10.12pm The Securities and Exchange Board of India will review the securities lending and borrowing framework at its upcoming board meet on Monday. Other items on the agenda for discussion include introduction of weekly futures, review of the block deal window, and review of the call auction framework.

The securities lending and borrowing (SLB) mechanism — which allows investors with a bearish view to borrow stocks and short sell them — was first introduced in late 2007. However, it has not picked up in a big way, despite the regulator repeatedly tweaking the rules.

9.40pm Russian President Vladimir Putin said on Thursday after talks with Japanese Prime Minister Shinzo Abe that the two leaders “decisively condemned” North Korean weapons tests.

“We decisively condemned North Korea’s launch of a medium-range ballistic missile that flew over Japan’s territory on August 28, as well as the new nuclear tests conducted on September 3,” Putin said in a statement.

8.50pm Indian banks urgently need a powerful plan like a “Sudarshan Chakra” to restore the health of public sector banks within months if not weeks, Reserve Bank of India Deputy Governor Viral Acharya said on Thursday.

Speaking at the 8th RK Talwar Memorial Lecture, Acharya said there were several options being worked out by the government and the RBI such as the Indradhanush plan of 2015 for capitalisation of public sector banks, the government’s divestment programme, Insolvency and Bankruptcy Code, RBI’s structural resolution mechanisms and the recent Alternative Mechanism approved by the Cabinet.

Acharya was worried, howerver about the pace at which these plans were being implemented and said there was a pressing need to implement many of the options and work them out together at a hurried pace.

8.20pm The euro saw a volatile afternoon of trade on Thursday as currency traders reacted to comments from Mario Draghi, the president of the European Central Bank (ECB).

The single currency was trading at 1.1970 against the US dollar before the economist started his speech at a press conference at 1:30 p.m. London time, but jumped higher to over 1.204 shortly afterwards.

7.50pm Black money worth Rs 4,900 crore was disclosed by 21,000 people under the Pradhan Mantri Garib Kalyan Yojna (PMGKY), the stash money declaration window announced by the government post demonetisation, an official said on Thursday.

The Income Tax Department, a top government official told PTI, has collected a tax of Rs 2,451 crore till now from these declarations.

7.18 pm SEBI imposes Rs 2,423 crore penalty on PACL and four directors for illegal mobilisation of funds from public.

While the group, which had collected money in the name of real estate projects among other schemes, was asked by Sebi nearly three years ago to refund Rs 49,100 crore to the investors, the regulator has passed a fresh order to impose a monetary penalty for violation of Sebi's Prevention of Fraudulent and Unfair Trade Practices Regulations, reports PTI.

7.13 pm A day after Army chief Gen Bipin Rawat said that Beijing was employing 'salami slicing' and silently taking over Indian territory, China on Thursday said that the Army chief's remarks are contradictory to views expressed by Prime Minister Narendra Modi and Chinese president Xi Jinping in BRICS meeting earlier this week.

According to PTI, Chinese Foreign Ministry spokesman Geng Shuang told a briefing that: "We have noted the statement by relevant people in India, also we noticed some Indian press remarked that the reports are shocking."

7.06 pm According to Rajan, India is grappling with three main issues - the problem of twin balance sheet, lacking education system and slowing power sector.

7.04 pm While demonetisation did slow down the growth, Rajan believes GST, another major reform by the government, will be positive for the country in long-run. Best sign of growth is when the private capex returns.

6.24 pm Journalist Pankaj Mishra, associated with Hindi newspaper Rashtriya Sahara, was shot at today at Bihar's Arwal district by two bike-borne men. One arrest has been made in connection with the case. This comes just two days after murder of senior journalist Gauri Lankesh in Bengaluru.

6.18 pm On his departure, Rajan said: “I left because there was no offer on the table.”

“I didn’t resign or get fired,” he said adding that he left because his term ended. Rajan said that he was in dialogue with the government, but felt no consensus was possible.

6.11 pm On the government’s demonetisation drive, Rajan said that civil servants cannot just oppose a government policy.

6.09 pm Raghuram Rajan, former Reserve Bank of India governor, in an exclusive conversation with CNBC-TV18's Latha Venkatesh said that demonetisation has slowed India's growth.

6.03 pm SBI Life Insurance gets SEBI approval for Rs 8,400-crore IPO, which is likely to be launched near September 20-22 period. However, the launch period is subject to approval from the Registrar of Companies, a Reuters report said.

