The Economic Times

In July, US crude oil production climbed to 13.95 million barrels per day, up from Junes figures. Despite the production surge, the demand for crude oil and petroleum products dropped to 20.61 million barrels per day. Meanwhile, gross natural gas production reached a remarkable 137.0 billion cubic feet per day, with Texas's output increasing to 40.1 billion cubic feet per day, contrasting slightly with a decline in Pennsylvania.

Accelevation's shares began trading below the initial public offering price of $18, reflecting current market instability. The company, which focuses on data center infrastructure, successfully raised $540 million by offering around 30 million shares at a debut price of $17.55. Founded in 2017, Accelevation achieved impressive revenue growth, totaling $447.8 million by 2025 amidst an uncertain U.S. IPO landscape that is impacting this listing season.

Avalon Technologies saw an Rs 870.6 crore bulk deal as three promoter entities sold 40.08 lakh shares, representing 6% equity. Kotak Mahindra Mutual Fund bought 24.02 lakh shares, while Nomura retained its Buy rating and raised its target price.

Indian equities declined for a third straight session, with Sensex losing 49 points and Nifty falling 96 points as rising bond yields weighed on sentiment. Broader markets gained, while analysts highlighted crude prices, inflation and monetary policy uncertainty.

Sudhir Kumar Jha has retired from HDFC Bank effective September 30, 2026, concluding his 22-year tenure. Following his retirement, Jha will no longer hold a senior management position at the bank. HDFC Bank recognized Jha's significant contributions to its legal and compliance framework over the years. Jigar Shah is set to succeed Jha as General Counsel starting October 1, 2026. The transition marks another leadership change within the HDFC Group.

Foreign institutional investors sold over Rs 26,000 crore of Indian shares in three sessions, intensifying Septembers market correction. High crude prices, elevated US bond yields and a weaker rupee pressured equities, while analysts said selective opportunities are emerging across largecaps.

Jio Financial Services and Allianz Europe B.V. have each invested Rs 320.05 crore in Jio Allianz General Insurance through a rights issue, collectively infusing Rs 640.1 crore into their 50:50 joint venture. The insurer will use the funds for business operations, while Jio Financials total investment has reached Rs 375 crore.

Analysts recommend five stocks for ThursdayJM Financial, IDFC First Bank, Clean Science, City Union Bank and BEMLciting technical signals and support levels. Cautious sentiment persists amid higher oil prices, elevated bond yields, inflation concerns and uncertainty over global monetary policy.

Avalon Technologies saw three of its promoter entities divest a collective 6% stake for a substantial Rs 871 crore via bulk deals, bringing their ownership down from 44.39% to 38.4%. In this strategic move, Kotak Mahindra Mutual Fund bought 24.01 lakh shares priced around Rs 2,171. The deal was struck with share prices fluctuating between Rs 2,171.03 and Rs 2,173.35, while Avalon Technologies closed slightly lower at Rs 2,294.

The dollar faced a downturn against key currencies following unexpected inflation results from the US. The US Commerce Department reported the Personal Consumption Expenditures Price Index increased by merely 0.3% last month, contrary to economists' forecasts of 0.4%. This shift affected market predictions about Federal Reserve interest rate adjustments, resulting in lower US Treasury yields.

Traders took stock on Wednesday, moderating their forecasts for Federal Reserve rate hikes after the latest inflation figures. Reports showed inflation's increase for August fell short of economists' predictions. As a result, futures contracts adjusted to reflect a less than even chance of a rate hike in October. However, there remains strong anticipation for a rate increase by December, showcasing the market's response to shifting economic trends.

RBL Bank said it received a showcause notice from Maharashtra GST authorities proposing a demand of over Rs 173.08 crore, including interest and penalty, over alleged wrongful input tax credit availment in FY23. The bank said it will respond and expects no material financial impact, citing favourable orders on an identical issue.

The Insurance Brokers Association of India (IBAI) has warned that IRDAIs proposed changes to insurance distribution could shrink distribution, increase job losses and slow insurance growth. IBAI supports measures such as banning compulsory insurance bundling with loans, suitability checks and claw-backs for proven mis-selling.

Geojit Financial Services will transition leadership on October 1, 2026, with founder C.J. George becoming Executive Chairman and Jones George taking over as Managing Director. The move forms part of the companys succession plan and technology-led growth strategy.

Bajaj General Insurance's MD highlights the need to focus on claim ratios instead of distributor commissions. The insurance regulator recently proposed expense caps for better customer protection. Industry discussions are ongoing to gather insights before formal representations are made. Swiss Re Corporate Solutions will collaborate with Bajaj General to provide tailored insurance solutions for globalizing Indian corporates.

