This satellite-communication equipment maker just received an order worth 80% of its annual revenue

A global bond-market jolt, a Rs 797 crore order for Skipper, an order worth 80% of a year's revenue at Avantel, & NSE's listing day. Informational only, not investment advice.

Snapshot · Commodities, Rates & Macro

The Big Picture: a 19-year high in US yields resets the morning

• What happened overnight. The US 10-year Treasury yield surged about 14 basis points to 5.10%, its highest level since July 2007 & the biggest one-day jump since the 2025 tariff shock. Two things drove it: S&P Global's flash US PMIs showed business activity at a five-year high with supply-chain backlogs giving companies pricing power, & Fed Governor Michael Barr said further policy adjustments are likely to be needed. Futures markets now price a 66% chance of an October rate hike, up from 55% a day earlier.
• Why equities care. A higher risk-free rate mechanically compresses what investors will pay for future earnings, & growth stocks feel it most: the Nasdaq fell 1.13%, more than the Dow's 0.68%. India inherits the repricing this morning: GIFT Nifty traded ~180 points lower & the Nifty opened near 23,221, down about 1%, with banks & financial shares leading the fall. Rate-sensitive lenders, especially NBFCs that borrow wholesale, are the pressure point.
• The oil complication. Brent jumped 4% Wednesday to above $102 after reports that Washington may curb US diesel exports (details in Commodities). Costlier oil plus hawkish central banks is the uncomfortable combination: it pushes inflation up while tightening is already underway.
• Today's home fixtures. NSE lists on BSE at 10 AM. SEBI's board meets today with the PMS overhaul & accredited-investor agenda. & in geopolitics, Trump & Xi hold their first meeting in 11 years on the UNGA sidelines.