Indian markets rallied on Wednesday, with Sensex and Nifty gaining up to 1% amid easing crude prices, supportive global cues and optimism over India-US trade talks. Analysts highlight key technical levels for Nifty, while stock-specific action was seen in banking, IT, infrastructure and midcap counters across NSE trading data.
Elon Musk's SpaceX has successfully issued $25 billion in investment-grade bonds, a move that consolidates debt from X and xAI while lowering annual interest costs. This strategic financial maneuver leverages SpaceX's strong revenue streams from Starlink and government contracts to support the ambitious, cash-burning AI ventures.
The ITAT has held that the accrued interest component embedded in sale proceeds from non-convertible debentures cannot automatically be treated as capital gains and may instead be taxed as interest income. Tax experts say the decision could trigger greater scrutiny and fresh litigation.
India's gold prices hit a three-month low on Wednesday, dropping to Rs 1.44 lakh per 10 grams, as global markets react to a bolstered US dollar and expectations for elevated interest rates. Analysts attribute this slump to signals from the Federal Reserve and a notable downturn in technology stocks. Investors are now closely monitoring upcoming US inflation figures to gauge the next steps in the market.
IndiGo and Phoenix Mills are among two stock picks for Thursday, with both showing strong technical breakouts, robust volumes and bullish momentum, according to a market trading guide.
The Securities and Exchange Board of India (Sebi) has launched a new certification, 'NISM Series-XXV-B', specifically designed for investment advisory personnel focused on sales and client interaction. This initiative is intended to simplify operational processes for financial firms while maintaining compliance standards. However, professionals in primary advisory roles will still need to obtain 'NISM Series-X-A' and 'X-B' certifications, ensuring a comprehensive regulatory framework.
J.P. Morgan has elevated its forecast for the S&P 500 in 2026 to 7,800, driven by strong earnings from AI investments and a consistent economic environment. This optimistic prediction aligns with a recent trend of upgrades from various brokerages. Despite recognizing challenges such as increased stock issuance and stricter monetary policies, strategists maintain a positive view on earning growth, expecting substantial advancements until 2027.
The government’s offer for sale in IRFC received a strong response from institutional investors, with the non-retail portion subscribed 1.86 times on Wednesday. Following the robust demand, the Centre will exercise the greenshoe option, allowing it to sell an additional 1% stake in the railway financing company through the OFS route.
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