Stock Market

Sensex Today | Stock Market LIVE Updates: Tech Mahindra, Wipro, NTPC, Reliance Industries, Infosys were among major gainers on the Nifty, while losers were Asian Paints, Titan Company, Bajaj Finance, JSW Steel and IndusInd Bank. except metal, FMCG, pharma, all other sectoral indices are tarding in the green.

Sensex Today | Stock Market LIVE Updates: NIfty 50 ended the previous trade session 1.41% lower and 466.5 points below its recent record high of 26,277.35.

At market open, the BSE Sensex was at 84,429.72, up 129.94 points (0.15%), while the Nifty 50 was at 25,857.30, up 46.45 points (0.18%).

Out of 30 stocks on the Sensex, 8 were down, with Asian Paints leading the losses (down 0.99%), followed by JSW Steel, Tata Steel, Titan Company, and Hindustan Unilever.

On the Nifty 50, Tech Mahindra was the top gainer (up 2.51%), along with Mahindra & Mahindra, Larsen & Toubro, Infosys, and Wipro. However, Asian Paints again showed a drop (down 1.67%), along with JSW Steel, Tata Steel, Hindalco, and Sun Pharma.

Most sectoral indices were doing well, especially the IT index, which rose by 0.89%. On the flip side, the Metal index dropped by 0.40%, and sectors like FMCG and Health also fell.

The broader markets were up, with BSE SmallCap gaining 0.35% and BSE MidCap climbing 0.14%.

Last Monday, though, the Sensex and Nifty 50 ended over 1% down due to profit booking. The Sensex fell 1,272.07 points (1.49%) to 84,299.78, while the Nifty dropped 368.10 points (1.41%) to 25,810.85. The broader market indices also finished in the red, with the Nifty Midcap 100 and Smallcap 100 down 0.38% and 0.32%, respectively.

The fear index, India VIX, increased by 6.89% to 12.79. Auto stocks were the hardest hit, with the Nifty Auto index dropping 2%. Other sectors like Bank Nifty and Financial Services also fell over 1%. Surprisingly, Media and Metal indices bucked the trend, ending up 1.33% and 1.12%, respectively.

Starting today, October 1, the NSE and BSE are implementing new transaction charges as directed by the Securities and Exchange Board of India (Sebi). For equity options, the NSE will charge Rs 3,503 per crore of premium value per transaction, while the BSE adjusts its charges for Sensex and Bankex options to Rs 3,250. Also, Finance Minister Nirmala Sitharaman announced an increase in Securities Transaction Tax (STT) for futures and options trading.

In the Asia-Pacific region, markets were mixed following comments from Federal Reserve Chair Jerome Powell, who suggested that future rate cuts wouldn't be as aggressive. Many markets, including South Korea, Hong Kong, and mainland China, were closed for a public holiday, while China's markets will remain closed for Golden Week celebrations.

Japan’s Nikkei 225 saw a sharp rebound, gaining 1.73% after a 4.8% decline on Monday, while Australia’s S&P/ASX 200 fell 0.47%, pulling back from an all-time high.

In other global news, the MSCI global equities index fell, and the dollar rose as Powell's comments dampened hopes for a significant rate cut. Oil prices were stable after concerns over Middle Eastern conflicts, but Brent crude saw its biggest monthly loss since November 2022, down 17% in the third quarter.

Overall, while stocks showed some volatility, the market sentiment seems to be cautiously optimistic amid various economic indicators and updates.

SpiceJet climbs nearly 4% as Plutus Wealth buys 0.66% stake in airline:

Plutus Wealth Management acquired 85 lakh shares of SpiceJet, representing a 0.66 per cent stake, for around Rs 51 crore at an average price of Rs 59.95 per share.  

SEBI decides to introduce new asset class, amends insider trading rules

The markets regulator Sebi's board approved new asset classes for high-risk investors and relaxed rules for passively managed mutual funds to reduce compliance. They also approved amendments to insider trading rules and eased criteria for investment advisers. Additionally, the board proposal introduces "summary proceeding" for handling violations and rationalizes disclosure requirements in offer documents.

The board of directors of market regulator Sebi on Monday approved a proposal to introduce a new asset class for high-risk investors.

A minimum investment of Rs 10 lakh can be made per investor in this new asset category.

The introduction of this new investment option will bring flexibility in asset creation and help bridge the gap between mutual funds and portfolio management services (PMS).

A total of 17 proposals were approved in the meeting of the Board of Directors of SEBI. These include amendments in the insider trading rules and relaxation in eligibility criteria and compliance conditions for investment advisors and research analysts.