Stock Market Highlights September 30, 2024: Sensex closes 1.5% lower amid global uncertainty and profit-taking
Stock Market today | Share Market Updates - Find here all the updates related to Sensex, Nifty, BSE, NSE, share prices and Indian stock markets for 30 September, 2024.
September 30, 2024 16:45
Stock market live today: Sensex plunges 1.5 per cent amid global tensions and profit-taking
The Indian stock market witnessed a sharp sell-off on Monday, with the BSE Sensex plummeting 1,272.07 points or 1.49 per cent to close at 84,299.78, while the Nifty 50 tumbled 368.10 points or 1.41 per cent to 25,810.85. The decline marked the worst day for both indices in nearly two months, driven by escalating geopolitical tensions in West Asia the Middle East and profit-booking after recent highs.
The market opened on a weak note, with the Sensex starting at 85,208.76, down from its previous close of 85,571.85. Similarly, the Nifty opened lower at 26,061.30, compared to its last close of 26,178.95. The negative trend persisted throughout the trading session, with both indices closing near their day’s lows.
September 30, 2024 16:10
Stock market live today: Rupee tumbles 11 paise at close at 83.80 against US dollar amid sharp decline in equity markets
The rupee depreciated 11 paise to settle at 83.80 (provisional) against the US dollar on Monday, taking cues from equity markets that saw a steep fall of over 1 per cent amid volatile crude oil prices and outflow of foreign funds.
However, a weak greenback against major currencies supported the local unit, forex traders said, while investors showed muted participation awaiting cues from domestic macroeconomic data to be released this week.
At the same time, they said, monetary and fiscal stimulus announced by China triggered withdrawal of foreign funds as investors preferred better-performing Chinese markets.
September 30, 2024 15:56
Stock market live today: Tilaknagar Industries expands portfolio with premium whisky launch; Stocks surge
Tilaknagar Industries Limited (TI), an Indian-Made Foreign Liquor manufacturer, has unveiled Mansion House Gold Barrel Whisky today. The premium whisky, a blend of Select Scotch Malts and Indian Grain Spirits, has been initially launched in Assam, with plans to expand to other key markets across India.
The shares of Tilaknagar Industries Limited (TI) were trading at ₹300.75 up by ₹9.40 or 3.23 per cent on the NSE today at 3.15 pm.
September 30, 2024 15:50
Stock market live today: Nifty metal and media end in green, Nifty auto declined 2.11% to close at 27,027.20
September 30, 2024 15:50
Stock market live today: Top gainers and losers on the NSE
Top gainers: JSW Steel (2.93%), NTPC (1.37%), Hindalco (1.14%), Britannia (1.06%), Tata Steel (0.84%)
Top losers: Hero Motocorp (-4.03%), Axis Bank (-3.29%), Trent (-3.20%), Reliance (-3.13%), BEL(-3.05%)
September 30, 2024 15:45
Stock market live today: BSE Sensex plummeted 1272.07 points or 1.49% to close at 84,299.78, and Nifty 50 tumbled 368.10 points or 1.41% to 25,810.85
September 30, 2024 15:20
Stock market live today: R Systems International launches Resilience Engineering model, shares trade flat
R Systems International Limited announced the launch of Resilience Engineering model, which combines Chaos Engineering with DRaaS.
Stock trades flat on the NSE at ₹477.15
September 30, 2024 15:13
Stock market live today: BSE Sensex dropped 1300.65 pts or 1.52% to 84,271.20 as at 3.10 pm.
September 30, 2024 15:06
Share market live today: Top gainers and losers on NSE at 3 pm
Top gainers:
JSW Steel (2.69%), NTPC (1.50%), Hindalco (1.37%), Tata Steel (1.34%), Britannia (1.30%)
Top losers:
Hero Motocorp (-4.17%), Trent (-3.28%), Reliance (-3.14%), Axis Bank (-2.94%), M&M (-2.73%)
September 30, 2024 15:05
Stock market live news: 1,718 stocks advance, while 2,298 decline on BSE at 3 pm
Stocks advanced on BSE at 3 pm on September 30, 2024, were 1,718 against 2,298 stocks that declined, and 149 remained unchanged. Total stocks traded were 4,165. The number of stocks that recorded a 52-week high was 293, and those that hit a 52-week low was 56.
