Groww’s IPO is on its final bidding day, having garnered significant retail investor interest and a 1.64 times subscription by Day 2. The platform’s valuation stands at 33.8 times FY25 earnings, with a Rs 11 grey market premium indicating a potential listing price of Rs 111. Brokerages largely recommend subscribing, citing Groww’s strong market position […]

Asian stock markets declined Friday, mirroring Wall Street’s losses due to weak US economic data and interest rate uncertainty. Surging US layoff announcements reignited concerns about the labor market, while Fed officials signaled inflation remains a primary worry, tempering expectations of further rate cuts.

India and China, major buyers of Russian crude, have significantly reduced their oil purchases following new US sanctions on Rosneft and Lukoil. This has widened the price gap between Russian Urals and Brent crude in Asia to a year-high, signaling increasing pressure on Russia’s vital oil revenues. Refiners in both nations have halted December orders,

China’s October exports saw a significant 25% drop to the US, contributing to a 1.1% global decline, the weakest since February. This downturn highlights continued reliance on American buyers despite efforts to diversify markets. A recent trade agreement between the US and China may offer a modest boost to exports in the coming quarters.

October saw the highest job cuts in 22 years, with over 153,000 positions eliminated as employers increasingly adopt AI and face economic pressures. This surge, reflecting a cooling labor market, makes it harder for laid-off workers to find new roles, with forecasts suggesting a continued slowdown.

Bitcoin has fallen below $100,000, with long-term holders cashing out driving the downturn. This selloff, unlike October’s leveraged liquidations, stems from waning investor conviction, with significant profit-taking observed. Analysts warn this selling pressure could persist into next year.

Domestic institutional investors now hold a record 18.26% of Indian equities, surpassing foreign ownership for the first time in 13 years. This shift, driven by strong retail inflows into mutual funds, highlights India’s ‘retailisation’ amid global uncertainties and stretched valuations, making the market resilient to foreign selling.

Mahindra & Mahindra has divested its entire 3.5% stake in RBL Bank for Rs 678 crore, realizing a significant gain. This move precedes Emirates NBD’s open offer to acquire a substantial stake, aiming to merge its India operations with RBL Bank and bolster its capital.

India is restricting satellite usage linked to Chinese entities for domestic broadcasters and teleporters, enhancing national security amid geopolitical instability. This move encourages the development of domestic satellite capabilities, with authorities denying applications from Chinese and Hong Kong-based operator.