US stocks ended higher on Friday as accelerating consumer prices strengthened expectations of a Federal Reserve rate hike next week. The Dow, S&P 500 and Nasdaq all gained, while Dell surged to a record high. Oil prices fell but remained sharply higher for the week amid concerns over Middle East supply disruptions.
Demat 2.0 can allow investors to receive tokenised bonds instantly against payments made through the central bank digital currency (CBDC), significantly reducing the time gap in securities settlement, NSDL Managing Director Vijay Chandok said, while noting that wider trading will depend on regulatory approval and market readiness.
BlackRock's flagship private credit fund saw lower redemption requests in the third quarter, signalling that pressure in the sector may be easing. Withdrawal requests at other BlackRock funds also declined, while analysts said improving sentiment and a clearing redemption backlog could support private credit firms and asset managers.
Finance Minister Nirmala Sitharaman highlighted artificial intelligence as a double-edged sword for financial systems. She advocated for a soft-touch regulatory framework for emerging technologies and innovation. The minister urged the Reserve Bank of India to accelerate its digital rupee pilots and capabilities. Sitharaman also dismissed pessimism regarding India's demographic dividend, emphasizing youth-led growth.
Granules India promoter Krishna Prasad Chigurupati sold 1.72 crore shares worth about Rs 1,500 crore through block and open-market deals. The sale funds the second tranche of a preferential issue, while promoter holding falls to 31.08% following the transaction today.
Bank deposits grew 17.8% year-on-year at the end of August, the fastest pace in a decade, driven largely by a surge in FCNR-B deposits after RBI opened a special window for dollar inflows. Credit growth eased slightly to 19.1%, while banks continued to face challenges in mobilising domestic savings.
Recent inflation figures have exceeded expectations, leading many to anticipate a rate hike from the Federal Reserve. Core consumer prices increased more than what economists forecasted last month, and alongside rising oil prices, this trend indicates that inflation is on an upward trajectory. Traders are now estimating an 85% likelihood of a quarter-point increase in the upcoming meeting, with further rate hikes expected in December.
Gold prices firmed over one percent on Friday, finding a short-term floor. Strong United States inflation data lifted expectations of a Federal Reserve rate hike next week. Market participants had a hike seventy percent priced in before the data release. Gold demand in India was subdued this week due to volatile prices. Investment demand remained strong in top consumer China, while silver and platinum also saw gains.
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