DEMAND NOTE
Rupee nudges up on lower US bond yields, forward premiums rise
Pressure on the yen and yuan had kept Asian currencies on the defensive over recent trading sessions but soft U.S. economic data on Wednesday helped ease the depreciation pressure.
Stable economy boosts India's housing market to new heights, scales 11-year peak
The housing property market across India is witnessing substantial growth in sales volumes, driven by stable economic conditions and continued confidence, even amidst higher mortgage rates. This uptrend is led by the top eight cities, including Mumbai, Delhi-NCR, Bengaluru, Pune, and Hyderabad, propelling the country’s residential real estate market to an 11-year high in sales volumes during the first half of the year.
Gold gains on softer dollar ahead of US Fed minutes
Gold prices strengthened on Wednesday as the dollar eased after dovish comments from Federal Reserve Chair Jerome Powell, with investors now turning to minutes from the U.S. central bank's latest policy meeting to gauge future interest rate cuts.
Mid-sized cities to emerge as big demand centre for EVs: Report
Lucknow, Thiruvananthapuram, and Gurugram shine in electric car sales growth. Tier 2 cities emerge as pivotal for electric two-wheeler market. Financial support crucial for tier 3 cities' EV growth. Bengaluru and Jaipur lead in EV adoption. Wealthier cities drive electric vehicle growth, while private uptake fuels tier 2 cities' demand.
Oil holds near two-month high on higher demand outlook, possible rate cut
Exciting developments in the oil market as prices hold steady near recent highs, driven by robust demand projections and the possibility of U.S. interest rate cuts. The looming threat of Hurricane Beryl and reduced crude imports into Asia, especially China, add further intrigue to the market landscape.
Strong ER&D demand helps IT buck overall soft hiring trend
India's $250 billion IT services industry is facing sluggish hiring, but a bright spot is emerging in Engineering, Research & Development (ER&D). Demand for ER&D services is surging, driving a 15% increase in recruitment for these roles. Staffing firms report that tech companies are ramping up ER&D hiring to stay competitive in the global market.
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Oil inches higher on summer demand outlook
Oil prices rose on supply deficit forecasts and OPEC+ cuts amid global economic challenges. Traders are cautious about rising non-OPEC+ output. Monitoring includes China's oil demand, the Atlantic hurricane season, and the impact of Hurricane Beryl.
Spectrum auction: DoT to issue demand note to Airtel, Vodafone Idea and Jio this week for payment
Telcos receive a demand note for spectrum payment this week after the two-day auction. Airtel led the bidding, with Reliance Jio and Vodafone Idea also participating. The note outlines upfront or instalment payment options, due within ten days.
Nike sinks over 18% as gloomy sales forecast fans growth concerns
Nike shares slumped 18.6% in early trade on Friday as a forecast for a surprise drop in annual sales amplified investor concerns about the pace of the sportswear giant's efforts to stem market share losses to upstart brands such as On and Hoka.
India gold buyers postpone their purchasing plans, keenly waiting to see if Modi government cuts import duty in Union Budget
BUDGET NEWS: Indian gold demand remains subdued due to high prices, with expectations of an import duty cut in the upcoming budget. Meanwhile, Chinese demand also declined. Domestic gold prices hovered near Rs 71,600 per 10 grams, down from a peak of Rs 74,442 last month. Dealers offered discounts up to $9 per ounce on official prices, including taxes. The market anticipates increased activity closer to the festival season in Q3
Delhi's peak power demand grew 3.8x on hot and humid days in last 12 months: Report
Delhi's peak electricity demand surged due to temperature variations, with peak demand increasing by 711 MW on hot and humid days, 506 MW on cold days, and 188 MW on moderate days. The analysis by IEEFA highlighted the necessity of enhancing utility-scale solar power to meet rising demands and mitigate the impact of heatwaves.
Higher demand from US, Turkey, UAE, Saudi Arabia drive engineering exports in May: EEPC India
Inclusion of steel in the RoDTEP scheme may provide greater incentive for steel exporters in India, said EEPC India Chairman.
NHRC notice to UP DGP over brothers' suicide
The NHRC has taken suo motu cognisance of a media report carried on June 25 that "two brothers of Agra committed suicide within three days due to alleged harassment by police personnel of Sadabad police station in Hathras", the human rights panel said in a statement.
