Barclays raised its year-end S&P 500 target to 7,950 from 7,800, citing strong corporate earnings and continued AI investment. The brokerage expects earnings momentum to persist despite inflation, geopolitical risks and interest-rate concerns. Other major banks are also bullish, with several forecasting the index to finish the year above 8,000.
US stocks remain near record highs ahead of the US midterm elections, but unusually low market volatility is raising concerns that investors may be underestimating risks. With the VIX near 15, analysts warn that crowded positioning and limited demand for protection could leave markets vulnerable to a sudden shock.
ICICI Prudential AMC secured Reserve Bank of India approval for significant bank share acquisitions. The approval allows for aggregate holdings up to 9.95 percent in four specific banks. These banks include Kotak Mahindra Bank, AU Small Finance Bank, CSB Bank, and DCB Bank. The acquisitions will be made as an investment manager for various mutual fund schemes. This move provides ICICI Prudential AMC increased investment flexibility across its managed portfolios.
RBL Bank has raised $350 million through its first international bond sale, pricing bonds tighter than initial guidance. Strong investor demand supports funding for GIFT City growth and liability management, while Emirates NBD’s backing strengthens credit quality and investor confidence.
The rupee weakened 0.3% to 95.1050 against the dollar as escalating West Asia military tensions pushed Brent crude above $100. RBI intervention helped limit losses, while traders expect the currency to remain volatile amid oil prices, geopolitical risks and potential de-escalation.
Stocks declined on Wall Street as Brent crude oil prices surpassed one hundred dollars per barrel. The S&P 500 and Nasdaq composite experienced slight decreases while the Dow Jones lost points. This oil price surge followed recent attacks between the United States and Iran. The ongoing conflict has disrupted vital oil shipments through the Strait of Hormuz. European markets also fell, and Asian markets showed mixed performance.
Jefferies initiated coverage on Vodafone Idea with a Buy rating and Rs 20 target, citing subscriber stabilisation, tariff hikes and operating leverage. The brokerage expects strong revenue and cash EBITDA growth, but flags funding needs, execution risks and cash outflows.
India lifted its trading ban on JPMorgan unit Copthall Mauritius and Mansi Share after they deposited Rs 2.96 crore ($311,230) in alleged unlawful gains. Accused by SEBI of manipulating BSE Sensex closing auction prices to boost options bets, both entities can trade again while the investigation continues
Sebi has revised commodity derivatives position limits and penalties, effective immediately. The new framework caps violation charges, strengthens action against repeated breaches, and updates agri commodity classifications and limits, aiming to ease compliance while improving market risk management across exchanges.
Four BSE 150 Midcap stocks hit fresh 52-week highs despite Wednesday’s market sell-off. Vodafone Idea and One97 Communications gained 22% each over the past month, while Piramal Finance and Laurus Labs also advanced.
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