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Ep-1083 Daily Money Show
Original: Ep-1083 | Daily Money Show | Stock Market News Today
Takeaway
Falling WPI/food inflation plus oil minister's reassurance on reserves outweighed Israel-Iran war fears.
Summary
- Market: Sensex +677 to 81,796; Nifty +227 to 24,946 on Trump hopes for Israel-Iran deal soon (Iran still rejects ceasefire)
- India imported 35-40% of its oil from Russia since 2020 - low Iran dependency cushions market; oil minister says 50% crude reserves stocked at lower prices, expects $65-75/barrel range
- WPI inflation dropped from 0.85% to 0.39% MoM; food inflation also down - positive for economy
- India-US trade deal first tranche may finalize by July 9 stipulated time; UK FTA expected by August; EU FTA being pushed aggressively
- Three key events this week: Bank of Japan, Bank of England, US Fed (June 17-18) - Fed outcome lands after Wednesday's market close, could move Thursday's session
Iran warinflationFed
Original description
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