Tue, Sep 17, 2024 8:39 AM
Gold hovers near record high on prospects of bigger Fed rate cut
A Flip by Avya Verma
📌Nazara Technologies announced its largest fundraise of Rs 900 crore to boost its growth trajectory. 📌Budget carrier SpiceJet, which opened its QIP, received a strong response from investors. 📌NTPC Green Energy on Wed filed draft papers for IPO worth up to Rs 10,000 crore. 📌Aavas Financiers said its board has approved the issuance of NCDs to raise Rs 630 crore.
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The Bank of England looks set to keep interest rates on hold on Thursday as it awaits signs that inflation risks are quashed, putting the focus instead on a decision about bond sales that could feed into Finance Minister Rachel Reeves' first budget. British inflation held steady in August but sped up in the services sector, which is key for the BoE, showing forecasters expect interest rates.
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📌Asian stocks rose along with US equity futures after the Federal Reserve cut interest rates by half a percentage point and signaled further easing in the months ahead. 📌Japanese equities rallied in early trading, helped along by fresh weakness in the yen against the dollar. 📌US stock futures advanced after the S&P 500 initially touched a record before closing 0.3% lower.
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