Market

India will launch its first exchange-traded weather derivatives contract next month, marking the country’s entry into the regulated climate risk market, with NCDEX announcing a Mumbai rainfall-linked futures product aimed at helping businesses hedge against monsoon uncertainty. The National Commodity and Derivatives Exchange (NCDEX) said the “RAINMUMBAI” contract, approved by the Securities and Exchange Board…

As worries over Middle East hostilities subsided due to confidence about US-Iran negotiations, Asian stocks rose along with Wall Street, lowering bond yields and crude oil prices. In response to its sales projection, Nvidia Corp.’s stock fell. The MSCI Asia Pacific Index increased by 1.2% as Japan’s Nikkei 225 surged a mammoth 3%. South Korean…

Samsung Electronics’ shares rose as much as 6.5% in morning trade on Thursday after the tech giant and its South Korean union reached a tentative pay deal, potentially averting a strike that had threatened to hit the economy and undermine global chip supply chains. The union said the planned 18-day strike by nearly 48,000 members…

Shares of JSW Energy Ltd. are in focus on Thursday, May 21, as the company has launched a qualified institutional placement (QIP) to raise funds. People in the know have told CNBC-TV18 that the company plans to raise up to ₹4,000 crore through this share sale to eligible institutional bidders. The indicative issue price is…

OpenAI is preparing to confidentially file for a US initial public offering in the coming weeks, a source ​familiar with the matter said on Wednesday, adding to a wave of blockbuster ‌listings anticipated in the year ahead. The plan by the ChatGPT maker, which was last valued at $852 billion, comes two days after it…

Shares of the SoftBank Group, listed on the Japanese stock exchanges, surged up to 20% on Thursday, May 21, led by three important factors. The Masayoshi Son-led company snapped a five-day losing streak after this surge. SoftBank’s fortunes are closely tied to the AI boom, considering the massive investments it has made in companies related…

Elon Musk has tied a massive chunk of his future compensation at SpaceX to some of the company’s most ambitious goals, including building human colonies on Mars and developing data centres in space.   Musk was awarded 1 billion performance-based shares earlier this year, Bloomberg reported, citing a US Securities and Exchange Commission filing.  …

Adani Ports & Special Economic Zone Ltd. (APSEZ) has announced the signing of a definitive agreement, through which it will acquire Jaypee Fertilizers & Industries Ltd., thereby expanding its logistics footprint. As per the transaction, Adani Ports will acquire 100% stake in Jaypee Fertilizers, which is held by Jaiprakash Associates, as per the resolution plan…

Oil can still rise to $120 a barrel, warns Drew Pettit, Director-US Equity Strategy/ETF Analysis & Strategy Research at Citi, who believes markets are underestimating the risk of a prolonged West Asia crisis. He says oil, not Fed policy, remains the key driver for global equities, inflation and risk assets. Pettit remains bullish on the…

The Indian rupee opened sharply higher against the US dollar on Thursday (May 21), strengthening by 52 paise to 96.30 per dollar compared with Wednesday’s (May 20’s) close of 96.82/$, as easing crude oil prices and softer US Treasury yields improved sentiment towards emerging market currencies. The domestic currency gained around 0.54% in early trade…