India’s foreign exchange reserves surged by $2.362 billion to $703.308 billion in the week ending April 17, following a previous gain of $3.825 billion. This increase, driven by rising foreign currency assets and gold reserves, marks a rebound after a decline caused by Middle East geopolitical tensions.
JPMorgan has shifted its stance on Indian equities to neutral, citing high valuations and geopolitical uncertainties. The brokerage warns of a potential 15% Nifty 50 decline in a worst-case scenario, impacting earnings due to energy supply risks. While the long-term outlook remains robust, near-term caution is advised, with other emerging markets potentially offering better opportunities.
India and the US concluded three days of trade talks in Washington, aiming to finalize an interim trade pact and advance negotiations for a broader bilateral agreement. Discussions covered market access, digital commerce, and economic security.
Finance minister Nirmala Sitharaman has directed banks to bolster cybersecurity against advanced AI threats, including those posed by Anthropic’s ‘Claude Mythos’. Emphasizing proactive measures and real-time threat sharing, she urged banks to collaborate, hire top professionals, and leverage AI for defense, ensuring robust protection of customer data and financial assets.
Tokyo’s metropolitan government is allowing employees to wear shorts to work this summer as part of an expanded “Cool Biz” energy-saving initiative. This move aims to combat rising energy costs, exacerbated by the Middle East war, and address increasingly harsh summers. The policy encourages comfortable attire, including polo shirts, T-shirts, and sneakers, alongside teleworking and
Indian consumer goods firms are grappling with soaring input costs, driven by the Middle East conflict. Companies are now tracking expenses daily and frequently adjusting prices, impacting long-term strategies. Executives fear higher prices could dampen consumer spending, which had recently shown signs of recovery. This volatility is forcing immediate, short-term decisions across various product categories.
Technology stocks bore the brunt of the selling. Shares of Infosys, HCLTech, Tech Mahindra and Tata Consultancy Services fell between 2 per cent and 4 per cent after Infosys’ fourth-quarter results failed to meet market expectations.
Brokerage views on Infosys remain mixed, with analysts balancing near-term challenges against the company’s long-term positioning. They have expressed a measured outlook on Infosys.
Gold price prediction today: Gold prices continue to be volatile and a buy on dips strategy is recommended for today, says Jateen Trivedi, VP Research Analyst – Commodity and Currency, LKP Securities recommends a buy on dip strategy.
Asian markets navigated a cautious trading session Friday, influenced by ongoing Iran conflict uncertainties and stalled US-Iran talks. While some indices saw modest gains, others dipped, reflecting investor unease. Rising oil prices added to market anxiety, with analysts predicting continued volatility. Attention also turned to currency markets, particularly the Japanese yen, and upcoming central bank
