International oil prices rose by about $1 on the day as U.S.-Iran peace talks stalled and U.S. fuel markets tightened. Brent crude gained around 14% over the month, marking its biggest monthly rise since July. In equities, Wall Street finished mixed, with the Dow down 0.86%, the S&P 500 down 0.25% and the Nasdaq up 0.24%. MSCI’s global stock index edged lower, slipping 0.16%.

India’s domestic funds are using growing bargaining power to press for lower IPO valuations, with the median price-to-book ratio for offerings raising at least 10 billion rupees falling to 7.4 times in 2026 from 10.2 times a year earlier. Loss-making issuers have also become rarer in that group, and domestic institutions’ share of IPO proceeds has risen to 33% from 24% in 2021. The shift has forced marquee listings, including National Stock Exchange of India’s planned IPO, to cut deal size by about 15%, according to market data.

India’s hike in gold and silver import duties to 15%, along with a 3% goods and services tax for retail buyers, is prompting more consumers to buy bullion and jewellery in cash without receipts to cut costs by as much as 6%. Traders and jewellers can avoid taxes and share part of the savings with customers, helping expand the grey market. Gold prices have eased from an earlier record but remain almost 28% higher than a year ago. Gold, India’s second-largest import after oil, continues to strain the trade deficit.

Steel Authority of India Ltd’s board has approved raising up to ₹10,000 crore via an unsecured rupee term loan or line of credit from State Bank of India. Separately, Augment India Holdings LLC is reportedly exploring a block deal to sell 85 lakh shares, or a 7.25% stake, in Clean Max Enviro Energy Solutions. The transaction is estimated at ₹1,062.8 crore with a floor price of ₹1,250 per share. Reports say the offer could be priced at a discount of up to 10% to the prevailing market price.

Ghana, the world’s second-largest cocoa producer, raised its 2026-27 farmgate price by 2.4% to 42,400 cedis a ton to ensure farmers earn at least 70% of the free-on-board export value. Neighboring Ivory Coast kept its price unchanged earlier this month at $2,084 a ton. Cocoa futures are trading at around $5,600 per ton, nearly double the level when Ivory Coast set its price, underscoring continued supply tightness in West Africa.

Microsoft shares rose 4% to $517.48 after the company rolled out a major overhaul of its Copilot workplace assistant. The update adds new features including Home, Code and Autopilot, aiming to strengthen AI capabilities amid competition. Microsoft is also focusing on enterprise customers to help optimize management of AI spending.

Whirlpool of India said it is not involved in any promoter stake-sale plan, while also stating that Whirlpool Mauritius is seeking multiple buyers for its remaining holding. The clarification was followed by a single-day share price gain of more than 12%. Over the past three days, the stock has risen 33%.

The Russia-Ukraine war has disrupted Black Sea wheat exports, forcing major buyers including Egypt, Indonesia and Vietnam to seek alternative supplies from Australia, Argentina and France. Russia and Ukraine together account for more than a quarter of global wheat trade, and their September export volumes are expected to drop sharply from a year earlier. Tighter supply has lifted Chicago wheat futures to a three-and-a-half-year high, with prices from alternative origins also rising. The shift is adding to global food inflation risks.

GE Vernova T&D India’s Barmer HVDC project has sharply increased its order backlog to nearly five times the revenue expected by FY26, but management expects limited near-term conversion. The company said the project will take about 4.5 years, with only 10–15% of the work completed in the first two years. As of Q1FY27, backlog stood at ₹20,930 crore and quarterly revenue rose 38% year-on-year to ₹1,840 crore. PL Capital projects FY27 revenue of ₹8,239 crore, while management guides FY27 EBITDA margins at around 25%, below FY26’s 27.1%, and does not expect another large export order over the next six months.