The Economic Times

The S&P 500 consumer discretionary sector was one of the biggest drags on the benchmark index, with megacaps including Amazon and Tesla among its biggest index-point weights. Big percentage decliners included Royal Caribbean Group and Carnival Corp, which are sensitive to fuel prices.

The rising use of GLP-1 weight-loss drugs such as Ozempic and Mounjaro is creating a new consumer market in India, with companies developing protein- and fibre-rich foods, nutrition supplements and beauty products aimed at addressing side effects of rapid weight loss.

India is poised to be a major global growth market over the next decade, driven by seven structural strengths including economic stability, a reform-oriented policy framework, a large consumer base, and a growing talent pool. The nation's technology and manufacturing sectors are gaining global relevance, supported by a widening trade architecture.

Second-generation entrepreneurs are increasingly using the experience, support and capital available within family businesses to pursue independent interests and build new ventures, business leaders said at The Economic Times Family Business Dialogue in Bengaluru.

NCLT Mumbai has admitted Pen Indias insolvency petition against Reliance Entertainment Studios over a 11.94 crore default linked to a security deposit agreement. The tribunal held that the transaction qualified as financial debt and that Reliances liability remained outstanding despite its repayment mechanism. It rejected Reliances objections and initiated the corporate insolvency resolution process.

Whirlpool India says it will operate independently despite its US parent retaining a 39.7% stake. The company plans to expand its premium portfolio, strengthen refrigerators and washing machines, and grow its air-conditioner business. Six senior executives have invested their savings in the companys shares. Whirlpool also plans 245 crore investment in a new production line as it targets top-three positions across segments.

Volkswagen plans to enter Indias sub-four-metre SUV segment next year with a compact SUV, aiming to expand beyond its limited portfolio and reach the mass market. CEO Thomas Schafer said the company also wants to clearly differentiate Volkswagen from Skoda and Cupra while using shared technology. The new model could also become an export product from India.

India and Japan plan to expand maritime cooperation significantly. Key areas include warship building and mine countermeasures development. A new memorandum will strengthen maritime security cooperation between the navies. Both nations will leverage strengths for joint naval shipbuilding and design projects. This collaboration aims to enhance regional maritime domain awareness and safety.

Shein has set its Hong Kong initial public offering for September 1, a slight delay from earlier projections. The company's growth has slowed, and rising costs are impacting investor interest. Shein aims for a valuation between $26 billion and $27 billion, a considerable drop compared to its 2022 fundraising figures.

US Treasury Secretary Scott Bessent has outlined a strategy to ramp up bond buybacks, aiming to enhance market liquidity and instill confidence in economic fundamentals. Simultaneously, a fiscal consolidation initiative is underway, targeting savings in the hundreds of billions. This year's deficit has been exacerbated by refunds of illegal tariffs, while newly imposed tariffs and changes in tax laws are expected to significantly influence future revenue streams.

St. Louis Fed President Alberto Musalem has stated that maintaining higher interest rates is still appropriate due to ongoing inflationary pressures, which remain above the central bank's target of two percent. He prefers a steady approach to rate hikes rather than sudden changes, emphasizing the need for a careful evaluation ahead of the September meeting of the Federal Open Market Committee.

Investment platform Upstox is exploring a potential initial public offering. The company aims to raise approximately USD 350-400 million through this offering. This proposed IPO will include both new shares and an offer-for-sale.

Augmont Enterprises secured Rs 246.3 crore from anchor investors before its upcoming IPO. The company will open its initial public offering for subscription on August 21. Augmont Enterprises plans to use fresh issue proceeds for working capital and inventory. The IPO comprises a fresh issue and an offer for sale component. Shares are scheduled to list on the NSE and BSE on August 31.

Indian equities snapped a seven-session losing streak as falling US bond yields, short-covering and stronger sentiment lifted markets. Sensex surged 628 points and Nifty gained 154 points. Analysts remained cautious, citing elevated crude prices and geopolitical risks despite improving technical momentum.

General Atlantic Singapore Fund sold 1.51 crore KFin Technologies shares worth around Rs 1,400 crore at Rs 925 apiece. Mutual funds bought most of the block, with six funds acquiring shares worth about Rs 1,178.5 crore. KFin shares closed at Rs 961.

Retail traders paid around Rs 25,000 crore in F&O transaction costs during FY26, while nearly 88% incurred losses. Aggregate losses reached Rs 91,685 crore, with options accounting for 92%. Active traders fell sharply, while near-expiry trading remained highly concentrated.

The government has amended its Foreign Trade Policy to ease rupee invoicing for exporters. Eligible rupee receipts now qualify for export benefits and obligations, aligning with new regulations. This change applies to exports to all countries, with specific rules for ACU members. Rupee settlements may reduce costs and risks for Indian exporters. The amendment aims to support wider international use of the Indian rupee.

