Eternal, formerly Zomato, may see passive outflows of $840 million as FTSE and MSCI reduce its index weightage due to a Foreign Ownership Limit cut, impacting global investor exposure.
Pune-based KSH International has filed a DRHP with SEBI to raise Rs 745 crore via IPO, comprising a Rs 420 crore fresh issue and Rs 325 crore OFS. The magnet winding wire manufacturer exports to 24 countries and plans to use proceeds for debt repayment, machinery expansion, and a solar plant setup. Its FY24 revenue rose 32% to Rs 1,383 crore.
Hong Kong has said it will open its universities to more international students, highlighting those affected by the US government's move this week to block Harvard from enrolling foreign nationals. A US judge on Friday halted the administration's move to prevent Harvard from admitting foreign students after the university sued, calling the government's action unlawful.
Oil prices increased on Friday. This happened as U.S. buyers adjusted positions before the Memorial Day weekend. Concerns about U.S.-Iran nuclear talks also played a role. Traders fear supply disruptions if talks fail. Donald Trump suggested tariffs on EU goods. OPEC+ may increase output in July. The market awaits the impact of tariffs on oil demand.
Gold prices surged over 2% on Friday, marking their best week in six, driven by investors seeking refuge in the safe-haven asset. Renewed tariff threats from U.S. President Donald Trump and a weaker dollar fueled the rally. Platinum also saw gains due to tight market conditions, while silver rose and palladium slipped, all posting weekly gains.
The US dollar faced a broad decline on Friday. Investors sold off the currency due to President Trump's escalating trade war. He suggested tariffs on the European Union. This action renewed worries about the impact on the global economy. The Japanese yen gained strength. Data showed Japan's inflation rose. The British pound also increased against the dollar.
American stock markets experienced a decline on Friday. This downturn resulted in a weekly loss. Donald Trump's proposal of 50% tariffs on European products triggered this fall. Technology and communication sectors faced significant losses. Apple's stock also dropped following tariff warnings. Trade tensions and tariff talks contributed to market uncertainty.
Global markets experienced a jittery week. President Trump's trade threats caused major stock indexes and the dollar to decline. He suggested tariffs on European Union imports and Apple iPhones. Apple shares fell. The dollar weakened against the yen and euro. Government bonds rose due to safe-haven buying. Oil prices increased. Gold also saw a surge as economic anxiety increased.
The Reserve Bank of India's record dividend payout of nearly Rs 2.7 trillion to the government has been made possible due to robust gross dollar sales, higher foreign exchange gains, and steady increases in interest income, according to a report by the State Bank of India (SBI).
