Axis Bank successfully raised $800 million through a dual tranche dollar bond, tapping into the Reserve Bank of India's concessional swap facility. The bank secured $500 million via an Additional Tier 1 perpetual issue and $300 million from a five-year senior bond. Both issuances attracted significant investor interest, closing within initial price guidance and highlighting the bank's strong position in international markets.
Twin Star Holdings, a promoter entity of Vedanta, sold 6.51 crore shares worth nearly Rs 1,896 crore through a block deal on Tuesday. The transaction comes amid Vedanta's ongoing restructuring efforts following the listing of its demerged businesses and continued focus on debt reduction and value unlocking.
Sensex and Nifty plunged over 1% on Tuesday amid global market weakness, IT sector losses, a weaker rupee and fresh foreign fund outflows. Investors will track technical levels, global cues, FII activity and key stock movements on Wednesday as markets look for direction after the sharp decline.
US chip stocks experienced a significant tumble, impacting the broader market and wiping out billions in value. While tech giants like Nvidia and Tesla saw declines, bargain hunters emerged, offering some support. This selloff, attributed to concentrated trading and shifting sentiment rather than AI fundamentals, highlights the volatility in the tech sector, especially for newly public companies like SpaceX.
Wall Street witnessed a significant downturn in semiconductor stocks Tuesday, impacting major AI beneficiaries. Memory chipmakers like SanDisk and Micron saw substantial drops as investors re-evaluated high valuations amid escalating AI spending. This correction, also affecting broader tech, signals growing caution about the speed of returns from massive AI investments, prompting some to secure profits.
The government will launch an OFS in IRFC on Wednesday, offering up to a 2% stake through a base issue and greenshoe option. The share sale is part of the Centre's disinvestment strategy and aims to improve public shareholding, liquidity and compliance with Sebi's minimum public shareholding norms.
SpaceX shares fell another 3%, extending a three-day selloff that has wiped out over $600 billion in market value and pushed the stock below its listing price. Concerns over valuation, debt-funded AI expansion and broader technology sector weakness have weighed on investor sentiment despite the company's anticipated Nasdaq-100 inclusion.
Indian markets opened on a subdued note Tuesday, mirroring global trends. Major indices saw a dip as investors grew cautious about the Federal Reserve's potential hawkish stance. Concerns over escalating debt-fueled spending on artificial intelligence also weighed on sentiment, particularly impacting technology and semiconductor stocks. This cautious approach signals a watchful period for investors.
MF Performance
Major Indices
