Gold on track for best month in four as inflation data bolsters rate cut bets
Gold prices surged by approximately 1% on Friday, marking their strongest monthly performance since April. This increase was fueled by U.S. inflation data, reinforcing expectations of a potential Federal Reserve interest rate cut next month. Spot gold reached $3,443.19 per ounce, while silver and platinum also saw gains.
India-focused funds continue to see redemptions for fifth consecutive week: Elara Capital
India-focused funds saw $78 million outflows in the fifth straight week, though redemptions eased from prior weeks, Elara Capital reported. ETFs drove all withdrawals, while long-only funds posted their first inflow in seven weeks, led by HSBC Global Investment Funds and Ashoka WhiteOak ESG Funds.
Rupee bleeds red to a new low on greenback demand, slumps against Chinese yuan too
The Indian rupee hit a record low of 88.31 per dollar before closing at 88.19, pressured by U.S. tariff concerns, weak equity inflows, and strong dollar demand. RBI intervention likely prevented deeper losses, but sentiment remains fragile.
S&P 500 ends lower as Dell and Nvidia drop
The S&P 500 retreated from record highs on Friday, dragged down by losses in AI-related stocks like Dell and Nvidia, as investors analyzed inflation data reflecting the impact of tariffs. Alibaba’s U.S. shares surged following a strong cloud computing report.
European shares post first weekly loss in four as banks weigh
European shares declined, hitting a two-week low, pressured by British banks amid proposed tax changes. Natwest, Barclays, and Lloyds experienced significant drops. The STOXX 600 fell, marking its first weekly loss in four, influenced by U.S. Federal Reserve concerns and French political uncertainty. U.S. inflation data and Trump’s attempts to influence the Fed also weighed […]
BSE and NSE’s combined average daily turnover in cash market slides 32% YoY in July
India’s equity markets corrected in July with combined BSE and NSE cash market turnover falling 32% year-on-year. Weak Q1 earnings, Trump tariffs, and foreign capital flight weighed, even as Sebi emphasized deepening cash markets and balancing F&O activity.
J.P. Morgan analysts look past Nvidia’s tepid outlook, lift target price
J.P. Morgan reaffirmed its bullish stance on Nvidia, raising its target price to $215 despite softer guidance. Nvidia posted record Q2 revenue of $46.7 billion and net income of $26.4 billion, driven by AI and networking demand. Risks persist, but analysts see strong multi-year growth potential in AI infrastructure.
LIC pays Rs 7,324 cr to Finance Minister as dividend for FY25
Life Insurance Corporation of India (LIC) on Friday said it has paid a dividend cheque of Rs 7,324.34 crore to Finance Minister Nirmala Sitharaman for the 2024-25 financial year.
Reliance Jio IPO announced: 5 things investors need to watch out for
Mukesh Ambani announced Reliance Jio’s IPO is expected in the first half of 2026, potentially India’s largest ever. The IPO aims to fuel Jio’s expansion into home internet, AI, and other digital services. Jio’s strong financial growth, including a 25% profit increase and rising ARPU, positions it favorably for investors.
Oyo secures board nod to file for IPO with stronger financial outlook: Sources
Oyo has received board approval to pursue a fresh IPO filing, highlighting improved Q1 results and FY25 EBITDA of ₹1,100 crore. Bankers project a $7–8 billion valuation, supported by growth in India, US, and emerging markets.