Kuldeep Yadav faced challenges on the Galle pitch, taking no wickets in his eleven overs. He was India's third spin option behind Jadeja and Suthar, who claimed fourteen wickets. The think tank may replace Kuldeep with off-spinner Saransh Jain for the upcoming Test. Former spinner L Sivaramakrishnan advised focusing on line, length, and natural speeds. Lack of preparation might have also hindered Kuldeep's performance in the first match.

SEBI found individual equity derivatives traders fell 18% to 88 lakh in FY26, the first annual decline in over a decade. Yet 87.7% still lost money, collectively losing Rs 91,685 crore, with options accounting for 92% of losses.

The Sinhalese Sports Club pitch for the second Test is expected to be balanced. Officials are considering a well-balanced track to aid young batters. This approach avoids potential backfire from an overtly spin-friendly surface. Past SSC pitches favored batters, but recent performance shows a shift. Batting first at this venue may offer a significant advantage.

India advocates for BRICS nations to build institutional capacity together. Member states should jointly advocate for fair international telecom standards. India offers open-source frameworks for digital public infrastructure to member states. This infrastructure enables banks and government departments to build services. Digital public infrastructure is essential for sustainable development across the Global South.

Analysts recommend GMR Airports and Bajaj Consumer Care for Friday, citing technical strength, supportive retracement levels and improving momentum. GMR Airports has a target of Rs 112, while Bajaj Consumer Care targets Rs 540, with stop-losses at Rs 98 and Rs 480.

Individual traders incurred substantial losses in India's equity derivatives market during FY26. Options trading accounted for the vast majority of these aggregate net losses. Active traders declined significantly, and new entrants also dropped considerably. Smaller investors with limited equity holdings experienced heavier losses than larger ones. The profit pool remained concentrated with institutional and professional traders.

Iran's Consul General in Mumbai believes India can help foster conditions for an Iran-United States agreement. He described India as a peace-loving country capable of contributing to mediation efforts. Several countries already act as intermediaries between Iran and the United States. An agreement could bring peace, stability, and harmony to the entire region. India consistently advocates dialogue and diplomacy for resolving international conflicts.

HDFC Bank raised a record $1.75 billion through three- and five-year dollar bonds, marking the largest debt capital market raise by an Indian financial institution. Strong investor demand generated over $7 billion in bids, enabling tighter pricing and supporting FCNR(B) deposit funding.

The Indian women's hockey team has qualified for the second round of the World Cup. They secured their place after a goalless draw against England in their final pool match. This result earned India one point, allowing them to finish second in Pool D. China topped the pool with seven points, while India secured five points. The team's compact defence frustrated England throughout the entire contest.

Cryptocurrency stocks experienced a significant uptick following President Trump's appeal to Congress for digital asset legislation. He emphasized the need for a refined version of the Clarity Act, aiming to delineate digital assets as either securities or commodities for better regulatory oversight. Major cryptocurrencies like Bitcoin and Ether responded positively, and the crypto exchange Coinbase also saw a rise. Many industry experts agree this legislation is vital for regulatory clarity.

India and Japan on Thursday signed a maritime security pact and agreed to deepen defence cooperation to support a free and open Indo-Pacific. Defence ministers Rajnath Singh and Shinjiro Koizumi opposed unilateral attempts to alter the status quo by force or coercion, while backing joint naval shipbuilding, intelligence-sharing and technology cooperation.

Fintech firm smallcase Technologies has introduced CASE Platforms as its new corporate identity. This new identity will unify its diverse portfolio of investment products and platform businesses. The mutual fund business, a joint venture with Zerodha, will now be known as Zerodha CASE Mutual Fund. CASE Platforms aims to help individual investors access the right financial products and tools.

Walmart shares fell 8% despite strong second-quarter results, with revenue rising 5.9%, e-commerce sales jumping 23% and operating income increasing 28.8%. Investors focused on tariff refund benefits and a 6.7% increase in global inventory, raising concerns over underlying performance.

Oil prices climbed to three-week highs as uncertainty over the Iran conflict and Strait of Hormuz disruptions raised supply concerns. Brent rose 2.39% to $93.81, while WTI gained 2.89%. Both benchmarks headed for fifth consecutive sessions of gains.

Centre has allowed duty-free imports of 1 million metric tonnes of sugar as prices surge nearly 40% in two months amid tightening supplies. The move comes alongside stricter stockholding limits for bulk consumers, with festive demand expected to rise through November and weather conditions adding pressure to sugarcane availability.

