Stock Market LIVE Updates: Sensex off day's high, up 950 pts, Nifty near 21,200; IT, realty stocks shine

ITDC INIDA EPRESS/ ITDC NEWS: Stock Market LIVE Updates: The US Federal Reserve decided to keep interest rates unchanged and also hinted towards rate cuts in 2024, ushering gains across global markets. The domestic market also opened with strong gains. All sectoral indices traded in the green with the information technology and realty packs leading the gains.

Stock Market Today

MONEYCONTROL.COM

Index Prices Change Change%

Sensex 70,537.48 952.88 +1.37%

Nifty 50 21,193.65 267.30 +1.28%

Nifty Bank 47,776.00 683.75 +1.45%

NIFTY 50 21,188.20 261.85 (1.25%)

THU, DEC 14, 2023

Biggest Gainer Prices Change Change%

Tech Mahindra 1,266.80 50.70 +4.17%

Biggest Loser Prices Change Change%

Power Grid Corp 231.85 -5.10 -2.15%

Best Sector Prices Change Change%

Nifty IT 34190.80 1124.10 +3.40%

Worst Sector Prices Change Change%

Nifty Pharma 16156.40 14.00 +0.09%

Moneycontrol

DECEMBER 14, 2023 / 02:34 PM IST

Stock Market LIVE Update | Suman Chowdhury, Chief Economist and Head – Research, Acuité Ratings & Research

We expect the Fed to act quicker than expected if the data points on the US economy in the current and next quarter show a significant decline in the growth signals. In our opinion, any rate cut before Mar-24 is unlikely but if there are signs of a recession, the Fed is likely to take an accelerated route to lower interest rates. This may also translate into a pivot in the repo rates in India earlier than envisaged in May-June’24 provided, however, the headline inflation stays within the 5% figure. Such an expectation may drive a rally in Indian bond markets

DECEMBER 14, 2023 / 02:27 PM IST

Stock Market LIVE Update | ADB ups India's growth projection to 6.7% for FY24

The Asian Development Bank (ADB) has raised India's growth forecast to 6.7 percent for the current financial year from its earlier projection of 6.3 percent on account of higher-than-expected second quarter numbers.

DECEMBER 14, 2023 / 02:19 PM IST

Stock Market LIVE Update | Mohit Ralhan - CEO, TIW Capital on Fed's dovish pitch

While the Fed decided to keep rates on hold, it did little to push back on the aggressive rate cut pricing by the market participants. Median dot plot for 2024 end showed Fed Funds rate at 4.6%, which was 50 bps lower compared to September projections. The Fed Chair even alluded to the members’ having a discussion on rate cuts.

DECEMBER 14, 2023 / 02:15 PM IST

Stock Market LIVE Update | Mastek stock surges over 7% on dovish Fed; stock rises 54% YTD

DECEMBER 14, 2023 / 02:09 PM IST

Stock Market LIVE Update | David Chao Global Market Strategist, Asia Pacific (ex-Japan) at Invesco

With today’s announcement and press conference, there is far more clarity on monetary policy. Markets have come to assume that the rate hike cycle is over and that we are likely to see rate cuts start in 1H 2024. Markets have started to discount an economic recovery to occur later in 2024 after a somewhat bumpy but brief landing. In this environment, I would expect a growing global risk appetite. I would anticipate smaller-cap stocks and cyclical stocks will outperform and would also anticipate strong performance from investment grade credit and high yield bonds. I would also expect international assets, especially emerging markets, to begin to outperform US assets.