Category: Business News & Economy

SBI Funds Management IPO: The issue is attracting positive sentiment in the grey market, where it is commanding a GMP of around 16%, signalling expectations of a strong listing.

Strong US stock gains in 2026 are being overshadowed by historical midterm election volatility, AI valuation concerns and bearish warnings. While corrections are common in midterm years, analysts expect markets to recover strongly after elections, supported by favourable historical trends.

The SBI Funds Management IPO was subscribed 52% on day one. Eligible SBI shareholders can apply under a reserved quota, competing only with fellow shareholders, potentially improving allotment chances. Investors may also apply separately in the retail category, while post-record-date SBI buyers remain ineligible.

Mutual funds’ favourite stocks have rewarded investors handsomely in CY26. ETMarkets’ analysis shows that 12 stocks held by over 100 mutual fund schemes each have surged between 50% and 105% so far this year, reflecting strong institutional conviction and robust market momentum.

Benchmark indices Sensex and Nifty fell sharply on Tuesday as soaring crude oil prices, renewed rate hike fears, weak Q1 earnings from HCL Tech, a weaker rupee and fragile global cues triggered broad-based selling.

China’s leading memory chipmaker, CXMT, is set to debut on the Shanghai Stock Exchange on July 27 after launching a 29.5 billion yuan IPO, expected to be Asia’s largest this year.

Veteran investor Rekha Jhunjhunwala sold over 1.07 crore Canara Bank shares during the April–June quarter, reducing her stake from 1.54% to 1.42%, according to the lender’s latest shareholding data. The stake sale comes amid an 18% decline in the PSU bank’s stock in 2026.

Disclaimer: The content of this post is sourced from external sites and is for informational purposes only. All rights and…

Disclaimer: The content of this post is sourced from external sites and is for informational purposes only. All rights and…

Disclaimer: The content of this post is sourced from external sites and is for informational purposes only. All rights and…