Opening Bell:
Gift Nifty is up by 6.5 points in the early morning trade, indicating a positive opening for Indian stock market
Asian markets traded lower on Wednesday. Japan’s Nikkei 225 remained mostly unchanged, while the Topix declined by 0.3%. South Korea’s Kospi dropped 0.4%, with the Kosdaq also down 0.4%. Futures for Hong Kong’s Hang Seng index suggested a lower opening.
The U.S. stock market closed higher on Tuesday, with the Dow Jones Industrial Average reaching a record-high close for the second consecutive day. The Dow Jones Industrial Average edged up 0.02% to 41,250.50, while the S&P 500 rose 0.16% to finish at 5,625.80. The Nasdaq also gained 0.16%, closing at 17,754.82.
Stocks News:
👉 Jio Financial Services: Jio Leasing Services invested ₹67.50 crore in Reliance International Leasing IFSC (RILIL) by subscribing to 6.75 lakh, 8.1% cumulative optionally convertible preference shares. RILIL is a 50:50 joint venture with Reliance Strategic Business Ventures. The investment will fund RILIL’s operations. Additionally, Jio Financial increased its stake in Jio Payments Bank from 78.95% to 82.17% by subscribing to 6.8 crore equity shares for ₹68 crore to support its business activities.
👉 UPL Corporation’s step-down subsidiary, UPL Global, acquired a 20% stake in PT Excel Meg Indo, Indonesia, for $6.85 million. Following the acquisition, UPL Global will own 99.9998% of PT Excel, while UPL Europe will hold the remaining 0.0002%.
👉 PNC Infratech has been declared the lowest bidder for a highway and bridge project with a bid value of ₹380 crore from NHAI. The project entails constructing an additional 3-lane bridge over the Ganga River, connecting Buxar and Bharauli on NH-922 in Uttar Pradesh and Bihar, under the Hybrid Annuity Mode.
👉 Wipro has expanded its collaboration with Dell Technologies to integrate the Dell AI Factory into Wipro’s Enterprise AI-Ready platform. This partnership aims to enhance cost control and risk mitigation while giving enterprises access to top-tier technology, thereby accelerating AI adoption across cloud, data centre, and edge environments.
👉 The foreign institutional investors (FIIs) bought equities worth Rs 1,503 crore on August 27, while domestic institutional investors turned net sellers as they sold equities worth Rs 604 crore on the same day.
Domestic and International Events
- Effective April 1, 2025, the Unified Pension Scheme will ensure assured pensions for 23 lakh central government employees, boosting the government’s contribution to 18.5%. This change will cost the exchequer Rs 6,250 crore annually. Employees’ contributions stay at 10%.
- U.S. single-family home prices declined in June, marking the smallest annual increase in nearly a year, according to a report by Reuters. House prices dipped 0.1% month-on-month after remaining flat in May. On an annual basis, prices rose by 5.1% through June, the smallest year-on-year increase since July 2023, following an upwardly revised 5.9% gain in May.
- Gold prices were little changed, but held near a record high hit last week on prospects of imminent US Fed rate cuts and safe-haven demand. Spot gold was flat at $2,524.88 per ounce, while US gold futures rose 0.3% to $2,560.20.
- Crude oil prices rebounded after falling over 2% on Tuesday, buoyed by an industry report indicating a further decline in U.S. crude stockpiles. Brent crude rose 0.57% to $80.00 per barrel, while U.S. West Texas Intermediate (WTI) crude futures increased by 0.53% to $75.93 per barrel.
| EMERGING | LATEST | % 1D |
| Hang Seng | 17,875 | 0.4 % |
| Shanghai Composite | 2,849 | (0.2) % |
| DEVELOPED | LATEST | % 1D |
| Dow Jones | 41,251 | 0.0 % |
| DAX | 18,682 | 0.4 % |
| FTSE 100 | 8,345 | 0.2 % |
| Nikkei | 38,289 | 0.5 % |
| Straits Times | 3,398 | 0.1 % |
