Share Market Live Updates September 16, 2024:

Stock market live today: Systematix Corporate Services raises Rs 103.12 cr through preferential allotment for strategic initiatives

Systematix Corporate Services, a BSE-listed integrated financial services firm announced raising Rs 103.12 Crores through preferential allotment of equity shares at Rs 1531 per share.

The funds raised will fuel strategic initiatives across Systematix’s diverse business verticals, including the launch of two Alternative Investment Funds (AIFs) – Category I and Category III, scaling the Margin Trading book, Strengthening the Wealth Management, Capitalising the Institutional and HNI/Retail broking divisions and Accelerate the growth of investment banking and equity capital market businesses.

Commodities market updates: Silver up at $30.95

Silver rose to approximately $31 as the dollar index fell below 101 for the third consecutive day amid rising expectations that the Federal Reserve will slash interest rates more forcefully at this week’s policy meeting. According to CME’s FedWatch Tool, markets are now pricing in a 59% possibility that the Fed will deliver a greater 50 basis point rate decrease on Wednesday, up from 25% a month ago, while the odds for a moderate 25 basis point reduction are 41%. Those forecasts came despite the fact that crucial inflation readings for August were hotter than expected last week, despite the fact that the most recent jobs data showed symptoms of a sluggish labour market. Investors are also looking forward to Tuesday’s US retail sales and industrial production data for fresh economic clues. 

Commodities market updates: Gold gains to $2585.63

Gold soared beyond $2,585, reaching record highs, aided by a weaker dollar and lower bond yields amid rising prospects of an aggressive US interest rate decrease this week. Fed fund futures show that investors are increasingly betting on the Federal Reserve to drop rates by 50 basis points, with markets pricing in a 59% possibility, while the odds for a moderate 25 basis point cut stand at 41%, according to CME’s FedWatch Tool. This comes after a weekly job report that showed significant weakness in the labour market, as demonstrated by dismal August payroll figures. Recent data also show that US inflation is heading downward, while some stickiness persists.

Commodities market live today: ICICI Securities on Commodities review and outlook 

Spot gold prices hit fresh record high on Friday and Spot silver hit 2-weeks high amid growing optimism of lower interest rates by the US Federal Reserve. Weakness in the dollar and fall in global treasury yields supported the bullions to trade higher. Further, strong inflows into Gold ETF also strengthened the bullishness in the metal.

Dollar index traded lower amid resurgence of 50 bps interest rate cut by the Fed in its September meeting. Dovish comments from a Fed member has caused a shift in market expectation. As per the CME Fed-Watch tool the probability of 50 bps rate cut in September has gone to 59% from 30% a day ago. Meanwhile, rise in US consumer sentiments to its highest level at 4-month limited the downside in the dollar.

US treasury yields moved lower after the US prelim UoM inflation expectation dipped to 2.7% against previous reading of 2.8% indicating further scope for lower interest rate.

NYMEX crude oil prices failed to capitalize its gains and edged lower as US oil production slowly resumes after hurricane. Further, less than expected rise in demand forecast in the coming quarter and 2025 by IEA also weighed on the oil prices.

Base metals moved higher on signs of improved demand form China. Increasing premium of refined metal in China and depleting stocks in SHFE supported the metal prices to hold its gains. Further, a sudden surge in electric vehicle sales has also supported its gains. Additionally, growing prospects of 50 bps interest rate cut by the US Federal Reserve in September has fueled the rally in base metals.

NYMEX natural gas pared all its gains and edged lower after rallying to its 2-month high driven by higher demand forecast and reduced output due to Hurricane Francine, which forced producers to cut back.

Stock market live today: Indian markets set to open mildly higher, following mixed Asian markets and positive US cues

Deepak Jasani, Head of Retail Research at HDFC Securities says Indian markets could open mildly higher, in line with mixed Asian markets today and positive US markets on Sept 13

Stock market live today: Dalal Street braces for Bajaj Housing Finance IPO and Fed interest rate cut optimism

Prashanth Tapse, Senior VP (Research), Mehta Equities 

Bajaj Housing Finance is set to list on Monday, September 16, 2024, after receiving Rs 3,80,000 crore worth of bids for its Rs 6560 crore IPO, with the grey market premium (GMP) remaining above 100%. The week ahead promises action on Dalal Street, with seven new public issues and 13 stock exchange debuts. Gift Nifty is racing towards record highs, while investor optimism builds ahead of the Federal Reserve’s expected interest rate cut. Key stocks in focus include Wipro, Persistent Systems, and LTTS, with Nifty and Bank Nifty offering attractive trading opportunities.

