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Fed Governor Chris Waller explains that rising long-term bond rates, despite Fed rate cuts, stem from concerns over large U.S. fiscal deficits and the market s ability to absorb them.

The Nifty Pharma index closed 1.27 per cent up at 21076.0.

After an uptick during the first month since its public listing on November 13 2024 where it gained 58% from the offer price of ₹390, the stock has gradually sunk below this threshold. In 2025 so far, it has lost 37%. The stock may remain under pressure in the short term given rising fixed costs and drag on contribution margin due to the fast pace of store additions.

IL&FS Group has started an interim distribution of Rs 5,000 crore, including Rs 3,500 crore in InvIT units and Rs 1,500 crore in cash for debt resolution. These units belong to Roadstar Infra Investment Trust, holding six major road assets. This interim payout will increase IL&FS’ total resolved debt to Rs 43,000 crore, crossing 70% of their overall resolution target.

Titan Co is in discussions with Qatar s Mannai Corp to acquire a stake in Damas Jewellery, estimated at ₹4,500 crore. The acquisition would boost Titan’s presence in the GCC region. Previous talks failed due to valuation disputes, but renewed negotiations indicate strong interest from Titan.

Japanese and South Korean equity indexes traded in a tight range, while those in Australia declined. Futures pointed to gain in Hong Kong and an advance in US benchmarks after a holiday on Monday.

DMart founder Radhakishan Damani has seen value of his holdings shrink by ₹64,000 crore, or 28%, since October 1, falling from ₹2.31 lakh crore to ₹1.67 lakh crore, according to primeinfobase.com data.

In an exclusive interview with ET, Bansal shared that Navi is actively engaging with bankers to determine the right timing for the IPO. While the exact dilution and valuation details have not been finalised, Bansal confirmed that the company is in a strong position and evaluating its options.

European governments are poised to further scale up their plans for defence spending in the coming years, which should benefit the equity prices of European defence companies

Since September 27, the Nifty Smallcap 250 and Microcap 250 indices have plunged 21.4% and 20.2%, respectively, while the Nifty Midcap Index has slumped 17.7% in the same period.