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Axis Bank's stricter lending norms impacted its June-quarter profits, causing a stock slump and a Nifty dip. The new rules, affecting loan upgrades and settlements, led to increased slippages, particularly in unsecured and agricultural sectors. This resulted in a profit decrease of 614 crore, ROA fell by 15 bps and ROE by 1.4%.
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Gold prices experienced a rise due to a weaker U.S. dollar and persistent economic uncertainties, enhancing its appeal as a safe-haven asset. Platinum prices saw a slight decrease after reaching a peak not seen since 2014. Market anticipates potential U.S. rate cuts, further bolstering gold's attractiveness amidst ongoing trade negotiations and geopolitical tensions.
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News and Media
European shares remained stable on Friday, balancing healthcare losses with gains in oil and gas, concluding a week of corporate earnings. The STOXX 600 held steady, while Germany's DAX fell and the UK's FTSE 100 rose. Investors are scrutinizing corporate guidance amid U.S. tariff policy shifts.
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The industrial sector is currently leading U.S. equities. Its strength faces a test with the upcoming earnings season. S&P 500 industrials have already gained 15% this year. Aerospace and defense stocks are boosting the sector. Investors are also watching trade developments and the Federal Reserve. Wall Street will focus on company earnings reports. The market has shown resilience despite uncertainty.
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News and Media
Microsoft will cease using China-based engineers for technical assistance to the U.S. military following a ProPublica report raising security concerns. Senator Tom Cotton and Defense Secretary Pete Hegseth responded swiftly, with Hegseth initiating a review of Pentagon cloud deals and ensuring China's immediate disengagement from cloud services.
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News and Media
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