Asian stocks advance as Fed’s rate cut lifts mood
Asian markets followed Wall Street higher after the US Federal Reserve lowered interest rates. Fed Chair Jerome Powell indicated confidence in the US economy’s future. This move boosted tech and financial stocks across Asia. Investors anticipate positive trends for Asian equities and currencies. Export companies are expected to benefit from improved US growth prospects.
Pension funds can now invest in more stocks, gold, silver ETFs
Pension regulator PFRDA has revised investment rules, allowing private pension funds to invest in the top 250 market-cap stocks and gold/silver ETFs for better returns. These changes aim to boost pension fund popularity by offering wider options to savers, with the private sector overseeing ₹15.78 trillion in assets.
Fixed deposit growth finds its key driver in rural incomes
Savings deposits in rural centres also posted a robust 10% increase, the fastest pace in six quarters. Experts attribute this shift to rising rural incomes while growth in the metro areas appears to be losing momentum as financially savvy investors increasingly divert funds into higher-yielding avenues such as mutual funds and equities.
Silver climbs Rs 11,500 to a fresh peak on global cues
Silver prices surged by ₹11,500 to a fresh peak of ₹1,92,000 per kilogram in New Delhi, marking the steepest single-day rise in nearly two months. This surge was driven by robust domestic demand and global cues, with silver prices adding over 114% year-to-date.
ReNew Power to raise $800m to refinance debt
ReNew Power is raising $800 million through a five-year loan, with Societe Generale, Standard Chartered, and SMBC acting as lead banks. This significant borrowing, likely to be priced next quarter, will be used to refinance operational projects, aiming for a rate of 350-400 basis points over SOFR.
TotalEnergies divests Adani Green shares worth Rs 2,778 cr
TotalEnergies Renewables Indian Ocean divested shares worth ₹2,778.1 crore in Adani Green Energy through a block deal on Wednesday. The entity sold 2.86 crore shares at ₹970 each, reducing its stake by 1.74%. Quant Mutual Fund and Authum Investment & Infrastructure were among the buyers.
RBI may maintain repo rate at 5.25% through FY27: Fitch
The commentary from BMI comes amid many economists and bond-market experts in India factoring in a further quarter percentage point reduction in policy rates, lowering terminal rate expectations to 5% in the current easing cycle after RBI looked past a sharply retreating rupee to deliver a rate cut last Friday.
Adani Enterprises rights issue oversubscribed
Adani Enterprises’ ₹25,000 crore rights issue concluded with 108% subscription, attracting applications for 149.5 million shares. The issue, priced at ₹1,800 per share, saw public investors oversubscribe their portion by 30%. Funds raised will be used for debt reduction and capital expenditure.
Kotak Securities sees 13% rise in Nifty by next December
Kotak Securities is optimistic about the stock markets, setting a Nifty target of 29,120 by December 2026, driven by strong earnings growth expectations. The brokerage anticipates over 17% earnings growth for 2027, with improved macro conditions and policy decisions expected to fuel gains. They favor BFSI, technology, healthcare, and hospitality sectors, while also noting positive […]