Markets decline in early trade; IT stocks drag
The Hindu
Equity indices dip after record rally, IT stocks drag, awaiting U.S. Fed's interest rate decision.
Benchmark equity indices declined in early trade on Wednesday (September 18, 2024) after a record rally, dragged by IT stocks and sluggish global market trends, ahead of the much-awaited U.S. Fed's decision on interest rates.
The 30-share BSE Sensex declined 130.24 points to 82,949.42. The NSE Nifty dipped 37.75 points to 25,380.80.
From the 30 Sensex firms, Tech Mahindra, Infosys, Tata Consultancy Services, HCL Technologies, Asian Paints and Sun Pharma were the biggest laggards.
Bajaj Finance, ITC, Bajaj Finserv and HDFC Bank were among the gainers.
In Asian markets, Tokyo traded higher while Shanghai quoted lower.
The U.S. markets ended on a mixed note on Tuesday.
"The significance of the Fed rate decision expected tonight is evident from the wait and watch market mood across the globe yesterday. Perhaps more important than the Fed action would be the Fed commentary and the message," said V.K. Vijayakumar, Chief Investment Strategist, Geojit Financial Services.
Amazon said it held discussions with some vendors about adjusting costs to reflect the reduction in tariff rates
PFRDA seeks tax neutrality across all NPS payout plans to enhance customer choice and meet diverse pension needs.
Garuda Aerospace and BEL sign MoU to collaborate on supplying advanced drones for India's Defence Forces and security agencies.
Stock markets remain flat amid volatility, with foreign investors selling off equities while domestic buyers show activity.
Microsoft said Tuesday it will shoulder the full electricity costs of its US data centres to prevent American households from facing higher power bills driven by surging AI
The GPU sector is dominated by Nvidia, now the world's most valuable company thanks to frenzied global demand and optimism for AI.
1.2L Turbocharged iTurbo Revotron engine and a twin-cylinder iCNG technology paired with an AMT gearbox.
The Passenger Vehicle PV) segment clocked its highest-ever sales in a calendar year 2025 (CY25) at 44.90 lakh units, growing 5% Year on Year (YoY) driven by Q3 offtake, according to the data released by the Society of Indian Automobile Manufacturers (SIAM) on Tuesday.
Human + AI will define the future of work and nearly all HR leaders (97%) anticipate that by 2027, the nature of work will be shaped by humans working alongside AI rather than engaging with it only intermittently, said a Nasscom study conducted in association with Indeed, a US-based job site.
Central bankers express unity with Fed Chair Powell, emphasizing the importance of central bank independence amid political pressures.
Rice exporters urge India's Commerce Ministry for assistance in clearing payments amid Iran's civil unrest impacting trade.
PFRDA forms an expert committee to create a framework for assured payouts under the National Pension Scheme (NPS).
Petroleum Minister Hardeep Puri discusses LNG, LPG, and green hydrogen cooperation with British Columbia's Premier to enhance India-Canada energy partnership.