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Wolfspeed s shares dropped nearly 48%, reaching their lowest point since 1998, after appointing Robert Feurle as the new CEO. The company faces challenges with decreased demand from automotive customers and awaits $750 million in federal funding, critical for its semiconductor manufacturing expansion under the CHIPS Act.

Gold prices have reached a record high due to investor concerns over potential global trade wars and ongoing geopolitical uncertainty. Increased demand for the safe-haven asset is driving the surge, with gold up 2% this week and set for its fourth consecutive weekly gain.

Bank lending growth in FY 25 until February slowed to 10.9% from last year s 20.6% due to a decline in retail and NBFC loans, according to RBI data. Credit to the services sector grew by 13%, while industry credit growth was 7.3% in the same period.

Axis Bank has become the first Indian bank to launch 24/7 near-real-time programmable USD clearing capabilities using J.P. Morgan’s Kinexys Digital Payments platform. This collaboration will enable Axis Bank s commercial clients to make cross-border payments anytime, streamlining payments and unlocking liquidity through blockchain technology, boosting the bank s position in the international banking sector.

A sharp market correction in FY25, driven by overseas investor selling and regulatory crackdowns, will impact salary increments and bonuses in the broking industry. Brokerages expect average increments to drop by 1.5-2 percentage points. The industry s cautious approach is due to ongoing market volatility and challenges from regulatory changes affecting profit margins.

Most banks are likely to extend their high-interest special deposit schemes beyond March 31 with lower rates as they assess liquidity conditions and RBI s monetary policy decisions. A rate cut and improved liquidity are expected to result in a decline in deposit rates in the near future.

Insurance companies in Mumbai anticipate a 15-20% hike in third-party motor insurance premiums from April 1 due to increasing claims and stagnant rates. With TP award inflation nearly at 12% annually impacting profitability, industry CEOs indicate a substantial hike is necessary.

Trump had pledged to levy reciprocal tariffs on all countries, including India, from April 2. However, there were expectations of some respite or waiver.

"There were mild dollar sales from oil companies and importers," traders said. Market participants are now waiting for the tariff announcement by the US on April 2 and are uncertain on the outcome of reciprocal tariffs.

Bharat Forge (BFL) has finalised a contract with the Ministry of Defence (MoD) to supply 184 units of the 155mm/52-calibre advanced towed artillery gun system (ATAGS).