5.33 pm Interest rate on marginal lending facility was unchanged at 0.25% and the interest rate on deposit facility was also left unchanged at -0.40%.

ECB expects key interest rates to remain at current level for extended period. Quantitative easing (QE) to run at €60 billion per month until December 2017.

5.28 pm The European Central Bank leaves benchmark refinancing rate unchanged at 0%.

4.59 pm The National Company Law Appellate Tribunal today refused to pass any interim order on estranged partner Vikram Bakshi's plea against termination of franchise licence agreement by US-based fast food chain McDonald's.

Bakshi's petition will now be taken up on September 21 alongwith another petition filed by McDonald's.

4.30pm Wondering what moved the markets today? Watch Moneycontrol's video review of today's trading session.

3:15pm India's sugar production is estimated to rise 24 percent to 25.1 million tonne in the next marketing year starting October on higher sugarcane area, ISMA said. The country’s sugar production, the world's second largest producer after Brazil, is estimated at 20.2 million tonne in the ongoing 2016-17 marketing year (October-September). Production is expected to rise in 2017-18 on the back of higher cane area and plentiful rains, a spokesperson for the industry body said.

2:59pm North Korea has pledged to take “powerful counter measures” to respond to US pressure or any new sanctions against it over its missile programme, accusing Washington of wanting war, reports Reuters. Pyongyang’s pledge, made in a statement by its delegation to an economic forum in Russia’s Far East, came after the United States said it wanted the UN Security Council to impose an oil embargo on North Korea, ban the country’s exports of textiles and the hiring of North Korean labourers abroad, and subject leader Kim Jong Un to an asset freeze and travel ban, according to a draft resolution seen by Reuters on Wednesday. “We will respond to the barbaric plotting around sanctions and pressure by the United States with powerful counter measures of our own,” the statement read.

2:44pm Newly-appointed Defence Minister Nirmala Sitharaman told PTI her priority areas would be military preparedness, defence indigenisation, resolving long-pending issues and the welfare of soldiers. Sitharaman, 55, India's first full-time woman defence minister, took charge of the key ministry in the presence of her predecessor Arun Jaitley.

2:37pm Malaysia’s central bank, leaving its key interest rate unchanged as expected on Thursday, struck a more upbeat tone on the country’s and Asia’s economic performance this year. Bank Negara Malaysia (BNM) kept the overnight policy rate (OPR) MYINTR-ECI at 3 percent - where it has been since July 2016 - and gave no sign of a need to change the “accommodative” rate anytime soon.

2:18pm Russian President Vladimir Putin thought the North Korea crisis would not escalate into a large-scale conflict involving nuclear weapons, predicting that common sense would prevail, reports Reuters. But he said he believed North Korea’s leadership feared any freeze of its nuclear programme would be followed by what amounted to “an invitation to the cemetery”.

1:42pm Cadila Healthcare shares rose about 5 percent after its Moraiya plant received zero observations from the US health regulator. CNBC-TV18 reports that the US Food and Drug Administration has issued zero observations for Moraiya unit (Gujarat) after its re-inspection. The USFDA had re-inspected this facility in 2017.

1.13pm News18 is quoting OP Chatwal, a CBI official who led the team that was involved in Salem's extradition, as saying that the death sentence could not have been awarded to the underworld kingpin as it would have been a violation of the extradition agreement between India and Portugal.

Portugal, where Salem was hiding before he was extradited to India, does not have the death sentence. And so, the maximum punishment that can be awarded to him is 25 years -- the maximum allowed in that country.

1.10pm Riyaz Siddiqui gets a 10-year sentence. Prosecutors were seeking a life time for him.

1.08pm Tahir Merchant sent the executioners of the blast for weapons training to Pakistan. Firoz Khan managed the landing of arms from Pakistan and managed the customs and police.

1.03pm The court has also convicted Firoz Khan to death.

12.58pm Among other convicts, Tahir Merchant has been awarded the death sentence while Riyaz Siddiqui has been sentenced to 10 years, reports the ANI.

12.53pm Salem transported arms and ammunition to Mumbai from Bharuch in Gujarat.

12.50pm Just in! Gangster Abu Salem has been sentenced to life in the 1993 blasts case.

12.45pm The verdict for the 1993 Mumbai serial blast is in. The court has announced life sentence for Karimullah Shaikh. The fate of four other accused, including underworld don Abu Salem, will be announced shortly.

12.42pm Bad news for the Railways continues. The Ranchi Rajdhani Express has got derailed near Delhi. This is the second derailment today -- and follows a string of derailments over the past one month that has caused the loss of several lives and the job of the railway minister.

