The Economic Times

US stocks rallied over 1% on Thursday as Fed Governor Christopher Waller's comments eased rate hike fears ahead of the US jobs report. The S&P 500, Nasdaq and Dow Jones all gained, while Nvidia and software stocks rose. Broadcom fell after its revenue forecast failed to meet high AI expectations.

Gold prices jumped more than 2% as traders cut bets on a September US Fed rate hike after Governor Christopher Waller signalled support for keeping rates unchanged if inflation continues to cool. Lower Treasury yields and a weaker dollar further boosted bullion, while investors await US jobs and inflation data.

Fed Governor Christopher Waller said the loss of the traditional safety premium on US Treasuries is pushing the neutral interest rate higher, potentially keeping borrowing costs elevated. He also warned that the US cannot simply grow its way out of its $40 trillion debt burden without bringing structural deficits closer to zero.

US 30-year mortgage rates have climbed to their highest level in more than a year, adding to affordability pressures for homebuyers. The rise comes as Treasury yields remain elevated amid inflation concerns, government borrowing needs and Middle East tensions, while Fed Governor Christopher J. Waller signals a possible pause on rate hikes.

Calcutta Stock Exchange shares have more than doubled in the unlisted market in three months as hopes of a revival gain momentum. The exchange is seeking to pause its voluntary exit process and explore opportunities across equities, derivatives, bonds, currencies and commodities, though any revival will require regulatory approvals and potential anchor investors.

The Indian stock market closed lower Thursday, with Sensex down 417 points and Nifty falling 41 points, pressured by high oil prices, bond yields, and geopolitical tensions. Despite strong domestic growth, near-term market direction hinges on global risks and crude oil volatility.

Sebi will review derivative settlement prices after market feedback. The Closing Auction Session's impact on expiry-day settlement is a concern. Traders reported sudden option price swings during the auction window. This review follows the equity cash segment's Closing Auction Session introduction. A consultation paper on proposed changes will be issued soon.

Fosun Pharma plans to divest 5% equity in Gland Pharma through a Rs 2,279.5 crore block deal at Rs 2,763 per share. Gland Pharma reported a 47% rise in Q1FY27 profit and operates globally, with strong R&D and growth.

Tyson Foods has revised down its profit and sales targets for fiscal 2026 due to rising challenges within the beef segment. The company anticipates that declining cattle prices will adversely impact its margins. To adapt to these industry-wide cattle-cycle dynamics, Tyson Foods plans to either close or sell three of its beef plant operations.

Campbell's is aiming for substantial cost savings by 2030, after announcing a cut to its quarterly dividend to focus on debt reduction. In a surprising turn, the company's fourth-quarter revenue fell more sharply than expected by analysts. In this context, many lower-income consumers are moving to more affordable brands and store labels, leading Campbell's to revise prices across its entire product range.

Federal Reserve Governor Christopher Waller expressed openness to steady interest rates, contingent on forthcoming inflation indicators showing a decline. However, if inflation persists, a rate hike in September can't be ruled out. He underscored the importance of inflation trends in shaping his policy decisions. The market has adjusted its expectations regarding potential rate changes, reflecting these sentiments.

FCNR(B) deposits could boost banks return on equity despite a mild impact on net interest margins, according to Anand Rathi. Exemptions from reserve requirements, capital-efficient lending and longer tenors could improve returns. The brokerage analysed four scenarios, including deposit costs, leverage and rising rates, to assess the schemes benefits.

US stocks traded higher as Fed Governor Christopher Waller said he could support holding interest rates steady if inflation continues to cool. Investors are now watching Friday's jobs data for clues on the Fed's next move, while rising oil prices and Middle East tensions remain key risks for markets.

Wall Streets main indexes opened higher on Thursday after Federal Reserve Governor Christopher Waller said he was open to keeping interest rates unchanged this month if data confirms cooling inflation pressures. The Dow Jones, S&P 500 and Nasdaq Composite all gained at the open, extending gains across major US indexes.

Prestige Estates has finalized a significant joint development agreement for a housing project in Gurugram, aiming to generate an impressive revenue of Rs 5,600 crore. This development will span across a substantial 17.14-acre land parcel in Sector 109. As part of their growth strategy, the company is also extending its footprint in the Delhi-NCR area, with additional projects underway in Ghaziabad and Noida.

Early Thursday trading saw Indian government bonds lose their initial gains as stronger dollar inflows were overshadowed by soaring oil prices. Traders covering short positions led to better performance in shorter maturities. Abundant liquidity helped reduce overnight indexed swap rates, but the spike in oil prices heightened concerns about India's inflation trajectory and fiscal integrity.

