China’s yuan weakened Wednesday after the PBOC set a weaker midpoint, ending a 10-session streak of stronger guidance. Rising trade tensions with Europe, concerns over exports and a stronger dollar weighed on sentiment. Markets now await the Trump-Xi meeting, which could influence trade relations, currency policy and the yuan’s trajectory.
US financial stocks fell sharply as investors weighed AI-driven disruption risks, uncertainty around AI-linked IPOs and a flatter Treasury yield curve. The S&P 500 Financial index dropped 2%, with money managers and banks among the biggest decliners.
Federal Reserve Vice Chair Philip Jefferson said recent improvements to the discount window have made emergency borrowing easier, faster and more efficient for banks. Enhanced access to liquidity can support financial stability, prevent forced asset sales during market stress and improve monetary policy implementation. Jefferson noted that 60% of loans now use the self-service portal.
360 ONE WAM appoints Jefferies India Country Head Aashish Agarwal as Group CEO, with founders Karan Bhagat and Yatin Shah taking focused leadership roles across strategy and wealth management.
While the recent rise in yields may make short-tenor bonds more attractive, the long end remains vulnerable to global rate pressures and domestic fiscal risks. Apoorva Javadekar, Chief Economist at Shriram Group, believes the 2-year segment offers a relatively attractive entry point, while investors should remain cautious on long-duration bonds.
Varmora Granito’s Rs 708-crore IPO was 11% subscribed on Day 1, with the retail portion at 20%. The issue’s grey market premium has cooled to 2% from 6%, indicating a modest listing premium. The IPO closes on September 24, with allotment expected on September 25 and listing on NSE and BSE on September 29.
The Rs 124.88 crore Jindal Supreme IPO comprised a fresh issue of 1.07 crore shares aggregating to Rs 99.89 crore and an offer for sale (OFS) of 26.87 lakh shares worth Rs 24.99 crore. The company had fixed the IPO price band at Rs 88–93 per share.
The five SME IPOs are looking to raise around Rs 169 crore. Coreintegra Consulting and Pooja Logistics will be listed on the NSE SME platform, while Liqvd Digital, S.K. Offset and Unitec Fibres will make their debut on the BSE SME platform. The allotment for all five issues is expected to be finalised on September 28, with tentative listing scheduled for September 30.
In a significant leap for technology, Advanced Micro Devices (AMD) has crossed the $1 trillion market capitalization threshold recently. This landmark moment emphasizes the intensifying AI race among chip makers as the tech scene evolves. Remarkably, out of 17 companies achieving this valuation, six have done so in just the last four years, while others have reached this mark through sectors like e-commerce and oil.
Brent crude futures fell 7 cents, or 0.07%, to $99.18 a barrel, while West Texas Intermediate futures declined 35 cents, or 0.39%, to $90.17 a barrel.
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