Groww shares surged 7% to an all-time high on Wednesday after Bank of America issued a buy rating on the stock, marking the brokerage's formal initiation of coverage. The move signals institutional validation for one of India's fastest-growing retail brokerage platforms, which has expanded rapidly on the back of a surge in first-time equity investors. BofA's buy call typically triggers positioning by funds that track institutional research mandates, compressing the window between rating issuance and price discovery. The all-time high print reinforces Groww's premium valuation trajectory at a time when Indian fintech listings are under close scrutiny for post-IPO performance and sustainable unit economics. Investors should watch for BofA's disclosed price target relative to current levels, any management guidance on active user growth and take rates, and whether peer brokerages follow with their own initiations, which would broaden the institutional buyer base and set a more durable floor under the stock.
Indian startups raised $5.2 billion across 501 deals in H1 2026, down 9% in value but up 7% in deal count year-on-year, per the Inc42 Indian Tech Startup Funding Report. The drop is driven by fewer mega-rounds, while AI funding surged 317% and growth-stage deal activity hit a multi-year high.
The BSE Sensex fell 893 points and the Nifty 50 shed 279 points on June 30, 2026, wiping out roughly Rs 6 lakh crore in investor wealth in a single session. Both indices dropped 1.16%, closing at 76,200.68 and 23,824.10 respectively.
Kotak Mahindra Bank shares fell nearly 3% to Rs 397.6 after CEO Ashok Vaswani announced plans to exit the bank. Investor concern now centres on succession timing and whether the bank's ongoing digital and deposit-growth strategy will stay on track.
South Korea's Kospi dropped 3% at Monday's open while Japan's Nikkei fell 1%, as escalating US-Iran conflict triggered a broad risk-off move across Asian markets. South Korea's heavy reliance on Middle East oil imports makes it especially vulnerable to geopolitical shocks of this kind.
