The Indian rupee saw a strong surge on Thursday, gaining nearly 1.8% against the dollar. This appreciation followed new regulations by the Reserve Bank of India aimed at curbing speculative trading. The currency reached its best single-day gain since September 2013. Traders anticipate the rupee to trade within a specific range next week as banks adjust their positions.Read More
Indian benchmark indices rebounded on Thursday, closing higher after a rupee recovery spurred short covering ahead of an extended weekend. Despite early losses, Sensex and Nifty ended in positive territory, contrasting with global market weakness. Volatility remains a concern, though technical indicators suggest a potential near-term pullback.Read More
MOFSL Chairman Raamdeo Agrawal advises investors to prioritize survival during the current West Asia conflict, which he finds harder to predict than Covid. He notes that while India’s macro resilience has improved significantly, valuations are becoming attractive with the Nifty below 20 PE, suggesting the market is pricing in fear rather than an earnings collapse.Read More
Elon Musk’s SpaceX is reportedly targeting an IPO valuation exceeding $2 trillion, potentially making it the largest stock market listing ever. The company is in discussions with prospective investors, aiming to raise up to $75 billion. This ambitious valuation follows a recent merger with Musk’s AI startup, xAI.Read More
HDFC Bank has penalized at least 12 senior and mid-level executives, including Ashish Parthasarthy, for their alleged role in the mis-selling of Credit Suisse AT1 bonds. This action follows previous sackings and suspensions, with the bank attributing the issue to technical documentation and regulatory interpretation lapses rather than fraud.Read More
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