Stock Market Live Updates: Asian stocks slide on Fed’s signal of prolonged higher interest rates

Financial Markets Live Today: RBI introduces Basel-III capital framework for All India Financial Institutions

The RBI has introduced norms on the Basel III capital framework, fund raising, exposure guidelines, and norms on classification and valuation of investment portfolios for All India Financial Institutions (AIFIs), which will come into effect from April 2024.

India has five AIFIs regulated by the central bank, namely the Export-Import Bank of India (EXIM Bank), the National Bank for Agriculture and Rural Development (Nabard), the National Bank for Financing Infrastructure and Development (NaBFID), the National Housing Bank (NHB), and the Small Industries Development Bank of India (SIDBI).

Stocks to Watch: Infosys Finacle selected for Guaranty Trust Bank’s digital transformation project

Infosys Finacle, part of EdgeVerve Systems, a wholly-owned subsidiary of Infosys and Nigeria’s Guaranty Trust Bank (GTBank), the banking subsidiary of Guaranty Trust Holding Company, announced that Guaranty Trust Bank has selected the Finacle Digital Banking Suite for its multi-country digital transformation program.

Stock Market Live Today: Regulatory Move: SEBI eases norms for large corporates tapping debt market

The Securities and Exchange Board of India (SEBI) has provided for a number of relaxations to large corporates (LCs) for meeting their financing needs from the debt market.

The regulator had mandated LCs to meet 25 per cent of their financing needs from the debt market, with an aim of deepening the corporate bond market in India. The move would also aid investors such as insurers, pension and provident funds which are required to invest a particular percentage of their incremental receipts in corporate bonds and could be hurt by lack of supply of issuances.

Stock Market Live Today: Technicals: Day trading guide for September 22, 2023: Intraday supports, resistances for Nifty50 stocks

Day Trading Guide gives you the key intraday supports and resistances to watch out for on the Nifty Futures and other widely traded stocks such as Reliance Industries, Infosys, HDFC Bank, TCS, SBI. Based on the trend, it also gives intraday trade recommendations with specific entry as well as stop-loss levels. The mentioned resistances and supports will be the exit levels.

Stock to buy today: Hindustan Petroleum Corporation (₹263.55): BUY

Hindustan Petroleum Corporation Limited (HPCL) stock is getting ready for a fresh rally in the coming days. The stock has been consolidating and forming a strong base above ₹250 since the beginning of this month. The 200-Day Moving Average (MA) at ₹252 has been strong support all through this consolidation phase. Read more

Financial Markets Live Updates: JPMorgan to include India in emerging market debt index, opening doors for billions in investments

JPMorgan on Friday said it will include India in its widely tracked emerging market debt index, setting the stage for billions of dollars of inflows into the world’s fifth-largest economy.

India’s local bonds will be included in the Government Bond Index-Emerging Markets (GBI-EM) index and the index suite, benchmarked by about $236 billion in global funds according to JPMorgan…. Read more

Stock Market Live Updates: Asian equities drop on Federal Reserve’s rate hike signal

In the opening trade, Asian equity benchmarks saw a decline. Japanese stocks, in particular, started Friday on a lower note, influenced by the recent drops on Wall Street and with investors eagerly awaiting the conclusion of the Bank of Japan’s policy meeting. On Thursday, stocks across Asia experienced declines, while the U.S. dollar strengthened, following the Federal Reserve’s indication of prolonged higher interest rates.

The benchmark Nikkei 225 index experienced a 0.98% decline, equivalent to 319.82 points, settling at 32,249.21 during early trading. Meanwhile, the broader Topix index dropped 0.81%, or 19.37 points, reaching 2,364.59. The Korea Composite Stock Price Index (KOSPI) displayed weakness, falling by 0.82% or 20.33 points to 2,494.23. Australia’s S&P/ASX 100 also recorded a decline of 1.13%, equivalent to 67.2 points, bringing it to 5,868.8.

Stock Market Live Updates: Wall Street plunges amid Fed’s caution on monetary policy and inflation concerns

On Thursday, Wall Street experienced a significant decline in a widespread sell-off due to concerns that the Federal Reserve might maintain its stringent monetary policies for an extended period.

All three major U.S. stock indices plummeted by over 1%, and the 10-year U.S. Treasury yields reached a 16-year high. This came after Fed Chairman Jerome Powell cautioned that inflation still has a considerable distance to cover before reaching the central bank’s 2% target.

Specifically, the Dow Jones Industrial Average dropped by 370.46 points (1.08%) to 34,070.42, the S&P 500 shed 72.2 points (1.64%) to 4,330, and the Nasdaq Composite declined by 245.14 points (1.82%) to 13,223.99.