Market News

Indian Sugar Stocks Rally Up to 8% on Govt Inventory Tightening

Sugar stocks in India advanced up to 8% after the government implemented tighter inventory limits for dealers, with Bajaj Hindusthan Sugar leading gains alongside Balrampur Chini and peers. The rally reflects government efforts to manage record-high sugar prices, supported by supply concerns and rising seasonal demand.

Jefferies initiates Buy on Turtlemint Fintech with Rs 190 target

Jefferies has initiated coverage on Turtlemint Fintech Solutions with a Buy rating and a target price of Rs 190, suggesting 37% upside potential from current levels. The brokerage projects revenue growth at a 38% compound annual growth rate over the next three years, supported by increasing premiums and improved take-rates in the insurance distribution platform.

RBI's hawkish policy minutes trigger Indian bond selloff

Minutes from India's central bank policy meeting revealed hawkish undertones suggesting possible rate hikes, triggering a significant sell-off in government bonds on Thursday. The minutes highlighted policymakers' concerns about inflationary pressures, compounded by elevated oil prices that could further strain the rupee and worsen the inflation outlook.

Strides Pharma shares surge 9% on FDA inspection closure for Bengaluru plant

Strides Pharma Science's shares jumped 9% after the U.S. FDA issued an Establishment Inspection Report (EIR) for its Bengaluru facility, concluding a cGMP inspection with five observations that the company addressed through corrective actions. The regulatory clearance provides relief to investors following recent stock weakness.

Milky Mist Dairy Food shares slip 4% after sharp post-listing rally

Milky Mist Dairy Food shares declined 4% as profit-taking followed a remarkable 42% surge in the two sessions after the company's market debut. Analysts have urged caution, citing the stock's premium valuation despite the company's strong revenue growth and leadership in the value-added dairy segment.

Gold Financier Stocks Surge on Rising Bullion Prices Above Rs 1.58L

Shares of major Indian gold loan companies including Muthoot Finance and Manappuram Finance climbed up to 4% as gold prices rose above Rs 1.58 lakh per 10 grams, driven by the US Treasury's decision to increase longer-dated bond buybacks. The rally reflects improved collateral values for gold-backed lending portfolios.

Samsung Electronics Announces $72B Shareholder Return Program

Samsung Electronics plans to unveil a shareholder return programme exceeding $72 billion, allocating fifty percent of its free cash flow to the initiative following record profits driven by AI chip demand. The announcement comes after rival SK Hynix launched its own substantial share buyback, with Samsung's board expected to approve the plan later this month.

Shiprocket shares jump 6% after Goldman Sachs Rs 53 crore stake acquisition

Shiprocket shares rose sharply following a Goldman Sachs bulk deal acquisition of Rs 52.7 crore worth of stock, extending momentum from the company's recent market debut. Analysts suggest existing investors consider partial profit-booking while new buyers await price dips despite positive sentiment.

US Treasury Doubles Bond Buybacks to Combat Rising Long-Duration Yields

The US Treasury has doubled planned buybacks of longer-dated bonds to at least $4 billion per operation in response to 30-year Treasury yields reaching their highest levels since 2007. The intervention aims to address liquidity pressures amid rising fiscal concerns and elevated borrowing costs.

Rupee Strengthens 17 Paise to 95.56 Against US Dollar

The Indian rupee appreciated by 17 paise to reach 95.56 against the US dollar in early Thursday trading, driven by weakness in the dollar following the US Treasury's announcement of increased bond buyback operations. The dollar index fell to its lowest level since late May, while diminishing expectations of further Federal Reserve rate hikes added downward pressure on the currency.

Jefferies Places Hold on Bajaj Housing Finance Despite Strong Growth

Jefferies initiated coverage of Bajaj Housing Finance with a Hold rating and a Rs 92 price target, indicating limited upside potential despite the company's robust loan portfolio expansion. The brokerage projects strong growth metrics including 23% CAGR in assets under management and 20% earnings per share growth through FY29, but views current valuations as restrictive.

Oil Holds Above $92 as Trump Escalates Iran Rhetoric

Crude oil remained above $92 per barrel as geopolitical tensions between the United States and Iran intensified, with concerns about potential disruptions to shipping through the Strait of Hormuz. Major financial institutions indicated that sustained regional instability could drive sharper price increases if critical supply routes face interruption.

Gold Rebounds Above Rs 1.58 Lakh Per 10g as US Yields Decline

Gold prices on the MCX surged above Rs 1.58 lakh per 10 grams as US Treasury yields fell and the dollar weakened amid increased liquidity support. Analysts anticipate continued volatility driven by geopolitical tensions and upcoming US economic data, though long-term demand fundamentals remain supportive.

Singapore's OCBC Issues £1 Billion Covered Bonds

Oversea-Chinese Banking Corporation (OCBC) has issued £1 billion of covered bonds maturing in 2029 under its $10 billion Global Covered Bond Programme, with the proceeds designated for general corporate purposes. The issuance reflects the Singapore lender's strategy to diversify its funding sources in global debt markets.

Crude Oil Nears $92/Barrel Amid US-Iran Tensions

Oil prices have surged to nearly $92 per barrel following rising Middle East tensions, with President Trump stating the United States is not in talks with Iran. The escalating diplomatic deadlock and Iran's shift toward aggressive military posturing have heightened concerns over potential supply disruptions in a region critical to global energy markets.

Credent Connect shares debut on NSE SME with 49% GMP premium

Credent Connect N Care shares listed on the NSE SME platform today, with a Grey Market Premium (GMP) indicating a 49% premium ahead of debut. The IPO received substantial investor interest, with subscriptions reaching 153.13 times the offered shares.

Japan shares rally as US debt buybacks ease bond market concerns

Japan's Nikkei index rose 1% to 65,982.49 as falling global bond yields and US Treasury plans to double long-duration debt buybacks improved investor sentiment and revived risk appetite. The gains extended beyond technology and semiconductor stocks, with strength in mining, pharmaceutical, and utility sectors offsetting declines in tech-related shares.

Indian Markets Rally as Sensex Gains 500 Points, Nifty Tops 24,200

Indian stock markets staged a strong comeback on Thursday, with the Sensex climbing 500 points and Nifty surpassing the 24,200 level, reversing earlier losses. The rally was driven by declining US bond yields, short-covering activity, and gains in key stocks including Infosys and TCS, with midcap and smallcap segments also participating in the advance.

South Korean shares surge 6% as chip stocks rebound strongly

South Korean equities rebounded sharply with a 6% gain, driven by chipmakers SK Hynix and Samsung Electronics recovering from prior-session losses. The rally, which triggered volatility curbs on the KOSPI, also extended to automakers and battery producers, supported by foreign investor buying.

Blue Star leads four NSE stocks with double-digit futures open interest surge

Four NSE F&O stocks, including Blue Star, recorded futures open interest growth exceeding 11% as of August 19, indicating heightened market participation through new and expanded futures positions. The sharp rise in open interest suggests increased hedging activity or speculative interest among traders and institutional investors.