thermal power project in RRUVNL’s existing Kalisindh thermal power station. Additionally, the company intends to undertake any other thermal power related projects and engage in renewable energy business in Rajasthan.
Punjab National Bank slipped 3.18%. The company informed that its board has approved the opening of qualified institutional placement (QIP) of equity shares with the floor price of Rs 109.16 per share.
Indian Energy Exchange (IEX) slumped 10.30% to Rs 214.60, triggered by the media reports suggesting that the government is considering implementing market coupling for power exchanges in the country.
Sterling and Wilson Renewable Energy declined 2.68%. The company announced that it has received two new domestic orders from private independent power producers (IPPs) valued at approximately Rs 512 crore.
G R Infraprojects rose 1.18% after the company said that it has emerged as lowest bidder (L-1) for a metro project worth Rs 903.534 crore awarded by Maharashtra Metro Rail Corporation, Nagpur (MMRC).
JTL Industries surged 8.46% after the companys board will meet on 3 October 2024 to consider sub-division/split of equity shares having face value of Rs 2 each.
Spandana Sphoorty Financial added 0.45%. The companys board has approved a proposal to sell the stressed loan portfolio of the company to an asset reconstruction company (ARC) for Rs 16.74 crore.
Exxaro Tiles hit an upper circuit of 20% after the company announced that its board will meet on Monday, 14 October 2024, to consider a proposal for the sub-division / split of equity shares of the company.
Firstsource Solutions jumped 6.40% after the company announced the acquisition of 100% stake in UK-based Ascensos for a consideration of GBP 42 million.
Global Markets:
European and Asian stocks advanced on Tuesday after Beijing announced a slew of policy easing measures in a rare briefing from central bank governor, Pan Gongsheng. The PBOC will cut the reserve requirement ratio for banks by 50 basis points, although it did not provide a specific timeline. It also announced it would cut the seven-day reverse repurchase rate from 1.7% to 1.5%.
The Wall Street ended higher on Tuesday, buoyed by hints from Federal Reserve policymakers suggesting further interest rate cuts.
Investors are now eagerly awaiting the release of the Federal Reserve’s preferred inflation gauge and US personal spending data on Friday.
In Asia, speculation has intensified that Beijing is preparing to ramp up efforts to revive its economy. On Monday, Chinese authorities announced that central bank chief Pan Gongsheng would hold a press conference on Tuesday to discuss financial support for economic development. Shortly after, the People’s Bank of China lowered the 14-day reverse repurchase rate, aligning with reductions implemented in July.
Meanwhile, Japan’s manufacturing activity contracted more than expected in September due to ongoing production disruptions faced by major automakers. However, the services sector saw growth driven by strong consumer demand. The au Jibun Bank manufacturing purchasing managers index fell to 49.6 in early-September, indicating contraction for the third consecutive month.
In the United States, equities managed a slight gain Monday as traders analyzed comments from Federal Reserve policymakers and perceived room for further easing following the recent half-point interest rate cut. The S&P 500 rose by 0.28%, the Dow Jones Industrial Average (+0.15%) closed at a record high, and the Nasdaq 100 increased by 0.14%.
Powered by Capital Market – Live News
Disclaimer: No Business Standard Journalist was involved in creation of this content
As per provisional closing data, the barometer index, the S&P BSE Sensex shed 14.57 points or 0.02% to 84,914.04. The Nifty 50 index rose 1.35 points or 0.01% to 25,940.40.
The Sensex and Nifty clocked an all-time high of 85,163.23 and 26,011.55, respectively in late trade.
In the broader market, the S&P BSE Mid-Cap index added 0.21% and the S&P BSE Small-Cap index shed 0.04%.
The S&P BSE Small-Cap index and S&P BSE Mid-Cap index hit an all-time high at 57,728.08 and 49,701.15, respectively.
The market breadth was negative. On the BSE, 1,933 shares rose and 2,044 shares fell. A total of 99 shares were unchanged.
