Market News
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Global Market: BOJ policymakers push for faster rate hikes as inflation risks mount
The Bank of Japan is growing more concerned about persistent inflation, with some policymakers advocating faster interest rate hikes after raising the policy rate to 1%, the highest in 31 years. Officials cited rising cost pressures from a weak yen, high energy prices and strong AI-driven demand, with some members suggesting rates may need to move closer to a neutral level of around 2% through gradual but more frequent increases.
Hormuz shipping activity shows signs of recovery; Indian refiners shine amid disruption: S&P Global
Shipping through the crucial Strait of Hormuz is showing signs of recovery, with daily transits increasing significantly, though still far below pre-war levels. Indian refiners, however, are demonstrating remarkable resilience, successfully diversifying their crude oil sources to include Russian, Brazilian, West African, and US grades amidst ongoing global energy supply disruptions. Market watchers remain vigilant as geopolitical tensions continue to influence oil trade.
Eleven India-bound vessels have crossed Strait of Hormuz since signing of Iran-US MoU: MEA
Eleven India-bound vessels have successfully navigated the Strait of Hormuz since the US-Iran agreement on June 17, according to MEA spokesperson Randhir Jaiswal. Ten Indian-flagged ships remain in the Persian Gulf, with two more entering the region. This crucial waterway, vital for global oil transit, has recently faced disruptions, raising concerns about energy supplies and market stability.
India needs to diversify its sources of energy needs, says NITI vice-chairman
NITI Aayog Vice Chairman Ashok Kumar Lahiri highlighted that the West Asia conflict, though a temporary supply chain issue, underscores India's need to diversify energy sources. He expressed optimism about an upcoming India-US trade agreement and advocated for including pharmaceutical products in future FTAs. Lahiri likened the crisis to a manageable 'influenza,' emphasizing the lesson of not concentrating all import and export dependencies.
Worst is over for crude oil prices for now: Jim Burkhard, S&P Global Energy
Oil prices will remain volatile, but we expect Brent to move into the $80-$90 range, says Jim Burkhard, vice-president and head of research for oil markets, energy and mobility at S&P Global Energy.
Interarch Building Solutions bags ₹165 crore order; June order wins reach ₹375 crore
Interarch said it has secured new orders worth approximately ₹375 crore during June 2026, including the ₹165-crore contract from the energy sector in Vadodara, along with projects from the hydrocarbon, farm equipment, electrical products, renewable energy and data centre industries.
Dalal Street set for a firm opening as GIFT Nifty trades higher
Indian markets surged on Monday, with the Nifty closing higher, buoyed by positive US-Iran talks, falling crude prices, and strong global sentiment. Value buying in IT stocks and reduced market volatility also contributed to the rally. Analysts anticipate a continued positive outlook for Indian equities, driven by ongoing diplomatic progress and stable energy prices. Investors are advised to watch key technical levels as volatility may persist.
US suspends sanctions on Iranian oil until August 21 amid negotiations to end West Asia war
Washington has granted Iran a 60-day waiver on oil sanctions, permitting the nation to produce, export, and sell its crude until August 21. This move, part of an interim deal to de-escalate tensions, offers significant relief to Iran's energy sector. The decision could boost Iranian oil shipments, potentially alleviating global supply worries and stabilizing energy costs.
Oil prices could fall below $60 by 2027 as supply outpaces demand, says energy expert
Christof Ruehl, Global Advisor at Crystol Energy, expects oil supply to exceed demand by more than 1 million barrels per day in 2027, potentially pushing prices below $60 per barrel. Ruehl also said energy markets have become more resilient, while efficiency gains and the rise of electric vehicles could bring the world closer to peak oil demand.
Laurus Labs, Biocon, Ather Energy, Lenskart among probable MSCI India Standard Index inclusion candidates, says JM Financial
JM Financial anticipates significant shifts in the MSCI India Standard Index. Laurus Labs and Biocon are flagged as high-probability additions from the Small Cap Index, while Ather Energy and SAIL are medium-probability candidates. SBI Card faces a high probability of exclusion. These potential changes could lead to substantial passive fund inflows into India, estimated around $3.2 billion, impacting institutional investors.
ArcelorMittal partners with AWS to automate global operations
Steel giant ArcelorMittal is joining forces with Amazon Web Services (AWS) to revolutionize its global operations. By integrating AWS's cloud and AI capabilities, the company aims to enhance safety, improve asset reliability, and boost energy efficiency across its manufacturing processes. This strategic partnership will leverage advanced technologies like industrial IoT and machine learning to enable predictive maintenance and optimize production, marking a significant step towards digitally enabled, sustainable steelmaking.
Iran war triggers global race to build oil reserves
Vulnerable nations, stung by the Iran war's economic fallout, are boosting oil and gas storage to weather future crises. This global push for reserves could add half a billion barrels of demand. Countries like India and Pakistan are prioritizing stockpiles, learning from China's successful strategy of reducing imports during supply disruptions. This move aims to prevent severe economic distress and insulate economies from volatile energy markets.