Brent crude futures were down 21 cents, or 0.2%, at $98.27 a barrel at 0039 GMT, after touching $99.38 earlier in the session. West Texas Intermediate futures fell 28 cents, or 0.3%, to $89.39, after climbing as high as $90.71.Read More
Gold gained as easing oil prices and the extension of the US-Iran ceasefire supported sentiment, with investors balancing reduced inflation risks against ongoing geopolitical uncertainty.Read More
Fairfax Financial Holdings plans to boost its stake in IIFL Capital Services. The deal is valued at approximately ₹1,000 crore. This move will see Fairfax’s holding increase by about 10%. The transaction is expected to trigger an open offer under Indian regulations. Prem Watsa’s firm is doubling down on its investment after thorough due diligence.Read More
“The financial services sector has the biggest weight on benchmark Nifty; so when there is broad-based selling, banking and financial services’ share in foreign selling tends to be higher,” said U R Bhat, co-founder & director, Alphaniti.Read More
The currency had closed Monday at 93.13/$. The rollback came after markets ended trading Monday. Bank treasury heads said they remain cautious and are holding back from offering non-deliverable forward (NDF) contracts to corporates, as RBI is likely monitoring such trades. The dollar-rupee forward premiums rose, increasing hedging costs, with the 1-year forward yield up 10 basis points at 3.10%.Read More
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