The NSE’s India VIX, a gauge of the market’s expectation of volatility over the near term, slipped 3.08% to 13.36.
New Listing:
Shares of Northern Arc Capital settled at Rs 323.60 on the BSE, representing a premium of 23.04% as compared with the issue price of Rs 263.
The scrip was listed at Rs 351, exhibiting a premium of 33.46% to the issue price.
The stock has hit a high of 351 and a low of 308.15. On the BSE, over 34.06 lakh shares of the company were traded in the counter.
Shares of Arkade Developers settled at Rs 165.85 on the BSE, representing a premium of 29.57% as compared with the issue price of Rs 128.
The scrip was listed at Rs 175.90, exhibiting a premium of 37.42% to the issue price.
The stock has hit a high of 190 and a low of 164.70. On the BSE, over 45.14 lakh shares of the company were traded in the counter.
Shares of Western Carriers (India) settled at Rs 159.45 on the BSE, representing a discount of 7.30% as compared with the issue price of Rs 172.
The scrip was listed at Rs 170, exhibiting a discount of 1.16% to the issue price.
The stock has hit a high of 177 and a low of 158.50. On the BSE, over 17.41 lakh shares of the company were traded in the counter.
IPO Update :
The initial public offer (IPO) of Manba Finance received 52,41,64,625 bids for shares as against 87,99,000 shares on offer, according to stock exchange data at 15:15 IST on Tuesday (24 September 2024). The issue was subscribed 59.57 times.
The issue opened for bidding on Monday (23 September 2024) and it will close on Wednesday (25 September 2024). The price band of the IPO is fixed between Rs 114 to Rs 120 per share. An investor can bid for a minimum of 125 equity shares and in multiples thereof.
Buzzing Index:
The Nifty Metal index jumped 2.97% to 9,735.40. The index jumped 5.23% in three consecutive trading sessions.
National Aluminium Company (up 6.52%), Tata Steel (up 4.31%), Welspun Corp (up 4.26%), NMDC (up 4%), Hindalco Industries (up 3.96%), APL Apollo Tubes (up 3.79%), Vedanta (up 3.79%), Hindustan Copper (up 3.36%), Steel Authority of India (up 3.18%) and Jindal Steel & Power (up 1.87%) advanced.
Stocks in Spotlight:
Power Grid Corporation of India advanced 2.70% after the company received a Letter of Intent (LoI) to establish an inter-state transmission system at Khavda pooling station in Gujarat, under BOOT basis.
Larsen & Toubro (L&T) rose 0.15%. The companys power transmission & distribution (PT&D) vertical business secured Mega order in the Middle East for expanding and strengthening the electricity grids at high voltage level.
Coal India added 0.73%. The firm informed that it has entered into a joint venture agreement (JV) with Rajasthan Rajya Vidyut Utpadan Nigam (RRUVNL) to establish brownfield thermal power project in Rajasthan. The companys purpose of this agreement is to establish 2×800 MW brownfield thermal power project in RRUVNL’s existing Kalisindh thermal power station. Additionally, the company intends to undertake any other thermal power related projects and engage in renewable energy business in Rajasthan.
Punjab National Bank slipped 3.18%. The company informed that its board has approved the opening of qualified institutional placement (QIP) of equity shares with the floor price of Rs 109.16 per share.
Indian Energy Exchange (IEX) slumped 10.30% to Rs 214.60, triggered by the media reports suggesting that the government is considering implementing market coupling for power exchanges in the country.
Sterling and Wilson Renewable Energy declined 2.68%. The company announced that it has received two new domestic orders from private independent power producers (IPPs) valued at approximately Rs 512 crore.
G R Infraprojects rose 1.18% after the company said that it has emerged as lowest bidder (L-1) for a metro project worth Rs 903.534 crore awarded by Maharashtra Metro Rail Corporation, Nagpur (MMRC).
JTL Industries surged 8.46% after the companys board will meet on 3 October 2024 to consider sub-division/split of equity shares having face value of Rs 2 each.
