Reserve Bank of India will conduct a variable rate reverse repo operation on Friday. The aim is to absorb ₹1.25 lakh crore from the market. This follows a recent injection of ₹50,000 crore into the banking system through a two-day variable rate repo. An overnight VRR operation was also conducted on Thursday.

Rajeev Jain of Bajaj Finance is tasked with creating a succession plan. This follows Anup Saha s exit from a leadership role. The board has given Jain six months for this task. The new Managing Director will be announced by March 2028. The board extensively discussed the matter. Jain shared this update with analysts after the results call.

SBI General Insurance in Mumbai has shown strong performance. The company increased its market share among private insurers to 6.19% in the June quarter. This represents a gain of 78 basis points. Key growth came from health and motor insurance. The insurer s market share increased by 72 bps and 47 bps in these segments, respectively.

Asian stocks experienced a downturn, ending a prolonged winning streak due to uncertainty surrounding potential Federal Reserve interest-rate cuts. Despite the S&P 500 reaching a new record, driven by tech gains, broader market weakness persisted. Strong jobs data tempered expectations for imminent Fed cuts, influencing investor sentiment and market performance.

Markets faced pressure on the weekly expiry day, reversing previous gains. Several companies reported their Q1 results, with IEX, SBI Life, Bajaj Finance, and Adani Energy showcasing profit growth. However, Cyient experienced a decline in net profit and revenue. Additionally, Cigniti Technologies saw Morgan Stanley acquire a stake, and Bajaj Consumer Care approved a share buyback.

RBI data reveals a surge in liquid demand deposits and currency with the public, indicating increased liquidity in the banking system and real economy. This rise is attributed to policy measures like liquidity easing, a pickup in rural activity, and higher disposable incomes from tax benefits.

Ajay Seth, a 1987-batch IAS officer, has been appointed as the chairman of IRDAI for a three-year term, succeeding Debasish Panda. With over three decades of experience, Seth s primary focus will be on expanding insurance access and affordability in India. He assumes the role as the insurance sector faces challenges in raising penetration, currently at 3.7% of GDP.

Indian Energy Exchange shares experienced a significant drop. This decline followed the Central Electricity Regulatory Commission s decision. The commission plans to implement market coupling . This move is expected to impact IEX s revenue streams. Market coupling aims to unify power prices. Hindustan Power Exchange and Power Exchange India may benefit. IEX s market share could potentially decrease as a result.

Trent s shares plunged nearly 4% following a downgrade by Goldman Sachs from buy to neutral, citing concerns over slowing sales and underperformance of Zudio stores. The brokerage reduced its price target by 21% to ₹5,500. Despite expecting Zudio s FY25 sales to grow by 60%, Goldman Sachs lowered Trent s revenue and earnings estimates.

The rupee has weakened against the dollar recently due to tariff uncertainties, foreign portfolio investor outflows, and central bank dollar purchases. The upcoming trade deal with the US and India s involvement in BRICS, along with oil imports from Russia, add complexity. Concerns about US fiscal sustainability are favoring developed markets over emerging ones, impacting the rupee.