Business

India has initiated an anti-dumping investigation into Resorcinol imports from China and Japan. This key chemical is vital for tyre and rubber manufacturing. The probe follows allegations that low-priced shipments are harming domestic producers. The Directorate General of Trade Remedies is conducting the investigation. If dumping is confirmed, anti-dumping duties may be recommended to ensure

The BSE Sensex, comprising 30 stocks, ended the session 607.08 points, or 0.78%, lower at 76,802.90. During intraday trade, the index had fallen as much as 940.26 points, or 1.21%, touching 76,469.72.The NSE Nifty closed down 154.90 points, or 0.64%, at 24,013.10.

India and the UK will enter into a Comprehensive Economic and Trade Agreement on July 15, deepening ties beyond trade and technology to foster new opportunities for businesses and people. This pact aims to significantly boost annual bilateral trade from its current £48 billion.

Andhra Pradesh is set to become India’s leading gold supplier, with significant reserves identified in Kurnool district. Jonnagiri village alone is estimated to hold 50 tonnes of gold. Commercial production has commenced, and further exploration is expected to boost reserves. The state aims to leverage private investment for this substantial mining endeavor.

Gold price prediction today: Gold prices are showing some signs of recovery, and Jateen Trivedi, VP Research Analyst – Commodity and Currency, LKP Securities recommends a buy on dips strategy:

US drivers are finally seeing relief as average gas prices drop below $4 a gallon, a welcome change after months of increases. This dip follows a tentative peace agreement between the US and Iran, reopening oil shipments through the Strait of Hormuz. Despite this, fuel costs remain significantly higher than pre-war levels, impacting household budgets

The decline followed a robust run over the previous five sessions, during which the benchmark indices had surged nearly 5%. Adding to investor caution, India VIX, the market’s volatility gauge, climbed nearly 5% to 13.30 in early trade on Friday.

Infosys led the decline with a drop of more than 8%. Other major names, including Mphasis, TCS, Tech Mahindra, LTIMindtree, HCLTech and Persistent Systems, registered losses of around 5-6%.

The Indian Rupee strengthened significantly against the US dollar on Friday, recovering from an all-time closing low. Optimism surrounding an India-US trade agreement, coupled with improved foreign inflows and softer crude oil prices, fueled the currency’s rise. Discussions between Prime Minister Modi and President Trump highlighted progress on a trade pact, with further negotiations planned.