Spandana Sphoorty Financial added 0.45%. The companys board has approved a proposal to sell the stressed loan portfolio of the company to an asset reconstruction company (ARC) for Rs 16.74 crore.
Exxaro Tiles hit an upper circuit of 20% after the company announced that its board will meet on Monday, 14 October 2024, to consider a proposal for the sub-division / split of equity shares of the company.
Firstsource Solutions jumped 6.40% after the company announced the acquisition of 100% stake in UK-based Ascensos for a consideration of GBP 42 million.
Global Markets:
European and Asian stocks advanced on Tuesday after Beijing announced a slew of policy easing measures in a rare briefing from central bank governor, Pan Gongsheng. The PBOC will cut the reserve requirement ratio for banks by 50 basis points, although it did not provide a specific timeline. It also announced it would cut the seven-day reverse repurchase rate from 1.7% to 1.5%.
The Wall Street ended higher on Tuesday, buoyed by hints from Federal Reserve policymakers suggesting further interest rate cuts.
Investors are now eagerly awaiting the release of the Federal Reserve’s preferred inflation gauge and US personal spending data on Friday.
In Asia, speculation has intensified that Beijing is preparing to ramp up efforts to revive its economy. On Monday, Chinese authorities announced that central bank chief Pan Gongsheng would hold a press conference on Tuesday to discuss financial support for economic development. Shortly after, the People’s Bank of China lowered the 14-day reverse repurchase rate, aligning with reductions implemented in July.
Meanwhile, Japan’s manufacturing activity contracted more than expected in September due to ongoing production disruptions faced by major automakers. However, the services sector saw growth driven by strong consumer demand. The au Jibun Bank manufacturing purchasing managers index fell to 49.6 in early-September, indicating contraction for the third consecutive month.
In the United States, equities managed a slight gain Monday as traders analyzed comments from Federal Reserve policymakers and perceived room for further easing following the recent half-point interest rate cut. The S&P 500 rose by 0.28%, the Dow Jones Industrial Average (+0.15%) closed at a record high, and the Nasdaq 100 increased by 0.14%.
Powered by Capital Market – Live News
Disclaimer: No Business Standard Journalist was involved in creation of this content
As per provisional closing data, the barometer index, the S&P BSE Sensex shed 14.57 points or 0.02% to 84,914.04. The Nifty 50 index rose 1.35 points or 0.01% to 25,940.40.
The Sensex and Nifty clocked an all-time high of 85,163.23 and 26,011.55, respectively in late trade.
In the broader market, the S&P BSE Mid-Cap index added 0.21% and the S&P BSE Small-Cap index shed 0.04%.
The S&P BSE Small-Cap index and S&P BSE Mid-Cap index hit an all-time high at 57,728.08 and 49,701.15, respectively.
The market breadth was negative. On the BSE, 1,933 shares rose and 2,044 shares fell. A total of 99 shares were unchanged.
The NSE’s India VIX, a gauge of the market’s expectation of volatility over the near term, slipped 3.08% to 13.36.
New Listing:
Shares of Northern Arc Capital settled at Rs 323.60 on the BSE, representing a premium of 23.04% as compared with the issue price of Rs 263.
The scrip was listed at Rs 351, exhibiting a premium of 33.46% to the issue price.
The stock has hit a high of 351 and a low of 308.15. On the BSE, over 34.06 lakh shares of the company were traded in the counter.
Shares of Arkade Developers settled at Rs 165.85 on the BSE, representing a premium of 29.57% as compared with the issue price of Rs 128.
The scrip was listed at Rs 175.90, exhibiting a premium of 37.42% to the issue price.
The stock has hit a high of 190 and a low of 164.70. On the BSE, over 45.14 lakh shares of the company were traded in the counter.
Shares of Western Carriers (India) settled at Rs 159.45 on the BSE, representing a discount of 7.30% as compared with the issue price of Rs 172.
The scrip was listed at Rs 170, exhibiting a discount of 1.16% to the issue price.
