Foreign banks bought 600 billion rupees in Indian bonds, focusing on shorter maturities due to improved liquidity and limited treasury bills supply. Bank of America's Vikas Jain noted influences like JP Morgan's index inclusion. Key factors include 6.95% yields, fiscal deficit, lower overnight rates, and the Reserve Bank of India possibly reducing the repurchase rate to 5.5% by March 2026.
Sensex and Nifty reached new highs, led by IT and tech stocks. RailTel surged 14.29%, Axis Bank 1.6%, HCL Tech 3.3%. Pravesh Gour from Swastika Investmart suggests RailTel targeting 700+ post-triangle breakout, Axis Bank 1400, HCL Tech has inversed head and shoulder, eyes 1600 resistance. RSI and MACD indicators noted.
Eleven stocks, including ABFRL and GNFC, are banned from F&O trade for exceeding 95% MWPL. The ban lifts if OI falls below 80%. Trendlyne Friday data: GMR 223.3M (104.1% MWPL); Chambal Fertilizers 10.1M (86.3% MWPL). Index traders are unaffected. Sensex reached 80,893.51, closing at 80,519.34; while Nifty hit 24,592.20, closing at 24,502.15.
Australian stocks hit record highs, driven by banks, miners, and healthcare. S&P/ASX 200 rose 0.9%. BHP, Rio Tinto, Woodside Energy, CSL, and Ramsay Health Care performed well. New Zealand’s S&P/NZX 50 fell 0.1%, awaiting inflation data. Technology stocks like Xero gained. The Reserve Bank of New Zealand held the cash rate but may ease policy.
Gold prices dropped amid firm dollar; investors focus on Fed comments, economic data. Spot gold at $2,407.29, futures at $2,411.20. Bond futures down on Trump-related uncertainty. Powell to speak; June consumer price drop suggests September rate cut. Key data: retail sales, industrial output, jobless claims. Physical gold demand in Asia weak due to high prices.
Oil prices decline due to stronger dollar amid U.S. political uncertainty and Gaza ceasefire talks. China's oil imports decrease, reflecting subdued demand. Middle East conflict impacts oil market. U.S. oil rig count drops to lowest level. OPEC+ supply cuts remain in place.
