Economic Times

Indian equities extended losses on September 9 as rising oil prices pressured sentiment. Sensex fell 813 points and Nifty declined 204 points. IT stocks led sectoral losses, while metals gained. Technical indicators remained bearish, though oversold conditions could trigger a rebound.

The rupee fell by 34 paise, settling at 95.08 against the US dollar, amid rising crude oil prices that have breached USD 100 per barrel, raising inflation fears. The depreciation was fueled by sluggish equity markets and foreign institutional investor sell-offs. Additionally, escalating tensions in West Asia contributed to Brent crude futures surpassing USD 100, indicating a continued bearish trend for the local currency.

Amazon has launched its first sterling-denominated bond sale, with four maturities ranging from three to 19 years, as hyperscalers diversify funding sources to finance heavy AI infrastructure spending and data-centre expansion.

Edelweiss Mutual Fund CEO Radhika Gupta warns that constantly chasing higher-performing investments can undermine wealth creation. Investors may shift from goal-based investing to comparing returns, often chasing recent winners without considering risk, strategy or suitability. She advises focusing on financial objectives, consistency, time horizon and disciplined investing rather than short-term performance.

CLSA maintained an Underperform rating on Meesho with a Rs 150 target, citing stretched valuations and optimism around advertising monetisation, order frequency and logistics savings. The brokerage sees significant downside if these growth drivers fail to meet market expectations.

Sterlite Technologies shares hit a fresh 52-week high after rising 5% to the upper circuit, taking their 2026 gains to 745%. The rally follows the company’s growth plans, capacity expansion and strong Q1 performance, supported by robust demand for optical connectivity products.

Eleven days post the catastrophic floods in Nepal, search teams are tirelessly looking for those still missing. Authorities are confronted with the tough task of identifying casualties, as many bodies are severely affected. Approximately 5,000 people, including several foreign nationals, are still unaccounted for after the ice-rock avalanche. The nation seeks international assistance and advocates for climate justice while striving to restore basic services and repair the widespread damage.

Tata Motors has launched a €14.1-per-share cash tender offer for Iveco Group, valuing the Italian commercial vehicle maker at €3.82 billion. Backed by Iveco’s largest shareholder Exor, the deal targets full acquisition and delisting, amid strong Tata Motors commercial vehicle sales.

Kotak Securities estimates ITC’s tobacco business is valued at just 11X forward earnings, suggesting potential undervaluation. The brokerage sees stronger growth in non-tobacco businesses and believes splitting ITC’s tobacco and non-tobacco operations could unlock significant shareholder value.

Edelweiss Mutual Fund will launch Altiva Equity Long Short Fund on September 10, targeting consistent large-cap alpha through derivatives. The strategy seeks Nifty 100 outperformance, lower drawdowns and steadier returns, while potentially sacrificing some gains during sharp market rallies.

Foreign portfolio investors poured over $3.2 billion into Indian equities in August, marking their strongest monthly inflow since September 2024. Consumer Services led buying, followed by Financial Services and Healthcare, while Telecom and Power continued facing significant FPI outflows.

Patrick McGoldrick, former Tata Technologies CEO, sold shares worth Rs 165 crore. He offloaded 21 lakh shares, reducing his stake to 0.62 percent. Mutual funds and asset management firms acquired these shares at Rs 785 each. Tata Technologies reported an 8 percent net profit rise for the March quarter. The company had a strong stock market debut in November 2023.

Bitcoin hovered near $79,000 as investors awaited US inflation data for clues on Federal Reserve policy. Softer inflation could revive rate-cut hopes, while hotter data may reinforce higher-for-longer expectations. Ethereum and major altcoins also declined, while institutional crypto demand strengthened through ETF inflows despite recent volatility and mixed macro signals.

The U.S. Mint has unveiled a striking gold-colored dollar coin honoring President Donald J. Trump, coinciding with the nation's 250th anniversary celebration set for 2026. Crafted from copper, these collector coins will feature a unique privy mark on select pieces. This release represents a noteworthy occasion in the history of U.S. currency.

GRT Jewellers will acquire a 74.12% controlling stake in TBZ for up to Rs 1,033.71 crore, expanding its store network and national footprint. The deal combines two longstanding jewellery brands, subject to regulatory approvals and a mandatory open offer.

Blackstone-backed Epsilon Bidco plans to sell its 26.4% stake in packaging firm EPL Ltd through a block deal valued at approximately Rs 1,985 crore. The shares are offered at Rs 235 each, marking a discount to the current market price.

The National Stock Exchange saw substantial turnover in its Closing Auction Session. This session accounted for twenty-two percent of total cash market turnover on Monday. More than ninety-eight thousand investors participated in this significant trading period. The session coincided with the MSCI August 2026 Index Review implementation. This marks a successful first month for the closing auction mechanism.

On Monday, shares of the Adani group experienced notable downward pressure, with Adani Enterprises declining by nearly eight percent amid overall market instability. The recent alterations in MSCI Global Standard Indexes were implemented at the end of August, affecting several Adani firms through index rebalancing and fund reallocations. This situation added to the volatility observed throughout the trading day.

The National Stock Exchange’s anticipated IPO nears, prompting investors to consider buying unlisted shares now or waiting for the public offering. Unlisted trading involves private negotiations and off-market transfers through specialized platforms before the exchange-based listing occurs.

Federal Reserve Chairman Kevin Warsh highlighted a remarkable surge in global investments that is driving robust economic growth across the globe. The reversal of previous savings gluts marks a crucial shift in economic dynamics. Warsh emphasized that the notion of secular stagnation is no longer relevant today and expressed eagerness to discover the growth prospects of member economies.