Lead and cadmium are found in dark chocolate, a new study has found. The researchers tested 72 dark chocolate bars.
India's stock brokers are preparing for tougher times as the Securities and Exchange Board of India proposed stricter norms for equity derivatives. This is expected to hit profitability for discount brokers such as Zerodha, Groww, and AngelOne. BSE rose by 6%, while NSE’s unlisted shares declined 10-12%. High impact expected for Zerodha, Angel One, and Paytm Money.
Olympics 2024 India Schedule: On day six of the Paris Olympics 2024, India is aiming to win one medal every day, with top badminton players like Lakshya Sen, PV Sindhu, and Satwik Rankireddy and Chirag Shetty in action. India will face Belgium in the men's and women's race walk finals and women's 50m rifle 3 positions finals. The Indian golf campaign will begin with Shubhankar Sharma and Gaganjeet Bhullar in the men's individual strokeplay.
Mid-cap and small-cap indices achieved new highs with strong retail investor interest. Nifty's Midcap 150, Smallcap 250, and Microcap indices all recorded significant growth. Analysts noted the influence of market liquidity, mutual fund investments, and anticipated US rate cuts as key drivers behind the positive sentiment and impressive gains.
Duquesne Family Office, Driehaus Capital Management, and Jennison Associates have invested in Adani Energy Solutions' $1-billion qualified institutional placement. This marked their first venture into Indian equities. The oversubscribed QIP, attracting over ₹50,000 crore, will fund capital expenditure, smart meters, debt repayment, and other corporate needs.
Tokyo stocks dropped over three percent on Thursday morning, impacted by a rise in the yen following the Bank of Japan's interest rate hike and the Federal Reserve's indication of a potential rate cut later in the year.
The Federal Reserve reported notable advancements in reducing inflation, nearing its 2% target, hinting at a potential rate cut in September. Job growth has slowed and unemployment rates have increased. Despite this, the Fed maintained its key rate at 5.3%, facing pressure from some Democrats for rate reductions.
India reduced the windfall tax on domestically produced petroleum crude to Rs 4,600 per tonne from Rs 7,000 per tonne due to a drop in crude prices. The export duties on petrol, diesel, and aviation turbine fuel remained nil. The new rates took effect on August 1, as announced by the CBIC.
State Bank of India (SBI) and Canara Bank planned to raise up to ₹19,000 crore via debt issuances in response to higher loan demand and slower deposit growth. SBI aimed for ₹15,000 crore through tier-2 bonds, while Canara Bank sought ₹4,000 crore through additional tier-1 bonds, following previous substantial bond issuances.
Zee Entertainment Enterprises raised $239 million via foreign currency convertible bonds to bolster its financial position and drive growth strategies. This fundraising initiative aims to provide the necessary capital for both organic and inorganic expansion. The bonds attracted interest from various funds. Additionally, the company is addressing staff morale following a 15% workforce reduction.
The S&P 500 and Nasdaq reported their largest gains since February, buoyed by a chip stock rally. The Federal Reserve kept interest rates steady but hinted at potential easing in September. Technology stocks led market advancements. Nvidia's shares surged after a positive AI forecast by AMD, boosting the semiconductor sector.
Meta Platforms outperformed market predictions for second-quarter revenue and offered a positive third-quarter outlook, highlighting strong digital advertising on its social media apps. Revenue rose 22% to $39.1 billion. This growth eased investor worries about Meta's heavy spending on AI and its metaverse unit, Reality Labs, despite continued substantial investments.
The Bank of England considered cutting interest rates after maintaining them at a 16-year high of 5.25%. A close vote among policymakers was expected, with market probabilities suggesting a 66% chance of a quarter-point cut. Inflation trends and labor market conditions influenced this potentially crucial monetary policy decision.
The U.S. dollar fell on Thursday as the Federal Reserve suggested a possible interest rate cut in September. Meanwhile, the yen surged to its highest level since March after the Bank of Japan raised rates. Traders are now focused on upcoming inflation and jobs reports, expecting significant easing this year.
Asian markets and US futures climbed Thursday amid growing anticipation that the Federal Reserve will soon lower interest rates. The yen strengthened, leading to a drop in Japanese stocks. The US 10-year yield dipped to 4.03%, fueled by geopolitical events between Iran and Israel, and a shift in Fed policymakers' stance.
Oil prices surged in Asian markets following the assassination of Hamas and Hezbollah leaders, raising concerns of a broader Middle East conflict. Robust U.S. oil demand and declining stockpiles contributed to the price increase. A weaker dollar further supported oil demand from international investors.
On Wednesday, domestic markets saw a strong closure with Nifty rising 3% in July, driven by budget support and FII buying. Analysts predict ongoing momentum with sector rotation. Key data points include India VIX and global market trends. Significant Q1 results from companies like ITC and Sun Pharma are due on Thursday.
Happy Thursday! Tata Digital is developing a new ‘value fashion’ offering under its Cliq brand. Details on this and more in today’s ETtech Morning Dispatch.
Khaled Meshaal, survivor of a failed Israeli assassination attempt, is poised to become the new Hamas leader. Following the recent killing of Ismail Haniyeh, Meshaal's leadership is once again in focus. Known for his pivotal role in Hamas since the late 1990s, Meshaal enhances Hamas' agenda through international diplomacy and indirect negotiations.
Mallikarjun Kharge, Congress President, grew emotional in Rajya Sabha when BJP's Ghanshyam Tiwari questioned his political background, alleging nepotism. Kharge appealed to expunge these remarks, emphasizing his status as a first-generation politician. Chairman Jagdeep Dhankhar assured that the records would be reviewed and any offensive words would be removed.
Markets experienced a slight uptick on Wednesday. Key companies such as ITC, Tata Motors, and Infosys will be under focus due to their quarterly results. Tata Steel and Coal India reported profit growths, while Infosys faces a GST investigation concerning Rs 32000 crore. Bank of Baroda and Sonata Software also posted their quarterly results.
Khalid Sheikh Mohammed and his accomplices at Guantanamo Bay have agreed to plead guilty, likely in exchange for life sentences. The detainees have been under scrutiny for enhanced interrogation techniques. The plea deals drew criticism from U.S. Senate Republican Leader Mitch McConnell, who accused the Biden administration of showing cowardice in dealing with terrorists.
Donald Trump asserted Kamala Harris downplayed her Black heritage, causing backlash at a Black journalists' event. Harris, who identifies as both Black and Asian, faced sexist and racist attacks. The White House condemned Trump's comments. A Reuters/Ipsos poll indicated Harris has a narrow lead over Trump. Trump's campaign focuses on courting Black voters.
