5:10 PM
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HDFC Bank reported a 6.6% increase in standalone net profit for Q4 FY25, reaching Rs 17,616 crore. Total income remained nearly flat at Rs 89,488 crore, while interest income rose to Rs 77,460 crore. The board recommended a dividend of Rs 22 per share. Asset quality slightly deteriorated, with gross NPAs rising to 1.33%.
4:10 PM
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HDFC Bank and ICICI Bank are poised to release their Q4 FY25 financial results, with HDFC Bank showcasing a 7.7% year-on-year increase in advances, reaching Rs 27.73 lakh crore. ICICI Bank is anticipated to reveal robust earnings, projecting a 10-15% rise in net profit, driven by improvements in asset quality and a stable outlook from Fitch Ratings.
3:10 PM
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India's central bank witnessed a significant surge in its gold reserves' value, driven by a global rally in gold prices amidst geopolitical and economic uncertainties. The RBI's gold holdings nearly tripled in value over the past year, reflecting a broader trend of central banks worldwide accumulating gold to hedge against global risks.
9:10 AM
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US stocks experienced mixed performance as investors analyzed recent earnings reports amidst President Trump's tariff policies and criticism of the central bank. The Dow Jones Industrial Average declined, while the S&P 500 and Nasdaq saw slight fluctuations. Upcoming tariff negotiations with numerous countries will be a key area of focus for traders.
9:10 AM
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Wall Street experienced a sell-off triggered by Jerome Powell's remarks on potential tariff impacts and Nvidia's export concerns. Powell's warning about tariffs causing inflation and complicating economic management fueled market unease. Asian-Pacific markets diverged, showing gains despite Wall Street's decline, with central bank decisions influencing regional performance.
8:10 AM
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Jefferies is bearish on Mahanagar Gas due to reduced APM gas allocation, while Nuvama cuts ICICI Lombard's target despite premium growth. Nomura is bullish on Aditya Birla Real Estate, citing strong pre-sales. Investec upgrades Eicher Motors on Royal Enfield's rebound, while Morgan Stanley maintains an 'equal weight' rating on IndusInd Bank, awaiting audit clarity.
7:10 AM
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Indian stock markets experienced a third consecutive day of gains, with the Sensex climbing 0.4% and the Nifty rising 0.5%. Investor confidence was bolstered by positive local factors, including expectations of a strong monsoon and potential interest rate cuts. Bank stocks led the rally, fueled by a drop in retail inflation to a five-year low, overshadowing global trade war concerns.
6:10 PM
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Gold prices have soared to unprecedented levels, reaching Rs 98,100 per 10 grams in the national capital, fueled by escalating trade tensions between the US and China. This surge is further supported by a weakened US dollar and positive outlooks from major banks, citing inflows into gold-backed ETFs and sustained central bank buying.
9:10 AM
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IndusInd Bank disclosed that an external review quantified the impact of discrepancies in its derivatives portfolio, resulting in a Rs 1,979 crore hit to its net worth as of June 2024. This translates to a 2.27% reduction by December 2024. Following initial reports of derivative losses, the bank's stock experienced significant volatility, although it rallied nearly 7% on Tuesday.
9:10 PM
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Banking stocks rallied, leading market gains, fueled by anticipated interest rate cuts and positive investor sentiment. IndusInd Bank led the surge, followed by other private and public sector lenders. SBI's lending rate cut and deposit rate reductions across the sector are expected to boost loan demand and credit offtake.
6:10 PM
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Gold prices in Delhi climbed, matching last week's record high. Silver also surged due to industrial demand. International markets saw gold increase, while silver dipped slightly. Investors are watching US trade policy and upcoming statements from the US Federal Reserve and European Central Bank. Market observers are awaiting for Thomas Barkin and Christine Lagarde speeches.
8:10 AM
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Following the RBI's rate cut, SBI has reduced its deposit rates by 10 basis points across select tenors, while keeping MCLR-linked lending rates unchanged. The EBLR, linked to the repo rate, has been reduced by 25 basis points, lowering home and personal loan interest rates. Other banks are expected to follow suit, with HDFC Bank already cutting savings account rates.
7:10 AM
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Dalal Street faces a truncated trading week influenced by tariff developments, US bond yields, FPI activity, and corporate earnings. Volatility is expected to persist despite potential easing in the US-China trade war. Investors will closely monitor Infosys, Wipro, HDFC Bank, and ICICI Bank results after TCS's underwhelming performance, alongside commodity market trends, particularly Goldman Sachs' revised gold price target.
2:10 PM
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Fugitive diamond merchant Mehul Choksi, wanted in India for allegedly defrauding Punjab National Bank (PNB) of nearly Rs 14,000 crore, has been arrested in Belgium. His legal team is contesting extradition, citing the case's political nature and Choksi's poor health, including cancer treatment and PTSD from a prior alleged kidnapping.
11:10 AM
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Fugitive diamond merchant Mehul Choksi, wanted in the Rs 14,000-crore Punjab National Bank fraud, has been arrested in Belgium based on India's extradition request. He is accused of colluding with bank officials to fraudulently obtain financial instruments, causing significant losses. Choksi's legal team is preparing to challenge the extradition, citing his medical condition as a key factor.
10:10 AM
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Indian stock exchanges will be closed on Monday for Dr BR Ambedkar Jayanti. Last week, the markets closed positively, recovering from an initial decline triggered by US-China tariff concerns. Investors are now awaiting corporate earnings reports from major companies like Wipro, Infosys, HDFC Bank, and ICICI Bank in the holiday-shortened week.
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