Transcription
The American markets ran for the third day on the Iran deal and a fall in crude oil. The Dow closed at a life high with a jump of nearly 50 points, while the Nifty saw a stormy rise of 800 points. The Nifty fell by about 50 points to below 23,900. Dark futures are also sluggish ahead of the US Fed meeting starting today. The Bank of Japan's decision on interest rates will come shortly. In the G7 meeting, Trump said Hormuz will be fully opened by Friday. After the Iran deal, the focus will now be on ending the Russia-Ukraine war. Amidst improving conditions in Hormuz, crude oil is sluggish at a 3-month low below $84. Brent became $10 cheaper in three days of decline. The selling by FIIs in cash, which had been ongoing for 13 days, has been halted. A small purchase of ₹556 crore was made by combining cash, index, and stock futures. Meanwhile, domestic funds injected about ₹3,200 crore into the market for the 20th consecutive day. The Iranian President said talks with America are ongoing, but a final agreement has not yet been reached. Iran is ready for all options. On the strength of the global market, gold on M6 jumped ₹2,400 to above ₹1,52,900, while silver rose ₹5,300 to close above ₹51,450. Aluminum slipped to a 2-month low in the global market. Other base metals closed with a slight gain. The government will sell up to 5% stake in GICR through OFS. The floor price is ₹352. The OFS will open today for non-retail and tomorrow for retail. To prevent mis-selling, the RBI will tighten loan rules from January 1, 2027. Selling insurance forcefully with loans will be stopped. If mis-selling is proven, the customer will have to be refunded the full amount. The government has increased the windfall tax on diesel and ATF exports. The windfall tax on diesel increased by 50 paise to ₹14, and on ATF, it increased by ₹3 to ₹12.5.