Savings Effect

SEPC: CO BAGS MASSIVE RUPEES 673 CRORE SAIL EXPANSION PROJECT; REINFORCES POSITION IN INDUSTRIAL INFRASTRUCTURE

STEEL EXCHANGE INDIA: SECURES APCRDA APPROVAL FOR SIMHADRI TMT GRADES, POSITIONING ITSELF AS A KEY SUPPLIER FOR THE ₹65,000 CRORE AMARAVATI CAPITAL CITY INFRASTRUCTURE PROJECTS AND EXPANDING ITS PRESENCE IN LARGE-SCALE CONSTRUCTION WORKS IN ANDHRA PRADESH.

BIG NEWS FOR SCHNEIDER ELECTRIC CO PARTNERS FOXCONN GROUP IN DATA CENTRE

The US military has received a directive to lift the blockade in the Strait of Hormuz on Friday if an agreement with Iran is signed, CNN reported, citing a US official.

HOTELS CHAINS BET ON RESORTS AMID RISE IN LEISURE TRAVEL - MINT ( INDIAN HOTELS )

IPCA: CO, BHAMI RESEARCH TEAM UP FOR MONOCLONAL ANTIBODIES || LICENCING AGREEMENT GRANTS IPCA ACCESS TO BRL’S PROPRIETARY HIGH-CONCENTRA- TION SUBCUTANEOUS BIOLOGICS DELIVERY PLATFORM FOR THE DEVELOPMENT AND COMMERCIALISATION OF MULTIPLE MONOCLONAL ANTIBODY PRODUCTS TARGETING ONCOLOGY AND INFLAMMATORY DISEASES - BL

NMDC: CO EYES NEW MINERALS, OVERSEAS BIZ AS IRON GRIP SLIPS - MINT

MF DISTRIBUTORS SEEK TAX RELIEF AS FEE RULES BITE - MINT

INDIA RAMPS UP J&K HYDRO PLANS AS INDUS TREATY STALLS GOVT INVESTING $3 BILLION AS IT LOOKS TO USE EXCESS WATER DOMESTICALLY FOR ELECTRICITY GENERATION- MINT ( NHPC, POWER GRID)

AFTER NESTLE, FSSAL ISSUES NOTICES TO 8 FOOD BRANDS || CO'S SERVED NOTICES ON SUNDAY INCLUDE EMAMI HEALTHY & TASTY, HEALTH AID, TROOVY, THE HEALTHY FACTORY, HEALTHY MASTER, HEALTHY CHOICE, PLAN B AND NEUHERBS. - FE ( EMAMI )

The US and Iran officials announced a preliminary deal to end the war in the Middle East and reopen the Strait of Hormuz. The agreement led to a sharp fall in crude oil prices, which had surged as high as $120 a barrel after the conflict began on February 28.

Indian government bonds gained and the 10-year benchmark yield dropped to a 12-week low on Monday, following a rally in global bond markets, as crude oil prices slumped after the US-Iran peace deal. The yield on the benchmark 6.94% 2036 note dropped 3.2 basis points to 6.8637%, its lowest intraday level since March 25. The yield is now 20 bps above pre-war levels. Meanwhile, the US 10-year yield also fell nearly 6 bps to 4.42%. The Indian rupee was also trading near a five-week high at 94.5750 per dollar.

The US dollar slid to a 10-day low against its major peers amid rising risk-appetite. The dollar index, which measures the greenback against a basket of currencies including the yen and the euro, fell 0.31% to 99.492, the weakest level since June 5. The euro rose 0.35% to $1.1607, and Sterling strengthened 0.3% to $1.3448. The Japanese yen weakened to as much as 160.150.

Gold prices rallied after the US-Iran peace deal pushed oil prices lower and eased concerns about inflation and higher interest rates. Spot gold price gained 1.8% to $4,297.42 per ounce, while US gold futures for August delivery rose 1.9% to $4,318.10.

Gold prices rallied after the US-Iran peace deal pushed oil prices lower and eased concerns about inflation and higher interest rates. Spot gold price gained 1.8% to $4,297.42 per ounce, while US gold futures for August delivery rose 1.9% to $4,318.10.

Crude oil prices crashed more than 4% after the US and Iran reached a peace agreement to end the war and reopen the Strait of Hormuz. Brent crude oil price plunged 3.95% to $83.88 a barrel, while the US West Texas Intermediate (WTI) crude declined 4.68% to $80.91.

SpaceX shares made a strong debut on Nasdaq on June 12, listing at $150 apiece, an 11% premium to its issue price of $135. The listing marked Wall Street’s largest public offering in history and gave Elon Musk’s company a market valuation of approximately $1.96 trillion. Following its debut, Space Exploration Technologies Corp., as the company is officially known, immediately became the sixth largest publicly listed company in the US.

India CPI Inflation India’s retail inflation rose to 3.93% in May from 3.48% in the preceding month due to higher food prices. Consumer Price Index (CPI) based inflation in the food basket was 4.78% in May, higher than 4.2% in April.

US-Iran Peace Deal US and Iranian officials said they had agreed on a framework to end their war, halt the US blockade of Iran and reopen the Strait of Hormuz, but left the fate of Iran’s nuclear program to further negotiations. Mediator Pakistan said the US and Iran agreed to a peace deal and an “immediate and permanent” end to military operations on all fronts, including Lebanon.

Japan Bond Yields Japanese government bond (JGB) yields fell following the US-Iran peace deal, sending oil prices lower and easing inflation worries. The benchmark 10-year JGB yield fell 6 bps to 2.575% and the 20-year JGB yield slid 6 bps to 3.460%.