The Indian central bank likely intervened to support the rupee on Wednesday. Heavy dollar demand from maturing non-deliverable forwards weighed on the currency. Traders reported the Reserve Bank of India used state-run banks for intervention. This helped the rupee hold above its record low. Indian shares and government bonds saw gains as oil prices fell.Read More
Australian shares surged on Wednesday, gaining nearly 2%. Softer inflation data boosted market sentiment. Hopes for a Middle East ceasefire also contributed to the rise. The S&P/ASX 200 index reached its strongest daily gain since February 9. Consumer prices remained unchanged in February, lowering annual inflation. Energy stocks saw a decline, while gold and mining stocks advanced significantly.Read More
Laxyo Ltd, an EPC services provider for railway infrastructure, has filed preliminary papers with Sebi for a Rs 150 crore IPO. The company plans to use the funds for debt payment, equipment purchase, and working capital.Read More
Sai Parenteral Limited’s initial public offering is underway. The IPO is in its second day of bidding. It experienced a slow start on its first day. The company aims to raise Rs 409 crore through the issue. The subscription window closes on Friday, March 27. Investors are advised to consider the long-term prospects.Read More
Indian government bonds saw mixed trading today. Crude oil prices are near $100 a barrel after a sharp fall. Reports of a U.S.-Iran ceasefire plan eased supply worries. Elevated oil prices impact India’s inflation and trade deficit. States plan significant bond sales this Friday. Overnight swap rates tracked oil prices with shallow trading volumes.Read More
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