Fortunately, no injuries have been reported so far.

12.40pm Meanwhile, Prime Minister Narendra Modi has wrapped up his Myanmar visit. "My Myanmar visit covered significant ground in giving a much needed impetus to India-Myanmar relations & deepening bilateral cooperation," the PM tweeted.

12:27pm Israeli warplanes targeted a Syrian military position in Hama province early on Thursday from Lebanese airspace, killing two people and causing material damage, the Syrian army general command told Reuters. The army statement said it took place near the town of Masyaf and warned against the “dangerous repercussions of this aggressive action to the security and stability of the region”.

12:23pm Dixon Technologies’ public issue has been fully subscribed on the second day. The Rs 600-crore IPO has been oversubscribed 1.18 times, as per data available on the National Stock Exchange. The issue received bids for 28.11 lakh equity shares against an issue size of 23.76 lakh shares, excluding anchor investors' portion that already received a positive response. On day one, the issue was subscribed 0.78 times as the reserved portion of qualified institutional investors saw subscription of 1.34 times and retail 0.78 times.

12:13pm South Korean commandos will work with the US Navy Seals who killed Osama bin Laden to create a special unit to assassinate Kim Jong-un in the event of war, reports The Times. The announcement coincides with a decision by the US to waive restrictions on the size and range of South Korean ballistic missiles, allowing it to develop its own independent capacity to drop bunker-busting bombs on the underground headquarters of the North Korean leadership in Pyongyang.

12:07pm Russian President Vladimir Putin feels whipping up military hysteria around the North Korean crisis was counterproductive, adding that Pyongyang would not end its nuclear and missile programmes because it views them as its only means for self-defence, reports Reuters. “It’s impossible to scare them,” Putin said at an economic forum in the far eastern Russian city of Vladivostok. He said that, as an incentive to freeze its weapons programmes, North Korea was being offered the prospect of an end to sanctions. But the economic benefits of that, in Pyongyang’s eyes, are outweighed by the security risks.

11:58am The Bank of Canada raised interest rates on Wednesday, surprising many, and left the door open to more rate hikes in 2017 even as it pledged to pay attention to how higher borrowing costs would hit Canada's indebted households.

11:54am Bollywood star Salman Khan launches a driving school in Dubai. The Belhasa Driving Centre is located in AL Quoz. The centre will be the company’s fifth branch and also the biggest one in West Asia. The facility will include in-house eye testing, a cafeteria, VIP training facilities in Range Rover and Mercedes vehicles, as well as a training department dedicated to women.

11:49am Japanese Prime Minister Shinzo Abe said the crisis around North Korea requires quick action, calling on world powers to press Pyongyang to abide by its UN obligations.

11:44am Reliance Nippon Life Asset Management's (RNAM) Chief Investment Officer-Equity Investments Sunil Singhania has resigned with effect from August 31. Manish Gunwani has replaced Singhania with effect from September 5. Gunwani joins RNAM from ICICI Prudential Mutual Fund, where he served as Deputy CIO Equity, and managed assets of over Rs 35,000 crore, including some of the largest flagship funds.

11:39am Foreign investors were big buyers of Japanese bonds last week, with geopolitical tensions and concerns over US fiscal policy boosting demand for such safe (if low-yielding) assets, reports Reuters. Weekly data from Japan’s finance ministry issued on Thursday showed foreign investors bought a net 1.3592 trillion yen (USD 12.46 billion) of medium- to long-dated Japanese bonds in the week through September 2. This net purchase was the third largest in records stretching back to 2005. In what seems to be a paradox for some, Japan has served as a safe-haven of sorts with the yen often gaining in times of global risk aversion.

11:30am South Korean President Moon Jae-in wants Russia to continue supporting sanctions against North Korea after Pyongyang conducted its largest nuclear test at the weekend.

11:26am A Knight Frank reveals that India’s residential market delivered 70% return over a five-year period till June. The Hong Kong market, which has been buzzing over a 12-month period, returned 65%. Knight Frank’s Global House Price Index showed Singapore posted a 5.6 percent decline and Japan also slipped, reports Bloomberg.

11:21am Mark Hart spent seven years and USD 240 million waiting for China’s currency to crash, reports Bloomberg. He lost sleep, clients damned near lost his sanity. And now he’s lost his conviction. Hart, who called for a more than 50 percent yuan devaluation last year, has turned bullish on China and its currency.

