Latest Financial News & Market Updates
- The US Federal Reserve raised its benchmark interest rate by 25 basis points on Wednesday, marking its first rate hike since 2023 as policymakers reinforced their commitment to bringing inflation back to the 2% target. The move was widely expected by markets amid persistent price pressures and rising energy costs.
- The petrol export levy has been cut by ₹1 a litre, while diesel and ATF levies have been reduced by ₹5 and ₹4, respectively, from September 16.
- The move could give exporters more certainty as the government seeks to cushion businesses from rising costs and weak global demand.
- GTRI claims Russian Oil Tariff Bill is a "blunt and dangerous attempt to pressurize India." US House to vote on bill allowing 100% tariffs on countries buying Russian oil, including India.
- The Fed dot plot offers a snapshot of where Federal Open Market Committee (FOMC) participants individually expect the federal funds rate to be over the coming years. It is closely watched by financial markets because it can show how policymakers’ expectations for interest rates are changing.
- Effective October 15, UPI payments to merchants (P2M) above ₹2,000 will attract a 0.4% merchant discount rate with an overall cap of ₹300. Besides, a flat concessional MDR rate of ₹5 would be applicable on specific merchant categories such as railways, telecom services, insurance, and fuel for transaction above ₹2,000.
- The exemption is aimed at cutting paperwork for MSMEs, artisans and first-time exporters, particularly those using e-commerce, postal and courier channels.
- The government has approved seven companies to import 642 cars from the UK under the India-UK trade pact, while one application has been returned for rectification, Commerce Ministry sources said.
- Sajjid Chinoy, Head of Asia Economic Research at JPMorgan, expects possible RBI rate hikes in October and December, while Sanjay Mookim, Head of India Equity Research at JPMorgan, highlights global risks facing Indian equities.
- The India-New Zealand Free Trade Agreement has cleared the New Zealand Parliament with a 93-29 vote, moving the bilateral trade pact closer to implementation.
- NSE IPO: Retail investors required to make a minimum investment of ₹14,280 at the upper end of the price band to bid for one lot. Bids can subsequently be made in multiples of eight shares.
- The Fed's 25 bps rate hike was largely priced in. What stood out was the central bank's acknowledgement that inflation remains stubborn and that further tightening may still be needed.
- US Fed Meeting Highlights: In a set of quarterly projections, the Fed also signalled that its rate-setting committee expects to hike rates a second time later this year to 4.1%. "Today's policy action will support a timelier return” to the central bank’s 2% inflation goal, the Fed said in a statement.
- US stocks fell after the Federal Reserve hiked interest rates for the first time in three years and central bank Chairman Kevin Warsh highlighted persistent inflation. Investors await key US economic data. FIIs sold Indian equities worth ₹2,032.61 crore. Oil prices surged due to supply threats and the Iran war.
- Shares of G R Infraprojects Ltd ended at ₹820.00, down by ₹18.05, or 2.15%, on the BSE.
- The US Federal Reserve raised its benchmark interest rate by 25 basis points on Wednesday, marking its first rate hike since 2023 as policymakers reinforced their commitment to bringing inflation back to the 2% target. The move was widely expected by markets amid persistent price pressures and rising energy costs.
- The Federal Reserve raised its federal funds rate target and hiked the interest rate on reserve balances to 3.90%, along with a quarter-point increase in the primary credit rate to 4.0%, effective September 17.
- The NSE IPO anchor book has attracted over 180 investors, with LIC emerging as the largest single investor with a ₹450 crore allocation. FPIs accounted for around 43% of the anchor book.
- The stock gained as investors assessed Dell’s exposure to AI infrastructure beyond GPUs, with Axelera’s Europa processor set to feature in future Dell systems alongside the company’s large AI-server backlog.
- From Krsnaa Diagnostics executing a 15-year concession agreement with the Punjab Health Systems Corporation to Juniper Hotels approving the proposed acquisition of the operating Novotel Imagicaa hotel in Khopoli, Maharashtra, here are the stocks to track ahead of Thursday’s trading session.