Retail investors bought SpaceX shares on Wednesday after a significant price drop. Individual traders purchased over twenty-two million dollars worth of stock. This buying activity followed the company's first earnings report since its public debut. SpaceX shares experienced a notable decline, falling below one hundred ten dollars. The company reported increased AI revenue and new cloud agreements.
Circle's profits in the second quarter significantly outperformed expectations, attributed to the growing adoption of USDC tokens. The surge in USDC circulation, accompanied by a marked increase in onchain transaction activity, highlighted a positive trend. Despite a dip in the reserve return rate during this period, stronger circulation volumes partially mitigated the effects of reduced yields.
Indian equities ended marginally higher despite sharp swings driven by closing auction session confusion. RBI maintained rates, raised FY27 GDP outlook and lowered inflation forecast. Realty, auto and metal stocks outperformed, while analysts expect Nifty to remain range-bound unless it decisively crosses 24,800.
The US Treasury has announced it will keep its issuance of both coupon and floating-rate notes consistent for the upcoming quarters. This strategy aims to alleviate worries around yield increases and inflation. Analysts suggest auction sizes will hold steady until next year, with a projected $125 billion in notes to be sold next week, reflecting robust market demand for Treasury bills.
DLF aims for a Rs one lakh crore sales pipeline over five years. The company will focus on luxury housing and avoid REITs for now. Profitability is expected to nearly double from 2028 onwards from residential sales. DLF plans to expand its customer base beyond Delhi-NCR and Mumbai. Younger buyers and NRIs are increasingly contributing to the company's sales.
The Securities and Exchange Board of India (Sebi) has concluded adjudication proceedings against Raghav Raj Kanoria, managing director of India Power Corporation. Kanoria has agreed to pay a settlement sum of Rs 24.7 lakh to settle allegations concerning misstatements in financial records for two fiscal years. He resolved the issue without admitting to any wrongdoing, leading to the conclusion of the proceedings.
Advanced Micro Devices shares declined significantly after its revenue forecast fell short. Investors sought clearer proof the company can capitalize on the AI spending boom. SpaceX's decision to exclusively use rival Nvidia's chips also impacted AMD's stock. The company projects data-center revenue to more than double by 2027. AMD's stock has more than doubled this year on AI chip expectations.
Indian markets surrendered early gains to end lower, but realty, auto and metal stocks outperformed. Analysts recommend Kirloskar Brothers and TBO Tek as breakout buys, citing bullish technical patterns, strong momentum, improving volumes and favourable risk-reward setups for short-term gains.
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