Market News

Persistent Systems' strong deal wins boost outlook; acquisition costs pose risk

Persistent Systems reported robust revenue growth in its June quarter results and raised its future earnings outlook following strong deal wins, but upcoming acquisition-related costs including interest expenses and wage increases could pressure profit margins. The stock is expected to trade within a range as investors weigh the benefits of revenue growth against near-term margin pressures from the acquisition.

ESDS Software Solutions launches ₹720 crore IPO amid growth push

ESDS Software Solutions announced a ₹720 crore initial public offering to accelerate growth across its infrastructure, managed, and software services divisions, which have demonstrated strong revenue and profit expansion over three years. The IPO presents opportunities for growth-focused investors but carries risks including customer concentration and rising input costs.

Gold Pauses Before Fed Chair Warsh's Jackson Hole Address

Gold prices edged lower in early Asian trading Friday as markets awaited Federal Reserve Chair Kevin Warsh's Jackson Hole speech, with traders monitoring signals about potential US rate increases. The speech comes amid persistent inflation concerns and stable labor market data that could influence Fed policy decisions expected in December.

Bankex Put Options Surge 14,700% on Expiry Day

Bankex put options experienced a dramatic 14,700% surge during Thursday's options expiry session, with sharp premium jumps occurring within minutes and impacting options sellers. The unusual spike coincided with broader market declines, with Sensex and Bankex closing lower while Nifty and Bank Nifty posted smaller losses.

Foreign Portfolio Investors Extend Buying Streak Into August

Foreign portfolio investors continued accumulating equities in August following strong July activity, with selective additions to existing positions alongside increased domestic institutional buying. The investment momentum coincided with a surge in Indian IPO and OFS issuances, while regional capital flows shifted away from South Korea toward Taiwan.

Asian shares slip as US futures dip ahead of Warsh Jackson Hole speech

US stock index futures retreated on the back of fading momentum in artificial intelligence stocks and weakness in semiconductor earnings, while Asian markets moved lower in anticipation of remarks from Federal Reserve official Christopher Warsh at Jackson Hole. The pullback followed initial enthusiasm about the AI trade that had been sustained by Nvidia's recent bullish guidance.

BofA initiates coverage on Polycab, KEI with buy ratings

Bank of America has started coverage on Indian cable manufacturers Polycab and KEI Industries with buy ratings, projecting up to 22% upside for investors. BofA expects India's wires and cables sector to expand at a 14% compound annual growth rate through FY29, driven by infrastructure spending, renewable energy projects, and power grid investments.

Indian Equities Slide on Domestic Headwinds; Nifty Eyes 23,900

Indian equity markets declined on Thursday amid domestic challenges rather than global factors, with the Nifty index encountering resistance in the 24,300–24,400 range and potentially heading toward 23,900. Foreign portfolio investors sold shares while domestic buyers stepped in, and the rupee weakened slightly against the US dollar.

Indian Stock Markets Open on August 28 Despite Raksha Bandhan

The National Stock Exchange (NSE) and Bombay Stock Exchange (BSE) will remain open for trading on August 28, with commodity markets also operating normally, according to market announcements. The next scheduled market closure is September 14 for Ganesh Chaturthi, with additional holidays planned for October 2 and November 10.

Wipro gains on Google Cloud AI deal; Lenskart faces investor share sale

Indian markets closed lower on Thursday amid global economic uncertainty, with Wipro advancing following an expanded Google Cloud partnership for AI implementation, while Lenskart's investor prepares to offload shares valued at up to Rs 1,313 crore. The mixed moves underscore divergent corporate fortunes as technology partnerships support some stocks while secondary market activity pressures others.

NSE IPO Close to Regulatory Clearance, Sebi Chief Confirms

India's securities regulator is nearing final approval for the National Stock Exchange's initial public offering, according to Sebi Chief Tuhin Kanta Pandey. The exchange's current unlisted market valuation of approximately ₹5 lakh crore positions it to potentially enter India's top-ten market capitalization rankings upon listing at prevailing valuations.

IRDAI Opens NDB's Maharajah INR Bonds to Indian Insurers

India's insurance regulator IRDAI has permitted insurers to invest in New Development Bank's Maharajah INR bonds, according to a circular dated August 27. The NDB intends to deploy proceeds for corporate purposes and financing of sustainable development and green projects across India.

Nasdaq, S&P 500 Rise on Nvidia AI Rally; Fed Speech Looms

Nvidia's strong revenue forecast sparked a revival in the artificial intelligence trade, lifting both the Nasdaq and S&P 500 indices. However, investor attention is rapidly pivoting toward Fed Chair Kevin Warsh's upcoming Jackson Hole speech, with inflation data and labour market resilience creating uncertainty around interest rate decisions.

Indian Banks Better Positioned for Downturn: SBI Chairman

State Bank of India's chairman stated that banks and companies are better positioned to weather an economic downturn, citing India's economic resilience and strong financial sector standing. SBI forecasts 7.5% growth, 14-15% credit expansion driven by retail and SME sectors, and targets a 1% return on assets while boosting fee income.

HDFC Bank board accelerates CEO search as Jagdishan's term approaches end

HDFC Bank's board is moving with increased urgency to identify the next chief executive as Sashidhar Jagdishan's current tenure nears completion, according to reports. This contrasts with the bank's previous reappointment process, which was initiated significantly earlier in the cycle.

Fed Officials Divided on Inflation Outlook as Mixed Signals Emerge

Federal Reserve officials presented conflicting assessments of US inflation, with Boston Fed President Susan Collins characterizing July's data as mixed while maintaining expectations for gradual disinflation, whereas Cleveland Fed President Beth Hammack took a more hawkish stance, arguing inflation could remain elevated through next year. The divergence underscores ongoing uncertainty within the Fed about the trajectory of price pressures and the appropriate policy response.

Fed Officials Signal Possible Rate Hikes Amid Persistent Inflation Concerns

Federal Reserve policymakers at Jackson Hole expressed ongoing concerns about stubbornly elevated inflation, with some officials indicating that further interest rate increases may be necessary in the near term. Persistent price pressures pose a potential threat to the central bank's credibility and could lead to entrenched inflationary expectations in the broader economy.

Priority Jewels raises Rs 27.45 crore in anchor round ahead of IPO

Priority Jewels secured Rs 27.45 crore from anchor investors including Whiteoak Capital in its pre-IPO placement round, with the public offering set to launch on August 28, 2026. The capital raised will support working capital requirements and general corporate purposes for the jewelry company.

Nvidia shares surge 7% on blockbuster earnings and bullish AI outlook

Nvidia's stock jumped approximately 7% following strong second-quarter results and an optimistic revenue forecast that dispelled concerns about moderating artificial intelligence spending. The chipmaker reported $96.2 billion in Q2 revenue with expectations of $108 billion in the current quarter, alongside a 70% fiscal 2028 growth outlook that reinforced investor confidence in the AI sector.

ESDS Software raises Rs 216 crore from anchor investors before IPO

ESDS Software Solution secured Rs 216 crore from anchor investors, including Quant Mutual Fund, ahead of its Rs 720 crore initial public offering launching August 28 with a price band of Rs 408-429 per share. The fresh issue proceeds will fund cloud computing equipment, data centre infrastructure expansion, and general corporate requirements.