HSBC expands offerings for India's affluent diaspora through a virtual bank in GIFT City, leveraging the metaverse. The bank aims to capture a share of the $112.5 billion remittances to India from non-residents. With the hiring of a UBS executive, HSBC eyes the potential $5.5 trillion wealth management industry in India by 2025.

The market showcases strong performance in diverse segments, with small-cap, mid-cap, and micro-cap stocks leading the positive momentum. Sectors like metal, pharma, and PSU banks also demonstrate resilience, marking a significant uptick in trading values amid the current market scenario.

Select stocks are clearly showing that they are making a comeback attempt.

InCred has a reduce rating for ER&D stocks Tata Tech and Tata Elxsi. Yes Securities suggests buying in Tech Mahindra, Indus Towers and Granules.

Emkay has initiated a buy rating on Man Industries with a target price of Rs 500, indicating a 26% upside from the current price of Rs 394.

The Nifty future closed positive with gains of 0.75% at 24047 levels on Thursday. India VIX was up by 0.78% from 14.04 to 14.15 levels.

Tech stocks like Amazon surged as market volatility persisted. Atlanta Fed President hinted at rate cuts amidst narrowing inflation. Micron's revenue forecast met mixed reactions, reflecting ongoing market uncertainty.

Prem Watsa's Fairfax Group divests 9.72% stake in CSB Bank, raising Rs 595 crore through block deals. Key buyers include Amansa Holding and institutional investors like ICICI Prudential MF and Abu Dhabi Investment Authority, reducing Fairfax's stake to 40% from 49.72%

Wall Street's equity capital markets see a resurgence with IPOs and equity offerings surpassing $20 billion in the first half of 2024, marking the strongest start since 2021. Enhanced investor engagement and favorable market conditions signal a potential bounce-back year, encouraging companies like Lineage to pursue significant listings amid balanced valuation discussions.

The Indian market closed in the green for the fourth day in a row on Thursday to hit fresh record highs.The S&P BSE Sensex climbed above 79,000 for the first time to hit a record high of 79,396 while the Nifty50 rose above 24,000 mark to hit a record high of 24,087.

"Indian Hotels stock has recently given a breakout of its range of the last four months and is making higher highs from the last six weeks. Traders can buy for a target of Rs 685 in the next 3-4 weeks," Shivangi Sarda, Analyst, Derivatives and Technical Research, Motilal Oswal Financial Services Ltd, said.

UltraTech, the Aditya Birla Group cement maker and the country's largest, bought 70.6 million shares of India Cements as a "non-controlling financial investment" at up to Rs 267 a share, the acquirer said in customary filings Thursday morning. UltraTech bought the shares from billionaire investor Radhakishan Damani, his family members and his investment firms Derive Investments and Derive Trading and Resorts.

Analysts said the sustained run-up in indices of late is part of the pre-budget rally, aided by renewed flows from foreign investors in June. The optimism, however, did not rub off on the broader market where there were more losers than gainers.

Friday is packed with risk events for markets after a relatively subdued rest of the week, with U.S. Democratic President Joe Biden and his Republican rival Donald Trump set to take the stage at 0100 GMT for their first debate of the year ahead of November's U.S. presidential elections.

The borrowing can be done in one or more tranches, by issuing debt instruments such as bonds and non-convertible debentures, the bank said.

A major cyber incident in these IT service providers may in turn impact multiple regulated entities simultaneously, causing a cyberattack on a system-wide level. "In the recent past, multiple incidents involving payment and settlement systems have led to significant disruptions in interbank transactions and payment failures," the report stated.

"With overall household savings declining to 18.4% of GDP (gross domestic product) in FY23 from an average of 20% of GDP over 2013-2022, and coupled with an increasing trend in financial liabilities, household debt warrants close monitoring from a financial stability perspective," the Reserve Bank of India (RBI) said in its latest Financial Stability Report released on Wednesday.

"Under the baseline scenario, the aggregate CRAR (capital to risk weighted asset ratio) of 46 major banks is projected to slip from 16.7% in March 2024 to 16.1% by March 2025," the RBI said in its June 2024 Financial Stability Report.

Sagar Cements re-appointed S Anand Reddy as Managing Director and S Sreekanth Reddy as Joint Managing Director of the company for a period of three 3 years.

This was followed by more prominent deals in recent times. In 2022, Adani Group acquired ACC and Ambuja Cements from Holcim. The acquisition of ACC-Ambuja cement assets was valued at ₹81,400 crore.

India Cements had mandated ICICI Bank and EY to arrange for the debt from lenders including private credit funds, as reported earlier and they have been in talks with lenders including private credit funds.

The criteria for exit would apply to only those stocks which have completed at least six months from the month of entry into the derivative segment. while for existing stocks in the derivatives segment, the exit criteria on the basis of performance would be applicable three months after the date of issuance of circular, Sebi said.

With he and President Joe Biden running neck-and-neck ahead of their first debate Thursday night, investors have already been trying to game out how the Republican's return to the White House could affect everything from the electric-vehicle industry to the direction of long-term interest rates.

In a remarkable turnaround, the hotel stock surged from ₹380 on June 23, 2023, to ₹649 on June 26, 2024, a staggering 70% increase within a year. However, the rally lost some steam in the latter half, peaking at ₹602 in February 2024 before facing resistance. The stock subsequently consolidated within a range, finding support at ₹480-500 and facing resistance at ₹600-622.

