While benchmark indices rallied close to a per cent in early trade and scaled to record highs, valuation concerns and a sharp selloff in the broader markets led to profit-taking.
The 30-share BSE Sensex ended the session with 0.3 per cent gains at 83,185. The Nifty 50 went up by 0.15 per cent to close at 25,416.
The Sensex closed 0.7 per cent lower from the intraday high of 83,774, the Nifty 50 declined by nearly 0.8 per cent from a high of 25,612. In comparison, major markets in Asia and Europe logged in gains of over 1 per cent.
The US rate cut impact was more visible in the currency and debt market.
Rupee and government bonds strengthened on Thursday after the US Federal Reserve's decision to cut key interest rates by 50 basis points, said market participants. Rupee appreciated by 8 paisa to settle at 83.69 against the greenback, while the 10-year benchmark government bond yield settled at 6.76 per cent, the lowest since February 25, 2022.
هذه القصة مأخوذة من طبعة September 20, 2024 من Business Standard.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.
بالفعل مشترك ? تسجيل الدخول
هذه القصة مأخوذة من طبعة September 20, 2024 من Business Standard.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.
بالفعل مشترك? تسجيل الدخول
Venezuelan crude flows to state refiners via 3rd parties
STAGING A COMEBACK Oil imports from Venezuela (In $ mn)
Vi rings in $3.6 bn gear deal with global vendors
Mega pact comes a day ahead of telco's meet with investors, analysts
iPhone 16 series made in India, but still costlier: Blame 18% GST
Differential with US, UAE, Thailand significant despite lower launch MRPs
Bajaj now third most valued finance group
With combined mcap of ₹10.36 trn, it goes past SBI group
We are now an independent company, says Aakash CEO
With Byju's facing insolvency, AESL chalks out '2.0' strategy
No EV unit planned beyond Chakan: M&M
UV maker Mahindra & Mahindra (M&M), which enjoys a 21.6 per cent revenue market share in the segment, is progressing with its upcoming electric vehicle (EV) and EV battery manufacturing plant in Chakan.
InGovern raises concern over delay in Religare AGM
Proxy advisory firm InGovern on Sunday expressed concern over governance in Religare Enterprises amid a delay in its annual general meeting (AGM) without a valid reason, and called for a comprehensive probe by the Securities and Exchange Board of India (Sebi) into the postponement.
Tupperware boxed in by stiff competition in India
Tupperware, the iconic maker of colourful, stackable plastic containers, last week filed for bankruptcy in a US court – a move that lifted the lid on its financial problems.
Need to balance privacy and AI innovation: ITIC
Global tech body Information Technology Industry Council (ITIC) has urged the Indian government to strike a balance between individual privacy and innovation in the country's upcoming rules under the Digital Personal Data Protection (DPDP) Act.
Fully compliant: DreamFolks amid airport lounge issues
DreamFolks, a lounge access provider, clarified on Sunday that all its \"contractual agreements remain in full force\" amid disruptions experienced by passengers accessing airport lounges.