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Profit booking and weak Asian markets capped gains as investors awaited the US Fed minutes, while IT stocks remained resilient ahead of quarterly earnings. Technical analysts recommend buying 360 One Wam and HFCL, citing bullish trends, strong momentum and favourable chart patterns.
Amazon is set to secure a minimum of twenty-five billion dollars through a U.S. bond initiative. This strategic decision is aimed at bolstering the company's burgeoning investments in artificial intelligence infrastructure. As the tech landscape evolves, major players such as Meta and Alphabet have also turned to debt markets to fuel their AI ambitions. The funds raised will primarily address corporate needs and manage impending debt obligations.
The Reserve Bank of India is set to hold an overnight variable rate repo auction on July 8, offering Rs 25,000 crore. This auction aims to address current liquidity dynamics, and the funds will revert on July 9. Following less engagement in a prior auction due to excessive liquidity, this move seeks to adjust the monetary balance.
Kalyan Jewellers reported strong first-quarter revenue growth, supported by resilient domestic demand, healthy international performance and rapid expansion of recycled gold usage. The company also added new stores and said it entered the current quarter with positive momentum ahead of festive demand.
Global semiconductor stocks fell sharply as Micron and Intel dropped up to 8%, tracking weakness in Asian peers despite strong Samsung earnings. Investors are reassessing valuations after a strong AI-led rally, while concerns over custom chip development and future demand are making markets more selective towards AI-linked semiconductor companies.
Dow Jones & US Stocks today: Chip stocks experienced significant losses, impacting the S&P 500 and Nasdaq indices. Doubts emerged regarding the sustainability of the AI-driven rally, despite positive Samsung earnings. Samsung's shares declined in South Korea, affecting broader market sentiment. Other companies like Intel and Micron also saw substantial drops in their stock values. The Dow Jones Industrial Average, however, managed to achieve a new intraday record.
NCDEX has relaunched black pepper futures after more than a decade, aiming to restore India’s role in global price discovery. The contract offers farmers, traders and exporters a regulated platform for hedging, transparent pricing and better risk management amid volatile commodity markets.
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