A total of 381 stocks traded in the upper circuit, and 297 in the lower circuit.
September 30, 2024 14:58
Stock market today: Dr. Reddy’s Laboratories announced completion of acquisition of Nicotinell® and related brands by its subsidiary; shares trade flat on the NSE at ₹6,777.
September 30, 2024 14:58
Stock market live today: Indian Oil withdraws proposed ₹22,000 crore rights issue, shares trade flat
Indian Oil Corporation Limited announced withdrawal of the proposed right issue of equity share amounting to ₹22,000 crore.
Shares trade flat on the NSE at ₹179.77.
September 30, 2024 14:54
Stock market live news: Major stocks to hit 52-week high on NSE
Major stocks that hit 52-week high on the NSE today:
Reliance Power (4.98%), JM Financial (4.87%), Whirlpool (4.47%), Welspun Corp (2.82%), JSW Steel (2.63%).
September 30, 2024 14:53
Stock market live news: Cummins India unveils Retrofit Aftertreatment System, stock down 2.27%
Cummins India Limited launches Retrofit Aftertreatment System, an innovative clean air solution for CPCBII and CPCBI gensets.
Stock trades 2.27% lower on the NSE at ₹3,776.90.
September 30, 2024 14:46
Share market live today: Airtel prepays ₹8,465 crore to clear high-cost deferred liabilities for spectrum acquired in 2016
Bharti Airtel has prepaid ₹8,465 crore to the Department of Telecom (Government of India) against spectrum acquired in 2016. These liabilities carried an interest rate of 9.3%.
Stock trades at ₹1,708.30 on the NSE, down by 1.52%.
September 30, 2024 14:46
Stock market live today: Great Eastern Shipping delivers ‘Jag Pranav’ tanker, shares dip 1.21%
The Great Eastern Shipping Company Limited (G E Shipping) delivered its 2005 built Medium Range Product Tanker “Jag Pranav” to the buyers. The vessel was contracted for sale in July 2024.
Shares trade at ₹1,195.10 on the NSE, lower by 1.21%.
September 30, 2024 14:35
Share market live today: Akme Fintrade secures ₹10 crore term loan from Poonawalla Fincorp, shares dip
Akme Fintrade (India) informed that Poonawalla Fincorp Limited has sanctioned Term Loan of ₹10 crore.
Akme Fintrade (India) stock trades at ₹112.06 on the NSE, down by 1.01%. Shares of Poonawalla Fincorp trade flat at ₹395.
September 30, 2024 14:34
Share market live today: Mahindra Logistics forms JV with Japan’s Seino Holdings for auto warehousing and trucking services
Mahindra Logistics had executed a Joint Venture Agreement (“JVA”) with Seino Holdings Co., Ltd., Japan (“Seino”), to enable the formation of a Joint Venture company (“JVCo.”) in India, for carrying on the business of providing warehousing and trucking services and related services thereto primarily to Japanese automobile companies and Japanese auto ancillary companies and / or their respective automobile and/or auto ancillary Affiliates in India, and such other matters as may be agreed from time to time. The Company would hold 50% in the proposed JVCo. and the balance 50% would be held by Seino.
Shares trade at ₹481 on the NSE, lower by 3.47%.
September 30, 2024 14:32
Stock market live today: Tilaknagar Industries launches Mansion House Gold Barrel Whisky, shares up 1.08%”
Tilaknagar Industries Limited (TI) has announced the unveiling of Mansion House Gold Barrel Whisky, its latest offering under the company’s flagship brand, Mansion House.
