September 13, 2024
New Delhi, India
Stock Market LIVE
The BSE Sensex and Nifty 50 traded in a tight range on Friday as investors remained cautious ahead of the Federal Reserve’s FOMC meeting scheduled for next week. The markets swung between gains and losses following a strong rally to all-time highs in the previous session, with the Sensex ending 72 points lower at 82,890 and the Nifty 50 closing below 25,400 at 25,356 down 32 Pts.
Key Movers:
- Wipro: Gained 4%
- Zomato: Dropped 4%
- Godfrey Phillips: Jumped nearly 10%
- SpiceJet, Bandhan Bank: Traded at day’s highs
- RIL: Set September 20 as the last date for paying call money
- Zee: Climbed as NCLT approved the recall of the Sony merger
Sector Performance:
- Gains: Nifty PSU Bank rose over 1%, metals gained 1%, adding to the nearly 3% rise in the previous session.
- Losses: FMCG and oil & gas sectors were in the red.
India’s Retail Inflation Rises to 3.65% in August, Stays Below RBI’s 4% Target
Global Market Sentiment:
The market mood was influenced by expectations of a potential 50-basis-point rate cut by the Federal Reserve next week. The CME FedWatch Tool showed the likelihood of such a cut had surged to 41% from 14% a day ago.
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Global Indices:
- MSCI Asia-Pacific (ex-Japan): Up 0.53%
- STOXX 600 (Europe): Rose 0.4%, heading for a 2.6% weekly gain.
Commodities Update:
- Gold: Hit a record high of $2,570 per ounce, up 2.8% for the week.
- Oil: West Texas Intermediate crude futures rose to $69.32 a barrel, Brent crude futures climbed to $72.30 a barrel.
Currency and Bonds:
- US Dollar: Dropped to its lowest against the yen this year, down 0.77% at 140.68 yen.
- Treasury Yields: 10-year yields fell to 3.638%, while 2-year yields dropped to 3.585%.
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