Gold hits record high amid expected global rate declines. Taiwan’s TSMC dips following Trump’s remarks on U.S. support. The S&P 500 achieves record highs. Trump’s running mate suggests China-focused policy. China’s stocks remain subdued, Taiwan dollar weakens. Powell observes cooling inflation. Bonds rally. New Zealand shares rise. Oil prices dip; British inflation data awaited.
Dollar, US futures rise as ‘Trump trade’ stings other assets
Global markets react anxiously to the potential impact of a Trump victory, with stocks dipping and currencies fluctuating. Speculation on future rate cuts and trade tensions add to the volatile atmosphere. Gold prices surge near record highs while oil prices slide. Will the world economy weather the storm?
Positive Breakout: These 4 stocks close cross above their 200 DMAs
The 200-day DMA is used as a key indicator by traders for determining the overall trend in a particular stock.
Why are IT, private banks not bouncing back properly? Hemant Shah answers
Hemant Shah of Seven Islands explained IT sector recovery due to TCS results, facing resistance. HDFC Bank gains lack consistency. FMCG growth anticipated with monsoon boost. PV market deals with inventory, CV stabilizing. US crucial for IT outlook. Auto sector driven by exports, discounts. Consumption stocks outlook positive, demand drivers critical.
Spot ether ETFs likely to begin trading July 23, industry sources say
The U.S. SEC approved ether ETFs by BlackRock, VanEck, and Franklin Templeton starting July 22. Ether’s price increased to $3,433.07. SEC Chair Gary Gensler cited similarities to bitcoin ETF approval. Analysts predict $1 billion monthly inflows; Galaxy Research forecasts more volatility due to ether’s $359 billion market value. Initial low hopes transformed with $33.1 billion in net inflows.
Positive Breakout: These 4 stocks close cross above their 200 DMA
The 200-day DMA is used as a key indicator by traders for determining the overall trend in a particular stock.
Q1 results today: Jio Financial, SpiceJet, HDFC Life among 36 companies announce earnings on Monday
HDFC Life, Jio Financial, HDFC AMC, Angel One, SpiceJet, and 36 other companies including Hatsun Agro, KBC Global, Kelton Tech, Modern Engineering, Monarch Networth Capital, Oasis Securities, Rajoo Engineers, Sheetal Cool Products, Tahmar Enterprises, Styrenix Performance will announce Q1FY25 earnings. Important aspects to watch include HDFC Life’s APE and VNB estimates.
Foreign banks are snapping up short-term Indian bonds, Bank of America says
Foreign banks bought 600 billion rupees in Indian bonds, focusing on shorter maturities due to improved liquidity and limited treasury bills supply. Bank of America’s Vikas Jain noted influences like JP Morgan’s index inclusion. Key factors include 6.95% yields, fiscal deficit, lower overnight rates, and the Reserve Bank of India possibly reducing the repurchase rate to 5.5% by March 2026.
Softbank exits Paytm at loss of around $150 million
Softbank held around 18.5 per cent stake in Paytm before the company’s initial public offering (IPO) in 2021. It held a 17.3 per cent stake through SVF India Holdings (Cayman) Ltd and 1.2 per cent through SVF Panther (Cayman) Ltd.
FII buying in June crosses Rs 15,000 crore. Will IT results attract more inflow?
While domestic investors, led by mutual funds, have been sustained buyers in all months of calendar year 2024 so far, FIIs have alternated between buying and selling.