Shares were up 1.08% to trade at ₹294.50 on the NSE
September 30, 2024 14:29
Stock market live updates: Top gainers of Nifty Metal stocks: NMDC (3.92%), Welcorp (3.48%), APL Apollo Tubes (2.78%), JSW Steel (2.54%).
September 30, 2024 14:29
Stock market live news: Shivalik Bimetal promoters boost holding to 33.15%, stock rises 3.69%
Shivalik Bimetal Controls Ltd. announced the increase of the Ghumman Family’s stake (the remaining promoters) in the Company from 25.5% to 33.15%.
Shares gained 3.69% to trade at ₹648.45 on the NSE.
September 30, 2024 14:21
Stock market live news: Sensex slumped 1202.09 pts pr 1.40% to 84,369.76 as at 2.19 pm, Nifty 50 sank 355.70 pts or 1.36% to 25,823.25.
September 30, 2024 14:20
Share market live today: Jindal Stainless has collaborated with CJ Darcl Logistics Limited (CJ Darcl); shares trade flat on the NSE at ₹780.15.
September 30, 2024 14:08
Share market today: Shakti Pumps (India) Ltd to consider proposal for issue of bonus shares in the ratio of 5:1. (Reuters). Shares trade 5% higher on the NSE at 4,270.65, also in upper circuit.
September 30, 2024 14:05
Stock market live news: SBI Card, in partnership with Singapore Airlines Limited (SIA}, has launched the KrisFlyer SBI Card; shares trade flat on the BSE at ₹779.80.
September 30, 2024 13:57
Stock market live today: Rail Vikas Nigam becomes lowest bidder for ₹180 crore project with East Central Railway
Rail Vikas Nigam Limited emerges as the Lowest Bidder (L1) from EAST CENTRAL RAILWAY for “Design, Supply, Erection, Testing and Commissioning of 2x25KV feeder line along the track with 25KV OHE modification works to meet 3000 MT loading target for UP & DN line of Garwa Road -Mahadiya Section of Dhanbad Division under E.C. Railway
Cost: ₹180 crore
Stock trades flat at ₹521.70 on the NSE
September 30, 2024 13:51
Share market news today: Oriental Rail Infrastructure wins ₹1.10 crore order from Indian Railways
Oriental Rail Infrastructure Limited has secured order worth ₹1.10 crore from Modern Coach Factory (MCF), Raebareli, Indian Railways.
Shares rose 1.09% on the BSE, trading at ₹283.50.
September 30, 2024 13:50
Stock market live today: Zen Technologies announces new patent grant for IVTSS
Zen Technologies Limited (Zen) announced the grant of its latest Indian Patent for the “Infantry Virtual Training Simulation System (IVTSS)“
Shares trade flat on the NSE at ₹1,694.20
September 30, 2024 13:48
Stock market live news: Moneyboxx Finance expands footprint with 28 new branches; shares trade flat
Moneyboxx Finance Limited announced the opening of 28 branches in September 2024, of which 18 branches were opened in the states of Andhra Pradesh, Karnataka, Tamil Nadu, and Telangana.
Shares trade flat at ₹271.75 on the BSE.
September 30, 2024 13:21
Stock in focus: Paytm shares up 1.44% to ₹682 on the NSE
September 30, 2024 13:21
Nifty Today: Top losers of Nifty Auto stocks
Hero Motocorp (-4.20%), TVS Motor (-3.47%), Bajaj Auto (-2.28%), M&M (-2.12%)
September 30, 2024 13:03
Stock market live today: Asian Paints faces tax credit disallowance and penalty, shares unmoved
Asian Paints has received order from the Deputy Commissioner (ST)-II, Large Tax Payer Unit, Chennai, Tamil Nadu, for disallowing input tax credit (‘ITC’) of Rs. 3,74,660/- along with a penalty of Rs. 1,87,330.
Shares trade flat at ₹3,342.70 on the NSE.
