Top news and market moversthis week
India’s forex reserves up by $4.03 billion to $698.26 billion in week ending Sept 5
India’s foreign exchange reserves rose by $4.03 billion to reach $698.26 billion for the week ending September 5, according to the Reserve Bank of India. The increase was primarily driven by a rise in gold reserves and foreign currency assets. Gold reserves saw a significant gain of $3.53 billion, while foreign currency assets rose by $0.54 billion. This growth reflects strong external stability and enhances the country’s financial cushion for global trade, investment, and currency management. Higher reserves also boost investor confidence and support economic resilience in global markets.
The Shringar House of Mangalsutra, Dev Accelerator & Urban Company IPO
On September 12, India’s capital markets witnessed overwhelming investor enthusiasm as three IPOs saw massive oversubscriptions. The Shringar House of Mangalsutra IPO was subscribed 60.31 times, demonstrating strong faith in the jewellery brand. The Dev Accelerator issue enjoyed similarly impressive demand, with 64 times subscription, reflecting confidence in its flexible-workspace business model.
Urban Company led the pack with 108.98 times subscription, underscoring widespread investor interest in its services platform. These numbers highlight robust market sentiment, including participation from retail, non-institutional, and institutional investors alike, paving the way for promising listing prospects.
HDFC, Groww & TATA AMC NFOs
HDFC AMC, Groww AMC, and TATA AMC have each introduced new fund offers (NFOs), expanding their offerings to investors looking for diversified equity and multi-asset exposure.
The HDFC Diversified Equity All Cap Active FoF – Growth (Direct Plan) is a fund of funds scheme that invests in a mix of actively managed equity mutual funds across large-cap, mid-cap, and small-cap segments. Its objective is to provide long-term capital appreciation by offering diversified exposure across market capitalizations through a single investment.
Groww AMC has introduced the Multi Asset Allocation Fund– Growth (Direct Plan), which seeks to balance risk by investing across equities, debt, and gold.
Meanwhile, TATA AMC rolled out theTata Nifty Next 50 Index Fund – Growth (Direct Plan), providing passive exposure to the Nifty Next 50 index, targeting investors looking for large-cap opportunities beyond the Nifty 50. These NFOs cater to varying risk profiles and investment goals, offering investors more choice and flexibility in portfolio building.
Kuvera is a free direct mutual fund investing platform. Unless otherwise stated data sourced from BSE, NSE and kuvera.