The stock has hit a high of 177 and a low of 158.50. On the BSE, over 17.41 lakh shares of the company were traded in the counter.
IPO Update :
The initial public offer (IPO) of Manba Finance received 52,41,64,625 bids for shares as against 87,99,000 shares on offer, according to stock exchange data at 15:15 IST on Tuesday (24 September 2024). The issue was subscribed 59.57 times.
The issue opened for bidding on Monday (23 September 2024) and it will close on Wednesday (25 September 2024). The price band of the IPO is fixed between Rs 114 to Rs 120 per share. An investor can bid for a minimum of 125 equity shares and in multiples thereof.
Buzzing Index:
The Nifty Metal index jumped 2.97% to 9,735.40. The index jumped 5.23% in three consecutive trading sessions.
National Aluminium Company (up 6.52%), Tata Steel (up 4.31%), Welspun Corp (up 4.26%), NMDC (up 4%), Hindalco Industries (up 3.96%), APL Apollo Tubes (up 3.79%), Vedanta (up 3.79%), Hindustan Copper (up 3.36%), Steel Authority of India (up 3.18%) and Jindal Steel & Power (up 1.87%) advanced.
Stocks in Spotlight:
Power Grid Corporation of India advanced 2.70% after the company received a Letter of Intent (LoI) to establish an inter-state transmission system at Khavda pooling station in Gujarat, under BOOT basis.
Larsen & Toubro (L&T) rose 0.15%. The companys power transmission & distribution (PT&D) vertical business secured Mega order in the Middle East for expanding and strengthening the electricity grids at high voltage level.
Coal India added 0.73%. The firm informed that it has entered into a joint venture agreement (JV) with Rajasthan Rajya Vidyut Utpadan Nigam (RRUVNL) to establish brownfield thermal power project in Rajasthan. The companys purpose of this agreement is to establish 2×800 MW brownfield thermal power project in RRUVNL’s existing Kalisindh thermal power station. Additionally, the company intends to undertake any other thermal power related projects and engage in renewable energy business in Rajasthan.
Punjab National Bank slipped 3.18%. The company informed that its board has approved the opening of qualified institutional placement (QIP) of equity shares with the floor price of Rs 109.16 per share.
Indian Energy Exchange (IEX) slumped 10.30% to Rs 214.60, triggered by the media reports suggesting that the government is considering implementing market coupling for power exchanges in the country.
Sterling and Wilson Renewable Energy declined 2.68%. The company announced that it has received two new domestic orders from private independent power producers (IPPs) valued at approximately Rs 512 crore.
G R Infraprojects rose 1.18% after the company said that it has emerged as lowest bidder (L-1) for a metro project worth Rs 903.534 crore awarded by Maharashtra Metro Rail Corporation, Nagpur (MMRC).
JTL Industries surged 8.46% after the companys board will meet on 3 October 2024 to consider sub-division/split of equity shares having face value of Rs 2 each.
Spandana Sphoorty Financial added 0.45%. The companys board has approved a proposal to sell the stressed loan portfolio of the company to an asset reconstruction company (ARC) for Rs 16.74 crore.
Exxaro Tiles hit an upper circuit of 20% after the company announced that its board will meet on Monday, 14 October 2024, to consider a proposal for the sub-division / split of equity shares of the company.
Firstsource Solutions jumped 6.40% after the company announced the acquisition of 100% stake in UK-based Ascensos for a consideration of GBP 42 million.
Global Markets:
European and Asian stocks advanced on Tuesday after Beijing announced a slew of policy easing measures in a rare briefing from central bank governor, Pan Gongsheng. The PBOC will cut the reserve requirement ratio for banks by 50 basis points, although it did not provide a specific timeline. It also announced it would cut the seven-day reverse repurchase rate from 1.7% to 1.5%.
The Wall Street ended higher on Tuesday, buoyed by hints from Federal Reserve policymakers suggesting further interest rate cuts.
Investors are now eagerly awaiting the release of the Federal Reserve’s preferred inflation gauge and US personal spending data on Friday.
