Markets closed on a high note Wednesday, with the Nifty reclaiming the 26,000 mark and midcaps hitting a one-year peak, led by gains in metals, financials, and Adani Group stocks. Meanwhile, SEBI’s proposal to cut mutual fund fees sent asset management firms lower, even as investors welcomed the move as a win for transparency.

Globally, all eyes are on the high-stakes Trump-Xi talks in Busan ahead of the tariff truce deadline, with Trump reaffirming plans for a trade deal with India. The outcome of the US Federal Reserve’s policy meeting, where a rate cut is widely expected, is also being closely watched by global investors.

Back home, L&T’s Q2 results missed Street estimates despite strong order inflows, while Vedanta’s demerger hit another delay after the reconstitution of the NCLT ben

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