Chemical companies anticipate a mixed September quarter. Volume recovery in some areas faces challenges from weak pricing and lower demand. Specialty and fluorine-based firms are poised for better results. Agrochemicals may see a weaker performance due to weather disruptions. Investors will monitor project launches and price trends.
Banking profits from treasury operations significantly declined in the September quarter, nearly halving due to rising bond yields and the absence of central bank support. This trend is expected to persist, impacting income for the current quarter as well. Major banks like HDFC and ICICI Bank witnessed substantial drops in their treasury gains.
Indian exporters, particularly in IT and textiles, saw a significant surge on Thursday following reports of an impending India-US trade pact. This potential deal could drastically lower US tariffs on Indian goods, boosting export prospects.
Sebi is proposing a new system for mutual fund investments. Investors will soon be able to start investing once their KYC is verified. This aims to streamline the process and prevent issues with non-compliant folios. The regulator also highlighted problems with incorrect bank details affecting redemptions and dividends.
Indian stock markets closed higher for the sixth consecutive day. Gains were fueled by positive reports on trade negotiations between India and the US. Information Technology stocks saw a significant rise. While Reliance Industries shares declined, the overall market sentiment remained optimistic. Investors are awaiting concrete outcomes from the trade deal discussions.
