Market Bizzz

Susan Electricals IPO: The ₹70.38-crore IPO of Susan Electricals India opens for subscription on June 11 and closes on June 15. The issue comprises a fresh issue of 47.42 lakh shares worth ₹60.22 crore and an OFS of 8 lakh shares worth ₹10.16 crore.

Persistent Systems shares are rising, buoyed by optimism in the technology sector and advancements in artificial intelligence. The company remains confident in its long-term growth strategy. Nevertheless, analysts have recalibrated earnings forecasts downwards, anticipating a slowdown in revenue growth as clients increasingly incorporate AI technologies.

South Korean technology stocks rebounded sharply on Tuesday as investors returned to AI-linked shares after a steep three-day selloff that had pushed the KOSPI down more than 15%. Semiconductor stocks led the recovery, with SK Hynix jumping 8%, Samsung Electronics rising 4%.

Oil prices eased in early Tuesday trading after Iran and Israel indicated a pause in hostilities, reducing immediate concerns over supply disruptions. However, both countries kept the door open for renewed military action despite agreeing to halt attacks following an appeal from U.S. President Donald Trump.

South Korea’s KOSPI index saw a sharp decline on Monday. Investors sold off artificial intelligence stocks, revealing the market’s heavy reliance on semiconductor giants. Samsung and SK Hynix shares fell significantly. This selloff followed a strong rally driven by AI demand. Geopolitical tensions also contributed to the market’s downturn. The KOSPI experienced its second trading halt this year.