Stock Market Live Updates: Nifty Closed Below 25,400 Mark, Sensex Down Over 200 Pts

After reaching a record high in the afternoon deals, the Indian benchmark indices witnessed sell-off pressure and closed on a negative note on Wednesday. Nifty 50 closed below the 25,400 mark at 25,377.55 level while Sensex ended 210.45 points lower at 82,869.21 mark.

The 30-scrip benchmark Sensex touched new lifetime high of 83,310.32, while 50-scrip benchmark hit touched fresh all-time high 25,478.60.

Market continued the rally ahead of US Federal Reserve's policy meeting, where either 25 bps or 50 bps cut is expected from the FOMC led by Jerome Powell.

A former New York Fed President recently suggested that the FOMC should begin its easing cycle with a 50 basis points cut, citing potential benefits to stabilizing the economy. However, Wall Street remains divided on the matter.

As the market awaits the Fed decision, Wednesday's weekly expiry for Nifty Bank will keep this now-outperforming sector in the spotlight.

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Sep 18, 2024, 3:20 pm IST

Tata Power Renewable Energy Bags 400 MW Hybrid Project From MSEDCL

The Maharashtra State Electricity Distribution Company Limited (MSEDCL), a wholly owned entity under the Maharashtra Government, has successfully awarded a Letter of Award (LoA) to Tata Power Renewable Energy Limited (TPREL), a subsidiary of The Tata Power Company Limited (Tata Power), for the development of a 400 MW Wind-Solar Hybrid project in Maharashtra. This is the largest renewable energy project for TPREL in the state of Maharashtra to date, with a 200 MW contractual capacity and a greenshoe option for an additional 200 MW contracted capacity included in the LoA.

Sep 18, 2024, 2:30 pm IST

Lupin Share Price In Focus

The multinational pharmaceutical giant Lupin Limited (Lupin) has announced that it and Takeda Pharmaceutical Company Limited (Takeda) have reached a non-exclusive patent license agreement for the commercialisation of Vonoprazan Tablets in the Indian market. The drug comes in two dosages (10 mg and 20 mg) and will be sold under the brand name Lupin's Lupivon®.

Sep 18, 2024, 2:09 pm IST

Bharti Airtel Shares In Focus

Today, Bharti Airtel declared that the additional spectrum it acquired in July 2024 has been fully deployed. Airtel's 5G/4G network capacity will increase with the deployment of an extra 5MHz on the 1800 band. This will improve and enhance data speeds and offer noticeably more coverage inside buildings and homes. With the completion of the extra spectrum deployment, customers in Kolkata, Greater Kolkata, Howrah, and Hooghly will experience enhanced voice and data quality.

Sep 18, 2024, 1:32 pm IST

Care Hospitals Nears Reverse Merger with Aster DM Healthcare, Set for Market Listing

Private equity firm Blackstone-owned Care Hospitals is reportedly in advanced discussions for a reverse merger with Dr. Azad Moopen's Aster DM Healthcare Limited, according to sources familiar with the matter. The transaction is expected to result in Care Hospitals being listed on the stock exchanges, as reported by Moneycontrol. Currently, Care Hospitals is in the final stages of conducting due diligence on Aster DM, and work on documentation for a shareholders' agreement is anticipated to commence shortly, the report added.

Sep 18, 2024, 1:25 pm IST

Top 5 Gainers and Losers Today

Stock Market Live Updates

Sep 18, 2024, 12:30 pm IST

Nifty IT index dipped 3%

The index has nosedived by 1,211.50 points or 2.8% to trade at 42,203.50. All stocks are down with stocks like Mphasis, TCS, LTTS, Persistent System, Tech Mahindra, Infosys, Coforge, and WIPRO dropped by 2-5.5%.

Sep 18, 2024, 11:39 am IST

Intellect Launches eMACH.ai WealthForce.AI In The Middle East region

IntellectAI announced the launch of its cutting-edge wealth platform, WealthForce.AI, for the Middle East market. Composed on eMACH.ai, this transformative platform is designed to empower Relationship Managers (RMs) by leveraging Artificial Intelligence (AI) and advanced data analytics to achieve hyper personalisation and hyper-automation, ultimately delivering unparalleled customer experiences. WealthForce.AI is built on eMACH.ai standards—Event-driven, Microservices-enabled, API-led, Cloudnative, and Headless—making it a truly scalable and future-ready solution. By embedding AI at its core, the platform automates routine tasks and enhances decision-making, allowing RMs to deliver hyper personalised, data-driven advice resonating with each customer’s unique financial goals. The solution also integrates Generative AI tools, which take RM-client conversations to the next level by providing intelligent, context-rich insights during advisory interactions

Sep 18, 2024, 11:11 am IST

India Gold Prices Drop For Second Consecutive Day On September 18, 2024

India gold prices today per 10 grams of 24-carat gold are Rs. 74,730/- and similarly, gold rates in India today for 22-carat are Rs. 68,500/- per 10 grams. Today yellow metal prices slipped by Rs. 160/- and Rs. 150/- per 10 grams for both pure gold and standard gold respectively.

