Symbiotec Pharmalab has raised Rs 526.20 crore from anchor investors ahead of its Rs 1,757 crore IPO opening August 24. The pharmaceutical company has set a Rs 938-988 price band, with proceeds from the fresh issue earmarked for debt repayment.
Goldman Sachs sees gold potentially exceeding its $4,900 year-end forecast as strong options demand, Western investor interest and central bank buying amplify price moves. Rising call-option activity could accelerate gains near key strikes, though changing Fed expectations could also trigger sharper corrections.
Gold prices soared to a three-month high on Friday, marking its third consecutive weekly increase. This rally was driven by a softer U.S. dollar influenced by Treasury buyback strategies. Analysts identify the surge as a bullish signal after a notable break above significant moving averages. Investors are increasingly attracted to gold and related exchange-traded funds, while other precious metals such as silver and platinum also saw substantial gains.
Foreign investor positioning in Indian equities is nearing historical extremes, with FII flows showing early recovery after sustained outflows. Jio BlackRock says resilient domestic buying, reduced foreign selling and more reasonable valuations could signal a potential sentiment turnaround for Indian markets.
India’s 10-year benchmark bond yield climbed to a two-month high of 6.88% before closing at 6.85%, posting its biggest weekly rise this fiscal. Hawkish MPC minutes, potential rate hikes and escalating West Asia tensions drove cautious sentiment among bond traders.
Major Wall Street indexes opened higher on Friday after significant declines. The Dow Jones Industrial Average saw a slight increase at the opening. The S&P 500 also experienced a rise in its opening figures. The Nasdaq Composite index registered a notable gain at the opening bell. Markets are still set to finish the week with losses.
In the first quarter of fiscal year twenty twenty-seven, real estate prices experienced a significant six percent year-over-year rise. Major cities such as New Delhi, Noida, Chennai, Greater Noida, and Bengaluru spearheaded this trend. While residential sales saw a moderate three percent uptick, the launch of new projects declined alongside an increase in unsold inventories in areas like Bengaluru, Hyderabad, and NCR, illustrating a complex market dynamic.
India is set to launch a $1.2 billion incentive scheme to stimulate local manufacturing efforts. This initiative aims to draw in $1.8 billion of new investments over the next seven years, focusing on essential machinery such as tunnel boring machines and fire-fighting equipment. A major goal is to lessen reliance on imports, particularly from China, while establishing local value-addition targets for machines that are fully imported.
Indian equity benchmarks ended largely flat on Friday, extending gains for a second straight session despite Middle East uncertainties. Power Grid, HDFC Life and Kotak Mahindra Bank led the gainers, while Maruti Suzuki, Trent and HCL Tech were among the top losers. Broader markets outperformed with positive market breadth.
India’s PMS industry expanded in July, with AUM rising 2% month-on-month to Rs 44.11 lakh crore and clients increasing 1.3% to 2.23 lakh. Annual growth stood near 11%, while strong inflows, expanding distributors and domestic investors supported continued industry growth.
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