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Stock Market LIVE: GIFT Nifty flat; Asia mixed; S&P, Nasdaq hit new highs; Indogulf IPO listing eyed
7:08 AM
Stock Market LIVE Updates: Buy-buy AI: Why India's retailers are betting big on AI-powered growth
Stock Market LIVE Updates: Last month, French beauty giant L'Oréal teamed up with artificial intelligence (AI) powerhouse Nvidia to supercharge research, drive innovation, and scale up AI-powered ads and product recommendations.
Meanwhile, luxury titan LVMH is leaning on AI to ride out softening demand as it looks to boost sales, retain customers and court new ones, and stay ahead of shifting trends.
Both hope AI can reveal what traditional tech doesn't.
'Retail has always been a data-rich industry, making it a natural fit for AI innovation,' says Dahnesh Dilkhush, executive director, customer success, Microsoft India and South Asia. So, retailers are increasingly turning to it to unlock the value in that data. READ MORE
7:06 AM
Stock Market LIVE Updates: Adani to bring all cement units under one roof; eyes 140 mt single entity
Stock Market LIVE Updates: The Adani group has started the process to consolidate all its cement operations under a single entity as part of its 'One Business, One Company' strategy. The group is doing this in a bid to create a streamlined and efficient cement powerhouse, housing both Ambuja and ACC brands, among others.
As part of this ambitious integration plan, the Adani group has started the formal process of merging two of its recently acquired companies — Sanghi Industries and Penna Cement — into Ambuja Cements. This process is expected to conclude by December, according to people aware of the development. However, the group will promote 'Adani Cement' as the mother brand, for which it has already started the process of brand awareness. READ MORE
7:06 AM
Stock Market LIVE Updates: Trump says US struck trade deal with Vietnam that imposes 20% tariff on its imports
Stock Market LIVE Updates: President Donald Trump said Wednesday that the United States has struck a trade deal with Vietnam that includes a 20 per cent tariff on the Southeast Asian country's imports to the US.
Trump's announcement on Truth Social said that the deal will give the US tariff-free access to Vietnam's markets.
Vietnam also agreed that goods would be hit with a 40 per cent tariff rate if they originated in another country and were transferred to Vietnam for final shipment to the United States.
The process, known as transshipping, is used to circumvent trade barriers. China, a top exporter to the US, has reportedly used Vietnam as a transshipment hub.
Trump wrote that 'Vietnam will pay' that 20 per cent duty, but tariffs are taxes on foreign goods that are paid by the importers of those products.
The agreement was unveiled less than a week before a 90-day pause on many of Trump's so-called reciprocal tariffs was set to expire, sending US duties on imports from dozens of countries soaring.
7:04 AM
Stock Market LIVE Updates: Patchy rural recovery and a weak capex weigh on Q1 growth outlook
Stock Market LIVE Updates: The April to June quarter (Q1FY26) has been an uneven period for economic activity, with factory output, exports and private capex hitting a rough patch, even as the farm sector and services like transport and construction have picked up pace along with government capex.
While the spike in global uncertainties as well as unseasonal rains and an early monsoon have hurt industrial output, urban demand continues to face headwinds and though rural demand is accelerating, it is still patchy, reckoned several economists.
They expect Q1 GDP growth to be in the range of 6-7 per cent, roughly in line with the 6.5 per cent uptick recorded in the same quarter of FY25, but slower than the 7.4 per cent growth for the preceding quarter estimated by the National Statistics Office (NSO). The NSO will release national income numbers for the quarter at the end of August. READ MORE
7:02 AM
Stock Market LIVE Updates: RBI bars prepayment penalty on floating rate micro, small business loans
Stock Market LIVE Updates: The Reserve Bank of India (RBI) has directed banks and non-banking financial companies (NBFCs) not to charge any prepayment penalty on floating rate loans to micro and small enterprises (MSEs), sanctioned or renewed from January 1, 2026.
Observing that 'availability of easy and affordable financing to micro and small enterprises is of paramount importance', the banking regulator said its supervisory reviews revealed divergent practices by lenders with regard to the levy of prepayment charges on loans sanctioned to MSEs, which led to customer grievances and disputes. READ MORE
7:01 AM
Stock Market LIVE Updates: Investment bankers earned an estimated $273 million in fees from equity capital market (ECM) activities in the first half of 2025, a 3.4 per cent increase from $264 million in the same period last year, according to LSEG Data & Analytics.
This rise came despite a 16 per cent drop in funds raised, with domestic ECM totalling $25.7 billion compared to a record $30.8 billion in H1 2024.
The number of ECM deals also fell 31 per cent, from 286 to 196.