Six stocks from the BSE Financial Services Index hit fresh 52-week highs as the Sensex surged 628 points. Tourism Finance led with a 59% monthly gain, followed by Karnataka Bank at 21%, while four others posted gains of 4%-10%.

India has eased export payment rules, allowing rupee settlements with non-Asian Clearing Union countries. This move aims to promote wider use of the local currency in international trade transactions. Eligible rupee export receipts will now qualify for trade-policy benefits and count towards exporter obligations. The changes align with recent Reserve Bank of India foreign-exchange rules permitting broader rupee usage.

Major US stock indexes opened lower on Thursday. Rising government bond yields hurt investor sentiment significantly. Retail giant Walmart reported a rare sales miss, disappointing many. The Dow Jones Industrial Average fell 81.8 points at the open. The S&P 500 and Nasdaq Composite also experienced declines.

India has signed a long-term supply arrangement with Mauritius for petrol, diesel and aviation fuel, strengthening energy cooperation between the two countries. The agreements, signed during Oil Minister Hardeep Puris visit, include a government-to-government MoU on oil and gas cooperation and a sales agreement with Indian Oil. Mauritius disclosed no volumes.

Non-Resident Indians are allowed to set up joint FCNR (B) accounts with their resident family members. These accounts must function on a 'Former or Survivor' arrangement for the NRI. Eligible resident relatives include immediate family members and their spouses. The money for these accounts should be sourced from international transfers or existing Indian accounts. Both the principal amount and accrued interest are exempt from taxes and fully repatriable.

SEBI now permits Foreign Portfolio Investors (FPIs) to submit digitally signed Power of Attorney documents, complying with the Information Technology Act, 2000. This initiative eliminates notarisation and apostillisation requirements, aiming to streamline onboarding and improve ease of doing business.

The U.S. dollar weakened near three-month lows as Treasury bond buybacks calmed markets. Long-term Treasury yields retreated from recent nineteen-year highs after the Treasury's announcement. Federal Reserve meeting minutes revealed policymakers' concerns about persistent inflation and potential rate hikes. The Japanese yen found some relief from its recent sharp depreciation against the dollar. Investors now await the Jackson Hole Symposium for further clues on monetary policy direction.

Indian bond yields are experiencing a flattening trend as the central bank's policy adjustments begin to influence borrowing costs. The Reserve Bank of India has hinted at possible interest rate increases, prompting a rise in shorter-term yields. Meanwhile, robust demand from institutional investors is driving interest in longer-term government securities, aided by decreased state debt issuance, which influences the government's overall borrowing strategy and market expectations.

Domestic bonds experienced mounting pressure after the Reserve Bank of India's recent policy minutes conveyed a hawkish tone. The escalation in oil prices further compounded this decline in bond values. Policymakers expressed a willingness to raise interest rates if inflation concerns arise, triggering fears of increased borrowing costs within the economy. Meanwhile, global bond markets grapple with a challenging inflation and interest rate forecast.

Sebi has streamlined the onboarding process for foreign portfolio investors by permitting the use of digitally signed power of attorney documents. This change eliminates the requirement for notarization and consularization, enhancing the ease of doing business for overseas investors. As part of its commitment to digital transformation, Sebi aims to simplify investor processes, with these new regulations set to take effect on August 20, 2026.

India and the European Union have finished legal scrubbing of their trade pact. This significant agreement is expected to be signed sometime this year. Ninety-three percent of Indian shipments will gain duty-free access to the EU bloc. Luxury cars and wines imported from the EU will also become less expensive. Together, India and the EU represent a quarter of global GDP.

India's infrastructure output grew 5.4% year-on-year in July 2026. This growth moderated from the revised 6% expansion recorded in June. The July figure shows a 0.6 percentage-point slowdown from the previous month. Data covers nine key infrastructure sectors under the revamped Index of Core Industries. The new series uses 2022-23 as its base year.

Indian equities snapped a seven-session losing streak as Nifty gained 0.64% and Sensex surged 628 points, aided by relief in global bond yields. Market breadth turned positive, while analysts identified 24,100-24,000 as crucial support and 24,300 as immediate resistance.

Smartphone prices are increasing due to higher component costs for manufacturers. Several brands like Realme and Samsung have already raised prices on select models. Consumers are becoming more cautious about spending and waiting for discounts. Sales have remained below previous levels, with promotions offering temporary relief.

HMT watches clocked 35 lakh in sales in a single day in Bengaluru on Independence Day, highlighting the enduring popularity of a brand that began as a machine-tool maker in 1953. HMT entered watchmaking in 1961 with Japan's Citizen Watch Co. and went on to become one of India's most recognisable watch brands before Titan emerged as a major player.