Sensex Today Trades Marginally Lower | Nifty Below 25,400 | Bajaj Housing Finance Rallies 7%

Tue, 17 Sep 10:30 am

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Asian stocks were steady early Tuesday following a mixed session on Wall Street where traders boosted bets the Federal Reserve will this week deliver a half-point rate cut.

Technology stocks weighed on the S&P 500 and the Nasdaq on Monday as caution set in ahead of the Federal Reserve's pivotal monetary policy decision, due later in the week, with a majority of traders pricing in a steep reduction in borrowing costs.

Here's a table showing how US stocks performed on Monday:

Stock/Index	LTP	Change ($)	Change (%)	Day High	Day Low	52-Week High	52-Week Low
Alphabet	158.99	0.62	0.39%	159.24	157.61	193.3	121.46
Apple	216.32	-6.18	-2.78%	223.2	213.92	237.23	164.08
Meta	533.28	9.16	1.75%	534.1	517.4	544.21	279.4
Tesla	226.74	-3.55	-1.54%	229.96	223.53	273.93	138.8
Netflix	696.5	-0.56	-0.08%	703.02	688.63	711.33	344.73
Amazon	184.89	-1.6	-0.86%	185.81	183.36	201.2	118.35
Microsoft	431.34	0.75	0.17%	433.53	428.22	468.35	309.45
Dow Jones	41622.08	228.3	0.55%	41733.97	41435.17	41733.97	32327.2
Nasdaq	19423.06	-91.52	-0.47%	19446.06	19294.18	20690.97	14058.33

Source: Equitymaster

At present, the BSE Sensex is trading 64 points lower and NSE Nifty is trading 6 points lower.

HUL, ONGC and Tata Consumer products among the top gainers today.

Tata Motors, TCS and Wipro the other hand are among the top losers today.

For a comprehensive overview of key players in the financial sector, check out list of Fin Nifty Companies.

For impact of the Bank Nifty companies and comprehensive overview of the index, check out Equitymaster's Bank Nifty Companies list.

Broader markets are trading on positive. The BSE Midcap index and the BSE Smallcap index is trading flat.

Sectoral indices are trading mixed today with stocks in energy sector and FMCG sector witnessing buying. Meanwhile the stocks in auto sector and realty sector witnessing selling pressure.

The rupee is trading at Rs 83.84 against the US dollar.

In commodity markets, gold prices are trading 0.1% higher at Rs 73,411 per 10 grams today.

Now track the biggest movers of the stock market using stocks to watch today section. This should help you keep updated with the latest developments...

Speaking of the stock market, Warren Buffett, the legendary investor, once famously advised individuals to invest in low-cost index funds.

But is this advice still relevant today, especially for Indian investors?

With the surge in passive funds, it's time to re-evaluate whether active or passive investing is the better strategy.

Rahul Shah, Co-head of research at Equitymatser talks about the pros and cons of both approaches and decide which one aligns best with your investment goals.

Tune in for more

TVS Motors New Launch

On the TVS Motor Company on September 16 launched the all-new TVS Apache RR 310 - its flagship offering in the super-premium sports motorcycle category.

The all-new TVS Apache RR 310 is crafted from the machine that broke records at the Asia Road Racing Champion (ARRC) with a best lap time of 1.49.742 seconds and a top speed of 215.9 mph.

The motorcycle is expected to enhance the rider experience with an 11% increase in performance and introduce technologies such as a bi-directional quick-shifter, RTDSC, tyre pressure monitoring system (TPMS), cruise control, and aerodynamic winglet.

The new reverse-inclined DOHC engine now produces 38 PS@9800 rpm power and a maximum torque of 29Nm@7900 rpm.

The air intake system has been modified to increase the volumetric efficiency and coupled with the new lightweight aluminium forged piston the engine now revs more freely delivering increased power.

The engine is mated with a bi-directional quick-shifter that delivers precise and smooth shifts.

SpiceJet Approves QIP

SpiceJet has opened a QIP to raise up to Rs 30 billion (bn) at a floor price of Rs 64.79 per share, the company said on 16 September, informing exchanges about a preliminary placement document.

The airline said it may offer a discount on the floor price. The Indicative Issue price of the QIP is Rs 61.60/share, which is at a discount of 20.81% to Monday's closing price.

Though the size of the QIP has not been disclosed officially, the airline said in the past it has board approval to raise Rs 30 bn. The entire proceeds of the fundraise will be available to the airline, the statement added.

The airline has been making efforts to infuse funds to get more aircraft off the ground as well as to reduce the company's debt liability. These funds will also stabilise the overall operations and allow expansion.

The airline had a weak show in the June quarter on the back of reduced flight operations.

The airline moved the Supreme Court on September 12, challenging a Delhi High Court order by a single-judge bench, dated 14 August, that had grounded three aircraft engines for defaulting on payment to lessors.

Aside from that, on 10 September, the airline finalised a debt restructuring deal with Carlyle Aviation to write off lease arrears. As part of the deal, Carlyle also invested US$ 20 million (m) in SpiceXpress, converting lease arrears into compulsorily convertible debentures.

JK Tyres Approves Merger

The board of JK Tyre has approved the merger of Cavendish Industries into the company for operational efficiencies, and the amalgamation will result in a share transfer.

Shareholders will get 92 shares of JK Tyre for every 100 shares of Cavendish held.

JK Tyre said the amalgamation will result in operational synergies, reduce cost, consolidate sales and distribution network, and enhance shareholder value.

Both the companies are engaged in a similar line of business, JK Tyre said, and the amalgamation will result in all the related businesses being housed under one listed company. After the scheme, there is a slight change in the shareholding pattern, with promoter stake slightly falling to 49.31%.

JK Tyre & Industries had acquired Cavendish Industries, a Kesoram Industries unit, for Rs 21.9 bn, to enhance its position in the truck and bus radial segment.

To know what's moving the Indian stock markets today, check out the most recent share market updates here.

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