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The S&P 500 and Nasdaq rose by 1% as investors returned following a major sell-off. Strong comments from Federal Reserve officials alleviated recession concerns. Traders expect rate cuts in the next Fed meeting. Nvidia boosted indices, while Uber and Caterpillar reported positive earnings. The Nasdaq is up 9% in 2024.

The dollar stabilized, causing the yen to move back from its seven-month high as markets calmed after a tumultuous start to the week driven by recession fears. The yen fell 1% due to interventions and a Bank of Japan policy shift. Market panic was intensified by a weak U.S. job report and dismal tech earnings, leading to global asset sell-offs.

​The Federal Reserve never acts in a very stable way on either side. They either overshoot on the upside or they overshoot on the downside and in both the cases they are often too late.

DP Singh of SBI MF discussed the strategic opportunity presented by the recent market downturn for creating a unique, innovative portfolio. He expressed confidence in India’s market resilience amid global volatility, highlighting a meticulously planned new fund that targets companies excelling in new processes and innovations, with a three to four-month development timeline.

Aditya Birla Capital, Birlasoft, and nine other stocks faced an F&O trade ban on Wednesday due to high open interest levels. The ban is lifted when open interest falls below 80%. Despite initial gains in Asian markets, Sensex closed 166 points lower. Stock-specific details were provided for each company under the ban.

Gland Pharma on Tuesday said its profit after tax declined by 26 per cent to Rs 144 crore for the first quarter ended June 30, 2024. The Hyderabad-based drug maker has reported a profit after tax (PAT) of Rs 194 crore in the April-June quarter of last fiscal.

The total insurance premium for the April-June quarter was reported at Rs 4,871 crore, growth of 62% on a YoY basis.

The consultation paper comes pursuant to the 2023-24 budget announcement which called for simplifying, easing and reducing cost of compliance by comprehensive review of existing regulations.

The operating earnings before interest, tax, depreciation and ammortisation (EBITDA) rose 25.5% YoY to Rs 343 crore. The EBITDA margins rose 190 basis points to 18.4%.Hospital revenues, which constitutes over 83% of overall revenues, increased 14.4% year-on-year (YoY) to Rs 1,549 crore led by 10% YoY and 4% QoQ increase in average revenue per occupied bed (ARPOB) per day during the quarter to Rs 65,924.