Indian equities rebounded after two sessions of losses, with Sensex rising 444 points and Nifty reclaiming 24,000. Easing geopolitical tensions, trade deal optimism and lower oil prices boosted sentiment, while analysts maintained a bullish outlook above the key 23,800 support.
Domestic equities ended higher, supported by positive Asian cues and a sharp drop in crude prices following improved traffic at the Strait of Hormuz, alongside growing expectations of an imminent India–US trade deal.
Sebi uncovered an alleged Rs 144 crore pump-and-dump scheme by analysing airline bookings, hotel stays, food delivery records, WhatsApp chats, telecom data and banking trails. The investigation linked digital footprints to identify the alleged mastermind and entities behind five manipulated stocks.
Shutterstock shares plunged nearly 30% after Getty Images scrapped its $3.7 billion merger following UK regulator objections. The Competition and Markets Authority required divestment of Shutterstock’s editorial business, leading Getty to walk away. The collapse hit investor sentiment as both firms now face rising competition from AI-generated image tools.
Meta Platforms is reportedly exploring a move into the cloud computing business, aiming to lease out its surplus AI computing power. This strategic shift could lessen Meta's dependence on advertising revenue and position it as a competitor to tech giants like Amazon and Microsoft.
Retailers are witnessing an impressive 18% increase in leasing activities for shopping mall and high street locations across key Indian cities. Leading this surge are the fashion and food sectors, which are eagerly pursuing top-tier spaces despite the scarcity. This trend reflects a strong demand from consumers and suggests exciting prospects for further retail expansion as additional spaces become accessible.
General Motors has signed a landmark long-term agreement with Micron Technology to ensure a steady supply of vital memory and storage chips. This partnership comes in response to the increasing demand and costs for these crucial components, fueled by advancements in AI. Moreover, it sets the stage for joint innovation in future automotive technologies, underscoring GM's commitment to strengthening its supply chain resilience.
At an international monetary policy forum, Federal Reserve Chair Kevin Warsh stressed the necessity of maintaining a 2% inflation target. He notably refrained from giving any forward guidance on interest rates. Warsh's remarks have sparked debate among economists regarding potential future rate increases, as global central banks adopt varying approaches to tackle inflation and uphold the independence of the Federal Reserve.
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