Wednesday, March 11
India's 2025 primary market is witnessing a surge in large IPO subscriptions, a departure from previous cycles. Abundant institutional liquidity and sharper investor selectivity are driving this trend, with IPOs over Rs 5,000 crore averaging 17.7 times subscription. This indicates a maturing investor mindset rewarding scale, profitability, and brand-led growth.
China's consumer spending growth slowed to its weakest pace in over a year in October, with retail sales rising just 2.9%. This highlights ongoing challenges in boosting household confidence amid property market stress and external uncertainties. Factory output also missed expectations, indicating a broader economic slowdown.
Gold prices declined in India's derivatives market on Friday, mirroring global trends as traders adjusted expectations for a US Federal Reserve rate cut. Domestic contracts saw a dip, with December futures settling lower. Globally, Comex gold hovered around $4,195 per ounce, influenced by a softer dollar and government data uncertainty.
Wholesale inflation turned negative in October, dropping to minus 1.21 percent. Prices for food, fuel, and manufactured items saw significant decreases. This broad-based correction, influenced by factors like GST rate cuts, also pushed retail inflation to a historic low. Economists anticipate the Reserve Bank of India may reconsider its policy stance following these developments.
India is actively expanding its free trade agreement network, with ongoing discussions underway with the US, EU, New Zealand, Oman, Peru, and Chile. Commerce Minister Piyush Goyal highlighted these efforts and the potential for infrastructure collaboration, emphasizing the reduction of global trade barriers to facilitate the free movement of goods, services, and capital.
South Korea and the US have finalized a trade and security agreement, reducing US import duties on South Korean products from 25% to 15%. The deal includes South Korea building nuclear-powered submarines and establishing new partnerships in shipbuilding, AI, and the nuclear industry. South Korea will also invest $350 billion in the US.
Reliance Group chairman Anil Ambani has requested to appear virtually before the Enforcement Directorate for a FEMA investigation concerning alleged illegal overseas fund transfers of Rs 100 crore related to a highway project.
Gold price prediction today: Gold prices are exhibiting a bearish bias, with a short-term consolidation expected. Technical indicators suggest fading upside momentum, with resistance at ₹1,27,200 and support at ₹1,26,100.
Stock market today: The BSE Sensex concluded at 84,562.78, up by 84.11 points (0.10 per cent), whilst the NSE Nifty finished at 25,910.05, gaining 30.90 points (0.12 per cent).
Asian markets fell Friday, mirroring a Wall Street decline, as investors grew cautious about the US Federal Reserve's interest rate decision and potential tech bubble. Concerns over inflation and jobs data, alongside warnings from Fed officials against premature easing, fueled investor apprehension. Oil prices, however, climbed on supply disruption fears.
