Oil prices dipped Friday amid doubts about US sanctions on Russia's top oil firms. Brent and US crude futures saw declines after initial gains. These sanctions aim to pressure Russia over the Ukraine war. Chinese and Indian refiners are expected to reduce Russian oil purchases. OPEC stated readiness to cover any market shortages.
Gold prices saw a dip on Friday, recovering slightly after U.S. inflation data eased. This eased concerns about interest rate hikes by the Federal Reserve. However, gold is still heading for its first weekly decline in ten weeks. Investors are booking profits after a recent record high. Silver also experienced a decline. Platinum and palladium prices also fell.
In a landmark journey across Asia, President Donald Trump is set to tour Malaysia, Japan, and South Korea, culminating in a significant dialogue with China's Xi Jinping. His mission? To unlock lucrative trade opportunities and reinforce US presence in a region that is increasingly influenced by China.
European stock markets reached a new peak on Friday. This surge was fueled by lower than anticipated U.S. inflation figures. Hopes for reduced trade friction between the U.S. and China also contributed to the positive sentiment. Investors reacted to a series of company earnings reports. The continent-wide STOXX 600 index saw an increase. Major regional indexes also ended higher.
Friday brought significant gains to the Indian stock market, echoing the record-breaking performance of major U.S. stock indexes. The catalyst? Lower-than-expected inflation data that sparked fresh hopes for interest rate reductions by the Federal Reserve. Companies like Ford released impressive earnings, further igniting the market rally.
Indian markets saw a strong rally. Cooler inflation data and upbeat corporate earnings propelled US stock indexes to record highs. This performance sets a positive tone for upcoming earnings reports and an anticipated interest rate cut by the Federal Reserve. Investors are keenly watching major tech companies like Meta, Microsoft, Alphabet, and Apple for further market direction.
The Securities and Exchange Board of India, Sebi, has permitted portfolio managers to transfer their portfolio management services, PMS, business. This transfer can be of select investment approaches or the entire PMS operations. The regulator has outlined specific procedures for transfers within the same group and between different entities.
SBI Life Insurance experienced a 7% decrease in net profit during the second quarter of FY26, largely because of rising costs. Nevertheless, there's a silver lining as the Annualised Premium Equivalent surged by 10%.
The Securities and Exchange Board of India has issued a directive. Mutual funds can no longer invest in pre-IPO share placements. They are now restricted to participating only in the anchor investor portion or the public issue of an initial public offering. This clarification aims to prevent mutual funds from holding unlisted shares.
Indian banks can now finance company acquisitions. The Reserve Bank of India has released draft rules for this. Target companies must be listed, profitable, and have a good net worth. Banks will face exposure limits. These new guidelines aim to expand capital market lending for Indian corporates. Feedback is invited until November 21.
