Sebi's board saw changes with V Ravi Anshuman and Manoj Govil exiting, the latter being replaced by Deepti Gaur Mukerjee. Also, Sebi's chief, Madhabi Puri Buch, faced allegations linked to the Adani Group by Hindenburg Research. The board will soon discuss these allegations at an upcoming meeting.
Federal Reserve officials leaned towards reducing the benchmark interest rate in September, assuming inflation keeps declining. Minutes from the July meeting indicated likely policy easing, with Chair Jerome Powell expected to provide more details in an upcoming speech. Recent economic data presents a mixed picture, affecting trader expectations and economic sentiment.
Crude oil's sharp drop paused as expectations of a Federal Reserve rate cut balanced weak economic indicators from the U.S. and China. Brent and WTI crude saw minor fluctuations after both fell more than 1% the previous session. Anticipated U.S. interest rate cuts sparked market attention, supported by recent Fed meeting minutes.
The dollar hit its lowest levels against the euro and sterling in over a year due to a dovish Federal Reserve and weak U.S. job market data. Upcoming speeches from Fed Chair Jerome Powell and Bank of Japan's Governor Ueda are highly anticipated for insights on future interest rate policies.
Donald J. Trump's golf club in Jupiter, Florida, where multi-million-dollar villas border the greens of an 18-hole course, highlights the Trump Organization's recent shift from its traditional New York base to Florida's southeast coast. This transition reveals a change in the company's financial landscape, with golf and resort properties now leading its revenue streams.
On Wednesday, U.S. stocks saw modest gains as investors reacted to a major payroll data revision and awaited minutes from the latest Federal Reserve meeting. The Fed is likely to cut rates in September. Stocks of Target and TJX increased due to strong forecasts, while Macy's shares fell after lowering its sales forecast.
Nifty gained 71 points to close at 24770 on Wednesday. Attention is on Fed Chair Powell's Friday speech at the Jackson Hole Symposium. Hopes for rate cuts are driving market sentiment, which is likely to consolidate this week. India VIX fell by 3.53% to 13.33 levels.
On Wednesday, Minnesota Governor Tim Walz will accept the Democratic nomination for vice president, setting the stage for a showdown with former President Donald Trump in the 2024 U.S. election. With 11 weeks remaining until Election Day, Walz, a 60-year-old military veteran, former high school teacher, and football coach, will share his personal story of growing up on a Nebraska farm. He will also address concerns about the freedoms Democrats argue are being threatened by Trump's third bid for the presidency.
The Federal Reserve signaled a potential interest rate cut in September following a significant majority of officials supporting such a move at the July meeting. With increasing unemployment and easing inflation, financial markets anticipate a series of rate cuts. The decision may be finalized depending on incoming economic data and job market performance.
Asian stocks saw a rise as markets anticipated key announcements from the Federal Reserve and Bank of Japan. The MSCI Asia Pacific Index increased by 0.2%, with gains observed in Japan, Australia, and South Korea. Fed minutes suggested a potential rate cut, and China launched an anti-subsidy probe into EU dairy imports, escalating trade tensions.
Paytm on Wednesday said it will sell its entertainment ticketing business to Zomato for Rs 2,048 crore. Details on this deal and more in today’s ETtech Morning Dispatch.
Markets increased on Wednesday. Zomato approved a deal with Paytm. Coal India pursued lithium acquisitions. Zen Technologies launched a QIP. BEML signed an MoU with the Indian Navy. IREDA considered raising funds. Welspun Enterprises, Alkem Laboratories, India Grid Trust, and Cyient also saw notable activities.
RIL and Disney, which are seeking to complete the merger by October, have been scouting for ways to assuage the regulator's concerns about the potential impact of the merger on the Indian media and entertainment (M&E) industry.
Premji Invest and Claypond Capital discussed a $125 million investment for a minority stake in Akasa Air, valuing the airline at over $350 million. This funding would help Akasa expand and manage aircraft payments. The Jhunjhunwala family and CEO Vinay Dube's stakes will be partially diluted, with the Jhunjhunwala family remaining the largest shareholder.
Bluestone, a jewellery retailer, completed a Rs 900-crore funding round, boosting its valuation to $970 million. Key investors included Prosus and Peak XV Partners. Kalaari Capital – one of the early investors in the Bengaluru-based firm – has earned about Rs 300 crore by selling a part of its stake.
There was a time when the midcap segment of the market was one of the most vulnerable segments of the market. The reason, lack of participation by domestic institutional investors. In the last one year, things have changed dramatically. Continuous flows to midcap mutual fund schemes has ensured that even at a time when valuations are expensive, midcap as a segment is able to outperform. As on date, unless and until there is a sustained selling in large cap and that too due to global reasons, the... Читать дальше...
Singapore-headquartered renewable energy firm Sembcorp will invest Rs 36,238 crore for the establishment of a green hydrogen and green ammonia manufacturing unit in Tuticorin district. This will make Tamil Nadu the first state in the country to roll out commercial production of hydrogen molecules.
More mid-cap stocks are joining the momentum bandwagon
Piyush Goyal, India's Commerce Minister, criticized Amazon's $1 billion investment, suggesting it masks predatory pricing and doesn't benefit the economy. He raised concerns about ecommerce disrupting small retailers and questioned a report suggesting no impact on traditional retail jobs. Goyal called for cautious regulation and the need to understand ecommerce's role better.
SBI Life Insurance Company experienced a 20% surge in the last three months, hitting a record high in early August before declining. Experts indicate the stock may continue its uptrend. Short-term traders should consider buying at Rs 1,750-1,730, with price targets of Rs 1,840-1,900 and a stop loss below Rs 1,660.
US stock indexes -- S&P 500, Dow Jones, and Nasdaq -- have closed in green as Ford, Walmart stocks rose.
"The Boys" season 4 on Amazon Prime Video is streaming now as fans are waiting for "The Boys" season 5 release date.
Cristiano Ronaldo's Al Nassr will play their Saudi Pro League's first match on Thursday.