Investors in the US stock market are monitoring Treasury yields closely, aware that they may hinder any potential rally. The benchmark ten-year yield is nearing levels that could disrupt equity valuations. While robust corporate earnings currently mitigate rising borrowing costs, the focus is shifting to inflation and interest rates. Should yields surge past five percent, stock repricing may swiftly follow.
Rays of Belief IPO saw strong demand on its third and final day of bidding, with the Rs 125-crore issue receiving bids far exceeding the shares on offer. The retail portion led demand, while the NII segment also saw strong interest. Here’s a look at the IPO, GMP, financials and investment outlook.
IFCI shares rallied over 16% in two sessions amid expectations that the long-delayed NSE IPO could be nearing launch. IFCI indirectly owns more than 4% of NSE through its stake in Stock Holding Corporation of India. SEBI has moved closer to approving NSE’s IPO after settling key regulatory cases, while the exchange seeks a valuation of up to Rs 5.26 lakh crore.
Mainland Chinese stocks rebounded after two sessions of losses, with property shares leading gains. Investors remained focused on upcoming US jobs data and China’s economic indicators for clues on interest rates, growth and policy support. Hong Kong markets were largely flat, while Beijing reiterated efforts to boost domestic demand and maintain openness.
India’s nominal GDP growth could accelerate to 11.5%-12% in FY27, supporting stronger corporate earnings. However, elevated valuations, rising equity supply and potentially slower domestic flows could limit broad market gains. Jefferies favours lenders, power, ports and real estate, but sees a selective stock-picking environment rather than a broad-based rally.
Madhusudan Kela’s top five holdings saw mixed performance in August, with Windsor Machines emerging as the biggest gainer while Choice International led the declines.
Lumino Industries shares extended their strong debut gains, rising another 4% after listing at a 34% premium to the IPO price. While analysts see attractive valuations, strong profitability and debt reduction as positives, fresh investors have been advised to wait for consolidation, while IPO allottees can consider partial profit booking and monitor key support levels.
The traditional 20% threshold for defining a bear market is facing fresh scrutiny as highly volatile technology and semiconductor indexes remain sharply higher for the year despite entering bear-market territory. The SOX and KOSPI have revived debate over whether factors such as volatility, duration and economic conditions should complement the conventional measure.
Inox Wind shares rose nearly 2% after securing a ₹755-crore, 100 MW turnkey order from Indian Oil Corporation. The project includes turbine supply, EPC, execution and 10-year O&M services, strengthening its institutional customer base and integrated renewable energy capabilities. Despite the order, shares remain significantly lower in 2026.
Stock market veteran Shankar Sharma has questioned India’s headline GDP growth, arguing that the economy’s “Real Feel†growth is only 2-3%. Despite 7.8% GDP growth in Q1 FY27, he pointed to worsening quality of life and chaotic urban conditions, contrasting India’s experience with Europe’s stronger lived prosperity.
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