Business
Stocks close higher with all eyes on the US Federal Reserve
Stock prices in London closed in the green on Wednesday, following the Bank of Canada’s rate cut and ahead of the US Federal Reserve’s own announcement, at which its own reduction is expected.
“Markets have fully priced in a 25-basis-point (US) rate cut, but the key lies in the updated summary of economic projections and (Fed Chairman Jerome) Powell’s tone,” commented Naga analyst Frank Walbaum. “Should policymakers reinforce the prospect of multiple cuts in the next months, equities could edge higher. Conversely, any signs of hesitation may trigger profit-taking at current levels.”
Meanwhile, in the UK, Donald Trump’s historic second state visit commenced.
Mr Trump and his wife were treated to a personal greeting outside Victoria House, a little-known property on the royal family’s private Windsor estate. His formal ceremonial welcome in Windsor Castle’s quadrangle featured the largest ever guard of honour for this occasion.
The FTSE 100 index closed up 12.71 points, 0.1%, at 9,208.37. The FTSE 250 ended up 127.94 points, 0.6%, at 21,619.81, and the AIM All-Share closed up 3.99 points, 0.5%, at 771.86.
On the FTSE 100, Barratt Redrow gained 1.9%.
The housebuilder’s pre-tax profit in the year to June 29, when including Redrow, which merged with Barratt in October, decreased on-year to £273.7 million from £363.2 million. Revenue declined to £5.58 billion accounting for both businesses, while total home completions rose to 16,565 from 14,004.
However, Barratt Redrow posted adjusted pretax profit of £591.6 million before purchase price adjustments, ahead of its July prediction in line with the consensus of £582.6 million.
Games Workshop rose 1.2%.
The fantasy game figurine maker and retailer said trading to August 31 is in line with its expectations for the current financial year. It also declared a dividend of 85 pence, more than doubling the total dividends declared so far in financial 2026 to £2.25.
On the FTSE 250, PRS REIT gained 6.2%.
The real estate investment trust has entered into non-binding heads of terms to sell its operating subsidiary, PRS REIT Holding Co Ltd, and potentially liquidate its assets. The proposed buyer is an investment vehicle owned by a fund advised by real estate investor Waypoint Asset Management.
In European equities on Wednesday, the CAC 40 in Paris closed down 0.5%, while the DAX 40 in Frankfurt ended up 0.1%.
The pound was quoted higher at 1.3661 dollars at the time of the London equities close on Wednesday, compared to 1.3642 dollars on Tuesday. The euro stood at 1.1847 dollars, higher against 1.1837 dollars. Against the yen, the dollar was trading lower at 146.35 yen compared to 146.65 yen.
In US news, building permits and housing starts declined in August, data published by the US Census Bureau and the US Department of Housing & Urban Development showed.
Privately-owned housing units authorised by building permits in August fell 3.7% to a seasonally adjusted annual rate of 1.31 million, from 1.36 million in July. This was below the FXStreet-cited consensus of an uptick to 1.37 million.
Privately-owned housing starts in August were at a seasonally adjusted annual rate of 1.31 million, down 8.5% from 1.43 million in July and below the consensus of a milder decrease to 1.37 million.
Stocks in New York were mixed. The Dow Jones Industrial Average was up 0.7%, the S&P 500 index down 0.1%, and the Nasdaq Composite down 0.5%.
The yield on the US 10-year Treasury was quoted at 4.04%, narrowing from 4.05%. The yield on the US 30-year Treasury was quoted at 4.64%, narrowing from 4.66%.
Meanwhile, the Bank of Canada cut its key interest rate as expected by 25 basis points to 2.5%.
“With a weaker economy and less upside risk to inflation, the Governing Council judged that a reduction in the policy rate was appropriate to better balance the risks,” the Bank of Canada said in its statement. “Looking ahead, the disruptive effects of shifts in trade will continue to add costs even as they weigh on economic activity.”
Brent oil was quoted lower at 68.04 dollars a barrel at the time of the London equities close on Wednesday from 68.32 dollars late on Tuesday.
Gold was quoted at 3,685.67 dollars an ounce against 3,680.32 dollars.
The biggest risers on the FTSE 100 were Marks & Spencer, up 14.4p at 357.8p; Centrica, up 5.8p at 169.2p; Coca-Cola Europacific Partners, up 210p at 6,640p; Segro, up 12.6p at 646p; and Barratt Redrow, up 6.8p at 373p.