Further, the minimum subscription period has been cut from 3 to 2 working days, and the listing timeline has been reduced from T+6 to T+3 working days, which will be initially optional for one year and mandatory thereafter, Sebi chief Madhabi Puri Buch said in a press conference.

The stock has returned 21% over the last year, underperforming the Nifty's 28%. However, it's currently trading above both its 50-day and 200-day moving averages, suggesting positive momentum.

In a significant move, the regulator approved a fixed price process for voluntary delisting, offering companies an alternative to the existing reverse book-building mechanism. Sebi chief Madhabi Puri Buch emphasised that unregulated entities providing market-related advice are acting unlawfully. The regulator also introduced a new delisting framework for investment holding companies, with the fixed price set at a 15% premium over the floor price. Additionally, SEBI granted exemptions to certain UNI funds from the beneficial ownership rule.

The promoters owned a 65.24% stake in the company as of March 31, 2024. Shares of Polycab have rallied 28% so far this year, compared to a 10% gain in the Sensex.

The borrowing can be done in one or more tranches, by issuing debt instruments such as bonds and non-convertible debentures, the bank said.

In a significant move, the regulator approved a fixed price process for voluntary delisting, offering companies an alternative to the existing reverse book-building mechanism. Sebi chief Madhabi Puri Buch emphasised that unregulated entities providing market-related advice are acting unlawfully. The regulator also introduced a new delisting framework for investment holding companies, with the fixed price set at a 15% premium over the floor price. Additionally, SEBI granted exemptions to certain UNI funds from the beneficial ownership rule.

​ JSW Infrastructure on Thursday said it will acquire 70.37 per cent shareholding in Navkar Corporation for around Rs 1,012 crore, paving the way for its foray into the logistics industry.

India's market regulator on Thursday warned of rising risks from a surge in derivative trading volumes, with small investors jumping in to trade risky options contracts.

Benchmark Sensex breached the historic 79,000 mark while Nifty scaled the 24,000 peak for the first time on Thursday as buying in blue-chip stocks like Infosys, Reliance and TCS helped markets extend gains to the fourth straight day and close at lifetime high levels. "Technically, the index has achieved a short-term consolidation breakout target of 24,000 levels, and managed to close above it. If the index holds above 24,000 levels, then rally could extend towards 24,250-24,500 in the short term," said Hrishikesh Yedve, AVP Technical and Derivatives Research at Asit C. Mehta Investment Interrmediates

​Indian private lender RBL Bank said on Thursday it will raise up to 65 billion rupees ($779 million) through a combination of qualified institutional placement (QIP) of shares and debt sale.

The SFB entered new states in FY24, which is expected to support the loan book growth in the medium term. The analysts have trimmed the earnings expectations citing possibility of higher loan loss provisioning over the next two years.

The regulator has introduced a Product Success Framework for single stock futures and options, aiming to enhance liquidity and participation in the derivatives market while ensuring market development, regulation, and investor protection. The framework will come into effect six months after the circular's issuance.

The broad-based S&P 500 gained 0.2 percent to 5,488.04, while the tech-rich Nasdaq Composite Index advanced 0.3 percent to 17,863.99.

The sale was done at an average price of Rs 277 apiece. Through the deal, Damani and his controlled entities bagged around Rs 1,914 crore.

The decision was taken in a Sebi board meeting that was held on Thursday.

HCL Technologies is likely to see a block deal worth Rs 1,757 crore (approximately $200 million) on Friday, according to a term sheet issued by Citigroup.

Salil Parekh, CEO of IT major Infosys, has settled a matter related to alleged insider trading violation by agreeing to pay Rs 25 lakh, said the Securities and Exchange Board of India (Sebi).

The sale was done at an average price of Rs 277 apiece. Through the deal, Damani and his controlled entities bagged around Rs 1,914 crore.

The underlying trend of Nifty continues to be positive. A sustainable move above 24000-24100 levels could pull Nifty towards another Fibonacci extension resistance of around 24380-24400 levels in the near term.

Sebi has tweaked the guidelines for registration of Foreign Portfolio Investors (FPIs) pertaining to non-resident Indians, overseas citizens of India and resident Indians as participant of such foreign investors.

The Securities and Exchange Board of India (SEBI) is also evaluating giving listed companies more time to publicly disclose litigations or disputes that they are involved in, it said in a consultation paper published on Wednesday.

Heavyweights RIL, HDFC Bank, and ICICI Bank were among the biggest contributors to Nifty's rise. Sectorally, buying was noticed in banks, FMCG, metals, and pharma. For Nifty50, the latest 1,000-point gain from 23,000 to 24,000 has been the 2nd fastest ever. Nifty took 23 sessions to climb 1,000 points.

Kotak analysts anticipate a robust 20.2% CAGR in earnings per share for FY2024-27E. This growth is driven by a 12.3% organic revenue CAGR and a 150-basis point expansion in EBIT margins.

Heavyweights RIL, HDFC Bank, and ICICI Bank were among the biggest contributors to Nifty's rise. Sectorally, buying was noticed in banks, FMCG, metals, and pharma. For Nifty50, the latest 1,000-point gain from 23,000 to 24,000 has been the 2nd fastest ever. Nifty took 23 sessions to climb 1,000 points.

The Emkay Capital Builder AIF is designed to generate long-term capital appreciation for investors through a carefully curated portfolio of equity and equity-related securities. The fund will maintain a multi-cap portfolio comprising approximately 20-25 stocks, ensuring a diversified and balanced investment strategy.