In Asia, speculation has intensified that Beijing is preparing to ramp up efforts to revive its economy. On Monday, Chinese authorities announced that central bank chief Pan Gongsheng would hold a press conference on Tuesday to discuss financial support for economic development. Shortly after, the People’s Bank of China lowered the 14-day reverse repurchase rate, aligning with reductions implemented in July.
Meanwhile, Japan’s manufacturing activity contracted more than expected in September due to ongoing production disruptions faced by major automakers. However, the services sector saw growth driven by strong consumer demand. The au Jibun Bank manufacturing purchasing managers index fell to 49.6 in early-September, indicating contraction for the third consecutive month.
In the United States, equities managed a slight gain Monday as traders analyzed comments from Federal Reserve policymakers and perceived room for further easing following the recent half-point interest rate cut. The S&P 500 rose by 0.28%, the Dow Jones Industrial Average (+0.15%) closed at a record high, and the Nasdaq 100 increased by 0.14%.
Powered by Capital Market – Live News
Disclaimer: No Business Standard Journalist was involved in creation of this content
As per provisional closing data, the barometer index, the S&P BSE Sensex shed 14.57 points or 0.02% to 84,914.04. The Nifty 50 index rose 1.35 points or 0.01% to 25,940.40.
The Sensex and Nifty clocked an all-time high of 85,163.23 and 26,011.55, respectively in late trade.
In the broader market, the S&P BSE Mid-Cap index added 0.21% and the S&P BSE Small-Cap index shed 0.04%.
The S&P BSE Small-Cap index and S&P BSE Mid-Cap index hit an all-time high at 57,728.08 and 49,701.15, respectively.
The market breadth was negative. On the BSE, 1,933 shares rose and 2,044 shares fell. A total of 99 shares were unchanged.
The NSE’s India VIX, a gauge of the market’s expectation of volatility over the near term, slipped 3.08% to 13.36.
New Listing:
Shares of Northern Arc Capital settled at Rs 323.60 on the BSE, representing a premium of 23.04% as compared with the issue price of Rs 263.
The scrip was listed at Rs 351, exhibiting a premium of 33.46% to the issue price.
The stock has hit a high of 351 and a low of 308.15. On the BSE, over 34.06 lakh shares of the company were traded in the counter.
Shares of Arkade Developers settled at Rs 165.85 on the BSE, representing a premium of 29.57% as compared with the issue price of Rs 128.
The scrip was listed at Rs 175.90, exhibiting a premium of 37.42% to the issue price.
The stock has hit a high of 190 and a low of 164.70. On the BSE, over 45.14 lakh shares of the company were traded in the counter.
Shares of Western Carriers (India) settled at Rs 159.45 on the BSE, representing a discount of 7.30% as compared with the issue price of Rs 172.
The scrip was listed at Rs 170, exhibiting a discount of 1.16% to the issue price.
The stock has hit a high of 177 and a low of 158.50. On the BSE, over 17.41 lakh shares of the company were traded in the counter.
IPO Update :
The initial public offer (IPO) of Manba Finance received 52,41,64,625 bids for shares as against 87,99,000 shares on offer, according to stock exchange data at 15:15 IST on Tuesday (24 September 2024). The issue was subscribed 59.57 times.
The issue opened for bidding on Monday (23 September 2024) and it will close on Wednesday (25 September 2024). The price band of the IPO is fixed between Rs 114 to Rs 120 per share. An investor can bid for a minimum of 125 equity shares and in multiples thereof.
Buzzing Index:
The Nifty Metal index jumped 2.97% to 9,735.40. The index jumped 5.23% in three consecutive trading sessions.
National Aluminium Company (up 6.52%), Tata Steel (up 4.31%), Welspun Corp (up 4.26%), NMDC (up 4%), Hindalco Industries (up 3.96%), APL Apollo Tubes (up 3.79%), Vedanta (up 3.79%), Hindustan Copper (up 3.36%), Steel Authority of India (up 3.18%) and Jindal Steel & Power (up 1.87%) advanced.
