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Market Pulse: Key triggers to watch before the July 1 trading session
US markets were largely steady in intraday trade, with the Dow Jones Industrial Average moving little as oil prices held above $70 per barrel. However, Iran’s Foreign Ministry said there are no plans for talks with the United States at any level in the coming days. Coming to India, the fiscal deficit widened to ₹1.62 lakh crore during April–May FY27, compared with ₹13,200 crore a year earlier. The Finance Ministry said inflation is expected to remain contained in the coming months due to easing global commodity prices and moderating imported inflation.
Coal India plans R&D investment of Rs 1900 cr by FY2030
Coal India (CIL) has intensified its Research & Development (R&D) initiatives and plans to invest a total of around Rs.1,900 crore by FY 2030 on R&D activities.
No Changes To Ethanol Quotas: Supreme Court Steps In As Centre Defends E20 Policy
The court also issued notices to 24 respondents, including the Union government and 23 distilleries, on the public sector oil marketer's appeal.
Abu Dhabi Proposes New Oil-Pricing System To Mirror Wider Market
No timeline for the review or implementation was outlined, the people said.
US futures tick higher after Dow hits record; S&P, Nasdaq poised for strong half-year
Wall Street looked set to cap a strong first half as US stock futures rose following a record close for the Dow. Markets were buoyed by easing geopolitical tensions and a sharp decline in oil prices.
Global headwinds persist as India posts 7.8% Q4 growth amid easing oil, steady policy stance and mixed inflation trends
West Asia peace deal eased energy stress, pushing Brent below $80. India grew 7.8% in Q4, CPI rose to 3.9%, fiscal deficit at 4.4% of GDP. RBI kept repo at 5.25% with neutral stance amid mixed global PMI.
Abu Dhabi proposes new oil-pricing system to mirror wider market
Abu Dhabi National Oil Co. is proposing a shift in how it prices crude for term customers, aligning with regional trading norms. The company is considering setting official selling prices for Upper Zakum, Das, and Umm Lulu grades based on a differential to the Dubai benchmark, a move that could simplify comparisons with other regional crudes and support increased production following the UAE's exit from OPEC.
Bypassing US Dollar? India, Japan Eye Direct Yen-Rupee Settlement For Bilateral Trade
India, Japan plan direct yen-rupee settlements to cut costs and reduce dollar reliance.
Nifty July futures trade at premium
Infosys, HDFC Bank (India) and Reliance Industries were top traded contracts.
India plans to cut reliance on Middle East oil, tap spot market after war shock
India's state refiners are pivoting away from Middle Eastern oil contracts following the Iran war's supply disruptions. They plan to boost spot market purchases and forge deals with trading houses for diversified sourcing. This strategic shift aims to secure energy supplies and mitigate losses, with new avenues opening from Guyana, Brazil, and the US. The nation is also building strategic reserves to enhance energy security.
Reliance Power gains after setting up four AI subsidiaries
Reliance Power jumped 2.73% to Rs 24.81 after the company announced its entry into the rapidly evolving field of Artificial Intelligence (AI) and allied new-age technologies through the incorporation of new subsidiaries.
India's Russian oil imports to hit record high in June, data shows
India's Russian oil imports hit an all-time high in June, reaching approximately 2.70 million barrels per day. This surge is attributed to refiners seeking Russian barrels to offset potential supply disruptions from the Strait of Hormuz. Russian oil now constitutes over half of India's total crude imports, significantly increasing its dominance as the primary supplier.