Transcription
Good morning, Neha. First, we would like to understand what kind of action was seen in the American markets. Absolutely, good morning, Swati. After a long weekend, American markets have returned, and what action they have returned with. The Dow has once again started its streak of record rallies. For the first time, it has crossed 53,000. It touched a new life high intraday, and we saw it give a record closing near 5356. It made a new life high intraday near 5360. Not only this, but a tremendous jump of 288 points was also seen in the Nasdaq. The two-day decline here has been broken. Talking about the S&P, a strength of 54 points was also seen here, and the closing happened at a three-week high. In fact, we saw good strength coming in semiconductor stocks. The fear of inflation has also reduced considerably here. The way improvement is being seen in crude oil supply. Thanks to the opening of the Strait of Hormuz. Because of this, we have seen good strength in the American markets. Now, this week is important. On Wednesday, the minutes of the FOMC's June meeting will be released. So, some more details will be available regarding future monetary policy. For this reason, we saw such tremendous strength in the American markets. Absolutely. So, the complete situation of the American markets is done, Neha. Crude oil and commodities, what is the movement here? Absolutely. Along with this, let me also tell you about the dollar index. It closed below 101 for the third day. Now, you mentioned crude oil. Let's start from there. A slowdown is being seen here. It is near $72. It is trading close to a 4-month low. The price of crude oil has fallen by 25% in a month. One big factor that is emerging here. One is that the Strait of Hormuz has opened. Movement is ongoing from there. In fact, there was also news that approximately five oil supertankers, linked to Japan, passed by Iran, carrying a total of 1 crore barrels of oil. But the biggest development is that Saudi Arabia, which is among the world's largest oil producers and exporters. Here, Saudi Aramco has reduced the OSP, the Official Selling Price, for Arab Light crude for Asian countries by $1. The expectation was that they would cut it by $8 per barrel. They have made a much larger cut, and we are seeing that this is the biggest cut in 26 years. They offered crude oil to Asian buyers at a discount of $0.5. These are the prices for August loading. Before this, we saw discounts offered for crude oil by Saudi Arabia in the year 2020, which was the COVID year, and also in 2015, when there was a war-like situation, at that time also, an attempt was made by Saudi Arabia to sell cheaper oil. Now you see, supply is also increasing, and demand also needs to be generated. These are all the factors that are putting pressure on crude oil. I have already told you about currencies. Looking at the 10-year bond yield in America, it is quite stable around 4.47%. No major fluctuations are visible. The rally in gold for three days has been broken. A slight fall of $2 was seen. The rally in silver for four days has also paused. Here too, a fall of less than half a cent was seen. Except for lead, most metals have shown slight strength. Range-bound trading was seen. But amidst all this, there is some action in agri-commodities. Particularly, global coffee prices, Arabica coffee on the ICE exchange. A sharp jump was seen in this. This commodity has reached a 5-month high, and yesterday a jump of 15-16% was seen in it. And talking about raw sugar, a strength of 2% was seen. It also closed above 15 cents. Absolutely, thank you, Neha, for the complete details.