September 30, 2024 12:46
Stock market live today: Mankind Pharma to raise ₹10,000 crore, shares dip 1.18%
Mankind Pharma board has approved raising funds up to ₹5,000 crore via NCDs, and issuance of commercial paper aggregating to ₹5,000 crore.
Shares trade at ₹2,561.50 on the NSE, down by 1.18%. **
September 30, 2024 12:37
Stock market live today: Coal India to implement uniform interest rates on delayed payments from October 2024
Coal India Limited (CIL), effective 1st October 2024, will be applying uniform interest rates on delayed amounts of receivables, adjustments and recoverable sums that remain outstanding after the due date. Earlier, the interest rates were skewed with wide variances even for the same generating company that had different Fuel Supply Agreements (FSAs) with CIL.
Coal India shares trade flat on the NSE at ₹512.65
September 30, 2024 12:35
IPO Watch: Dr Agarwal’s Health Care eyes IPO: Aims to raise Rs 3,000-3,500 crore
Temasek Holdings and TPG-backed Dr Agarwal’s Health Care, an eye care services provider, has filed preliminary papers with the capital markets regulator to raise an estimated Rs 3,000-3,500 crore through its initial public offering (IPO).
The IPO is a combination of a fresh issue of up to Rs 300 crore and an Offer For Sale, (OFS) of up to 6.95 crore equity shares by promoters and other selling shareholders. The offer also includes a subscription for eligible employees, according to the draft red herring prospectus (DRHP).
Those selling shares in the OFS include Arvon Investments Pte. Ltd, Claymore Investments (Mauritius) Pte. Ltd, and Hyperion Investments Pte. Ltd.
Merchant banking sources have pegged the IPO size as Rs 3,000-3,500 crore.
Going by the draft papers filed on Friday, proceeds from the fresh issue to the tune of Rs 195 crore will be used for payment of debt and besides, a portion will be used for general corporate purposes, and for unidentified inorganic acquisition.-- PTI
September 30, 2024 12:12
Stock in focus: NBCC (India) bags ₹101 crore NHAI contract; shares remain unchanged
NBCC (India) Limited has recently been awarded ₹101 crore contract from NHAI
Shares trade flat on the NSE at ₹179.10.
September 30, 2024 12:08
Stock market live today: Marine Electricals secures ₹8.58 cr order from Princeton Digital, shares dip 1.04%
Marine Electricals (India) has received order for ₹8.58 Cr from Princeton Digital Group, for Supply, of LT & MV Panel for MU1 DC1 Airoli Navi Mumbai Project. The Delivery shall be over a period of 6-8 Months.
Shares trade at ₹219.45 on the NSE, down by 1.04%.
September 30, 2024 12:07
Nifty Today: Top gainers, loses at noon trade
Top gainers on the NSE as at 12 noon:
JSW Steel (2.50%), Hindalco (1.68%), Tata Steel (1.65%), Adani Enterprises (1.35%), Asian Paints (1.18%)
Top losers:
Hero Motocorp (-4%), Trent (-2.78%), M&M (-2.57%), Reliance (-2.28%), Bajaj Auto (-2.25%)
September 30, 2024 12:05
Sensex today: Advance-decline ratio at noon trade
Stocks advanced on BSE at 12 noon on September 30, 2024, were 1,562 against 2,325 stocks that declined, and 159 remained unchanged. Total stocks traded were 4,046. The number of stocks that recorded a 52-week high was 258, and those that hit a 52-week low was 48.
A total of 312 stocks traded in the upper circuit, and 288 in the lower circuit.
September 30, 2024 12:04
Stock market live today: Antara Senior Living to manage estate 360 Residences, boosts Max India stock by 3.25%
Antara Senior Living, a wholly-owned subsidiary of Max India Limited, has entered into an agreement with Max Estates Ltd. for managing the senior living residences and spaces in the successfully launched intergenerational residential community, Estate 360 at Gurgaon, by Max Estates Ltd.
