BSE shares fell for two days in a row ahead of Sebis board meet amid reports of a plan to curb weekly F&O expiries. Analysts caution that regulatory changes, including expiry shifts and open interest norms, may impact derivatives trading volumes and BSEs earnings outlook.
The US Census Bureau's latest data reveals a slight dip in income inequality and a rise in median household income. The nation is becoming more diverse, with increases in Asian and Hispanic populations, while fewer people are getting married. Additionally, residential mobility decreased amid rising housing costs for both homeowners and renters.
Larry Ellison, the Oracle founder, briefly surpassed Elon Musk to become the world's richest person. This happened after Oracle shares surged, increasing the company's market value significantly. Oracle's rise is due to promising forecasts for its cloud infrastructure revenue. The company has also secured major deals in the artificial intelligence sector. This shift highlights the dynamic nature of wealth rankings.
A policy clash between the U.S. and EU over Russian oil exports to India is anticipated to slightly reduce crude flows in October. President Trump's demand for India to halt Russian oil imports, coupled with increased tariffs, contrasts with the EU's price cap scheme. This discord creates confusion and compliance challenges, potentially weakening sanctions against Russia.
Motilal Oswal initiates coverage on Bajaj Housing Finance with a neutral rating. The brokerage anticipates moderate growth and subdued return ratios. Valuations appear stretched, trading significantly above the IPO price. AUM and profit are expected to rise, but at a slower pace. NIMs may face pressure. The financier has a granular loan book with good asset quality.
Gold prices declined on MCX due to profit booking before US inflation data. October gold futures traded lower, while silver futures also showed weakness. US PPI data had previously cooled off, supporting prices. Market awaits CPI data for further direction. Geopolitical tensions and central bank buying support gold and silver. Experts suggest ranges for trading gold and silver on MCX.
Reliance Communications shares fell after receiving a show-cause notice from the Central Bank of India proposing to classify Rs 400 crore of loan accounts as fraud and report to the RBI. The company is under ongoing insolvency proceedings.
Charlie Kirk, a conservative figure, was shot at Utah Valley University. The incident occurred during a campus event. Kirk was addressing questions when the shooting happened. Panic ensued as the crowd dispersed. The shooter remains at large. The event sparked condemnation and discussions about political violence. Vigils and tributes were held in Kirk's honor. Police are investigating the incident.
