Korean stocks rise 22% in 10 days as chip rally regains steam
The benchmark Kospi gained as much as 4.8% on Thursday, extending its gain from a July 30 low to around 22%. Heavyweight memory chipmakers Samsung Electronics Co. and SK Hynix Inc. drove the advance, each jumping more than 5%.
Oil drops on lower demand forecasts despite deadlock in US-Iran talks
Oil prices dipped as demand forecasts for 2026 were lowered due to the U.S.-Israeli war on Iran. Despite supply concerns from the conflict, a surprise build in U.S. crude inventories and stalled talks with Iran are impacting the market, with shipping risks in key straits adding to volatility.
Bank deposits hit decade-high growth as NRI dollar inflows cross $37 billion
Bank deposits saw their fastest growth in nearly ten years by July. Overseas Indians deposited about $37 billion in foreign currency accounts. Bank credit growth also accelerated to its fastest pace since June 2024. This surge was driven by corporate demand and MSME lending programs. India garnered nearly $41 billion in total inflows by July […]
Yotta plans IPO of up to Rs 8,000 cr to fund AI infra push
Yotta Data Services is preparing to file its draft prospectus for an initial public offering. The company aims to raise approximately six thousand to eight thousand crore rupees. These funds will support expanding data centre footprint and AI infrastructure deployment. Yotta recently secured one hundred fifty million dollars in a pre-IPO funding round. This move […]
Global Market Today: Asian stocks rise as rate hike bets ease, oil dips
Asian equities rallied as easing inflation in the United States reduced fears surrounding interest rate hikes. The MSCI Asia Pacific Index reflected this positive sentiment, following the upward trajectory of US markets. Meanwhile, Brent crude oil prices declined, breaking a recent climbing streak. Market participants are particularly focused on the Japanese yen, which is approaching […]
Sebi sees no CAS manipulation, eyes more participation
In a recent statement, Sebi chairman Tuhin Kanta Pandey confirmed that the closing auction sessions showed no manipulation. He linked earlier discrepancies to cautious trading in the newly implemented system. Notably, mutual funds have significantly increased activity in these sessions. Additionally, Sebi is looking into strategies to bolster both participation and liquidity in commodity derivatives, […]
Vedanta, Vedanta Aluminium post strong Q1 gains as metal prices lift earnings
After their demerger, Vedanta and Vedanta Aluminium Metal have reported robust financial outcomes for the first quarter, primarily due to rising commodity prices. Both companies are eyeing substantial capital investments to propel their growth strategies. With aluminium and base metal prices expected to stay strong in the near future, they are currently valued lower than […]
Banks continue to garner FCNR deposits at a brisk pace
Indian banks are attracting foreign currency deposits at a brisk pace. Indian Bank and Central Bank of India have garnered substantial foreign currency deposits. The Reserve Bank of India’s special measures have brought in significant foreign exchange inflows. These measures are largely driven by FCNR(B) deposits, exceeding previous years’ collections. Banks can swap these deposits […]
Southern banks on a golden lending streak; gold-loan books swell 2x
South Indian banks have seen their gold-loan portfolios nearly double in three years. This significant growth is driven by rising gold prices and increased demand for credit. Federal Bank, CSB Bank, and others experienced substantial portfolio expansions. CSB Bank recorded the fastest growth, more than doubling its gold loan book. Gold loans now represent a […]
Bank of America invests around Rs 18,268 crore for 49.9% stake in Jio Credit
Bank of America will invest up to $1.9 billion in Jio Credit. This significant foreign investment aims to acquire nearly fifty percent of the lending subsidiary. The transaction will provide substantial capital for Jio Credit’s expansion plans. It will combine Jio’s digital network with Bank of America’s financial expertise. This partnership seeks to enhance credit […]