The Dow Jones Industrial Average surged 1.18% to close at a record 47,927.96 points on Tuesday, driven by growing expectations of an end to the U.S. government shutdown.
Gold prices climbed for a fourth consecutive session as a weaker U.S. dollar and increasing expectations of a rate cut by the Federal Reserve boosted investor interest in the precious metal.
The US dollar slipped on Wednesday after private-sector employment data pointed to signs of weakness in the labour market, fuelling speculation that the Federal Reserve may cut interest rates in December.
Mutual funds in India are facing increased scrutiny from investors and market watchers over their aggressive participation in recent IPOs. The calls follow a string of high-profile issues where post-listing performance has fallen short of expectations, triggering questions about whether fund houses applied sufficient diligence when backing these offerings.
Shares of Groww’s parent company, Billionbrains Garage Ventures Ltd, made a commendable market debut, listing at Rs 114 on the BSE (14 % above the issue price of Rs 100) and Rs 112 on the NSE (12 % above). Despite the strong listing, analysts suggest that investors who were allotted shares should hold on rather than immediately book profits.
Fujiyama Power Systems Ltd. (FPSL) is a leading manufacturer and solution provider in the Indian rooftop solar industry offering an integrated ecosystem of solar products. Originally founded in 1996 as UTL Electronics, the entity was converted into a partnership firm in 2018 and later restructured as a public company.
Markets were abuzz with a heavy flow of Q2FY26 earnings, corporate actions, and fundraise updates across sectors.
Key Earnings Highlights:
RVNL reported a 20% YoY dip in net profit to Rs.230 cr, though profit rose 72% QoQ on better execution. Revenue was up 6% YoY at Rs.5,122 cr.
NIFTY OUTLOOK: 25694.95 FII -803.22 cr. DII 2188.47 cr.
As discussed yesterday, market behaviour remained on expected lines during the day, as Nifty started with selling pressure and drifted down to 25449.25. From there, it found strong buying support and advanced up to our projected level of 25725, making a day high of 25715.80.
Alert: Quant MF’s Sandeep Tandon warned that investor “stupidity” is driving IPO frenzy, with Indian investors paying unjustified valuations that global markets wouldn’t approve.
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