Max India stock trades at ₹263.70 on the NSE, higher by 3.25%
September 30, 2024 11:55
Markets update live: Indices down by 1%
Sensex traded at 84,610.77, lower by 961.08 pts or 1.12% as at 11.39 am, and Nifty 50 traded at 25,901.00, down by 277.95 pts or 1.06%. Nifty realty plummeted 2.07% to 1,094.70
September 30, 2024 11:46
Stock market live today: Eraaya Lifespaces restructures after Ebix acquisition, suspends Robin Raina: stocks rise 5%
The restructuring aims at enhancing operational efficiency, governance, and global expansion, particularly emphasizing the growth of Ebix Travels in Southeast Asia
September 30, 2024 11:40
Stock market live today: Manaksia Coated Metals secures ₹200 crore European contract, stocks surge
This contract is pivotal for MCMIL’s expansion in the European market and is expected to significantly boost the company’s export revenue.
September 30, 2024 11:34
Stock market live today: Axis Bank and GuarantCo boost electric mobility with ₹100 cr guarantee to Muthoot Capital
Axis Bank, in partnership with GuarantCo, part of the Private Infrastructure Development Group (PIDG), has extended a Rs 100 crore (about USD 12 million equivalent) guarantee to Muthoot Capital to enable the NBFC to on-lend to customers in rural and non-metro regions in India, for purchasing electric two wheelers.
September 30, 2024 11:27
Stock market live today: Ola Electric shares tank 3.46% to ₹98.64 on the NSE.
September 30, 2024 11:26
Stock market live today: Artson Engineering secures ₹11.50 cr contract from Deepak Nitrite; stock remains unchanged
Artson Engineering has bagged contract from Deepak Nitrite for ₹11.50 crore.
Artson stock trades flat on the BSE at ₹183.
September 30, 2024 11:26
Stock market live today: Nitco announces sale of Thane property; shares dip 1.39%
Nitco board has approved the sale, transfer, and assignment of the leasehold
rights, title, and interest held in leasehold land bearing Plot No. F-6/3 situated at Trans Thane
Creek Industrial Area, MIDC, Panchpakhadi, Thane along with a factory building for the
remaining period of the lease.
Shares trade at ₹84.65 on the NSE, down by 1.39%.
September 30, 2024 11:15
Stock market live today: Post-listing quote on Manba Finance from Shivani Nyati, Head of Wealth, Swastika Investmart
Manba Finance, a leading financier specializing in two- and three-wheelers, made a positive debut on the stock market, listing at Rs. 145 per share, a 20.83% premium over its issue price of Rs. 120. The strong listing reflects the company’s robust growth, positive financial metrics, and the overwhelming investor response that saw the IPO subscribed 224.05 times.
While the listing gain is commendable, investors should remain cautious as the IPO was fully priced, and the company operates in a competitive market with inherent risks. However, Manba Finance’s focus on niche segments positions it for potential growth.
Existing investors may hold their shares with a stop loss at around 130, while closely monitoring the company’s performance and market conditions.
September 30, 2024 11:10
Stock market live now: Sensex, Nifty fall nearly 1%
Sensex fell 834.99 pts or 0.98% to 84,736.86 as at 11.04 am. Nifty traded at 25,937.80.
September 30, 2024 11:09
Stock market like today: Angel One shares up 1.17% after settling SEBI case
Angel One shares rose 1.17% to ₹2,562.05 on the NSE. Company on Friday settled an alleged front-running case with capital markets regulator SEBI by paying Rs 21.64 lakh towards settlement charges.
September 30, 2024 11:00
Stock to watch: Apollo Hospitals Enterprise
Apollo Hospitals stock trades flat on the NSE at ₹7,256.40. Its subsidiary Apollo Healthco approved the allotment of Rs 2,475 crore worth of compulsorily convertible non-cumulative participating preference shares (CCPS – Class A and B) with a face value of Rs 100 per share to Rasmeli, an affiliate of Advent, in exchange for a 16.9 per cent stake.