The biggest fallers on the FTSE 100 were Fresnillo, down 56p at 2,186p; Anglo American, down 57.5p at 2,518.5p; BAE Systems, down 41p at 1,955.5p; Endeavour Mining, down 46.5p at 2,813.4p; and Glencore, down 4.3p at 306.2p.
On Thursday’s economic calendar, all eyes will be on the Bank of England’s interest rate decision. US weekly jobless data and Australian unemployment are also scheduled.
On Thursday’s UK corporate calendar, Renishaw releases its full-year results and Next has its half-year earnings. Auto Trader and Foresight Environmental Infrastructure both have their annual general meetings.
Contributed by Alliance News.
New Delhi: Chartered Accountant Nitin Kaushik has said that the market rewards those who remain invested long enough to reap the benefits of compounding. He said that compounding translates patience into long term rewards and speeds up wealth accumulation in the long term.
Kaushik claims that compounding with monthly SIPs is not as quick as people often expect. “Everyone dreams of doubling their money with a magical 10 pc return. But here’s the catch, compounding with monthly SIPs is not as fast as finance charts suggest,” Kaushik wrote.
_ The shocking truth about “10% annual returns” no one tells you!
Everyone dreams of doubling their money with a magical 10% return. But here’s the catch – compounding with monthly SIPs isn’t as fast as finance charts suggest.
If you invest monthly at 10% per year, it takes_
— CA Nitin Kaushik (FCA) | LLB (@Finance_Bareek) November 2, 2025
Kaushik states that SIP profits take a notably longer time to exceed the entire investment made as a result of the delayed compounding on each individual deposit. “If you invest monthly at 10 pc per year, it takes nearly 25 years for your investment gains to finally exceed your own contributed amount. For one time lump sum investors, gains cross principal much sooner in about 7 years,” he explained.
According to Kaushik, SIPs only construct the initial portions of the entire portfolio while the genuine rewards of compounding only materialize after years of investing. “For the first two decades, your portfolio is mainly funded by your patience, discipline and monthly SIPs. The market rewards you after you have stayed invested long enough to truly benefit from compounding,” he said.
Stop Chasing Get-Rich-Quick Schemes. Master These 3 Steps Instead.
Personal finance isn’t a mystery-it’s surprisingly simple. It boils down to just three steps that I see everyone overlook when overwhelmed by fancy investment talk.
First, increase your income. That doesn’t mean_
— CA Nitin Kaushik (FCA) | LLB (@Finance_Bareek) October 31, 2025
Kaushik said that even if the initial signs of growth seem sluggish, remaining invested allows for compounding to make later growth much quicker and significant. “Post tax and fee returns are slightly lower and market returns may fluctuate. If your portfolio is not growing fast today, relax the foundation is being built and the magic of compounding accelerates with time,” he wrote.
In an earlier post, Kaushik advised to “Stop Chasing Get Rich Quick Schemes”. He instead outlined three steps to establishing continuous financial growth.
“First, increase your income. That does not mean chasing every side hustle blindly, it means focusing on growing skillsets, finding smarter ways to earn and negotiating your worth confidently. That extra Rs 5,000 per month can be a game changer over time,” Kaushik wrote.
Step two is to reduce spending. “This is not about starving yourself or extreme frugality. It is about conscious choices of skipping that daily latte, avoiding impulse buys and prioritizing what genuinely adds value to your life,” he wrote.
Kaushik said that the final and crucial part is to “invest the difference. Just saving will not protect your money from inflation quietly chipping away year after year. Investing even small amounts and creates the magic of compounding that turns pennies into lakhs,” he wrote.
Business
IPO GMP, Allotment Status Today Live Updates: Lenskart IPO Vs Studds IPO; Should You Apply?
IPO GMP Today, Subscription, Allotment Status Live Updates: The primary market is witnessing bidding in two initial public offerings (IPOs) today, November 3 — Lenskart Solutions Ltd (Day 2) and Studds Accessories Ltd (Day 3). The allotment of the Orkla India IPO is also expected to be finalised today.
Also, fintech firm Pine Labs has announced the price band of Rs 210-221 per share for its upcoming Rs 3,900-crore IPO, which will remain open for public subscription between November 07, 2025 and November 11, 2025.
Lenskart Solutions IPO Day 2
Eyewear retailer Lenskart Solutions is witnessing its second day of bidding today, Monday, November 3. The price band of the Rs 7,278-crore IPO has been fixed in the range of Rs 382-Rs 402 apiece. On the second day of the IPO, its GMP has increased to 21.14% despite high valuation concerns.