On Wednesday, major indexes on Wall Street experienced a positive start, buoyed by favorable investor sentiment following a recent inflation report. The Dow Jones Industrial Average increased by 74.9 points, reaching a starting value of 51,424.84. Additionally, both the S&P 500 and Nasdaq Composite reflected the market's optimism about future economic stability.

Eight BSE 100 stocks hit fresh 52-week lows as the Sensex fell 49 points to 72,480. PB Fintech, Havells India, Wipro, Britannia Industries, Tata Consumer Products, Godrej Consumer Products, Hindustan Unilever and ONGC recorded new annual lows.

Zerodha founder Nithin Kamath says nearly all of the brokerages leaders have risen internally, with many joining early in their careers. He also discussed Zerodhas long-term approach to social impact, questioning whether mandatory CSR spending delivers meaningful outcomes.

Bank credit growth strengthened across major sectors in August, with personal loans rising 16.9% year-on-year to 72.9 lakh crore, up from 11.9% a year earlier, RBI data showed.

In August, banks lowered the weighted average rate on fresh rupee term deposits to 5.67%. At the same time, the average lending rate on new loans increased to 8.61%. Public sector banks experienced a decrease in deposit rates, while private banks faced a similar trend. Lending rates varied based on loan types, with personal loans seeing a significant increase.

Transport Corporation of India will buy back up to 15.63 lakh shares for Rs 150 crore at Rs 960 each. The tender offer has October 9, 2026 as its record date, with 15% reserved for eligible small shareholders.

Kotak AMCs Nilesh Shah says public markets can offer opportunities after asset bubbles burst, as distressed valuations emerge. Multiples Renuka Ramnath highlights private markets greater control, while both stress diversification, liquidity and risk management across investment portfolios.

BofA Securities initiated coverage on Trent with a Buy rating and Rs 3,075 price target, citing its differentiated retail model, Zudio and Westside growth, integrated technology, supply chain capabilities and long-term market share opportunities.

HDFC Bank has appointed V.N. Srivatsan as its Chief Compliance Officer for a three-year term, effective from his joining date on January 4, 2027. Srivatsan, currently Head Compliance: Overseas Banking and Subsidiaries & Data Privacy Officer at ICICI Bank, has around 34 years of professional experience, including 25 years in BFSI.

Vera Vita Living LLP is set to invest Rs 250 crore in a groundbreaking housing initiative dedicated to senior citizens. The project, which encompasses 256 flats on 2.5 acres near the Kandlakoya reserve forest, addresses the growing need for senior living options in South India, especially in Hyderabad. The company is also exploring expansion into new cities, reflecting shifts in lifestyle and priorities among modern elders.

Smartworks Coworking Spaces Ltd has successfully secured new leasing contracts with corporate clients in various cities. The company projects a remarkable Rs 305 crore in rental income over the upcoming five years. Notably, Smartworks focuses on providing managed office spaces tailored for mid-to-large size enterprises. Details regarding the total office space leased were not included in the announcement.

Indian government bonds closed the quarter at their weakest levels in more than two years. Fluctuations in oil prices and rising global yields influenced market conditions significantly. Anticipations regarding rate increases by the Reserve Bank of India affected bond supply fears after increased long-term bond issuance. India's inflation rate in August exceeded the RBI's medium-term target, showing persisted price pressures.

Bitcoin and Ethereum remained relatively steady despite a challenging macro backdrop, with elevated US Treasury yields weighing on crypto markets. Experts said Bitcoins ability to hold key support levels points to underlying demand, while investors await fresh catalysts from macro data, ETF flows and monetary policy for the next directional move.

Market cycles can reshape sector leadership, earnings expectations and valuations. As investors navigate changing interest rates, geopolitical shifts and the rise of artificial intelligence, business quality and valuations remain key. Veteran investor Prashant Jain will share lessons from three decades of market cycles at the ET Alpha Wealth Summit 2.0.

IFSCA plans to introduce a direct-listing framework at GIFT City within months, allowing companies to list shares without traditional IPOs. The move aims to deepen GIFT IFSCs equity market, complementing its growing bond, overseas investment and sustainable finance ecosystem.

Macquarie expects Indian banks to deliver 18% EPS growth in FY28, supported by higher margins, stronger loan demand, easing liquidity pressures and stable asset quality. The brokerage upgraded Bank of Baroda, Kotak Mahindra Bank and select financial stocks.

Indian equities extended their decline on Wednesday, with Nifty slipping below 22,650 as selling pressure persisted at higher levels. Healthcare stocks led the losses, while banks and realty stocks outperformed. Kotak Mahindra Bank, InterGlobe and ICICI Bank were among the top gainers, while Apollo Hospitals and Max Healthcare led the decliners.

