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Asian stocks experienced a downturn, ending a prolonged winning streak due to uncertainty surrounding potential Federal Reserve interest-rate cuts. Despite the S&P 500 reaching a new record, driven by tech gains, broader market weakness persisted. Strong jobs data tempered expectations for imminent Fed cuts, influencing investor sentiment and market performance.
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SBI General Insurance in Mumbai has shown strong performance. The company increased its market share among private insurers to 6.19% in the June quarter. This represents a gain of 78 basis points. Key growth came from health and motor insurance. The insurer's market share increased by 72 bps and 47 bps in these segments, respectively.
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Rajeev Jain of Bajaj Finance is tasked with creating a succession plan. This follows Anup Saha's exit from a leadership role. The board has given Jain six months for this task. The new Managing Director will be announced by March 2028. The board extensively discussed the matter. Jain shared this update with analysts after the results call.
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