Indian latest finance news today is dominated by a sharp market sell-off as escalating Middle East tensions push Brent crude towards $110 a barrel and put renewed pressure on the Indian rupee. The Nifty 50 fell around 1% and the Sensex declined nearly 0.9% in early trade on Friday, while the rupee weakened towards Rs 95.7 against the US dollar. Investors are also tracking RBI intervention, the upcoming NSE IPO, ongoing public issues and developments across companies including HDFC Asset Management Company, Rentomojo and Manipal Payment and Identity Solutions.
HDFC AMC Appoints Ihab Dalwai as Senior Fund Manager
HDFC Asset Management Company has appointed Ihab Dalwai as Senior Member – Investments (Equity), with his redesignation as Senior Fund Manager – Equities effective September 11. Dalwai brings around 15 years of experience in equity research and fund management and previously served as Senior Fund Manager – Equity at ICICI Prudential Asset Management.
He will oversee equity assets across select HDFC Mutual Fund schemes, including HDFC Balanced Advantage Fund and HDFC Multi Asset Allocation Fund.
Rentomojo IPO Enters Final Subscription Day
Rentomojo IPO enters its final subscription day on Friday. The Rs 1,255.67 crore public issue has a price band of Rs 384–Rs 404 per share and a lot size of 37 shares. The issue includes a fresh issue of around Rs 150.10 crore and an offer for sale of about Rs 1,105.57 crore.
The IPO had attracted strong demand, with the total subscription reaching around 2.82 times according to data available before the final day. Non-institutional investors showed particularly strong participation.
Manipal Payment IPO Sees Retail Interest
Manipal Payment and Identity Solutions IPO is also scheduled to close on September 11. The ₹805 crore issue carries a price band of ₹322–₹339 per share and a lot size of 44 shares. The company provides payment, identification, smart-tagging and IoT solutions to banks, fintech companies and NBFCs.
As of the second day, retail investors had subscribed to 1.18 times their allotted portion, while overall subscription stood at 0.29 times, indicating relatively measured institutional participation.
NSE IPO Set to Become a Major Market Event
The National Stock Exchange is preparing for its long-awaited IPO, with the issue scheduled to open on September 17. The price band has been fixed at Rs 1,700–Rs 1,785 per share, while the issue size has been trimmed to about 126.4 million shares. At the upper end, the exchange could command a valuation of roughly Rs 4.42 lakh crore.
The NSE IPO will be an offer for sale by existing shareholders, meaning NSE itself will not receive fresh capital from the issue. The listing is expected around September 24.
Indian Markets Fall as Crude Oil Surges
Indian equity benchmarks opened sharply lower on Friday. The Nifty 50 declined around 1% to 23,243.70, while the Sensex fell more than 700 points to 74,194.03 in early trade. Brent crude climbed above $108 a barrel amid rising geopolitical risks in West Asia.
The surge in crude is particularly important for India because higher oil prices can increase the country’s import bill, inflationary pressure and pressure on the current account.
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Rupee Faces Fresh Pressure Against Dollar
The Indian rupee is expected to extend its decline as elevated crude prices and rising US Treasury yields weigh on emerging-market currencies. The rupee closed at Rs 95.44 per dollar on Thursday and was expected to open around Rs 95.62–Rs 95.68 on Friday.
Brent crude has gained almost 12% this week, increasing concerns over India’s external balances and inflation outlook.
RBI Intervenes to Support Rupee
The Reserve Bank of India is believed to have intervened in the foreign-exchange market as the rupee came under renewed pressure. Traders indicated that state-run banks may have been directed to sell dollars after the currency weakened sharply during Friday trading.
The intervention highlights the central bank’s efforts to cushion the domestic currency from the impact of elevated oil prices and global market volatility.
Nationwide Bank Strike Begins
Banking services may face disruption across India on Friday as the United Forum of Bank Unions has called a nationwide strike. Major public and private-sector bank customers could face difficulties with branch-based services, while digital banking channels are expected to remain important for routine transactions.
The unions have been seeking measures including a five-day banking week and changes to the revised Performance Linked Incentive scheme.
IPO Market Remains Active
India’s primary market continues to see strong activity, with several mainboard and SME IPOs either closing or opening for subscription around September 11. Rentomojo, Manipal Payment, Steamhouse India, Karamtara Engineering and Asset Reconstruction Company are among the issues nearing the end of their subscription windows, while Injecto Polymers and Century Business Media opened their SME offerings on Friday.
India’s IPO fundraising for 2026 is also projected to cross the Rs 1 lakh crore mark, highlighting continued investor and issuer appetite despite heightened volatility in the secondary market.
Market Outlook
With crude oil near $110, the rupee under pressure and US Treasury yields approaching 5%, Indian equities are likely to remain sensitive to geopolitical developments and global risk sentiment. Investors will closely track RBI action, crude prices, FII flows and the upcoming NSE IPO alongside company-specific developments.
