Saturday, October 03
Mumbai: Shares of IndusInd Bank surged 4.7% on Wednesday after brokerage Nomura upgraded the stock to a 'Buy' from 'Neutral'- marking one of the first upgrades following the recent accounting fiasco that led to top-level exits.The firm set a price target of ₹1,050, implying a 24% upside from Wednesday's close at ₹847."The commitment from the board to improve governance, the ongoing search for a new leadership, and the clear intent to 'start FY26 on a clean slate' are crucial positive signs," said Nomura. The recent remarks from RBI acknowledging the bank's recovery efforts also offer "a degree of regulatory comfort."121941394The brokerage said potential approval for the Hinduja Group (via IIHL) to raise its stake in the bank could help ease investor concerns.In March, IndusInd Bank dis
Mumbai: Savvy mutual fund investors have been buying the dips using equity Exchange-traded Funds (ETFs). Data from ETIG shows that over the past year, trading activity in ETFs on the National Stock Exchange (NSE) has seen spurts on days the Nifty has fallen more than 1%."We've consistently observed that ETF volumes spike on days when the market or the underlying index falls," says Swarup Mohanty, vice-chairman & CEO, Mirae Asset Investment Managers (India).For instance, on April 7, when Nifty fell 3.24% amid tariff hikes and backlash from China, ETFs worth ₹5,810 crore were traded on NSE. This was more than double the previous five-day average of ₹2,766 crore. Similarly, on February 28, when the Nifty 50 declined 1.86%, ETFs worth ₹2,813 crore changed hands compared with the five
The Bank of England held interest rates at 4.25% as expected on Thursday but said it was focused on risks from a weaker labour market and higher energy prices as conflict in the Middle East escalates. Noting the elevated global uncertainty and persistent inflation, the Monetary Policy Committee voted 6-3 to keep rates on hold, with Deputy Governor Dave Ramsden joining Swati Dhingra and Alan Taylor to vote for a quarter-point reduction. A Reuters poll of economists had forecast an 7-2 vote to keep rates on hold after the central bank cut borrowing costs last month for the fourth time since August 2024. "Interest rates remain on a gradual downward path," BoE Governor Andrew Bailey said, although policymakers added that interest rates were not on a pre-set path. "The world is highly unpredict
