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Ep-1057 | Daily Money Show | Stock Market News Today
Takeaway
Geopolitical risk is the primary market driver right now, but the Sumitomo-Yes Bank deal shows large strategic flows are still happening.
Summary
- Sensex fell 880 pts to 79,454 and Nifty 265 pts to 24,008 as India-Pakistan border tensions escalated, with Indian forces intercepting drones and missiles.
- Pakistan economy in poor shape, official tweet asking countries for loans was deleted claiming hack; host argues Pakistan cannot sustain a prolonged war.
- UK-US trade deal finalised; Trump signalling 145% China tariffs may be cut soon as US-China trade war cools off.
- Yes Bank up despite weak market: SBI board to sell 13.19% of its 24% stake to Japan's Sumitomo Mitsui Banking Corp at Rs 21.50/share.
- Market direction tied to war intensity; if Pakistan backs off, sharp recovery likely, else further volatility expected.
WarYes BankSBITrade DealMarket
Original description
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