Stock Market Today: All You Need To Know Going Into Trade On Sept. 19

The benchmark equity indices closed in the green for the third straight session on Thursday after the US Federal Reserve cut its key interest rate by 25 basis points and signalled the possibility of two additional rate reductions this year.

The NSE Nifty 50 ended 93.35 points or 0.37% higher at 25,423.60 and the BSE Sensex closed 320.25 points or 0.39% up at 83,013.96. The Nifty rose over 0.47% during the day to 25,448.95, while the Sensex climbed 0.54% to 83,141.21.

The foreign portfolio investors on Thursday turned net buyers of Indian shares extending its alternate cycle of buying and selling. The FPIs bought stocks worth approximately Rs 366.69 crore, according to provisional data from the National Stock Exchange. The DIIs stayed net buyers for the ninth session and bought stakes worth Rs 3,326.56 crore.

US Markets rejoiced on account of Federal Reserve rate, with benchmarks reaching all-time highs.

A day after the Fed deployed its first reduction this year and signaled the potential for more saw a rally that lifted the S&P 500, the Nasdaq 100, the Dow Jones Industrial Average and the Russell 2000 to records.

This marks the first time since November 2021 that all four major benchmarks closed together at fresh highs, reports Bloomberg.

Following positive cues from US benchmarks and global gauges, coupled with US Federal Reserve's rate cuts, Nikkei started the day strong, trading with gains of almost 1%.

KOSPI, on the other hand, traded with cuts of almost half a percent while S&P/ASX 200 gained almost 0.4%.

Oil pared a second weekly gain after renewed calls by US President Donald Trump to pressure Moscow into lowering prices and ending the war in Ukraine. This weighed against renewed attacks on Russian energy infrastructure. 

Brent traded above $67 a barrel after losing 0.8% in the previous session while West Texas Intermediate was below $64.

Gold prices, meanwhile, slipped as the dollar pushed higher, with the Federal Reserve signaling guarded optimism regarding further US rate cuts. 

Bullion fell by as much as 0.9% as the dollar rose the most since September. A stronger greenback is negative for gold as it’s priced in the US currency, Bloomberg reports.

In terms of action on the other metals front, China suspended an unofficial subsidy for copper and nickel imports from countries including Russia, which relies more on its neighbour due to sanctions imposed by western countries.

Commerce & Industry Minister Piyush Goyal will be spending his second day of visit to UAE.

Waaree Energies’ offer to sell Indosolar shares opens for retail investors.

Tata Steel Chairman TV Narendran to speak at IFQM Annual Symposium.

• Senores Pharma: The company further made an investment of $2 million in arm Senores Pharmaceuticals Inc via rights issue.

• Unichem Labs: The company received a demand of notice of Euro 19.48 million from the European Commission. The arm already remitted an amount of Euro 2.79 million in instalments to the European Commission. The balance demand of Euro 16.69 Mn is now payable to the European Commission.

• Thomas Cook: Arm Sterling Holiday resort launched ‘Sterling Hibis Vellore’ Resort.

• Allied Blenders and Distillers: Arm announced the debut of its portfolio at the Duty-Free Travel Retail in Bengaluru.

• Sai Life Sciences: The company successfully opened a dedicated facility for veterinary API production, in Bidar, India. With this expansion, the company aims to provide efficient and scalable manufacturing solutions to leading global animal health companies.

• Biocon: Arm Biocon Biologics’ drug Yesafili now publicly funded in Ontario for Advanced treatment of retinal diseases. Yesafili was the 1st Biosimilar to Eylea to be approved by Health Canada.

• Ceigall India: The company approved lending of Rs 50 crore as convertible loan in form of inter-corporate deposit to arm C & C Constructions. The company to acquire stake in Ceigall Southern Ludhiana bypass worth Rs 19.4 crore.

• Electronics Mart: The company commenced operations of New Multi Brand Store in Andhra Pradesh.

• Netweb Tech: Goldman Sachs Asset Management reduced stake in the company to 3% from 5%.

• Mukka Proteins: The company received tax demand of Rs 141.06 crore including interest & penalty.

• Kingfa Science Technology: The company received approval from NSE and BSE for the allotment of 14 lakh shares at an issue price of Rs 3,470 per share on preferential basis.

• PNC Infratech: The company received a provisional completion certificate for project ‘Four Laning of l.iH 5308 from Mathura Bypass’.

• Texmaco Rail: The company received Rs 87 crore order from Ultratech Cement for BCFC Wagons along with Brake Van.

• John Cockerill: The company received a contract from Tata Steel for the Push-Pull Pickling line & Acid Regeneration Plant.