Stocks in Spotlight:
Power Grid Corporation of India advanced 2.70% after the company received a Letter of Intent (LoI) to establish an inter-state transmission system at Khavda pooling station in Gujarat, under BOOT basis.
Larsen & Toubro (L&T) rose 0.15%. The companys power transmission & distribution (PT&D) vertical business secured Mega order in the Middle East for expanding and strengthening the electricity grids at high voltage level.
Coal India added 0.73%. The firm informed that it has entered into a joint venture agreement (JV) with Rajasthan Rajya Vidyut Utpadan Nigam (RRUVNL) to establish brownfield thermal power project in Rajasthan. The companys purpose of this agreement is to establish 2×800 MW brownfield thermal power project in RRUVNL’s existing Kalisindh thermal power station. Additionally, the company intends to undertake any other thermal power related projects and engage in renewable energy business in Rajasthan.
Punjab National Bank slipped 3.18%. The company informed that its board has approved the opening of qualified institutional placement (QIP) of equity shares with the floor price of Rs 109.16 per share.
Indian Energy Exchange (IEX) slumped 10.30% to Rs 214.60, triggered by the media reports suggesting that the government is considering implementing market coupling for power exchanges in the country.
Sterling and Wilson Renewable Energy declined 2.68%. The company announced that it has received two new domestic orders from private independent power producers (IPPs) valued at approximately Rs 512 crore.
G R Infraprojects rose 1.18% after the company said that it has emerged as lowest bidder (L-1) for a metro project worth Rs 903.534 crore awarded by Maharashtra Metro Rail Corporation, Nagpur (MMRC).
JTL Industries surged 8.46% after the companys board will meet on 3 October 2024 to consider sub-division/split of equity shares having face value of Rs 2 each.
Spandana Sphoorty Financial added 0.45%. The companys board has approved a proposal to sell the stressed loan portfolio of the company to an asset reconstruction company (ARC) for Rs 16.74 crore.
Exxaro Tiles hit an upper circuit of 20% after the company announced that its board will meet on Monday, 14 October 2024, to consider a proposal for the sub-division / split of equity shares of the company.
Firstsource Solutions jumped 6.40% after the company announced the acquisition of 100% stake in UK-based Ascensos for a consideration of GBP 42 million.
Global Markets:
European and Asian stocks advanced on Tuesday after Beijing announced a slew of policy easing measures in a rare briefing from central bank governor, Pan Gongsheng. The PBOC will cut the reserve requirement ratio for banks by 50 basis points, although it did not provide a specific timeline. It also announced it would cut the seven-day reverse repurchase rate from 1.7% to 1.5%.
The Wall Street ended higher on Tuesday, buoyed by hints from Federal Reserve policymakers suggesting further interest rate cuts.
Investors are now eagerly awaiting the release of the Federal Reserve’s preferred inflation gauge and US personal spending data on Friday.
In Asia, speculation has intensified that Beijing is preparing to ramp up efforts to revive its economy. On Monday, Chinese authorities announced that central bank chief Pan Gongsheng would hold a press conference on Tuesday to discuss financial support for economic development. Shortly after, the People’s Bank of China lowered the 14-day reverse repurchase rate, aligning with reductions implemented in July.
Meanwhile, Japan’s manufacturing activity contracted more than expected in September due to ongoing production disruptions faced by major automakers. However, the services sector saw growth driven by strong consumer demand. The au Jibun Bank manufacturing purchasing managers index fell to 49.6 in early-September, indicating contraction for the third consecutive month.
In the United States, equities managed a slight gain Monday as traders analyzed comments from Federal Reserve policymakers and perceived room for further easing following the recent half-point interest rate cut. The S&P 500 rose by 0.28%, the Dow Jones Industrial Average (+0.15%) closed at a record high, and the Nasdaq 100 increased by 0.14%.
Powered by Capital Market – Live News
Disclaimer: No Business Standard Journalist was involved in creation of this content
