US stocks shot higher on Wednesday after the Federal Reserve cut interest rates by 50 basis points, the high side of estimates for its first cut in more than four years.

Citing a "greater confidence" that inflation is moving towards the central bank's 2% target, the Fed cut rates by half of a percentage point, as it now focuses on keeping the labor market healthy.

Market capitalisation of major telecom service provider Bharti Airtel crossed Rs 10 trillion for the first time ever after the company's stock price hit a new high of Rs 1,673.35, gaining 1 per cent on the Bombay Stock Exchange (BSE) in Thursday’s intra-day trade.

The combined market cap of Bharti Airtel (Rs 9.52 trillion) and Bharti Airtel’s partly paid shares (Rs 49,526 crore) touched Rs 10.02 trillion in intra-day trade.

NTPC in focus: Share of the state-owned NTPC jumped as much as 4.34 per cent to hit a fresh all-time high of Rs 431.85 per share on Thursday, September 19, 2024. Notably, NTPC is the top gainer on both NSE and BSE.

The surge in the NTPC share price came after the company filed Initial Public Offering (IPO) papers for its green energy arm, NTPC Green Energy Limited (NGEL).

The rupee rose 6 paise to 83.70 against the US dollar in early trade on Thursday, reflecting strong investor sentiment after the US Federal Reserve decided to cut interest rate in line with market expectations.

The rupee also got support from lower crude oil prices, positive domestic equity markets as well as inflow of foreign funds, forex traders said.

The Federal Reserve cut interest rates by half of a percentage point on Wednesday, kicking off what is expected to be a steady easing of monetary policy with a larger-than-usual reduction in borrowing costs that followed growing unease about the health of the job market.

"The committee has gained greater confidence that inflation is moving sustainably toward 2%, and judges that the risks to achieving its employment and inflation goals are roughly in balance".

West Bengal Junior Doctors Front, which is protesting against the rape and murder of a doctor at a Kolkata hospital, has sent an email to the state Chief Secretary requesting one more meeting as some demands remained unresolved.

Following the meeting with the protesting doctors on Tuesday, the West Bengal government accepted some of their demands including the removal of the police chief of Kolkata and two senior health officials.

Tata Consultancy Services (TCS), India's largest IT services company, said on Wednesday it has signed a two-year partnership with McDonald Philippines to upgrade technology used by the fast-food chain.

The deal size was not disclosed. TCS signed the agreement with George Yang-led Golden Arches Development Corporation (GADC), the master franchise holder of McDonald's in the Philippines.

The first phase of voting in Jammu and Kashmir saw a cumulative voter turnout of 11.11 per cent as of 9 am on Wednesday, as per the Election Commission of India.

According to the latest data issued by ECI, Kishtwar recorded a voter turnout of 14.83 per cent as of 9 am taking the lead while Pulwama recorded 9.18 per cent voter turnout.

Former president Donald Trump has said Prime Minister Narendra Modi will meet him next week during his upcoming three-day visit to the US. PM Modi will be visiting the US from September 21 to 23, beginning his trip with the Quad Leaders' Summit being hosted by President Joe Biden in Wilmington, Delaware.

The summit will be attended by Prime Minister Anthony Albanese of Australia and Prime Minister Kishida Fumio of Japan.

Delhi Chief Minister Arvind Kejriwal has resigned from his post and tendered his resignation to Delhi LG Vinai Kumar Saxena. Atishi to take over as the next CM of Delhi. The duo AAP leaders met Delhi Lieutenant Governor VK Saxena on Tuesday evening. Atishi has staked claim to the top post.

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