September 30, 2024 10:58
Bank Nifty prediction today – September 30, 2024: Index to remain bearish today, go short
Bank Nifty opened today’s session with a gap-down at 53,557 versus yesterday’s close of 53,834. The index is now hovering around at 53,220, down 1.1 per cent.
September 30, 2024 10:47
Stock market live today: Maan Aluminium has been awarded “ZERO” Rate of Anti Dumping duty for the export of Aluminium Extrusions to USA; shares hit upper circuit on the BSE at ₹171.30, higher by 20%.
September 30, 2024 10:39
Stock market live news: Scanpoint Geomatics selected for armed forces project, shares surge 5%
Scanpoint Geomatics was shortlisted for a project of the Indian armed forces, specifically under the “MAKE-1I” and IDDM (Indian Design Development and Manufacturing) initiatives. This project aims to promote indigenous design, development, and manufacturing capabilities for the armed forces.
Scanpoint Geomatics shares climbed 5% on the BSE to ₹9.24.
September 30, 2024 10:37
Share market live news: Julien Agro Infratech Limited has secured an order for “Unbranded Rice” amounting to ₹12 crore, shares climbed 4.43% to ₹29.21 on the BSE.
September 30, 2024 10:37
Share market live today: L&T’s digital energy arm bags South India energy management deal, shares trade flat
The Digital Energy Solutions (DES) arm of Larsen & Toubro’s Power Transmission & Distribution (PT&D) business has received the mandate to develop and implement Energy Management Systems in regional and state load dispatch centre in South India.
Shares traded flat on the NSE at ₹3,681.80.
September 30, 2024 10:34
Stock market live today: Reliance Infra wins ₹780 crore arbitration case, stock jumps 5.43%
The Calcutta High Court has upheld a ₹780 crore arbitration award in favour of Reliance Infrastructure Ltd in a dispute with West Bengal-based Damodar Valley Corporation, the Anil Ambani group firm said in a stock exchange filing.
Reliance Infra stock surges 5.43% on the BSE to ₹340.50.
September 30, 2024 10:21
Stock market live today: IPO PRICE SETTLED IN PRE-MATCHING
MANBA FINANCE LTD IPO
ISSUE PRICE: ₹ 120.00
RETAIL LOT : 125 SHARES
LISTING PRICE
BSE: ₹ 150.00
NSE: ₹ 145.00
September 30, 2024 10:21
Stock market live today: LISTING UPDATE - SME
---
WOL3D
IPO PRICE: 150
LOT SIZE: 1000
LISTING PRICE: 180.05(+20.03%)
LISTING GAIN: 30,050/-
LISTING TIME: 09:38:00 AM
---
RAPPID VALVES
IPO PRICE: 222
LOT SIZE: 600
LISTING PRICE: 312(+40.54%)
LISTING GAIN: 54,000/-
LISTING TIME: 09:40:36 AM
September 30, 2024 10:21
Stock market live updates: Sensex, Nifty dip nearly 1%
BSE Sensex plunged 705.21 pts or 0.82% to 84,866.64 as at 10.16 am. Nifty 50 tanked 203.05 pts or 0.78% to 25,975.90.
September 30, 2024 10:20
Stock market live today: Gulf Oil International sells 4.47% stake in Gulf Oil Lubricants to boost market liquidity, shares dip 1.40%
Gulf Oil International (Mauritius) Inc. sold 22,00,000 equity shares (representing only 4.47% of the total issued and paid-up share capital of Gulf Oil Lubricants India Limited in order to increase the free float and liquidity in the secondary market.
Gulf Oil Lubricants India stock declined 1.40% to ₹1,372.05 on the NSE.
September 30, 2024 10:20
Stock market live today: Interarch Building Products acquires land in Gujarat for new facility, shares remain unchanged
Interarch Building Products has acquired 51,926 sq. mts. of land in Gujarat for its new manufacturing facility.
