Zinc prices have climbed to multi-year highs as tight global inventories, rising production costs, and supply disruptions fuel a strong rally. While infrastructure spending, renewable energy projects, and industrial demand support the long-term outlook, growing mine supply and slower construction activity could keep prices volatile in the near term.
Wall Street tumbled as a strong U.S. jobs report dimmed hopes of rate cuts, triggering a sharp selloff in overheated tech and chip stocks. The Nasdaq plunged over 4%, ending a nine-week rally, while persistent Middle East tensions and rising yields further pressured investor sentiment.
Prism Hotels, Oyo’s parent, received Sebi approval for a Rs 6,650 crore IPO. Targeting a $7–8 billion valuation, the firm will use funds for expansion and strengthening its balance sheet to support its ongoing push toward company profitability.
GQG Partners sold stakes in Adani Enterprises and Adani Energy Solutions worth about Rs 5,750 crore through block deals, with SBI Mutual Fund acquiring the shares. The transactions are seen as portfolio rebalancing after a strong recovery in Adani Group stocks over the past year.
Even as the Sensex fell 117 points to close at 74,243 on Friday, six BSE 200 stocks touched fresh 52-week highs. Vodafone Idea, Adani Enterprises, CG Power, Polycab India, Adani Energy Solutions and Federal Bank outperformed the broader market, signaling strong investor confidence and continued bullish momentum.
Legendary investor Walter Schloss highlighted the dilemma of booming markets, where investors face the choice of lowering standards to chase quick gains or sticking to discipline with potentially lagging investments. Maintaining patience and focusing on fundamentals, rather than market fads, is crucial for long-term success and capital preservation.
The rupee gained 0.9% to end at 94.9450 per dollar, its biggest gain since April 2. Forward premiums, ‌the cost of hedging â FX â exposure, plunged to 2.67 rupees, the lowest this financial year, down from 2.85 rupees.
India is currently sidelined from the global AI investment boom due to its lack of semiconductor manufacturing. While the Indian IT sector has corrected, market veteran Punita Kumar Sinha believes value is emerging, with domestic themes and earnings growth offering long-term potential despite near-term challenges.
Tata Steel shares dropped nearly 3% after a fire at its Port Talbot plant in the UK forced a temporary halt to operations. While emergency services extinguished the blaze, the extent of operational impact is still being assessed.
Hindustan Zinc shares fell sharply on Friday after a report said the government may sell up to a 2% stake in the company to raise around Rs 5,000 crore. The proposed divestment comes amid broader disinvestment efforts, with recent stake sales in Coal India and NHPC.
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