Initial public offerings (IPOs) surged 21 per cent to $5.9 billion, the highest first-half total ever, driven by two $1-billion IPOs from HDB Financial Services and Hexaware. READ MORE
7:00 AM
Stock Market LIVE Updates: Asia-Pacific markets trade mixed
Stock Market LIVE Updates: Asia-Pacific markets trade mixed
-- Nikkei up 0.16 per cent
-- ASX 200 down 0.45 per cent
6:58 AM
Stock Market LIVE Updates: US markets settle higher
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How a GOP rift over tech regulation doomed a ban on state AI laws in Trump's tax bill
A controversial bid to deter states from regulating artificial intelligence for a decade seemed on its way to passing as the Republican tax cut and spending bill championed by President Donald Trump worked its way through the U.S. Senate. But as the bill neared a final vote, a relentless campaign against it by a constellation of conservatives - including Republican governors, lawmakers, think tanks and social groups - had been eroding support. One, conservative activist Mike Davis, appeared on the show of right-wing podcaster Steve Bannon, urging viewers to call their senators to reject this "AI amnesty" for "trillion-dollar Big Tech monopolists." He said he also texted with Trump directly, advising the president to stay neutral on the issue despite what Davis characterized as significant pressure from White House AI czar David Sacks, Commerce Secretary Howard Lutnick, Texas Sen. Ted Cruz and others. Conservatives passionate about getting rid of the provision had spent weeks fighting others in the party who favored the legislative moratorium because they saw it as essential for the country to compete against China in the race for AI dominance. The schism marked the latest and perhaps most noticeable split within the GOP about whether to let states continue to put guardrails on emerging technologies or minimize such interference. In the end, the advocates for guardrails won, revealing the enormous influence of a segment of the Republican Party that has come to distrust Big Tech. They believe states must remain free to protect their citizens against potential harms of the industry, whether from AI, social media or emerging technologies. "Tension in the conservative movement is palpable," said Adam Thierer of the R Street Institute, a conservative-leaning think tank. Thierer first proposed the idea of the AI moratorium last year. He noted "the animus surrounding Big Tech" among many Republicans. "That was the differentiating factor." Conservative v. conservative in a last-minute fight The Heritage Foundation, children's safety groups and Republican state lawmakers, governors and attorneys general all weighed in against the AI moratorium. Democrats, tech watchdogs and some tech companies opposed it, too. Sensing the moment was right on Monday night, Republican Sen. Marsha Blackburn of Tennessee, who opposed the AI provision and had attempted to water it down, teamed up with Democratic Sen. Maria Cantwell of Washington to suggest striking the entire proposal. By morning, the provision was removed in a 99-1 vote. The whirlwind demise of a provision that initially had the backing of House and Senate leadership and the White House disappointed other conservatives who felt it gave China, a main AI competitor, an advantage. Ryan Fournier, chairman of Students for Trump and chief marketing officer of the startup Uncensored AI , had supported the moratorium, writing on X that it "stops blue states like California and New York from handing our future to Communist China." "Republicans are that way ... I get it," he said in an interview, but added there needs to be "one set of rules, not 50" for AI innovation to be successful. AI advocates fear a patchwork of state rules Tech companies, tech trade groups, venture capitalists and multiple Trump administration figures had voiced their support for the provision that would have blocked states from passing their own AI regulations for years. They argued that in the absence of federal standards, letting the states take the lead would leave tech innovators mired in a confusing patchwork of rules. Lutnick, the commerce secretary, posted that the provision "makes sure American companies can develop cutting-edge tech for our military, infrastructure, and critical industries - without interference from anti-innovation politicians." AI czar Sacks had also publicly supported the measure. After the Senate passed the bill without the AI provision, the White House responded to an inquiry for Sacks with the president's position, saying Trump "is fully supportive of the Senate-passed version of the One, Big, Beautiful Bill." Acknowledging defeat of his provision on the Senate floor, Cruz noted how pleased China, liberal politicians and "radical left-wing groups" would be to hear the news. But Blackburn pointed out that the federal government has failed to pass laws that address major concerns about AI, such as keeping children safe and securing copyright protections. "But you know who has passed it?" she said. "The states." Conservatives want to win the AI race, but disagree on how Conservatives distrusting Big Tech for what they see as social media companies stifling speech during the COVID-19 pandemic and surrounding elections said that tech companies shouldn't get a free pass, especially on something that carries as much risk as AI. Many who opposed the moratorium also brought up preserving states' rights, though proponents countered that AI issues transcend state borders and Congress has the power to regulate interstate commerce. Eric Lucero, a Republican state lawmaker in Minnesota, noted that many other industries already navigate different regulations established by both state and local jurisdictions. "I think everyone in the conservative movement agrees we need to beat China," said Daniel Cochrane from the Heritage Foundation. "I just think we have different prescriptions for doing so." Many argued that in the absence of federal legislation, states were best positioned to protect citizens from the potential harms of AI technology. "We have no idea what AI will be capable of in the next 10 years and giving it free rein and tying states hands is potentially dangerous," Rep. Marjorie Taylor Greene wrote on X. A call for federal rules Another Republican, Texas state Sen. Angela Paxton, wrote to Cruz and his counterpart, Sen. John Cornyn, urging them to remove the moratorium. She and other conservatives said some sort of federal standard could help clarify the landscape around AI and resolve some of the party's disagreements. But with the moratorium dead and Republicans holding only narrow majorities in both chambers of Congress, it's unclear whether they will be able to agree on a set of standards to guide the development of the burgeoning technology. In an email to The Associated Press, Paxton said she wants to see limited federal AI legislation "that sets some clear guardrails" around national security and interstate commerce, while leaving states free to address issues that affect their residents. "When it comes to technology as powerful and potentially dangerous as AI, we should be cautious about silencing state-level efforts to protect consumers and children," she said.