• Kesar India: The company approved the allotment of 64 lakh fully convertible warrants aggregating to Rs 226.7 crore to promoter and non-promoter group.

• Century Plyboards: The company re-appointed Sajjan Bhajanka as Chairman and Managing Director for five more years effective April 1, 2026.

• Sheela Foam: The company received an NCLT nod to merge a total of six companies into the company.

• Kansai Nerolac: The company received a total GST demand of Rs 6.8 crore from Income-Tax Dept.

• Vedanta: The company declared as a preferred bidder for Punnam Manganese block in Andhra Pradesh.

• Metropolis Healthcare: The company acquired Ambika Pathology under the business transfer agreement. Post transfer operations of Ambika pathology are now being carried out under the company.

• Asahi India: The company closes its QIP, approves the allocation of 1.18 crore shares at Issue price of Rs 844.79 per share.

• Sterling and Wilson Renewable Energy: The company received assessment orders from Kenya Revenue Authority for the period Jan. 01, 2020, to Dec. 31, 2023, for a shortfall of tax aggregating to Rs. 50.41 crore. The company shall file an appeal against the orders with the appropriate authorities within the prescribed time limit.

• Indian Hotels: The company clarifies that the report of sale of New York's Pierre is misleading and speculative. The company does not own New York’s Pierre.

• Arfin India: The company received Rs 180 crore order from JFE Shoji India for supply of 6,900 MT Of Aluminium Products.

• Ramky Infra: Hyderabad Metropolitan water supply and sewerage board executed concessionaire agreement with the company’s arm Mallannasagar water supply. The total value of the project is Rs 2,085 crore.

• One Mobikwik: From Sept. 11-12, a technical issue at One MobiKwik caused some failed transactions in Haryana to be incorrectly marked as successful. The company quickly fixed the problem within 45 minutes. MobiKwik also took action by freezing over 2,000 merchant bank accounts and authorities made arrests related to the incident. The company stated that no user accounts, UPI, or wallet payments were affected, and the issue was an internal one that did not impact any banks or financial institutions.

• KFIN Tech: The company becomes 1st registrar, transfer agent in IFSC Gift City.

• IDBI Bank: Government withdraws nomination of Sushil Kumar Singh as Nominee Director.

• Union Bank of India: The company received monetary penalty of Rs 5.97 lakh from RBI.

• Sasken Tech: The company in an agreement with VicOne to Deliver end-to-end Automotive Cybersecurity Solutions.

• Insolation Energy: The company incorporated two wholly owned arms as SPVs for setting up solar power plants.

• PC Jeweller: The company approved the allotment of 9.7 crore fully convertible warrant at an issue price of Rs 18 per warrant. Approves Allotment of 18 crore shares at Issue Price of Rs 18 per share.

• Dr Reddy's Laboratories: The company receives intimation from Promoters regarding transfer of shares. The promoters settled 20.58% stake through off market transfer on Sept. 17. Promoter Satish Reddy Kallam transferred 9.06% stake to VSD Family Trust. Promoter G V Prasad transferred 11.51% stake to GVP Family Trust.

• Great Eastern Shipping: The company in a loan agreement with arm Greatship (India) to grant a term loan of Rs 425 crore.

• Metro Brands: The company approved the re-appointment Of Mohammed Iqbal Hasanally as Whole-Time Director for five years.

• Nuvoco Vistas Corp: The company allotted NCDs worth Rs 600 crore on Private Placement basis.

• Waaree Energies: Arm to subscribe 76% share capital of Racemosa Energy (India) worth Rs 53 cr.

• GE Power: The company approved the scheme of arrangement among the company and JSW Energy and execution of demerger co-operation agreement.

• Laxmi Organics: The Maharashtra Electricity Regulatory Commission has ruled in favor of the company regarding a dispute with MSEDCL. The commission stated that the company's Unit 2 cannot be charged for wheeling or transmission and ordered MSEDCL to withdraw its disconnection notice from May 29, 2025, and a recovery notice from June 4, 2025. Additionally, all bills MSEDCL issued to Unit 2 between June 2019, and May 2025 have been set aside. MSEDCL must also now process the company's other applications for open access.

• Barbeque-Nation: The name of the company is to be changed to unite Foodbrands effective today.

• Cohance Lifesciences: Jusmiral holdings sells 3.4 crore shares of the company.

• Hind Rectifiers: The proposal for the Acquisition France’s BeLink solutions approved by Tribunal des Activités Économiques of Le Mans. The total consideration involved in the transaction amounts to 1 Mn Euros.