Market Overview
As of September 19, Indian benchmark indices Sensex and Nifty are witnessing a positive trend. Currently, Nifty is positioned at approximately 25,565.95, reflecting a gain of 189.70 points or 0.75 percent. In tandem, Sensex stands at around 83,573.48, up by 663.14 points or 0.80 percent. Although both benchmarks reached new record highs on September 18, they struggled to sustain the momentum, closing lower in the previous trading session. Specifically, Sensex registered a decline of 131.43 points (0.16 percent) to settle at 82,948.23, while Nifty concluded the day at 25,377.50, down by 41.00 points (0.16 percent).
Market Today: GIFT Nifty Performance
The GIFT Nifty index showed a flat opening in the morning but has since shifted to an upward trend. It is currently hovering around 25,612, marking a gain of 208 points or 0.81 percent.
U.S. Interest Rate Changes
In a significant shift, loans in the United States have become cheaper for the first time in four years, following a 0.5 percent reduction in interest rates by the U.S. Federal Reserve. Fed Chairman Jerome Powell announced that this decision was largely influenced by a noticeable decline in inflation rates, eliminating concerns of a potential recession in the economy. Analysts are also optimistic, anticipating another possible rate cut of 0.50 percent by the end of the year.
Global Market Reactions
The global markets have reacted diversely to the Fed’s recent decision on interest rates. While the Nifty index remains flat, Japan’s stock market has surged by 2 percent. U.S. futures are also showing a moderate gain of half a percent. However, recent trading in the U.S. markets observed profit booking, with major indices such as the Dow, Nasdaq, and S&P 500 all declining by approximately 0.25 percent.
Key Corporate News
In major corporate news, NTPC’s subsidiary, NTPC Green Energy, has filed for an IPO worth ₹10,000 crores, set to issue entirely new shares, requiring NTPC shareholders to allocate for the shareholder quota. Additionally, IREDA has received regulatory approval to raise ₹4,500 crore via Qualified Institutional Placement (QIP), resulting in a 7 percent reduction in government stake, decreasing it to 68 percent.
Tax Collection and Investment Insights
Tax collection has significantly surged in the ongoing financial year, with advance tax figures increasing by 22 percent from April 1 to September 17, totaling ₹4.36 lakh crore. Direct tax collections have also risen by 16 percent compared to the previous year, indicating a healthy economic environment.
Foreign and Domestic Institutional Investments
On September 18, foreign institutional investors (FIIs) purchased equities worth ₹1,153 crore, signifying a robust investment trend. Domestic institutional investors (DIIs) also participated in the market by acquiring equities worth ₹152 crore on the same day.
| Index | Current Value | Change (Points) | Percentage Change |
|---|---|---|---|
| Nifty | 25,565.95 | +189.70 | +0.75% |
| Sensex | 83,573.48 | +663.14 | +0.80% |
| GIFT Nifty | 25,612.00 | +208.00 | +0.81% |