11:16am In an exclusive interview with CNBC-TV18, Baba Kalyani, CMD, Bharat Forge, said CV sales in Q1 were subdued but perked up in Q2. He sees India emerge as a major defence manufacturer in the future. On the acquisition front, he is looking at all opportunities including BEML. Formerly Bharat Earth Movers, this state-run undertaking manufactures a variety of heavy equipment, such as that used for earth moving, transport and mining.

10:45am ICICI Bank stock is up over 1 percent after CNBC-TV18 reported that the initial public offering (IPO) of its general insurance company will open for subscription in the coming week. ICICI Lombard General Insurance Company will launch its initial public offer of up to 8,62,47,187 equity shares on September 15.

The issue consists of offer for sale of up to 3,17,61,478 equity shares by promoter ICICI Bank, up to 5,44,85,709 shares by investor Fal Corporation. The issue also include a reservation of up to 43,12,359 equity shares for purchase by ICICI Bank shareholders. The issue will close on September 19.

9:53am Railway officials said the Shaktipunj Express derailment occurred around 6:25 am. All passengers were put on the remaining coaches and by 7:28 am all of them had left the spot. No passenger was injured in the accident. The train was running at a speed of about 40 km per hour which, officials say, prevented any injuries when the incident occurred.

This is the third such derailment in the state in less than a month. On August 19, the Utkal Express had derailed in Muzaffarnagar district, killing 22 people and injuring 156. About 100 passengers were wounded when 10 coaches of Kaifiyat Express train derailed after crashing into a dumper which strayed on to the tracks in Auraiya district on August 23.

9:44am New Delhi Television (NDTV), which projects itself as the champion of free speech and public causes, has decided to bar its shareholders from carrying cellphones, bags and other accessories during its annual general meeting scheduled for September 21 at Delhi. Moneylife reports that this probably is the first time that a listed company want to go to such extremes to prevent deliberations at the board meeting from being know to the outside world, including potential investors. If permitted to do so, this will be a bad precedent, which will be quickly adopted by most companies, especially those who have a lot to hide.

9:40am Times of India reports that the most active smartphone users in India spend more than 4 hours every day - the equivalent of half a standard workday - on mobile apps. India was among the top 5 markets in terms of total time spent on apps on Android phones in May. In terms of categories, shopping apps, travel, and games emerged as the top categories where people were spending most of their time.

9:36am There has been an about 12% rise in the number of sexual harassment complaints reported by the BSE's top 100 listed companies in 2016-17, reports Times of India. While some companies reported fewer cases, others like Wipro, ICICI Bank, Infosys and Tata Consultancy Services reported more than 50 cases during the year. Experts believe there is no reason to be alarmed by higher numbers as this only indicates better transparency and robustness of a company's internal mechanism to handle such cases.

9:30am German sportswear maker Adidas is looking to lay off around one-fourth of its staff in India in the coming months, reports TOI.

9:21am A special Terrorist and Disruptive Activity (TADA) Court would pronounce the quantum of sentence against all the convicts of the 1993 Mumbai Bomb Blasts Case on Thursday. The court had convicted six people, including the mastermind of the attack Mustafa Dossa and Abu Salem on June 16 this year. Arguments over the degree of sentences continued after the conviction in June and concluded on August 10.

9:14am Borrowings by Indian companies and banks from the overseas markets are tipped to hit new highs in 2017 with a record USD 12 billion already having been raised so far, reports Financial Express. Appetite for Indian paper remains strong, allowing borrowers to pick up money at very fine rates. Abundance of liquidity globally and the limited supply of paper from India are among the reasons for the record mop-up from overseas markets.

9:05am Which stock have caught the fancy of brokerages today? Click here to find out

9:01am The appellate court of the National Company Law Tribunal (NCLAT) will on Thursday decide the fate of the 169 McDonald’s stores and almost 6,500 jobs affected by McDonald’s India’s (MIPL) termination of licence agreement with Connaught Plaza Restaurants Ltd (CPRL).

8:51am Seven coaches of Howrah-Jabalpur-Shaktipunj Express derail near Sonbhadra in Uttar Pradesh, reports ANI. No injuries have been reported yet. This is the first derailment after Piyush Goyal was appointed as the new Railway Minister at Sunday’s Cabinet reshuffle.

8:44am The Rs 1,000 crore personal care products unit of Hindustan Uniliver at Doomdooma in Assam has begun commercial production on Wednesday.

