Stories
Xi's Grand Washington Welcome; NSE Debuts; Insurance Stocks Tumble; AI Risks & More
- •Chinese President Xi Jinping received a rare planeside welcome in Washington from Donald Trump, including a 100-foot red carpet and guard of honor, as US and China extended their trade truce.
- •Heads of Anthropic and OpenAI urged the UN to regulate AI, with Dario Amodei warning of risks to humanity and Sam Altman stating the world could lose control to AI.
- •NSE shares debuted on BSE at ₹1,800, a 0.8% premium, after its ₹22,561.57 crore IPO was subscribed 5.71 times.
- •Insurance stocks, including PB Fintech and Turtlemint, fell sharply following IRDAI's draft distribution reforms.
- •Other news includes Jaishankar's concerns over US Russia sanctions, Roshibina Devi's Asian Games silver, FSSAI action against quick-commerce platforms, and Maharashtra's severe drought warning.
Key Questions Answered
Chinese President Xi Jinping arrived in Washington on Wednesday for a three-day state visit and received a rare planeside welcome from US President Donald Trump, featuring a 100-foot red carpet and a 21-person guard of honour. Ahead of his arrival, US Treasury Secretary Scott Bessent announced that the US and China agreed to extend their trade truce by two months.
NSE shares made their market debut on the BSE at ₹1,800, marking a 0.8% premium over the issue price. This followed a ₹22,561.57 crore IPO that was subscribed 5.71 times during its three-day bidding period.
Insurance and insurance-linked stocks sold off sharply after the insurance regulator IRDAI released a draft paper on distribution reforms on Wednesday evening. Stocks like PB Fintech fell significantly, with brokerage firm Bernstein warning of near-term pain because the proposed cuts will negatively affect call center costs and take-rates