Rupee ends higher, lifted by bond inflows; oil firms' dollar bids cap gains
The Indian rupee closed higher at record levels despite dollar demand, reflecting resilience amidst regional pressures. Anticipation of dollar inflows related to JPMorgan's index inclusion boosted the currency.
Experts take note of a clear shift in India's fitness & nutrition trends
The growing demand for nutritional guidance and fitness coaching is driven by increased awareness of lifestyle disorders and dietary habits. Social media has amplified this consciousness.
Fed's Daly: inflation not the only risk, policy must 'exhibit care'
San Francisco Fed President Daly emphasizes caution in addressing inflation control and rising unemployment risks, highlighting the need to restore price stability without harming the economy.
Gold gains on dollar retreat, focus on US inflation data
Gold prices rose on Monday, helped by a pullback in the dollar, while investors looked forward to U.S. inflation data due later this week that could offer more clarity on the Federal Reserve's monetary policy.
Oil prices inch down on weaker US consumer demand ahead of China data
Oil prices slipped on weaker U.S. consumer demand. China's economic data indicated deflation, impacting markets in Singapore and other countries.
Oil prices on track for weekly gain on solid demand outlook
Oil prices fell on Friday, with Brent crude futures down 0.87% to $82.04 a barrel and West Texas Intermediate losing 1% to $77.84. OPEC+ decision to unwind output cuts after September also impacted the market.
World will amass 'major' oil surplus by 2030, says IEA
Global demand is expected to "level off" at 106 million barrels per day (bpd) toward the end of this decade while overall supply capacity could reach 114 million bpd, the IEA said in an annual report. This would result in a "staggering" surplus of eight million bpd that oil markets should prepare for, the Paris-based agency said.
Oil prices edge up on optimistic demand outlook
Oil prices rose on positive demand outlooks from EIA and OPEC, with Brent crude up 0.1% to $82.04 and WTI crude up 0.2% to $78.10.
Oil prices extend rally on potential U.S. crude purchase for reserve
Oil prices rose on hopes of higher seasonal fuel demand and potential U.S. crude purchases for its petroleum reserve, supported by expectations of rising fuel demand this summer. Market focus is on the Fed's policy meeting and upcoming reports from OPEC and the International Energy Agency. Analysts expect Brent to rise to $86 a barrel in the third quarter.
Expecting one of the best years due to strong consumer spending: Nilesh Gupta, Vijay Sales
So, any consumer who walked in a Vijay Sales store did not have to go back without an air conditioning saying the stock is not there. Secondly, on the refrigerator front also, after a long time we have seen a growth in refrigerator.
Global demand revival: How is India poised?
As the global demand sees some revival, India must get its act together to make the most out of it.
Oil prices climb as OPEC+ reassures markets, ECB cuts interest rate
Oil prices rose as OPEC+ members Saudi Arabia and Russia hinted at output adjustments. Brent crude futures reached $80.03 per barrel, and U.S. West Texas Intermediate crude futures hit $75.71. Europe's interest rate cut raised expectations of a similar move in the U.S. Analysts await Chinese commodity trade data for insights into global oil demand.
Karnataka’s tribal welfare minister quits after govt funds find way to bank accounts in Hyderabad
Karnataka's Tribal Welfare Minister B Nagendra resigned over a scandal involving the illegal transfer of Rs 89.63 crore of government funds to unknown individuals in Hyderabad. The BJP intensified its campaign for his resignation, alleging a major scam under Chief Minister Siddaramaiah's watch. The ruling Congress withdrew support as an investigation team was formed to probe the matter. The CBI has taken up the case, and the BJP demanded the CM's resignation, alleging his knowledge of the illegal funds transfer.
India's services sector softens to five-month low in May: PMI report
India's services growth slowed to a five-month low in May due to weaker domestic demand, despite record export growth and a 21-month high in job creation. The services PMI fell to 60.2 from 60.8 in April. Input costs rose, intensifying price pressures and possibly delaying interest rate cuts by the RBI.
Powering ahead: How India made big electricity blackouts a thing of the past
The present situation is a far cry from July 30 and 31, 2012, when India experienced the world's largest blackout. During that crisis, the northern and eastern grids collapsed due to overload, leaving 620 million people without power for more than 13 hours. Since then, significant improvements have transformed India’s transmission network into the world's largest unified grid.
Yield curve inversion narrows, 10-year yields hit four-week high
Yields jumped on Tuesday after consumer confidence unexpectedly improved in May and the Treasury Department saw soft demand for auctions of two-year and five-year notes.
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