The Indian rupee has experienced a decline impacted by elevated crude prices and increasing global bond yields. During the last quarter, the currency fell 1.2%, and monthly losses reached 0.7%. Despite the downturn, the Reserve Bank of India managed to stabilize the rupee through interventions and support measures. Analysts expect the upcoming monetary policy decision to influence the currency's future movement.

The Indian stock market saw further declines as the Sensex dipped nearly 49 points while the Nifty sank around 96 points by session's end. Rising bond yields spooked investors, dampening market sentiment. Yet, the Nifty Midcap 100 and Smallcap 100 managed to rise by 0.3%, showcasing a surprising resilience in the broader market despite the downturn in leading indices.

Bank of England policymaker Alan Taylor said further rate increases remain unlikely unless higher energy prices generate persistent, broad-based inflation. He noted limited second-round effects, moderate wage growth and subdued food-price pressures. With rates held at 3.75%, policymakers remain divided as they monitor wages, services inflation, energy costs and economic weakness.

Marcellus Investment Managers has officially gained SEBI's green light to launch its mutual fund operations in India. This move opens up opportunities for the company to share its robust investment strategies with a wider market. The fund aspires to direct household savings toward reputable companies known for their governance. Saurabh Mukherjea highlighted the importance of transparency and making investments accessible to all, continuing the firms well-regarded research-driven philosophy.

Eurozone bond yields eased Wednesday from multi-year highs as investors tempered expectations for further rate hikes. Germanys 10-year yield fell to 3.57%, while French and Italian borrowing costs also declined but remained sharply higher for September. Falling energy prices and cautious central-bank signals offered relief, ahead of key inflation data.

TRUSTMF Small Cap Fund delivered the highest SIP return among smallcap funds over the past two years, followed by Bank of India Small Cap Fund and Union Small Cap Fund. The category average stood at 14.25%, while the benchmark returned 9.78%.

Baliga has set a target price of Rs 3,420 for Endurance Technologies, compared with its current market price of Rs 2,688, implying an upside of nearly 27%.

Hospital stocks came under pressure after the Supreme Court raised concerns over steep mark-ups on medicines sold through corporate hospitals.

Coca-Cola Co. plans to submit a draft prospectus by December for the anticipated IPO of Hindustan Coca-Cola Beverages Pvt. This offering, projected to garner about $1 billion, is expected to attract existing investors. With a valuation close to $10 billion, the deal highlights India's thriving investment landscape. The company has teamed up with various banks to streamline the process, riding the wave of recent IPO successes in the region.

MRPL shares fell over 5% after an explosion was reported at its Mangaluru refinery, with thick smoke seen emerging from the facility. Fire brigades and ambulances rushed to the site, while the cause remained unknown.

While the Nifty 50 fell nearly 5% in three months, several small-cap stocks bucked the trend. Fourteen Nifty Smallcap 500 stocks rallied 50-105%, led by Raymond and Welspun Corp.

South Koreas central bank sold a net $9.612 billion in foreign currency during the second quarter to support the weakening won, marking its seventh consecutive quarter of intervention. The won fell 2.1% against the dollar during the period, pressured by a stronger U.S. currency and global market volatility, raising inflation concerns.

Anthropic is preparing for a potential IPO as its revenue surges, but losses and infrastructure commitments balloon. The AI company has also warned of existential risks from advanced models and highlighted its heavy reliance on Amazon and Google.

Tejas Mk1A accounts for 43% of HALs order book and could emerge as a key re-rating trigger as deliveries gain visibility, Jefferies said. HAL CMD Ravi Kota expects to deliver 10 aircraft this year, ahead of Jefferies earlier estimate of five. The brokerage retained its Buy rating with a Rs 6,800 target.

European shares were set for their first monthly decline in six months as Middle East tensions, higher energy prices and rising bond yields heightened inflation and interest-rate concerns. The STOXX 600 gained 0.7% but remained on track for a September loss. Mining stocks advanced, while investors awaited key European inflation data.

The euro has fallen nearly 2% in September as energy prices, political uncertainty and a stronger dollar weigh on the currency. Concerns over German and French politics, rising borrowing-cost spreads and elevated European gas prices threaten growth. ECB rate expectations offer some support, but markets remain cautious about further euro weakness.

Sebi Chairman Tuhin Kanta Pandey said the regulator is not currently considering self-listing or self-trading of exchange shares, days after NSE CEO Ashish Kumar Chauhan suggested exploring the possibility. Pandey said no Sebi panel is discussing the proposal at present, while Chauhan had cited conflict-of-interest concerns but said the idea could be revisited as the market ecosystem matures.