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U.S. stocks fell sharply on Tuesday, marking the start of a historically weak month for the market. The S&P 500, Nasdaq Composite, and Dow Jones Industrial Average saw their biggest declines since early August. Weak manufacturing data and anticipation of Federal Reserve interest rate decisions contributed to the downturn.

Stocks in news: Domestic markets remained steady with minor changes, continuing a gradual uptrend. Key stocks in focus include General Insurance Corp, ONGC, SpiceJet, GSK Pharma, and Cipla due to various developments. Notable updates include the government’s stake sale in General Insurance Corp and ONGC’s potential refinery project.

Asian stocks fell after Wall Street experienced its worst day since August 5, driven by weak US data and declining oil prices. The upcoming August jobs report is expected to show a modest increase in payrolls, while the Federal Reserve considers rate cuts to address economic concerns.

The secretary called for “deepening and widening” the corporate bond market, expanding access to insurance, pension and capital market products, and improving the quality and efficiency of financial services that would reduce the intermediation cost.

Finance Minister Nirmala Sitharaman has urged various ministries and departments to speed up capital spending and set quarterly targets. In a series of meetings, she reviewed productive spending and asset creation across infrastructure sectors. Discussions included national highways, private capital attraction, and FY25 capex plans for Bharat Net and 4G Continue Reading

In the past five years, nearly half of all smallcap funds have delivered impressive SIP returns exceeding 35%.

OfBusiness, an Indian shopping website backed by SoftBank, plans a $1 billion IPO in the second half of 2025. The company is in talks with major banks to manage the offer. Proceeds will be used for debt repayment and business growth. OfBusiness targets a valuation between $6 billion and $9 Continue Reading

A survey by Aditya Birla Sun Life Insurance reveals that despite India’s economic growth, salaried Indians face high uncertainty. Economic concerns like job loss and technological advancements such as AI are top worries. The survey highlights the need for substantial preparedness among the traditionally stable middle-class population.

The issue, estimated at Rs 4,701 crore, opens for non-retail investors on Wednesday and for retail investors on Thursday. Employees can subscribe to 50,000 shares.

Benchmarks use a straightforward rule of reward and reprimand for periodic asset adjustments: high-performing stocks are included, while underperformers are removed. This rebalancing ensures that an index accurately mirrors its intended market segment. The NSE Indices Committee has recently announced the September 2024 semi-annual reshuffle, impacting major indices.