8:44am Petronet LNG will build a liquefied natural gas (LNG) import terminal in Sri Lanka in collaboration with Japanese and Lankan companies. The Sri Lankan government issued a letter of intent to the Indian government in this regard on September 1.

8:44am HCL Technologies has announced a partnership that includes purchase of select assets with Alpha Insight, a products and solutions company headquartered in London, with expertise in business flow monitoring and operational intelligence. The IT firm said that the proposed asset purchase consideration shall be up to EUR 3.25 million, including payments subject to certain financial milestones.

8:44am Nestle, the maker of Maggi noodles and KitKat chocolate, is consolidating its product portfolio to focus on high-performing brands. The Swiss company, which launched more than 40 products over two years, is reviewing categories across chocolates, confectionery, coffee and the dairy segment.

8:41am A Business Standard report suggests that Nusli Wadia, Chairman of the Wadia Group of Companies, has urged the Securities Exchange Board of India (Sebi) to take action against three independent directors of the Tata group companies who he alleges made wrong declarations in annual reports.

8:36am The Delhi High Court reserved its decision on whether Daiichi Sankyo could enforce an award it won in a foreign tribunal to recover about Rs 3,500 crore from former Ranbaxy Laboratories promoters Malvinder and Shivinder Singh.

8:33am In bulk deals, Grantham Mayo Van Otterloo-Emerging Markets Quality Fund bought 1.1 crore shares or 0.89 percent stake in Himachal Futuristic at Rs 23.92 per share. GMO Emerging Domestic Opportunities Fund sold 12.62 lakh shares or 1.16 percent in Gateway Distriparks at Rs 219.67 apiece. The fund held 1.2 percent in Gateway Distriparks at the end of the June quarter.

8:21am Godrej Appliances, a division of Godrej and Boyce Mfg Co, is targeting 30% growth in sales this festive season as compared to the same period last year, reports Mint.

8:21am Eicher Motors, the maker of Royal Enfield motorbikes, is looking to bid for Italian bike-maker Ducati, reports The Economic Times.

8:21am JM Financial Asset Reconstruction Co has offered to buy out all outstanding loans to Gujarat NRE Coke, a company for which the Kolkata bench of the National Company Law Tribunal has already appointed a resolution professional, or administrator.

​8:21am ITC has slapped a Rs 1,000 crore defamation suit against proxy advisory firm Institutional Investors Advisory Services (IiAS) for allegedly making defamatory comments against the company’s directors in one of its reports.

8:21am Hurricane Harvey, which disrupted the global refining and chemical industry, impacting margins, will work in favour of Reliance Industries Ltd (RIL), reports Mint.

8:21am Equity mutual funds received a record Rs 20,000 crore in net investor flows in August, while the overall assets under management topped the Rs20 trillion mark, reports Business Standard.

8:11am Bharat Forge’s total North America Class 8 truck sales have risen 50 percent for August - its best performance since 2014.

8:08am The United States on Wednesday asked the UN Security Council to slap an oil embargo on North Korea and freeze the assets of leader Kim Jong-Un, in response to Pyongyang's sixth and most powerful nuclear test. A US-drafted resolution obtained by AFP also called for banning textile exports and ending payments made to North Korean labourers sent abroad, further depriving the regime of revenue to pursue its military programs. The US circulated the proposed resolution to the 14 other council members two days after Ambassador Nikki Haley called for the "strongest possible measures" to be imposed on North Korea. To track real time happenings in the Korean peninsula, click here

8:00am Six people were killed and 11 injured in a fire at an under-construction building in Mumbai on Wednesday night, police said. PTI reports the fire was caused by a gas cylinder explosion in the Prarthana building near the Kishore Kumar Garden in Juhu. The injured - 9 men and 2 women - have been admitted to the nearby Cooper Hospital of the BMC. Eight of them are said to be critical.

7:57am Protesters clashed with thousands of police at a South Korean village on Thursday as Seoul deployed the four remaining launchers of the US anti-missile THAAD system designed to protect against mounting threats from North Korea. The South’s defence ministry confirmed on Wednesday the launchers would be installed on a former golf course near Seongju City some 217 km south of Seoul. Two launchers and a powerful radar are already in place at the site as part of the US Terminal High Altitude Area Defence (THAAD) system.

7:54am British Prime Minister Theresa May called on parliament to support legislation to sever political, financial and legal ties with the European Union, a step towards Brexit the opposition says it will challenge.

7:44am Asian shares ticked up on Thursday after US President Donald Trump and congressional leaders agreed to raise the government debt limit until December, eliminating the risk of a government shutdown for now.

