MSCI’s Asia Pacific equity index climbed 0.3%, a sixth straight day of gains, with Japanese markets closed for a holiday. Bellwether chip stocks such as Samsung Electronics Co. and SK Hynix Inc. climbed.
Wealth and asset management firm 360 ONE has appointed Aashish Agarwal as chief executive officer of 360 ONE WAM Group, according to a release. Agarwal joins the company from Jefferies, where he was MD and country head since April 2020. Karan Bhagat, currently MD and CEO, will become vice chairman and continue as managing director.
The Dow and S&P 500 declined sharply as oil prices rallied near the $100 mark, causing apprehension among investors. However, the Nasdaq soared to a historic high, fueled by the performance of Micron Technology and companies in the AI sector.
The US economy demonstrates resilience with strong consumer spending and growth beyond technology sectors. Richmond Fed President Tom Barkin remarks that inflation remains a more pressing concern than labor market weaknesses. The Federal Reserve raised interest rates last week to address rising price pressures. Barkin indicates that demand-driven inflation is becoming a significant factor affecting the economy. Various sectors, including defense and manufacturing, are experiencing positive developments according to Barkin.
Falling crude oil prices and Brent slipping below $100 a barrel helped Indian markets recover from intraday lows. Analysts highlighted BlueStone Jewellery, JSW Infrastructure and Finolex Cables as three stocks showing breakout setups, bullish momentum and positive technical indicators for Wednesday.
Runwal Enterprises has set its IPO price band at Rs 290-305 per share, with the Rs 500 crore fresh issue opening Friday and closing September 29. The Mumbai-focused developer has 88.37 million square feet of developable area across residential and non-residential projects.
Hillhouse-backed Elevate Campuses raised Rs 945 crore from 20 anchor investors, including major mutual funds and Norges. The amount represents 60% of its QIB allocation ahead of its Rs 2,100 crore IPO, which opens Wednesday and closes Friday.
(Rewrites throughout to add company comments, adds shares in paragraph 2, analyst comment in paragraph 5)- Celldex Therapeutics said on Tuesday its experimental
Dalmia Bharat Refractories sold 2.29 crore RHI Magnesita India shares, or 11.11% of equity, through a Rs 826 crore block deal at Rs 360 apiece. SBI Mutual Fund led purchases, while RHI Magnesita shares gained 3.04% to Rs 379.20.
"Having successfully established the Closing Auction Session as an important market structure reform, we intend to address concerns in respect of settlement price for derivatives on expiry days and other related issues. A consultation paper has already been issued inviting public comment," Pandey said at the 11th JP Morgan India Conference.
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