Studds Accessories IPO Last Day
Helmets manufacturer Studds Accessories Ltd is witnessing the last day of its Rs 455-crore initial public offer (IPO). The Rs 455-crore offering will be closed at 5 pm today, Monday, November 3. The firm has fixed a price band of Rs 557-585 per share, valuing it at around Rs 2,300 crore at the upper end of the range.
Orkla India IPO Allotment Status
The initial public offering (IPO) of Orkla India Ltd, which owns spices and condiments brands MTR and Eastern, closed on Friday, with a strong 48.74x subscription. Now, investors await the allotment of the IPO, which is expected to be finalised today, November 3, 2025.
Investors can check the IPO allotment status on the websites of BSE, the NSE as well as on the portal of registrar Kfin Technologies.
Meanwhile, Billionbrains Garage Ventures, the parent company of online investment platform Groww, last week set the price band for its initial public offering (IPO) at Rs 95-Rs 100 per share, valuing the company at over Rs 61,700 crore (nearly $7 billion). The Rs 6,632-crore IPO will open for subscription on November 4 and close on November 7, with a special one-day early window for retail investors on November 3.
Last Updated:
Pine Labs sets IPO price at Rs 210-221 per share for Rs 3,900 crore issue, with listing on BSE and NSE on November 14, 2025.
Pine Labs Fixes Price Band
Pine Labs IPO Price Band, GMP, And Key Dates: The fintech firm Pine Labs has announced the price band of Rs 210-221 per share for its upcoming initial public offering (IPO) amounting to Rs 3,900 crore. The payment gateway platform is backed by Peak XV Partners, Mastercard, PayPal, and Temasek Holdings.
The IPO consists both fresh issue worth Rs 2,080 crore and offer-for-sale (OFS) of 8.23 crore equity shares. Previously, the issue had an offer-for-sale of 14.78 crore equity shares.
Peak XV Partners, Macritchie Investments, Madison India, Mastercard Inc, PayPal Inc, AIM Investment Funds, and Actis Pine Labs Investment Holdings are selling their shares via the issue.
At the upper price band, the valuation of Pine Labs has touched Rs 25,377 crore.
Axis Capital, Morgan Stanley, Citi, JPMorgan, and Jefferies are book running lead managers, while KFin Technologies Limited is the registrar.
Pine Labs Opening Window And Key Dates
Pine Labs IPO will open between November 07, 2025 and November 11, 2025. The allotment is likely to be concluded on November 12, 2025, with the listing of BSE and NSE scheduled for November 14, 2025.
Pine Labs Financials
Pine Labs turned profitable this quarter to report at Rs 47.86 million for Q1FY26 after a string of losses. However, the fintech received a tax credit of Rs 96.35 million because of losses.
FY25 still shows a loss of Rs 1,454.87 million, but it’s smaller than FY24’s Rs 3,419.03 million.
The company reported a total income of Rs 6,530.76 million. However, its total expenses stood at Rs 6,578.63 million for the June 2025 quarter.
Pine Labs IPO Objectives
The proceeds of the IPO will be utilized for investment in certain of its subsidiaries, namely Qwikcilver Singapore, Pine Payment Solutions, Malaysia and Pine Labs UAE for expanding presence outside India.
Moreover, a portion of proceeds will be used to build and strengthen IT assets, expenditure towards cloud infrastructure, technology development initiatives, and procurement of DCPs.
The company will also use proceeds to repayment/prepayment of certain borrowings availed by the company and its subsidiaries.
Pine Labs IPO GMP Today
According to market observers, unlisted shares of Pine Labs Ltd are currently trading at Rs 281 apiece in the grey market, against the upper IPO price of Rs 221. It means a grey market premium (GMP) of 27.14%, indicating decent listing gains for investors.
The GMP is based on market sentiments and keeps changing. ‘Grey market premium’ indicates investors’ readiness to pay more than the issue price.
Disclaimer: The views and investment tips by experts in this News18.com report are their own and not those of the website or its management. Users are advised to check with certified experts before taking any investment decisions.
Varun Yadav is a Sub Editor at News18 Business Digital. He writes articles on markets, personal finance, technology, and more. He completed his post-graduation diploma in English Journalism from the Indian Inst…Read More
Varun Yadav is a Sub Editor at News18 Business Digital. He writes articles on markets, personal finance, technology, and more. He completed his post-graduation diploma in English Journalism from the Indian Inst… Read More
November 03, 2025, 08:02 IST
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