Sensex experienced a sharp 2,100-point drop during the closing auction session on expiry day, causing a massive surge in out-of-the-money put options. This volatility highlights ongoing concerns about the closing auction sessions impact on index derivatives pricing.

Indian markets extended losses on Thursday, with the Sensex falling nearly 0.6% and the Nifty declining 0.17% as geopolitical tensions and elevated crude prices weighed on sentiment. Realty stocks outperformed, while IT stocks lagged. Heres a look at the top Nifty and Sensex gainers and losers, along with the technical outlook.

Zerodha founder Nithin Kamath recalled how a 15-year-old media appearance helped boost the brokers account openings in its early days. He also revealed that he used the pseudonym Sachin and even faked an accent while speaking to a journalist. Kamath later turned to social media as traditional medias influence waned.

NSE is inching closer to its much-awaited IPO as SEBI nears approval of its DRHP. While unlisted NSE shares remain 17% below their peak, BSE has corrected nearly 29% from its 52-week high. Experts compare the two exchanges on valuations, earnings, liquidity and growth prospects to assess which offers better value.

SBI and Federal Bank have gained 281% and 292%, respectively, on Arcil investments as the asset reconstruction company launches its Rs 733-crore IPO. The entirely OFS issue opens September 9, with Arcil reporting stronger FY26 profit and revenue growth overall.

Kanohar Electricals will launch its IPO on September 8 with a Rs 601632 price band, targeting up to Rs 1,055.74 crore. The transformer maker plans to use proceeds for working capital, expansion and sustainability initiatives.

Bitcoin traded around $77,863 on Thursday as investors weighed improving risk sentiment against uncertainty over US interest rates and upcoming employment data. While BTC and Ethereum attempted a recovery, analysts said key resistance levels remain crucial, with Bitcoin needing to reclaim $78,400 for stronger short-term momentum.

Indian stock markets faced a downturn on Thursday, marking a continuation of prior losses. Both the Sensex and Nifty slipped, largely influenced by the fluctuations in oil prices and bond yields. Major corporations like Titan and ITC reported notable share price declines. Contrarily, the broader market displayed resilience, as small and midcap indices flourished, leading to a favorable market breadth on the NSE.

Glass Wall Systems has fixed its IPO price band at Rs 172-182 per share, with the issue opening on September 8 and closing on September 10. The Rs 60 crore fresh issue and OFS of up to 2.02 crore shares will fund a glass processing unit and general corporate purposes, while the companys strong order book and position in Indias facade solutions market remain key highlights.

After three consecutive days of declines, European stocks rebounded on Thursday, fueled by a respite in the global selloff of government bonds. Investors are keenly anticipating upcoming US economic data, which might offer insights into future policy changes. While oil prices dipped, they remained high enough to keep inflation concerns alive, and individual company news saw notable movements in shares of Deutsche Telekom and Soitec.

Indian Economy: Japan Credit Rating Agency (JCRA) has upgraded Indias sovereign credit rating from BBB+ to A-, restoring an A rating for India after more than 35 years. The upgrade follows rating increases by Morningstar DBRS, R&I and S&P Global Ratings. Indias strong economic growth, improving fiscal position, stronger banking system, digital infrastructure and low external vulnerability are supporting the latest rating upgrade.

India's automotive market thrives by owning technology, not just assembling imported parts. Past partnerships built manufacturing and vendor capabilities for Indian companies. New energy vehicles require mastering battery and software engineering for global standards. Tata Motors and Mahindra now lead India's EV market through sustained investment. This shift moves India from 'Make in India' towards true 'Design in India'.

N K Singh supports new GDP data reflecting India's economic structural changes. He also noted the sovereign rating upgrade after thirty-eight years. This upgrade reflects structural reforms and sustained macroeconomic stability. The revised GDP base year captures significant economic activity shifts. India's credit rating improved to 'A-' with a stable outlook.

In the second quarter of 2026, US private credit portfolios experienced a notable trend of stabilization, despite lenders continuing to mark down software loans. There was an increase in non-accrual debt, leading to portfolio values dipping below reported costs due to significantly widened market spreads. This situation highlights rising pressures in specific areas of the private credit landscape, particularly in the software sector where markdowns were more pronounced.

The India-New Zealand free trade agreement will officially commence next month. This pact grants India one hundred percent duty-free access for all its exports. New Zealand previously imposed tariffs up to ten percent on key Indian goods. The agreement also promotes significant investments between the two nations. New Zealand has committed to investing twenty billion US dollars over fifteen years.

