Share Market

The MSCI Asia ex-Japan Index, which captures 10 major markets across Asia, excluding Japan, has fallen 12.8 per cent so far this month, on track to post the biggest drop since March 2020, when the pandemic had wreaked havoc on global markets, CNN reported.

"We do not expect this to be sustainable and regard it as indicative of a very low margin of safety. A simple valuation mean reversion anchored on bond yields indicates fears of 30 per cent downside in the Nifty," CLSA said. The difference between a 10-year Indian and US GSec yields has fallen to a 13-year low of 3.3ppt.

In a regulatory filing, Torrent Pharmaceuticals said that the Rs 224 crore Curatio has a strong presence in the cosmetic dermatology segment with a portfolio of over 50 brands, marketed in India. The purchase consideration will be a mix of Rs 115 crore cash and cash equivalents in the acquired business indicating an Enterprise Value of Rs 1,885 crore.

During early Asia trade on Monday morning, the pound fell by more than 4 per cent to $1.0327 before regaining some ground to around $1.05, said the BBC report. Monday's slump came just two days after the British currency fell to a fresh 37-year low against the US dollar as investors worried that large-scale tax cuts announced by the government would bring much fiscal uncertainty.

The Hang Seng Index fell as much as 2.6 per cent, breaking below 18,000 points, before recovering slightly, CNN reported.Australia's S&P/ASX 200 index fell 1.6 per cent, while Japan's Nikkei 225 and South Korea's Kospi both fell 0.6 per cent. China's Shanghai Composite Index slipped 0.3 per cent.

The rise in yields was also attributed to the uptick in yields on the US Treasury notes. At 1.45 p.m., the 10-year benchmark 6.54 per cent-2032 bond yield was trading at 7.3611 per cent, as compared to 7.2525 per cent closed on the previous trading session.

In a speech made at an event to mark the completion of the ACC-Ambuja Cements acquisition on September 17, Adani said this acquisition is India's largest ever inbound M&A transaction in the infrastructure and materials space and closed in a record time of four months.

The platform, which "plans to foray into financial services", currently serves over 7.5 million brands across the country. The funding round saw participation from existing investors PayU, the payments and fintech business of Prosus, and InfoEdge Ventures while Mitsubishi & Naya Capital joined as new investors.

Samsung's chip revenue for the April-June period came in at a record quarterly high of $20.3 billion on the back of solid server demand, taking up 12.8 percent of the global total of $158.1 billion, according to research firm Omdia. Samsung's Q2 share was slightly up from the 12.5 per cent it logged the previous quarter, reports Yonhap news agency.

The delivery giant's shares lost 21 per cent on Friday, its biggest one-day percentage drop ever, after the company said a macroeconomic slowdown had led to lower volumes of goods moving around the world in recent weeks, The Wall Street Journal reported. All three major US stock indexes fell Friday, capping a week where the S&P 500 declined 4.8 per cent and the Dow Jones Industrial Average dropped 4.1 per cent.