Market News

US stocks end higher as investors turn to earnings season

US markets closed higher with the S&P 500 trading near record levels, supported by SK Hynix's strong Nasdaq debut and renewed momentum in AI-linked chip stocks. Investors are maintaining a cautious stance ahead of the earnings season and upcoming inflation data releases.

India's forex reserves surge $7.3 billion on FCNR and ECB inflows

India's foreign exchange reserves rose $7.26 billion to $674 billion in the week ended July 3, driven by increases in both foreign currency assets and gold holdings, according to Reserve Bank of India data. The gains reflect stronger inflows from Foreign Currency Non-Resident (FCNR) deposits and External Commercial Borrowing (ECB) activities.

Indian Bank Cancels Capital Raise on Lower ECL Impact

Indian Bank has cancelled its planned share sale after revising its expected credit loss (ECL) estimates downward, eliminating the need for additional capital. The bank's stronger Q1 performance, featuring 10% year-on-year net profit growth and robust advances and deposit expansion, supported the decision.

SK Hynix shares surge 14% in Nasdaq debut on AI chip demand

SK Hynix shares jumped 14% on their Nasdaq debut following a $26.5 billion offering, reflecting robust investor appetite for AI-focused semiconductor stocks. The South Korean chipmaker plans to expand high-bandwidth memory (HBM) chip production and AI infrastructure investments.

Kotak Mahindra Bank to Pursue Acquisitions Alongside Organic Growth

Kotak Mahindra Bank plans to combine acquisitions with organic expansion to enhance its market scale and customer reach in India. The bank recently acquired Deutsche Bank's retail portfolio and intends to capitalize on India's economic growth trajectory through both strategic acquisitions and internal development.

Bank credit growth hits two-year high at 18.6% as debt markets turn costly

Bank credit expanded to an 18.6% growth rate in the fortnight ending June 30, marking a two-year peak, while deposit growth also increased during the period. Corporate and consumer sectors are shifting borrowing preferences toward banks as debt market financing becomes more expensive.

Morgan Stanley cautions AI chip rally may be losing momentum

Morgan Stanley's Lisa Shalett has warned that semiconductor stocks may be overvalued as major technology companies develop proprietary AI chips at lower costs. The analyst expects slowing AI infrastructure spending and diminished pricing power to pressure chipmakers going forward.

Circle Wins OCC Approval to Launch US Trust Bank

Circle has received final regulatory approval from the US Office of the Comptroller of the Currency to establish a national trust bank, allowing the company to manage its own reserves and hold cryptocurrencies directly. The milestone underscores the growing integration of blockchain technology and digital asset firms into the traditional US financial system.

Shein Wins China Approval for Hong Kong IPO After Two Failed Attempts

Fast-fashion company Shein has secured regulatory approval for a Hong Kong initial public offering on its third attempt, according to reports. The announcement marks a significant milestone for the company, which has previously faced regulatory hurdles and market scrutiny in Western markets.

PFC Raises $300M Via Floating-Rate Bonds Maturing 2029

Power Finance Corporation, a state-owned entity, has successfully raised USD 300 million through the issuance of floating-rate bonds scheduled to mature in July 2029 and denominated in US dollars. The bonds will be listed on NSE IFSC and India INX, following Reserve Bank of India guidelines.

SK Hynix New York Debut Validates Billionaire Chey's AI Chip Strategy

South Korean billionaire Chey Tae-won's acquisition of SK Hynix has yielded significant returns, with the chipmaker now establishing itself as a leading producer of high-bandwidth memory chips for artificial intelligence applications and debuting in New York. The strategic move has positioned SK Hynix as a key player in the expanding AI sector, though emerging concerns about future demand and potential market oversupply present ongoing risks.

Warsh's Fed Reform Task Force Draws Praise, Faces Implementation Hurdles

Federal Reserve Chairman Kevin Warsh has assembled a 15-member external expert task force to lead reform initiatives, featuring former Obama administration officials and international central bankers. The ambitious review aims to conclude by year-end, though success will depend on securing broad institutional buy-in for any proposed changes.

Wall Street Banks Impose Restrictions on Staff Prediction Market Betting

Major Wall Street banks including Goldman Sachs, Morgan Stanley, JPMorgan Chase, and Bank of America have updated employee conduct guidelines to restrict or prohibit participation in financial and political prediction markets. The policy revisions aim to eliminate conflicts of interest and ensure compliance with industry standards.

SpaceX's AI Growth Engine Grounded in Earth-Based Compute

SpaceX is generating substantial near-term revenue from terrestrial artificial intelligence infrastructure contracts with major clients, with these deals expected to exceed income from other company operations this year. Analysts indicate that Earth-based compute services, rather than orbital AI applications, will be the primary growth driver for SpaceX through the remainder of the decade.

Oil Heads for Weekly Gain as Middle East Supply Risks Persist

Oil prices posted modest gains Friday as traders weighed Middle East geopolitical tensions, including renewed US-Iran hostilities and shipping disruptions in the Strait of Hormuz. Market confidence in diplomatic resolution efforts appeared to be limiting more dramatic price increases despite the supply concerns.

Delhi retail rents surge 9% annually as Khan Market leads gains

Retail space rents in Delhi's Khan Market rose 9 percent annually during April-June, with South Extension I & II recording the steepest increases at 10 percent, according to reports. Leasing activity across Delhi-NCR retail spaces doubled during the same period, indicating robust demand in India's commercial real estate sector.

US stocks open steady as SK Hynix debuts on Nasdaq

US stock markets opened with mixed performance as South Korean chipmaker SK Hynix made its much-anticipated Nasdaq listing debut, while investors monitored escalating Middle East tensions. The cautious market sentiment reflected a balance between optimism around major tech listings and concerns about inflation risks stemming from geopolitical developments.

Reliance Industries, Jio Financial Set Q1 Earnings Dates

Reliance Industries and Jio Financial Services have announced their June-quarter earnings announcement dates, with Jio Financial reporting on July 16, 2026, and Reliance Industries on July 17, 2026. The announcements mark the entry into earnings season for major Indian corporates, with investors expected to monitor updates on key business segments and financial services operations.

Premium housing demand, urbanisation to support India's realty market in H2 2026

India's housing sector is expected to remain resilient through the second half of 2026, buoyed by strong demand for premium properties and ongoing urbanisation trends, according to Knight Frank. While sales growth is moderating and new launches are outpacing absorption, stable fundamentals and RERA reforms are likely to prevent a sharp market correction.

India's 10-year bond posts best day in over a week as oil prices ease

Indian government bonds rallied Friday, with the 10-year segment logging its best performance in over a week, driven by strong auction demand, foreign inflows, and declining oil prices. The gains come as traders monitor geopolitical risks and weather developments, while a potential Bloomberg index inclusion looms as a potential market catalyst.