Gold and oil prices surged as geopolitical tensions escalated and the Federal Reserve maintained its stance on interest rates. Gold broke above $5,550, while oil advanced on concerns over Iran. US equity futures dipped amid mixed tech earnings, with investors awaiting further clarity on interest rate paths.
India's market regulator Sebi faces internal division regarding new conflict-of-interest rules for its top officials. The Sebi board is debating whether it can impose a code of conduct on its chairman and members, whose appointments are approved by the central government.
Persistent Systems stock sees a dip despite positive analyst outlook. The company is on track to meet its revenue guidance of $2 billion by FY27. Strong order bookings and improving profitability are key drivers. Healthcare segment shows renewed growth. Operating margins faced a temporary hit due to labour code changes. Analysts remain optimistic about future performance.
Reliance Industries and Capri Global will acquire Mumbais 1,500-bed SevenHills Hospital, ending an eight-year impasse. The hospital will be converted into a not-for-profit entity, with funds infused via equity support.
Indian oil explorers surged on Wednesday as global crude prices jumped due to Winter Storm Fern disrupting US output and tightening near-term supply. Oil India and ONGC shares climbed significantly, with the Nifty Oil & Gas Index outperforming broader markets. Analysts noted that stable crude prices directly boost upstream companies' earnings.
