Big movers on D-Street: What should investors do with Bajaj Auto, L&T Tech and BSE?
Benchmark Sensex fell by 318 points and Nifty slipped below 25,000 on Wednesday due to foreign fund outflows and weak global trends. Stocks in focus were Bajaj Auto, LTTS, and BSE. Bajaj Auto saw a slight rise, LTTS faced bearish pressure, while BSE shares declined significantly. Analysts suggest various actions for investors.
Dollar hovers near 11-week high, eyes on China property briefing
The dollar remained near an 11-week high due to U.S. election uncertainty and a resilient economy. Meanwhile, China’s press conference on its property sector is awaited. The Australian dollar fell to a one-month low. The euro and sterling were also weak as markets eye decisions from major central banks.
Dow ends at another record high as Wall Street buoyed by banks, small-caps
Dow Jones closed at a record high on Wednesday. Other Wall Street indexes also ended higher, despite declines in tech shares, driven by gains in small-caps and financial stocks. Morgan Stanley hit a record close with strong earnings. Investors showed interest in financial stocks due to a favorable rate environment.
As rupee slides, RBI weighs securities threat on Bond Street
Officials from RBI’s Financial Markets Regulation Department (FMRD) have informally spoken to banks, particularly foreign lenders, to gauge unwinding of overseas trading positions in Indian debt markets, including those taken in certain interest rate derivatives, people aware of the matter told ET.
Asian stocks advance after US small-cap rally
Shares in Japan and Australia rose. An index of US-listed Chinese companies rose almost 1% Wednesday in a sign the country’s equities may bounce after two daily declines, as investors digest support measures for the country’s second-largest economy.
Afcons Listing: Goswami Infra asks bondholders for more time
In a communication to bondholders, Goswami Infratech assured that it is not seeking a waiver on pricing conditions for its ₹14,300 crore non-convertible debentures (NCDs) but is asking for more time to meet capital market regulations. Additionally, the company has requested flexibility to sell remaining Afcons shares post-IPO, with proceeds earmarked for debt repayment.
BlackRock in talks with Jio Financial Services for India private credit venture
BlackRock Inc., the world’s largest asset manager, is negotiating with Mukesh Ambani’s Jio Financial Services to establish a 50-50 joint venture focused on private credit in India. This venture aims to lend to a range of businesses, from large corporations to startups. If finalized, it would mark BlackRock’s third collaboration with Ambani’s firm.
HDFC AMC’s Q2 show fuels rally in MF stocks
Aditya Birla Sun Life Asset Management Company surged 11.5% to end at ₹779, UTI AMC rose 7.6% to ₹1,326, HDFC AMC gained 5.8% to ₹4,833 and Nippon Life India AMC advanced 2% to ₹721.
Payments Industry to touch $49 trillion by 2028: BCG
The Indian payments industry is projected to grow to $49 trillion in value by 2028 from $30 trillion in 2023, with transaction volumes expected to increase to 434 billion. Revenue growth in this sector is forecasted at 11%, with credit cards and fund transfers leading the expansion.
For Canadian funds, India’s the goose laying golden nest eggs
The Canada Pension Plan Investment Board (CPPIB), the largest Canadian investor in India, has been trimming its stakes in Indian stocks over the past year, while other funds Caisse de Depot et Placement du Quebec (CDPQ) and British Columbia Investment Management have kept their holdings in the country unchanged.