Aswath Damodaran has challenged Vinod Khoslas view that companies should prioritise scaling over profitability. Damodaran argues that the right balance depends on factors such as market size, competition, capital intensity and unit economics. He warns that blindly chasing scale can turn small business failures into larger ones and create unsustainable models.

In a pivotal ruling, India's supreme court has dismissed the regulatory challenges raised by market authorities against the National Stock Exchange. This verdict eliminates a major hurdle for the exchange's initial public offering, addressing previous controversies over co-location and dark fibre allegations. CNBC TV-18 provided coverage of this significant development on Thursday, paving the way for the IPO to proceed.

India and Belgium will work to double bilateral trade over the next five years. Cooperation will expand beyond traditional commerce into defence and clean energy sectors. Both nations seek to enhance collaboration in critical minerals and semiconductor technology. Belgium's expertise and India's scale offer complementary strengths for mutual growth. This strategic partnership aims to foster shared priorities for a clean energy future.

According to a September report by Religare Broking, these 10 companies across power, mining, finance, IT and energy offered dividend yields ranging from 3.3% to 9.7%.

Recent reports indicate a modest growth in US economic activity alongside slight increases in employment figures. However, moderate price rises have been observed throughout most Federal Reserve districts, with businesses facing higher costs in energy and transportation, which is affecting consumer spending. The housing market remains sluggish, pressured by high mortgage rates and inflation, leaving policymakers with a challenging decision regarding interest rates ahead of their upcoming meeting

Microsoft has disclosed Azures quarterly and annual revenue for the first time, giving investors a clearer view of its position against Amazon Web Services and Google Cloud amid rising AI infrastructure demand. Azure reported $29.4 billion in quarterly sales and $101.9 billion for fiscal 2026, while Microsoft also unveiled a new two-segment reporting structure.

Titan Biotech has announced its maiden 1:4 bonus issue, with one share to be issued for every four held, subject to shareholder approval. The multibagger stock has gained over 200% in a year and 100% in 2026. Heres what investors need to know about the bonus issue and eligibility.

Wakefit Innovations shares gained over 4% after Nomura initiated coverage with a Buy rating and a Rs 200 target price, implying 30.7% upside. The brokerage cited Wakefits leadership in online mattresses, furniture expansion and vertically integrated model, while flagging Jumbo store execution, competition and raw-material volatility as key risks.

The Deepa Jewellers IPO entered its final day of bidding with strong investor interest, while its grey market premium moderated from earlier levels. Brokerages remain positive on the issue, citing strong earnings growth, attractive valuations and expansion plans, though customer concentration and working-capital requirements remain key risks.

Rays of Belief IPO saw strong demand on its third and final day of bidding, with the Rs 125-crore issue receiving bids far exceeding the shares on offer. The retail portion led demand, while the NII segment also saw strong interest. Heres a look at the IPO, GMP, financials and investment outlook.

Investors in the US stock market are monitoring Treasury yields closely, aware that they may hinder any potential rally. The benchmark ten-year yield is nearing levels that could disrupt equity valuations. While robust corporate earnings currently mitigate rising borrowing costs, the focus is shifting to inflation and interest rates. Should yields surge past five percent, stock repricing may swiftly follow.

India awaits US tariff advantage for trade deal finalization. The agreement was announced on February 3, 2026, reducing US tariffs on Indian goods. New Delhi seeks a clear tariff edge over competing manufacturing economies. India has protected its agriculture and dairy sectors under the agreement. Sectors like MSMEs and textiles will benefit from lower tariffs.

Prasol Chemicals will launch its Rs 500-crore Initial Public Offering on September 8. The company has fixed the price band at Rs 643-676 per equity share. This public offering will close on September 10 after anchor investor bidding. The IPO includes a fresh issue of Rs 80 crore and an OFS of Rs 420 crore. Proceeds will fund debt payment, working capital, and general corporate needs.

Indian government bonds saw gains early Thursday, led by shorter-term debt. Larger dollar inflows boosted rupee liquidity and improved sentiment for Indian assets. Banks raised significant foreign currency, adding to domestic liquidity for several years. This influx strengthened India's ability to support the rupee and domestic markets. Elevated oil prices and US Treasury yields continued to weigh on longer-dated bonds.

Motilal Oswal initiated coverage on Adani Power with a Buy rating and a target price of Rs 250, implying around 20% upside. The brokerage sees capacity expansion, its track record of turning around distressed assets and potential entry into nuclear power as key growth drivers.