FIRST TRADE: Sensex up 100 pts, Nifty above 19,750; PNB Gilts jumps over 13%

Stock market today: The domestic equity market opened on a subdued note on Friday, September 22, tracking their Asian peers, following a sell-off in the US markets in the overnight trade on fears that interest rates will stay higher for longer. However, it gained momentum minutes later. The investor sentiment got a boost after the news that JPMorgan will include Indian bonds in the emerging market debt index.

Last seen, the S&P BSE Sensex traded 116 points, or 0.17 per cent higher at 66,346.10 levels while the NSE's Nifty was up 20 points, or 0.1 per cent at 19,762.05 points.

In the broader market, the Nifty Mid Cap 100 and Small Cap 100 opened in positive territory. 

Nifty Bank opened 0.29 per cent higher at 44,752.05.

BUZZING STOCKS

PNB Gilts shares were up over 14 per cent after reports about India being a part of JP Morgan's Global Bond Index from June 28, 2024.

India Cements shares were up over 1 per cent after the company entered into an agreement with UltraTech Cement for the sale of land.

RVNL shares were up over 1 per cent after the company formed a Joint Venture with the National Highways Authority of India.

Conversely, Wipro shares were down over 1 per cent after the company's Chief Financial Officer (CFO), Jatin Pravinchandra Dalal resigned from the position, and Aparna Iyer was appointed as the new CFO.

Glenmark Pharma shares were down over 4 per cent and Glenmark Life Sciences shares were down over 1 per cent after an agreement was signed with Nirma Limited for the share sale. 

GLOBAL MARKETS 

Asian stocks and bonds were under pressure on Friday as investors hunkered down for US interest rates to stay higher for longer, while waiting to see whether the Bank of Japan might cap a busy week by charting a course out of its ultra-easy monetary policy.

MSCI's broadest index of Asia-Pacific shares outside Japan fell 0.4 per cent to touch a 10-month low.

The S&P 500 (.SPX) dropped 1.6 per cent overnight and is down 2.7 per cent in a week when policymakers were at pains to sound hawkish, even if a peak in rates is near.

(With agency inputs) 

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