Stock market News
Market Update on Ganesh Chaturthi: Gold Shines, UNESCO Recognition, and Stock News
Today, the Indian stock market took a pause in celebration of Ganesh Chaturthi. However, amidst the festivities, the gold market remained open for an evening session. Across Asia, most markets were in the red, with the exception of Hong Kong.
In other notable news, ‘Sacred Ensembles of the Hoysalas’ in Karnataka earned a prestigious spot on the UNESCO World Heritage List. Additionally, a reminder that September 30th is the deadline for submitting the old Rs 2,000 notes.
Now, let’s take a look at some of the top stories in the world of stocks:
- JK Lakshmi is set to acquire a 21% stake in Amplus Helios for Rs 22 crore.
- Tata Motors plans to raise prices for commercial vehicles by up to 3%.
- HDFC Bank received RBI approval for the re-appointment of Sashidhar Jagdishan as MD and CEO.
- Reliance has launched Jio AirFiber, making waves in the telecom industry.
Here’s a quick snapshot of the day’s market changes:
- Gold rose by 0.93% to reach Rs 59,357 at 6 PM.
- Silver followed suit with a 1.06% increase, reaching Rs 72,932 at 6 PM.
- The USD-INR exchange rate remained steady due to the holiday.
- Dow Jones showed a slight 0.02% increase on September 18th.
- Nasdaq saw a modest 0.01% rise on the same day.
For those keeping an eye on the currency market, a decrease in the USD-INR rate signifies the strengthening of the Indian Rupee against the US dollar, indicated in green. Conversely, an increase represents a weakening Rupee, displayed in red.
In the long-term perspective, here are the 20-year returns for major indices:
- Sensex: HOLIDAY
- Nifty: HOLIDAY
- Dow Jones: 6.71% p.a.
- Nasdaq: 10.55% p.a.
And now, our Word of the Day:
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