DEMAND NOTE
Oil settles 1% lower as Mideast ceasefire talks ease supply disruption concerns
The head of Israel's Mossad has returned from Doha after an initial meeting with mediators trying to reach a Gaza ceasefire and hostage release deal, and negotiations will resume next week, Prime Minister Benjamin Netanyahu's office said on Friday.
TCS, HCL earnings recovery may get further push from AI demand
Indian IT companies like TCS and HCL are set to report on their earnings, showing signs of recovery amidst cautious spending by US and European companies. Retail giants Fast Retailing and Ryohin Keikaku are expected to see growth in operating profits. Keep an eye on LG Energy Solution's earnings amid lower demand for electric vehicles.
Stable economy boosts India's housing market to new heights, scales 11-year peak
The housing property market across India is seeing 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.
Oil prices on track for fourth straight week of gains
Oil prices stabilized in Asian trade, set for a fourth week of gains amid strong U.S. summer demand and supply concerns. Brent and WTI prices rose. Russia's Rosneft and Lukoil to cut July exports. Saudi Aramco lowered Asian prices. Sentiment boosted by geopolitical tensions, a 12.2 million barrels draw, potential Fed rate cuts, and the Gaza conflict.
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.
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.
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.
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.
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.
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.
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.
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.
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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