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“We had a very detailed consultation on that and if as a part of that you feel that there needs to be relaxation in terms of how to do distribution of those kind of passive funds. We are open to any kind of suggestions so that we can facilitate growth of these funds across the country,” Buch said at an industry event.

Nomura invested in Five Star Business Finance through its India Investment Fund and Ireland Equity Fund. Max New York Life Insurance and Max Life Insurance Company were also buyers, collectively acquiring over 34 lakh shares worth Rs 275 crore.

Sebi chairperson Madhabi Puri Buch expressed optimism about the growth of the corporate bond market, driven by technology and transparency. She highlighted healthy primary market activity but noted a lack of secondary market engagement. Buch also addressed recent allegations against her and discussed upcoming regulations and initiatives at an Amfi event in Mumbai.

The year-on-year growth in credit offtake rose sharply to over 16% by the end of March 2024, up from below 6% in March 2021, excluding the impact of the HDFC and HDFC Bank merger. Meanwhile, deposit growth increased modestly to around 13% from 11% during the same period. To attract deposits, banks raised deposit rates faster than the interest rates on loans, which has exerted pressure on net interest margins.

U.S. Treasury yields rose on Thursday after data showed that jobless claims unexpectedly fell in the latest week, leading traders to cut bets that the Federal Reserve will make another 50-basis point cut at its November meeting.

Micron Technology surged close to 19% on Thursday, leading a rally in chip stocks after its strong revenue forecast signaled robust demand for the hardware used to power generative AI technology.

Indian benchmark indices Nifty50 and Sensex closed at fresh record highs for the sixth consecutive session on Thursday, driven by gains in auto and metal stocks. The S&P BSE Sensex rose 0.78% to finish at 85,836, while the NSE Nifty50 closed above 26,200 level.

Gold prices on Thursday jumped by Rs 400 to breach a record Rs 78,000 per 10 gram level in the national capital on sustained buying by jewellers as well as strong trends in global markets.

Deepak Jalan, Managing Director of Linc, stated that the Mitsubishi joint venture will allow the company to provide advanced Japanese technology at more affordable prices. The partnership plans to leverage Mitsubishi’s technology while manufacturing products locally in India and sourcing some raw materials domestically to further reduce costs.