SEBI has allowed arbitrage mutual funds to temporarily carry unhedged positions of up to 1% of their plans, aiming to improve liquidity in the struggling stock closing auction. Arbitrage funds held combined assets of Rs 3 trillion at the end of August.
Hong Kong has unveiled its first Five-Year Plan through 2030, targeting higher innovation spending and greater investment in AI, robotics, microelectronics and advanced manufacturing. The strategy also focuses on the Northern Metropolis and deeper technology and economic integration with mainland China.
Qualcomm shares climbed after the chipmaker announced a multi-generational AI data-centre collaboration with Amazon. The deal strengthens Qualcomm’s diversification beyond smartphones, with the company targeting significant data-centre revenue growth through AI chips and connectivity solutions.
Paytm and Pine Labs stand to benefit from the new UPI MDR framework, but the impact could differ sharply. Paytm has a larger absolute revenue opportunity, with analysts estimating FY28 UPI MDR revenue of up to Rs 1,160 crore, while Pine Labs could see a bigger impact on earnings and profitability.
Solar Industries shares have plunged over 17% in two sessions following the Rs 12,951 crore acquisition of South Africa’s Omnia Holdings. Despite the sharp correction, Jefferies and Nuvama retain Buy ratings, citing the company’s earnings growth potential, strong cash flows and strategic benefits from the acquisition and global expansion.
Dalal Street faces pressure from rising US bond yields and expectations of a Federal Reserve rate hike, raising concerns over equity valuations and foreign flows. However, analysts say the impact may depend on earnings growth, currency movements and global liquidity, with some arguing that higher yields need not necessarily trigger a sharp market correction.
Hero Motors IPO opened for subscription on September 16 and was subscribed 17% on Day 1. The Rs 1,000 crore issue has a grey market premium of 23%, while brokerages cite its automotive technology portfolio and long-term growth potential.
Sensex and Nifty rebounded around 0.5% on Wednesday after Tuesday’s selloff wiped out more than Rs 9 lakh crore from Dalal Street. Investors await the Federal Reserve’s policy decision, while elevated US bond yields and crude prices continue to weigh on sentiment. Analysts expect volatility and stock-specific opportunities amid the weak market.
From October 15, MDR will apply to select UPI person-to-merchant payments above Rs 2,000, but not to all such transactions. UPI AutoPay and mandates will be treated separately, while mutual funds and capital-market payments will attract a lower MDR. Importantly, the charge will be borne by merchants, not customers, raising questions over its impact on SIPs and stock investments.
Japanese government bond yields extended their rise as higher oil prices and Middle East tensions fuelled inflation concerns. Longer-dated JGB yields also climbed, while investors awaited the US Federal Reserve’s interest-rate decision and assessed Japan’s fiscal policy outlook.
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