Top News Today: Nifty, Sensex slide; One Nation One Election gets Cabinet nod

Top News on September 18: On September 18, Nifty 50 and Sensex experienced minor declines amid volatile trading. PM Modi’s Cabinet approved the ‘One Nation, One Election’ initiative, while the US Fed is expected to announce a rate cut after its meeting.
The Nifty 50 ended the session with a 0.16 per cent drop at 25,377 points. Likewise, the S&P BSE Sensex has also concluded the trade at 82,968 points, 0.13 per cent lower than the previous close. READ HERE
The US Federal Reserve will announce its sixth interest rate decision for 2024 on September 18 after a two-day Federal Open Market Committee (FOMC) meeting. The US central bank is widely expected to reduce its borrowing costs by 25 basis points (bps) or 50 bps from the current 5.25 per cent – 5.50 per cent for the first time in four years. READ HERE
The Union Cabinet, led by Prime Minister Narendra Modi, on Wednesday approved the implementation of the ‘One Nation, One Election’ in India. The decision follows the presentation of a comprehensive report by a high-level committee on the proposal. The bill is likely to be introduced in Parliament during the upcoming winter session. READ HERE
Hezbollah faced a major blow when pager explosions in Lebanon and Syria killed 11 people and injured over 4,000. The blasts, which occurred amid rising tensions with Israel, were linked to tampered devices from Budapest-based BAC Consulting KFT. READ HERE
The Paytm stock has been on a recovery trajectory since hitting its all-time low of ₹310 per share and has surged by 121% to date. The stock rebounded in June with an 11.4% increase. It continued to perform well, with gains of 23% and 26% in the following two months. READ HERE
Citing “fundamental and unforeseen” changes in the circumstances, India has sent a formal notice to Pakistan to seek a review of the Indus Water Treaty (IWT). READ HERE
Anna Sebastian Perayil had worked at the EY Pune office for four months before she succumbed to ‘work-related stress’. The mother of the deceased young woman had sent a mail to EY India Chairman Rajiv Memani flagging the ‘glorification’ of overwork at the multinational consulting firm. READ HERE