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Asian shares experienced a surge following the announcement of a ceasefire between Iran and Israel, which eased investor concerns about potential energy supply disruptions. Oil prices declined as the perceived risk of conflict de-escalated, with both Brent and WTI crude futures dropping. The positive market sentiment was further bolstered by indications of a potential rate cut by the Federal Reserve.
US President Donald Trump has intensified his criticism of Fed Chairman Jerome Powell, labeling him 'incompetent' for not lowering interest rates. Despite economists' fears, inflation has remained subdued, even with Trump's tariffs.
Gold prices plummeted on MCX after a reported ceasefire announcement between Iran and Israel, with August futures dropping by approximately 3% to Rs 96,422/10 grams. Silver also declined, while both metals had previously gained due to Middle East tensions.
S&P Global Ratings anticipates India's economy will grow 6.5% this fiscal year. This revision considers normal monsoon and lower crude oil prices. Global uncertainties and Middle East unrest pose risks.
Will Public Provident Fund (PPF) rate fall below 7% for the first time in decades, influenced by the Gopinath Committee formula and fluctuating 10-year government bond yields? Despite the possibility of a rate cut, PPF remains an attractive investment due to its tax-free interest, especially compared to taxable bank deposits and capped Voluntary Provident Fund contributions.
Stock market recommendations: SBICAP Securities' Sudeep Shah suggests Trent and Bharti Airtel as top stock picks, citing positive technical indicators and potential for upward momentum. Nifty is expected to test 25400-25550, while Bank Nifty aims for 57000-57500.
India has made significant strides in sustainable development, securing 99th position in the 2025 SDG Index, a notable improvement from previous years. While global progress on SDGs is slow, East and South Asia have shown the most advancement. The report highlights the need for global financial system reforms to support emerging economies in achieving sustainable development goals by 2030.
2025/06/30 12:24:58
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