Kusumgar has set its IPO price band at Rs 398–419 for a Rs 650-crore offer for sale, opening July 8. The issue has a grey market premium of about 33%, signalling strong demand. The company has reported steady revenue and profit growth, supported by a diversified industrial fabric portfolio.
Japanese stocks experienced an optimistic week with the Nikkei 225 showing an upward trend on Friday, driven by eased expectations regarding US rate hikes and encouraging local economic indicators. The market reacted positively to a weaker US jobs report, changing investor sentiment. With rising services activity in Japan, the Topix also notched its fifth day of gains, with Rohm and Sumco standing out as key performers.
Citi expects Brent crude to fall to $60 a barrel by year-end as shipping through the Strait of Hormuz normalises and supply concerns ease. The brokerage sees improving oil flows, while Goldman Sachs and Morgan Stanley also expect a supply surplus, signalling further downside risk for global crude prices.
South Korean equities rebounded sharply on Friday, with the Kospi jumping nearly 6%, led by strong gains in heavyweight stocks like Samsung Electronics and SK Hynix. The recovery came after earlier losses driven by a global tech selloff and concerns that the AI-driven rally may be peaking.
Indian investors found a reason to cheer as Australian shares posted their strongest week in three, driven by a global surge in commodity and financial stocks. Softer U.S. jobs data has eased concerns about further interest rate hikes by the Federal Reserve, boosting market sentiment. Miners and banks, key components of the Australian market, led the gains, with gold stocks experiencing a significant uplift.
PB Fintech shares fell sharply on Friday after reports said Temasek-linked MacRitchie Investments likely sold more than a 2% stake via a block deal at a discount. The proposed transaction, valued at around Rs 1,740 crore, weighed on investor sentiment.
Tesla delivered a stronger-than-expected 480,126 vehicles in Q2 2026, but shares slipped as investors looked beyond robust deliveries, focusing instead on AI ambitions and future growth prospects.
Equity-focused hedge funds delivered impressive double-digit returns in the first half of the year, outperforming by navigating complex markets and seizing sector-specific chances. While June saw some headwinds from volatile trading, particularly in South Korean stocks, the overall performance highlights skillful stock selection and strategic positioning. Systematic funds also posted gains, though faced challenges from tech and Chinese equity fluctuations.
San Francisco Fed President Mary Daly highlighted that US monetary policy remains slightly restrictive, but the economic outlook is increasingly uncertain. The surge in AI-driven investment and a strong job market are creating complex dynamics. While inflation could persist, slowing growth is also a possibility. Daly stressed the need for careful evaluation of data before any interest rate adjustments.
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