Stock Market Live Updates: Asian markets decline as Federal Reserve signals prolonged higher interest rates

Stocks that will see action today: September 21, 2023

Buzzing Stocks: SJVN, Cipla, Indo Amines, Infosys, Biocon, Exide Industries, West Coat Paper Mills, Apollo Tyres, Ashoka Buildcon, Zydus Lifesciences, Godrej Properties, Bartronics, WPIL, Moneyboxx, Artson Engineerng, Nikhil Adhesives

Day trading guide for September 21, 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 sell today: Ajanta Pharma (₹1,701)

Ajanta Pharma’s share price has a sharp decline over the past few sessions. It fell off the hurdle at ₹1,850 last week and on Monday, the stock closed below a support at ₹1,700. Even though the price went up on Wednesday, the weakness persists, and the rally is likely to be a corrective one. Read more:

Broker’s call: JK Tyre (Buy)

JK Tyre Industries Ltd (JKI) is the flagship company of JK Organisation and is the country’s third largest and globally among top 25 tyre makers. The company’s product portfolio includes automotive tyres for two-wheelers (2W), three-wheelers (3W), passenger cars, utility vehicles (UVs), trucks & buses and off-the-highway (OHT) vehicles.

Share Market Updates: Broker’s call: Senco Gold (Buy)

Senco Gold boasts of being one of the top-2 as regards revenue share in the ₹80,000 crore eastern market, abetted by strongest brand accessibility vs peers, in terms of product, price & penetration. Growth headroom is huge, as its market share is still at a mid-single-digit in the East, and focused efforts are afoot to capitalise on non-East prospects.

Stock Market Live Updates: Asian markets decline as Federal Reserve signals prolonged higher interest rates

Asian stock markets declined, and the U.S. dollar gained strength on Thursday following the Federal Reserve’s indication of prolonged higher interest rates.

Japan’s Nikkei 225 index dropped by 0.79% to reach 32,761.51, and Topix fell by 0.4% to 2,396.53. South Korea’s Kospi index experienced a 1.19% decline, reaching 2,529.68. Meanwhile, Australia’s S&P/ASX 200 recorded a 0.79% decrease, settling at 7,106.60.

The Federal Reserve kept its target range between 5.25% and 5.5%, and updated quarterly projections revealed that majority of officials favoured another rate hike in 2023. Additionally, policymakers anticipated less monetary easing next year

Stock Market Live Updates: U.S. stocks tumble as Fed keeps rates unchanged, warns of ongoing inflation battle

On Wednesday, U.S. stocks slumped as the Federal Reserve, as expected, held key interest rates steady while revising economic projections higher. Despite the rate stability, major indexes, including the Nasdaq, declined. The Fed’s projections indicate a possible 25 basis point rate hike later this year and a subsequent 50 basis point rate cut next year. Core inflation, although moderating, remains above the 2% target, with year-end expectations at 3.3%.

The Dow Jones Industrial Average fell 76.85 points, or 0.22%, to 34,440.88, the S&P 500 lost 41.75 points, or 0.94%, to 4,402.2 and the Nasdaq Composite dropped 209.06 points, or 1.53%, to 13,469.13.