Transcription
Let's first talk to Neha. Good morning, Neha. First, what is the latest update on the US-Iran front? Some tensions have started to rise again. Absolutely, Swati, good morning. See, if Mr. Trump doesn't say anything, then you can say where the conversation will be seen to move forward. Tension, yes, and that too when sitting face-to-face, the 14-point document has come. Signatures have been made by both sides. Despite this, tension again. Now, what has been said between June 19th and 21st? First of all, Iran, in the midst of talks which are ongoing in Switzerland and their own Vice President is present there, then they openly threatened. Trump threatened Iran with war through Truth Social and said if you do not stop your proxies on Hezbollah, then America will attack again with full force. If you try to close Hormuz, you will not even be left in a condition to return to your country. He also said this in his threat. During the 60-day ceasefire, Hormuz will remain completely toll-free. This statement also came from them over the weekend, and they said that if this does not happen, then America itself may start collecting tolls. So, these are some of the developments. We saw that the situation also seemed to deteriorate with Trump's threat. Now, when he said all this over the three days, Iran did not like it either. In protest of Trump's threats, Iran abandoned the first round of talks midway and they have also refused to participate in the next round of talks, and Iran's condition is that the war in Lebanon will not end, and the talks will not move forward. So, these are all the factors. Once again, you can say that the 60-day ceasefire and the signatures on the peace deal agreement are once again in question: will the war truly end? Will the Strait of Hormuz open, and will the situation be restored to its previous state or not. Meanwhile, there is another development that the US representation regarding the India-US trade deal is coming to India. Absolutely, now tell us, Neha, how will the Indian markets move forward with signals from the international market? Absolutely, see, Friday, Swati, was a holiday for the US markets, June 10th holiday. But if you talk about the overall performance in that truncated week, the performance has been quite good. A strength of around 0.75% to 2.5% was seen. For the second consecutive week, we saw a strong weekly performance in the major US markets. On the other hand, if we talk about other international markets, the European markets, the German market, the Dax, after a one-sided rally of six days, we saw a break here. However, if we talk about the Nikkei market or the Korean markets, the series of life highs continued here as well, and on Friday, the Korean market Kospi rose 11% last week, and this was the best performance among any major markets in the world on a weekly basis. Talking about the commodity market, you must be seeing some strength in gold and silver this morning. But if we talk about Friday, there was a widespread decline in the global metal market. Both gold and silver [clears throat] closed at their lowest levels in 10 to 11 days. Gold closed around ₹4172. Silver lost 2 to 2.5% and closed below $65. In two days, the prices of silver saw a decline of approximately 8.5%. On the other hand, talking about metals, aluminum was the only one that closed flat. Otherwise, copper closed down for the second consecutive day. We saw that this commodity is trading at its lowest level in about 2 to 2.5 months. It was a weak weekly performance for the third consecutive week. Besides, if we talk about zinc, a decline of 2 to 2.25% was seen here, and almost after several weeks, the biggest single-day decline was seen here. Meanwhile, crude oil, though slowly, saw a positive performance on Friday. It was the third day of a rally. On Friday, Brent crude rose by about 1% and closed above $80. Although it may appear a bit negative this morning, crude oil has seen a weak weekly performance for the second consecutive week. A weekly decline of around 7.7% was observed. Thank you very much, Neha, for providing the complete update on commodities and international markets.