Shares trade flat on the NSE at ₹1,393.50.
September 30, 2024 10:19
Stock market live today: This week’s Global Market Outlook from Alex Volkov, Market Analyst at VT Markets
Market Performance So Far:
The USD/JPY pair has been under scrutiny since Shigeru Ishiba’s election as Japan’s new prime minister, with a drop of over 400 pips reflecting the market’s anticipation of potential policy shifts. Currently, the pair appears to be in a period of consolidation after the sharp decline, with traders focusing on the 144.30 level for signs of bearish price action. The market is still digesting Ishiba’s election and its broader implications, and traders may hesitate to make moves until more concrete policy direction is provided by the new government. Meanwhile, the broader USDX is showing mixed signals, having made a new weekly low on Friday, with traders eyeing this as a potential buying opportunity. The 99.00 level is seen as a critical support zone, and if the dollar index dips to this point, it could trigger a bullish reversal, especially if market sentiment turns in favor of the USD amid perceived risks stemming from Japan’s new foreign policy initiatives.
In terms of the EUR/USD, there is a strong chance the pair could drop further from its current area, with a possibility of making one final push higher before retreating. Traders looking at bullish price action around the 1.1100 or 1.1040 zones may find opportunities, but the overall sentiment appears to lean towards a decline in the near term. GBP/USD is showing a similar pattern, with the potential for the pair to either come down from its current area or make one more push higher before reversing. If it does rise, the 1.3500 level becomes a key resistance point, and bearish price action around this zone will likely set the tone for the following week. However, if the pair declines sooner, the 1.3300 level could provide a solid area for a bullish reaction, offering some short-term opportunities for traders seeking to capitalize on volatility. Lastly, gold has continued its downward movement after testing resistance at 2670, with a potential consolidation expected, and bullish price action around the 2590 area could set the stage for a rebound.
What’s Happening This Week:
As we head into the first week of October, several key economic data points are expected to drive market movements. On Monday, Germany’s Preliminary CPI data is forecasted to come in at 0.1%, following a previous reading of -0.1%, which could influence the EUR/USD pair. On Tuesday, the focus shifts to high-impact U.S. reports, including the ISM Manufacturing PMI, expected at 47.6, and the JOLTS Jobs Opening report, with 7.64 million jobs forecasted. A weaker-than-expected JOLTS report could fuel speculation that the U.S. job market is softening, adding pressure to the dollar. On Wednesday, the ADP Non-Farm Employment Change takes center stage, with a forecast of 124K jobs added, and traders will be watching closely to see whether the actual data meets expectations. A stronger-than-expected ADP figure could reinforce the view that the U.S. labor market remains resilient, while a weaker figure could lead to dollar weakness.
On Thursday, the ISM Services PMI is forecasted at 51.6, and any data supporting a strong U.S. services sector will likely reinforce dollar strength. The end of the week brings the most closely watched reports: Friday’s Non-Farm Employment Change and the Unemployment Rate. The Non-Farm Payroll (NFP) data is forecasted at 144K, and the unemployment rate is expected to hold steady at 4.2%. A stronger-than-expected NFP report, combined with a stable unemployment rate, could drive the dollar higher, while a weaker NFP could lead to dollar softness. Markets will likely respond with heightened volatility around Friday’s release, making it an important day for traders in dollar-denominated assets.
September 30, 2024 10:18
Stock market live today: Welspun Corp secures Middle East order for sour service pipes, shares climb 1.77%
Welspun Corp announced the receipt of order from the Middle East for supply of Coated LSAW Pipes and Bends for sour service.
Shares rise 1.77% on the NSE to ₹753.60.
September 30, 2024 10:17
Stock market live today: NMDC shares gain 4% in early trade
Here is the Live event updates
September 30, 2024 09:48
Stock market live today: V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services on markets outlook
Market is likely to move into a consolidation phase in the near-term. One significant factor that is influen