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Oil extends gains after US and Iran strike ships
Oil prices experienced a significant rise on Monday, following a spike in tensions between the US and Iran. The US struck three Iranian oil tankers in a bold move, while Iran responded by targeting US vessels. Maritime intelligence highlighted an alarming escalation with economic repercussions, as shipments through the Strait of Hormuz reached their lowest levels since May.
Dollar gets little lift from boost in Fed hike expectations
The dollar faced pressure on Monday as Middle East tensions fueled inflation concerns. Global central banks may tighten policy together, impacting currency markets. Traders are pricing in a Federal Reserve rate hike, awaiting inflation data. The Japanese yen strengthened significantly on expectations of a Bank of Japan hike. Other currencies like the Australian dollar saw modest gains while Bitcoin steadied.
BlackRock to JPMorgan bet on EM as turmoil seizes global bonds
Emerging market government bonds are outperforming developed markets as inflation remains contained. Funds from JPMorgan and BlackRock find an edge in developing economies' debt. These markets offer income and stability during global bond market volatility. Emerging market central banks possess greater flexibility in setting monetary policy. This resilience provides a relative opportunity for global emerging market debt investors.
US-Iran war news LIVE: Iran's Security Chief Rezaei says Hormuz will reopen when US stops threatening, attacking Tehran
US-Iran war news LIVE: Mohsen Rezaei, Iran's Supreme National Security Council Secretary, on Sunday (local time) said that the Strait of Hormuz, the strategic waterway that has been effectively shut since the war began, will reopen if the US stops attacking and threatening Tehran.
Can Prasol Chemicals IPO deliver long-term growth for high-risk investors?
Prasol Chemicals plans an IPO to raise funds for debt repayment and expansion. The company's revenue and profits have shown significant growth in recent years. Its product portfolio includes acetone and phosphorus-based specialty chemicals for various industries. Capacity utilization at one plant improved, though it remains relatively low. Investors with a high-risk appetite may consider applying for this offering.
Demutualisation: The driver behind stock exchange IPOs
The National Stock Exchange has successfully gained regulatory approval for its forthcoming initial public offering, marking a significant milestone as it aims to become India's second-largest share sale to date. The transformation to a public company through demutualisation reflects a global trend, following the path of other prestigious exchanges like ASX and CME Group. This listing will showcase the substantial worth of financial exchange operators in India.
Global Market Today: Asian stocks open higher, oil rises after attacks
Asian stock markets saw gains thanks to a rise in US technology stocks on Friday. Oil prices also increased following tanker attacks between Iran and the US in the Strait of Hormuz. Investors are now keenly awaiting US inflation data that will influence Federal Reserve interest rate policies. Meanwhile, the yen showed volatility amid speculation regarding possible rate hikes by the Bank of Japan.
NSE grey market premium soars on Sebi's IPO approval
The National Stock Exchange's IPO has gained the necessary regulatory approval, leading to an increase in grey market premiums. Investors are now looking at a potential price hike for shares before they officially list. Brokers foresee the IPO launch by late September, with unlisted NSE shares trading at about ₹1,975, while the IPO size is estimated at around ₹30,000 crore.
Demat account additions hit 7-month high in August as IPO boom draws investors
August witnessed a surge in new demat accounts, reaching a seven-month peak due to strong initial public offering activity that spurred many newcomers to the markets. Collectively, NSDL and CDSL welcomed around 3.27 million new accounts, even as benchmark stock indices faced a minor dip. Analysts are optimistic about continued growth, especially with major upcoming IPOs from Jio and NSE on the horizon.
Stocks in news: Tata Motors, RVNL, Eicher Motors, Mazagon Dock and Lupin
Indian equity markets experienced volatility, with the Nifty 50 extending its losing streak for four weeks. Escalating US-Iran hostilities pushed crude oil prices higher, impacting overall market sentiment. Several companies, including Tata Motors and Rail Vikas Nigam, are expected to be active on Monday. Mazagon Dock Shipbuilders and Eicher Motors also reported significant corporate developments. Lupin received US FDA approval, while JSW Steel saw production increases in August.
IPO rush continues: 16 issues to raise over Rs 7,000 crore this week
India's primary market is gearing up for an exciting week, with 16 companies ready to launch their IPOs. Aiming to gather over 7,000 crore rupees, this includes 12 mainboard and 4 SME offerings. Following a strong August performance, confidence remains high within the IPO sector, with businesses eager to harness the prevailing positive momentum.
Pre-market action: Here's the trade setup for today's session
The Indian equity market ended the week on a positive note, with the Nifty increasing by 0.1 percent on Friday. Factors such as global market trends and easing fears of US interest rate hikes lent support to this rise. The India VIX, often seen as a fear gauge, declined by 5.8 percent, signaling lower market worries.
NSE IPO set to deliver massive gains to state-run insurance firms
General Insurance Corp, National Insurance, New India, Oriental Insurance and United India were among the earliest investors in the exchange, which opened in 1994 and is India's biggest by trading volume. The proposed IPO, expected later this month, is entirely an offer for sale of up to 148.91 million shares, which would mean that NSE itself will not receive proceeds from the issue.
Drafting slips sending arbitration to winding, pricier detours
The contract fineprint is becoming a costly hurdle in arbitration. Vague clauses over seat, venue and jurisdiction can send companies to court before the actual dispute is heard, stretching timelines and adding as much as 20% to costs.
Lululemon founder Chip Wilson’s $6.1 billion net worth under spotlight amid divorce, company struggles
Wilson built a multibillion-dollar fortune by creating Lululemon. Now, his personal wealth is under spotlight due to a high-profile divorce and at the same time the company he founded is fighting to regain its momentum.
AIFs seek status quo as 'foreign control' rules go for a recast
Local alternative investment funds have warned regulators about proposed changes. These changes could significantly impact capital inflows into India's economy. The draft rules aim to curb indirect foreign ownership in sensitive sectors. Industry officials requested the status quo on existing regulatory definitions. This move seeks to maintain India's attractiveness for foreign investment.
RBI's liquidity test may set future course
The Reserve Bank of India is currently grappling with a notable liquidity dilemma due to a surge in FCNR(B) scheme inflows. To navigate this, a pivotal variable rate reverse repo auction is set to influence the liquidity management strategy. The central bank may also utilize measures such as dollar swaps and bond sales.
US trade war: What if Russian oil is excluded from markets? Envoy Alipov warns ‘world will not cope'
Russian Ambassador Denis Alipov stated that the global energy market would struggle without Russian oil and emphasised Russia's readiness to meet India's oil needs amidst sanctions. He criticised pressure tactics from other countries that hinder better deals for India.
Who is Arthur Lundeen? Man duct-taped to seat mid-flight after hurling racist, anti-LGBTQ slurs
Arthur Lundeen was arrested after American Airlines Flight 618, travelling from Dallas-Fort Worth International Airport in Texas to Newark Liberty International Airport in New Jersey, was diverted to Baltimore following a disturbance involving the passenger.
