SpaceX's initial public offering is significantly oversubscribed, with demand building for a potentially record-setting debut. Banks are closing order books for institutional investors, with pricing expected June 11 and trading to commence the following day. The company is offering 555.6 million shares at $135 each, aiming to raise approximately $75 billion and valuing it at about $1.8 trillion.
Indian equities ended sharply lower as weak global cues and geopolitical tensions triggered broad-based selling. Nifty slipped 1.04% to 23,123, with analysts advising caution and a sell-on-rise strategy. Market breadth remained weak, while select stocks attracted buying interest and several counters hit fresh 52-week highs.
Two promoter-group charitable entities of Motilal Oswal Financial Services sold shares worth about Rs 153 crore through block deals, with HDFC Life acquiring the entire stake. The transaction reflects strong institutional interest in financial-sector stocks and does not indicate any change in promoter control.
Lilly presented full data from two retatrutide trials, one in treatment naive type 2 diabetes patients and another in patients with obesity, at the American Diabetes Association meeting in New Orleans.
The government has launched a two-day offer for sale in NLC India, aiming to divest up to 3% stake through a base offer and greenshoe option. The issue, priced at a discount to the market rate, could raise up to Rs 1,263 crore and forms part of the broader disinvestment programme.
Nvidia has not placed an order with Intel yet, but has been evaluating whether the company's technology can be used to make a processor that combines four graphics chips into a single unit, the report said.
Billionaire investor Ray Dalio said the artificial intelligence market is displaying characteristics of a bubble, despite its transformative potential. He noted that major technological revolutions often create speculative excesses and warned that challenges around profitability and monetisation could eventually trigger a market correction.
Major Wall Street indexes saw a strong rebound. This recovery was driven by gains in chip stocks. Signs of de-escalation in Middle East tensions also provided support. The Dow Jones, S&P 500, and Nasdaq Composite all registered gains at the opening bell.
MF Performance
Major Indices
