The Indian rupee closed at a three-week low of 95.75 on Wednesday. Substantial central bank interventions prevented further losses for the local currency. The RBI has consistently intervened for nine trading sessions, arresting rupee weakness. This action occurred as oil prices continued to soar significantly. Indian equity indices also fell, reflecting the impact of soaring energy costs.
The US Treasury will double its buyback operations for long-dated government debt. This move aims to provide liquidity and ease rising bond yields for investors. The increased buybacks will apply to securities maturing between ten and thirty years. This action follows a sharp bond selloff which pushed yields higher. The Treasury seeks to manage market pressures and borrowing costs effectively.
BSE has partnered with MSCI to explore futures and options contracts linked to MSCI indexes in India, subject to regulatory approvals. The move could broaden BSE’s derivatives offerings, strengthen index-based investing and provide investors additional tools to hedge India exposure.
Shiprocket debuted on the NSE at ₹131, a 35% premium, closing at ₹143.10. Goldman Sachs India EQ Portfolio acquired 40.24 lakh shares post-listing. Analysts advise investors to book partial profits while holding remaining shares for long-term growth.
US stock futures edged higher after a tech-led selloff, as investors monitored Iran tensions and key retail earnings for clues on consumer health.
Sebi’s interim order alleges Dhenu Buildcon routed Rs 1,000 crore through connected entities as loans, later converting Rs 840 crore into equity. Despite negligible revenue, its market cap surged to Rs 4,925 crore. The regulator ordered restrictions while investigations continue.
Target shares jumped 5% after second-quarter sales rose 5.3%, comparable sales increased 3.8% and traffic climbed 3.6%. Digital sales grew 8.7%, while EPS doubled to $4.11, boosted by tariff refunds, with underlying earnings still rising 20%.
Marvell shares surged 8% after securing a Google agreement to develop custom AI chips and related technologies. Google received a warrant for up to 58.97 million shares worth about $12.18 billion, strengthening Marvell’s position in AI infrastructure.
Moderna shares surged after its personalized mRNA cancer vaccine trial showed positive results. The treatment, combined with Keytruda, reduced melanoma recurrence and spread significantly. This marks the first successful late-stage trial for an mRNA cancer vaccine. The findings offer hope for future growth beyond COVID-19 vaccines. Discussions with regulators are expected within the next few months.
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