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Sep 18, 2024, 10:45 am IST

INOXGFL Group’s Privately Held IPP Platform, IGREL Renewables Raises Rs 300 Cr Equity Capital From Marquee Investors

INOXGFL Group, one of India’s leading business groups, announced today that its privately held renewable power generation platform, IGREL Renewables Ltd., has raised Rs 300 crore equity capital, eventually resulting in a single digit dilution. The capital raise witnessed participation by marquee investors, including Mr. Akash Bhansali, Mr. Rohit Kothari, and Mr. Madhusudan Kela, through their respective entities. IGREL Renewables, backed by the INOXGFL Group which has an unparalleled experience of building large businesses, aims to become one of India’s premier renewable power generation platforms. The company targets to reach an installed capacity of 2 GW by FY27 (combination of wind and solar) at a cumulative capex of ~ Rs 12,000 crores. IGREL has already placed firm orders for 200 MW and has signed an additional 550 MW LoI wih Inox Wind today for wind capacities to be executed on turnkey basis.

Sep 18, 2024, 10:23 am IST

Reliance Infrastructure Ltd. Reduces Its Standalone External Debt From INR 3,831 cr To INR 475 cr

Reliance Infrastructure Limited (Reliance Infra) announced that Invent Assets Securitisation and Reconstruction Private Limited, a lender to the Company, has novated certain charged securities to recover its dues. As a result, Invent ARC's entire fund based outstanding amount has been reduced to Zero. Additionally, Reliance Infra has cleared its funded outstanding dues to Life Insurance Corporation of India, Edelweiss Asset Reconstruction Company Limited, ICICI Bank, Union Bank, and other lenders. The Company’s external debt liability is down to INR 475 crore. Consequently, the net worth of the Company will stand at INR 9,041 crore.

Sep 18, 2024, 10:05 am IST

IGREL Renewables Ltd. Enters Into LoI With Inox Wind

Inox Wind Limited (IWL) has received a Letter of Intent (LoI) from IGREL Renewables Ltd (IGREL) for execution of 550 MW wind capacity on turnkey basis. As part of the project, Inox Wind will supply, install and commission the Wind Turbine Generators (WTGs), and provide multi-year comprehensive operations & maintenance (O&M) services post commissioning. The project will be executed over the next 24 months across multiple sites in the states of Gujarat, Rajasthan and Madhya Pradesh. The 550 MW LoI is over and above the firm order of 200 MW received in the past, and takes IWL’s orderbook to > 3.5 GW.

Sep 18, 2024, 9:41 am IST

Torrent Power Secures LoI for 1,500 MW Energy Storage Project

Torrent Power has received a Letter of Intent (LoI) from Maharashtra State Electricity Distribution Co. to procure 1,500 MW of energy storage capacity. This capacity will come from a pumped hydro storage project, with the agreement set to last for 40 years.

Sep 18, 2024, 9:22 am IST

Market Opens Flat Amid Mixed Global Cues

Indian indices opened flat on September 18 despite mixed global trends. The Sensex dipped 96.83 points, or 0.12%, to 82,982.83, while the Nifty fell 25 points, or 0.10%, to 25,393.50. In early trade, 1,539 shares advanced, 803 declined, and 136 remained unchanged.

Sep 18, 2024, 8:59 am IST

Oil Prices Hold Steady as Market Awaits Fed Rate Decision

Oil prices remained stable on Wednesday following gains in the previous two sessions, as investors focused on the US Federal Reserve's expected interest rate cut. Concerns about potential escalations in the Middle East also lent support to the market. Brent crude futures for November edged down by 3 cents to .67 per barrel, while US crude futures for October dipped 11 cents, or 0.2%, to .08 per barrel.

Sep 18, 2024, 8:43 am IST

GIFT Nifty Signals Flat Opening for Indian Markets

GIFT Nifty trends suggest a flat start for the Indian markets, with a modest gain of 7.50 points. Nifty futures were trading near the 25,470 mark, indicating minimal movement in the broader index at the open.

Sep 18, 2024, 8:17 am IST

US Markets Flat as Early Gains Fizzle Ahead of Fed Rate Decision

US stocks ended the day nearly unchanged on Tuesday after giving up earlier gains that had pushed the S&P 500 and Dow Jones Industrial Average to record highs. Investors took a cautious stance ahead of the anticipated Federal Reserve rate cut, the first in 4.5 years. The Dow Jones Industrial Average dipped slightly by 15.90 points, or 0.04%, to close at 41,606.18. Meanwhile, the S&P 500 inched up by 1.49 points, or 0.03%, to settle at 5,634.58, and the Nasdaq Composite rose by 35.93 points, or 0.20%, closing at 17,628.06.