Cost of free alerts: RBI’s SMS order may dent banks’ income by Rs 300 crore
Banks have also been given the flexibility of dropping mandatory alerts for lowvalue transactions. However, top-draw private banks, such as HDFC Bank or ICICI Bank, are unlikely to reduce SMS alerts for such transactions to ensure their reputation for technology adoption and customer experience isn’t compromised.
Rupee rallies 50 paise as cheaper crude lifts sentiment
The Indian rupee saw its best day in nearly a month, gaining against the dollar. This rise followed reports of Saudi Arabia reducing crude oil prices for Asian buyers. Geopolitical tensions eased, and shipments fully resumed through the Hormuz Strait. Foreign portfolio investor inflows into Indian equities also helped stabilize the currency. The rupee reversed […]
US stocks today: S&P 500 ends down as AI worries hit chipmakers
U.S. markets closed lower as chip stocks declined on concerns the AI-driven rally may be overstretched. Losses in Micron and other semiconductor firms weighed on indices, while rising competition from China and unmet expectations after Samsung’s earnings added pressure. Investors are reassessing valuations amid continued volatility in AI-linked stocks.
RBI to conduct Rs 25,000-cr overnight variable rate repo auction on Jul 8
The Reserve Bank of India is set to hold an overnight variable rate repo auction on July 8, offering Rs 25,000 crore. This auction aims to address current liquidity dynamics, and the funds will revert on July 9. Following less engagement in a prior auction due to excessive liquidity, this move seeks to adjust the […]
PepsiCo and more: Jim Cramer says market rotation is creating buying chances, picks 4 stocks
Jim Cramer said the latest market rotation has created attractive buying opportunities as institutional selling dragged down quality stocks. He highlighted PepsiCo, Starbucks, Constellation Brands, TJX Companies and Johnson & Johnson as potential picks despite recent market weakness.
NCDEX revives black pepper futures to boost India’s price discovery
NCDEX has relaunched black pepper futures after more than a decade, aiming to restore India’s role in global price discovery. The contract offers farmers, traders and exporters a regulated platform for hedging, transparent pricing and better risk management amid volatile commodity markets.
Kalyan Jewellers posts strong Q1 growth on robust demand
Kalyan Jewellers reported strong first-quarter revenue growth, supported by resilient domestic demand, healthy international performance and rapid expansion of recycled gold usage. The company also added new stores and said it entered the current quarter with positive momentum ahead of festive demand.
Micron, Intel shares crash up to 8% as Samsung fails to calm concerns over AI
Global semiconductor stocks fell sharply as Micron and Intel dropped up to 8%, tracking weakness in Asian peers despite strong Samsung earnings. Investors are reassessing valuations after a strong AI-led rally, while concerns over custom chip development and future demand are making markets more selective towards AI-linked semiconductor companies.
New Nasdaq 100 ETF to launch soon, BlackRock fund to give investors exposure to AI-driven tech rally
BlackRock is launching the iShares Nasdaq 100 ETF to capitalize on strong demand for AI-driven technology stocks. The fund will compete with established Nasdaq-100 offerings from Invesco and State Street, expanding BlackRock’s lineup of index-based investment products.
Planning investments in midcap mutual funds? Check these 5 funds with over 20% gain in 3 years
Five midcap mutual funds delivered over 20% annualised returns in the past three years, led by HSBC Midcap Fund at 26.3%, highlighting strong wealth creation despite market volatility.