The Indian stock market has been on a downward trend, recording losses for the fifth straight day. Investors are pulling back on their portfolios in light of impending US job statistics and a critical Supreme Court verdict on tariffs.
Next week, Torrent Pharmaceuticals is set to launch a hefty debt sale, targeting around 12,500 crore in fundraising. This capital will play a critical role in facilitating the company's acquisition of JB Chemicals & Pharmaceuticals. The strategy includes issuing commercial paper and non-convertible debentures, showcasing the increasing reliance on debt markets for corporate buyouts.
In December, mutual fund investors took a gold and silver plunge, ramping up their stakes in precious metal funds. Meanwhile, equity and fixed-income investments cooled off, indicating a cautious approach in the market. Additionally, multi-asset allocation funds attracted more capital, underscoring a trend towards safer investment choices as investors hedge against uncertainty.
U.S. stocks reached record highs Friday following a mixed jobs report. While hiring slowed, the unemployment rate improved, suggesting a stable job market that might delay but not eliminate Federal Reserve interest rate cuts. Energy and housing sectors saw significant gains, while General Motors faced a substantial hit due to its EV pullback.
Walmart is set to join the prestigious Nasdaq-100 Index. The retail giant will replace British drugmaker AstraZeneca. This move takes effect on January 20. Walmart is also joining the Nasdaq-100 Equal Weighted Index and the Nasdaq-100 Ex-Tech Sector Index. Companies often switch exchanges for better alignment with investor bases and services. The Nasdaq-100 is known for including top non-financial companies.
Nicor Gas filed a $221 million rate increase request Friday with the Illinois Commerce Commission to continue replacing and repairing transmission pipelines and aging equipment, according to a news release.