Stock market live today: Consumer durables players see strong double-digit growth during Onam led by washing machines, LED TVs

The consumer durables industry witnessed a strong sales uptick for washing machines, air-conditioners and LED TVs during the Onam festival period. Some of the leading brands said they witnessed strong double-digit growth during this period led by higher demand for the premium segment, making them bullish about the upcoming festivities that end with Diwali. Industry growth rate, which was flat last year, is also expected to be around 15-20 per cent in terms of value.

Stock market live today: Margin trading books of brokers zoom amid bull run

The sustained uptick in equities has given a fillip to margin trading facility (MTF), a product offered by brokers that allows up to 5x leverage to those trading in the cash market.

The MTF book has swelled to ₹80,000 crore, a growth of over 55 per cent in the past eight months, according to estimates.

Stock market live today: F&O Strategy: Buy Sun TV futures

The stock of Sun TV Network (₹825.25) posted a gain last week, particularly due to the rally on Friday. While the stock saw a decline in August, it has largely been oscillating in a range so far this month.

Stock market live today: F&O Tracker: Index futures set to rally further

Nifty 50 (25,357) and Bank Nifty (51,938) appreciated by a considerable 2 per cent and 2.7 per cent, respectively, last week. Below is the analysis of futures and options data of both the indices.

Stock fundamentals: The raging SME IPO market

BSE 500 has risen 3.17 times in the last 10 years. If you thought that was good, here is some interesting data. In this same period, the BSE SME IPO index, which tracks the companies in the SME segment, has risen a whopping 110 times till September 11, 2024. Much of the gains are in the last three years, post Covid, when the index rose 16 times compared with the BSE 500 index’s 1.4 times rise.

Stock market live today: Gujarat Gas: Does the scheme of arrangement add fizz to the counter?

India is witnessing a structural increase in the consumption of natural gas on the back of the Union government’s (GoI) planned and sustained push to increase the share of gas in India’s energy mix to 15 per cent by 2030, from the current 6.7 per cent. Efforts are on to stimulate both supply and demand in this space. 

Stock market live today: Northern Arc Capital IPO – Key things to know before you subscribe

The IPO of Northern Arc Capital Ltd (NACL), a systemically important non-deposit taking NBFC, is open for subscription from September 16 to 19. The issue size is ₹777 crore, with a fresh issue of ₹500 crore. NACL is a professionally-run company with no identifiable promoters. A few institutional investors are set to pare their stake.

Commodities market updates: What next for crude oil?

Declining crude oil prices has been in the news for quite some time now. After having started the down move in early July, crude oil prices extended the decline in September. Brent crude oil futures marked a low of $68.7 a barrel last week, the lowest since December 2021 and WTI (West Texas Intermediate) futures marked a low of $65.3 a barrel, the lowest since May 2023. Year-to-date, the former is down 8.6 per cent and the latter has lost 4.3 per cent.

Stock market live updates: Stocks that will see action this week

Here is what the charts say about the shares of Linde India, Prestige Estates Projects and Sundram Fasteners

Currency market updates: Currency Outlook: Dollar remains stable

The dollar index remained in a narrow range all-through last week. Indeed, the index has been stable, and range bound over the last three weeks. This clearly indicates that the market is waiting to see the outcome of the US Federal Reserve meeting on Wednesday this week.

Stock market live today: Nvidia’s influence on markets: When tail wags the dog

Never have so many depended so much on so few (just one company) – that was how we had termed the dependence of the global stock market rally hinged to the fortunes of Nvidia in our article ‘Nvidia and its parabolic growth’ published in February this year. Fast forward to today, this theme has only got stronger.

Watch: Stock idea today: Blue Star

The stock idea that we have for you today is Blue Star. The stock has surged over 9 per cent last week and has closed on a strong note. There is an inverted head and shoulder pattern on the chart. This is a bullish pattern. It indicates that the share price can go up in the coming days.

Stock market live today: Mcap: Nine of top-10 most valued firms jump ₹2 lakh crore; Bharti Airtel sparkles

Reliance Industries led the chart of the top-10 most valued firms followed by TCS, HDFC Bank, Bharti Airtel, ICICI Bank, Infosys, SBI, Hindustan Unilever, LIC and ITC. 

Watch: Nifty and Bank Nifty Prediction for the week 16 Sep’24 to 20 Sep’24 by BL GURU

The Indian benchmark indices, #nifty50 and #Niftybankindex, have seen a strong rise last week. That keeps intact the overall uptrend.

Stock market live today: Index Outlook: Nifty 50, Sensex: Gains bullish momentum

The Indian benchmark indices opened the week on a weak note, but then managed to surge in the second half of the week. The Sensex, Nifty 50 and the Nifty Bank indices were all up over 2 per cent. This rise has reduced the danger of the fall that we had cautioned last week.