Gold futures edged higher and silver hit a record Rs 1,28,294/kg on Fed rate cut hopes. Traders eye U.S. inflation, job data, dollar index, and support-resistance levels for direction.

Airfloa Rail Technology SME IPO sees robust investor demand on Day 2, with grey market premium surging to 118%. Retail investors led subscriptions at 34x, while QIB participation remains muted. IPO aims to raise Rs 91 crore, funding expansion, debt repayment, and working capital.

Infosys has announced a buyback of ₹18,000 crore at ₹1,800 per share, a 19% premium over the previous closing price, leading experts to suggest a buy on dips strategy. Analysts anticipate this move could initiate a rally in the stock, supported by a strong balance sheet and potential EPS boost.

Despite a flat broader market, select penny stocks have delivered substantial returns, with some surging up to 500%. Consecutive Investments leads the rally, while others like Gayatri Highways also saw significant gains. Analysts caution about the high risks associated with these stocks, including volatility and weak governance, as market sentiment turns cautious towards smallcaps.

The Indian rupee saw gains on Friday. This is due to hopes of Federal Reserve rate cuts. Forward premiums reached levels not seen since May. The rupee had previously hit an all-time low. Pressure on the rupee continues due to tariffs and speculator demand. The Fed is expected to cut rates multiple times. Data supports the likelihood of these cuts.

Asian gold markets experienced muted demand this week due to record-high prices. China saw significant discounts as retail purchases slowed, while its central bank continued its gold-buying spree for the tenth month. In India, buyers hesitated despite the approaching festive season, anticipating a price correction.

BSE shares experienced a surge, climbing as high as 2.7% following reports that Sebi s board meeting wouldn t address ending weekly F&O contract expiries. This news reversed an 8% stock decline triggered by speculation about a shift to monthly expiries. While Sebi considers longer-duration F&O contracts, any changes will involve industry consultation, aiming to balance market quality and hedging.

Indian government bonds experienced a slight dip in early trading on Friday as traders adjusted positions before the weekly debt auction. The yield on the benchmark 10-year note edged up to 6.4718%. Market participants are awaiting the details of India s second-half borrowing plan and closely monitoring the August inflation data, projected at 2.1%.

Dev Accelerator’s Rs 143 crore IPO has been oversubscribed 22.36 times on its final day, with strong demand from retail investors (77.60x) and NIIs (26.45x). Shares are trading at a 13% grey market premium, suggesting a potential listing near Rs 70, though GMP may fluctuate with market sentiment.

The ECB kept rates at 2%, signaling caution. Markets cut rate-cut bets, boosting the euro. Inflation projections send mixed signals, leaving uncertainty on future policy despite balanced risks outlined by Lagarde.