Market Snapshot Overview
The market saw varied activity. BSE witnessed a 52-week high of 95, while the 52-week low was 156. The NSE also saw action, with a 52-week high of 31 and
a low of 74. Several stocks saw price and volume shocks, and top gainers and losers were reported across both exchanges. IPOs are also heating up with Groww aiming for a $700 Mn–$1 Bn IPO.
AI's Impact Emerges
The rise of AI is significantly reshaping the job market. Young graduates are now being offered an average starting salary of $131K due to the increasing demand for AI skills. This reflects a global trend with specific implications in India, requiring a focus on upskilling and adapting to the changing employment landscape.
US Economic Growth
US GDP growth was revised up to 3.3%, driven by AI investment. This has global implications, potentially affecting investor sentiment in India. The positive growth could also influence BTA (Bilateral Trade Agreement) talks with the US, with a reversal of extra tariffs, which will likely aid revival of these discussions.
IPO & Fintech Growth
The IPO market remains active, with 16 IPOs either open or upcoming. Groww secured SEBI approval for its $700 Mn–$1 Bn IPO, marking a significant listing in the Indian fintech sector. This signals growing investor confidence and the expansion of fintech companies in India.
Other Market Updates
Other notable developments include Nykaa's global expansion with the launch of Kay Beauty in the UK. Also, there were updates on fuel and precious metal prices, like petrol, diesel, gold and silver rates. Investors also kept a close eye on indices performance and mutual funds.