In commodity news, Gold was steady early Thursday, supported by a weaker dollar, after dipping slightly in the previous session on easing concerns of a potential US government shutdown. Oil prices rose more than 1 percent on Wednesday as strong global refining margins and the reopening of US Gulf Coast refineries provided a more bullish outlook after sharp drops due to Hurricane Harvey.

7:37am US Federal Reserve Vice Chair Stanley Fischer, a veteran central banker who helped set the course for modern monetary policy, said he will step down from his position in mid-October, potentially accelerating President Donald Trump’s opportunity to reshape the direction of the central bank.

7:36am Hurricane Katia churned almost 322 km off the Gulf Coast of Mexico on Wednesday evening before an expected turn towards land that could dump heavy rain on eastern states in the coming days, the US National Hurricane Center (NHC) said. Katia, a Category 1 hurricane, was 314 km east of the port of Tampico, blowing maximum sustained winds of 121 km per hour, the Miami-based NHC said.

7:33am Hurricane Irma, one of the most powerful Atlantic storms in a century, howled past Puerto Rico on Wednesday after thrashing several smaller Caribbean islands with roof-ripping winds, drenching rains and pounding surf on a collision course with Florida. At least four people were reported killed on four different islands by Irma, which weather forecasters have described as a “potentially catastrophic” Category 5 storm, the highest US classification for hurricanes.

7:31am US Treasury Secretary Steve Mnuchin has an executive order ready for President Donald Trump to sign that would impose sanctions on any country that trades with Pyongyang if the United Nations does not put additional sanctions on North Korea over nuclear tests. “I have an executive order prepared. It’s ready to go to the president. It will authorise me to stop doing trade, and put sanctions on anybody that does trade with North Korea. The president will consider that at the appropriate time once he gives the UN time to act.”

7:28am China’s air force has carried out exercises near the Korean peninsula, practising to defend against a “surprise attack” coming over the sea, reports Reuters. An anti-aircraft defence battalion carried out the exercises early on Tuesday, near the Bohai Sea, the innermost gulf of the Yellow Sea that separates China from the peninsula, an official military website www.81.cn reported.

7:25am US President Donald Trump promised he would get into great detail about his tax reform plan in the next two weeks. During a visit to North Dakota, he listed his broad principles for tax reform to include simplifying the US tax code and providing tax relief to middle-class Americans.

7:22am Reuters reports that the US Department of Commerce has begun an investigation into possible dumping and subsidisation of stainless steel flanges from China and India. In 2016, imports of stainless steel flanges India were valued at an estimated USD32.1 million. India is accused of alleged dumping margins of 78.49 percent to 145.25 percent.

7:15am European Central Bank President Mario Draghi is set to start laying the groundwork for stimulus reduction when policymakers meet on Thursday, giving investors some hints but probably holding off on any major commitment.

7:12am Bitcoin price on the rise again after falling USD 1,000 in three days. The two largest cryptocurrencies - Bitcoin and Ethereum - showed signs of a recovery on Wednesday after showing bearish signals after a Chinese crackdown on initial coin offerings.

7:09am Military action with North Korea is not US President Donald Trump's "first choice, but we'll see what happens," he said on Wednesday. President Xi Jinping told Trump that China is focused on solving the Korean Peninsula nuclear issue through talks and peaceful means.

7:03am Goldman Sachs Chief Executive Lloyd Blankfein told CNBC he doesn't see another tulip mania in the markets, but does see some cause for concern. "When yields on corporate bonds are lower than dividends on stocks, that unnerves me."

"The biggest problem, the anxiety that people have, is non-specific to what asset we are pointing to but the general feeling that things have been going up for too long," he said, adding that it didn't feel like a tulip mania, a reference to a 17th-century run on tulip bulbs in the Netherlands that has become a symbol of market excess.

6:53am President Donald Trump forged a surprising deal with Democrats in Congress on Wednesday to extend the US debt limit and provide government funding until December 15, embracing his political adversaries and blindsiding fellow Republicans in a rare bipartisan accord.

Trump met with congressional leaders from both parties and overruled Republicans and his own treasury secretary who wanted a longer-term debt-limit extension rather than the three-month Democratic proposal the president embraced.

If passed by the Republican-led Congress, the agreement would avert an unprecedented default on US government debt, keep the government funded at the outset of the fiscal year beginning October 1 and provide aid to victims of Hurricane Harvey.

Moneycontrol

Good Morningusers. This blog will keep track of key global and local developments impacting business and markets through the day.