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JPMorgan Chase is nearing a $1 trillion market valuation, a historic milestone for a bank. The lender's shares reached a record high after reporting its highest quarterly profit ever. Analysts expect dealmaking activity to remain strong through the rest of 2026. This achievement would place JPMorgan alongside major technology giants like Tesla and Meta. The bank's diversified business model and strong leadership contribute to its impressive performance.from Business News Today: Stock Markets, Financial News, India Business & World Business News https://ift.tt/dCWiDOq
Government is accelerating the IDBI Bank stake sale process. Two bidders, Fairfax and Emirates NDB, are being considered. This follows the rejection of earlier bids below the reserve price. Recent foreign investments in Indian banking include Yes Bank and RBL Bank. Mitsubishi UFJ Financial Group also made a significant investment in Shriram Finance.
India is among major economies that are stepping up purchases of gold, while trimming holdings of US Treasuries. Central banks have increasingly begun viewing gold not only as a hedge against inflation but also as a core store of value.
Finance Minister Nirmala Sitharaman urged banks to enhance outreach to Non-Resident Indians. She called for introducing innovative deposit products to sustain foreign currency deposit momentum. Banks reported significant interest from NRIs in several key global locations. Attractive returns are being offered on FCNR(B) deposits, including five-year options. This initiative aims to mobilize further foreign currency inflows for the nation.
The Supreme Court has ruled that a bank cannot resist eviction under the Delhi Rent Control Act merely because it came into possession of leased premises through a statutory amalgamation.
Stock market recommendations: Sudeep Shah, Head - Technical Research and Derivatives, SBI Securities recommends Indian Hotels Company, and Equitas Small Finance Bank as top stocks to buy for the July 13-July 17, 2026 week. Technical outlooks for Nifty, and Bank Nifty have also been shared:
Four of India's top ten companies added significant market value last week. HDFC Bank and Bharti Airtel led these gains, increasing their valuations substantially. Reliance Industries also saw its market capitalization rise, retaining its top position. However, Hindustan Unilever and Larsen & Toubro experienced the steepest declines. The equity markets ended the week negatively due to geopolitical concerns and oil prices.
A weaker monsoon poses risks to India's rural economy and farm incomes. This could increase food inflation and slow down consumption demand in coming months. Agriculture and related sectors face the biggest impact from below-normal rainfall. Microfinance institutions are more vulnerable than banks due to rural borrower exposure. Hydroelectric generation may decline, but broader economic outlook remains supported.
Stock market recommendations: Bharti Airtel, and HDFC Bank - these are the top 2 stocks that Bajaj Broking Research has recommended for buying on July 10, 2026:
Bank lending to industry saw power sector lead growth in early FY27. Chemicals and vehicles also experienced significant increases in credit allocation. Telecommunications exposure declined, reflecting a shift in lender priorities. Overall infrastructure sector growth was positive, excluding telecommunications contraction. Industry's share in total bank credit continued its gradual decline.
Plan your bank visits carefully as several branches will be closed on specific dates this July due to regional holidays. West Bengal and Mizoram observe closures today, July 6. Further state-specific holidays are scheduled across Meghalaya, Odisha, Uttarakhand, Manipur, Sikkim, and Tripura. Remember, Sundays and the second and fourth Saturdays also mean branch closures. Digital banking services remain unaffected.
America's mounting debt is now the primary threat to its global economic dominance, surpassing external competition. Deutsche Bank warns that persistent deficits and soaring interest payments are eroding a key advantage. While the US possesses enduring strengths, the nation faces imminent fiscal challenges, including the potential exhaustion of Social Security and Medicare funds, which will demand urgent attention from future administrations.
Pakistan's fiscal decentralisation efforts have failed to bridge regional spending gaps, with provincial capitals like Quetta and Lahore receiving significantly more per person than their own provinces. Despite budget surpluses in some areas, poorer regions face underinvestment. Concerns also arise over education and healthcare spending not yielding desired results, alongside widespread financial irregularities uncovered by auditors.
The Central Bureau of Investigation (CBI) has apprehended Amit Bapna, former CFO of Reliance Capital Ltd, as part of its probe into Reliance ADA Group matters. Authorities allege Bapna, a key financial decision-maker, approved loans to intermediary firms despite knowing it violated RBI guidelines. Funds were reportedly diverted to various Reliance group entities, causing losses to banks and gains for the accused.
Indian banks witnessed robust credit growth in the June 2026 quarter, with some lenders seeing advances surge significantly. However, a widening gap emerged as deposits declined for select banks like Bank of Baroda, IDBI, and RBL. Public sector banks maintained a steadier credit-deposit growth, while private lenders adjusted liabilities. Factors like a new credit guarantee scheme and supply chain issues fueled loan demand.
Indian equity benchmarks closed higher on Friday, buoyed by positive global sentiment, falling crude oil prices, and anticipation of a softer interest rate environment. The Nifty 50 and BSE Sensex both saw gains, with the Nifty 50 ending the week nearly 1% up. Realty and IT sectors led the gains, while PSU Banks and Auto sectors experienced declines. The rupee also strengthened against the dollar.
The proposal has gained traction following multiple meetings held over the past two weeks involving senior government ministers, officials from the Reserve Bank of India, banks and representatives of the gold industry, the report said.
Bank of Baroda has settled a major legal dispute, agreeing to pay $600 million to administrators of the collapsed NMC Health group. This out-of-court agreement concludes years of litigation concerning cross-border insolvency and alleged fraud following NMC's 2020 downfall. The payment will be distributed to creditors, with the bank's shares seeing a reaction to the news.
Top stock market recommendations: REC, Oberoi Realty, and Home First Finance Company India have been recommended by Aakash K Hindocha, Vice President - Research, Nuvama Professional Clients Group/Nuvama Wealth Management as top stocks to buy on July 2, 2026. He has also shared his views on Nifty and Bank Nifty.
The Reserve Bank of India's intervention to shield the rupee from volatility, fueled by Middle East tensions, has widened its net short forward position to a record $106.6 billion. Despite a recent dip to a historic low, the rupee has shown recovery, buoyed by anticipated foreign capital inflows. These expected inflows are seen as a potential avenue for the RBI to reduce its forward position and bolster foreign exchange reserves.
Global central banks are boosting gold reserves amidst rising geopolitical risks, with a significant portion planning to reduce US dollar exposure. A new survey reveals a strategic shift towards gold for protection, while the euro and renminbi are eyed as alternatives, though not without their own challenges. Central banks are also increasingly embracing AI for operational improvements, adapting to a world of persistent uncertainty.
Stock market recommendations: JSW Energy, Biocon, BHEL, and City Union Bank - these are the top stocks to buy recommended by Somil Mehta, Head of Retail Research at Mirae Asset Sharekhan for June 30, 2026:
China's financial watchdogs are tightening credit standards, prompting investors to re-evaluate their bond holdings for potential downgrades. This move aims to curb the unusually high number of top-rated AAA issuers, a situation exposed by recent corporate defaults. The People's Bank of China is reportedly introducing new metrics, potentially impacting issuers with wider yield spreads. This scrutiny could shake up the domestic bond market and test its recent rally.
Stock market recommendations: TVS Motor Company, and Vijaya Diagnostic Centre are the top stock recommendations by Sudeep Shah, Head - Technical Research and Derivatives, SBI Securities for the June 29-July 3, 2026 week. The analyst has also shared his views on Nifty and Bank Nifty:
Starting July 1, 2026, several financial changes will affect you. Income tax filing deadlines are set, and updating your Aadhaar email becomes free for a period. Expect shifts in SBI Card rewards and HDFC Bank credit card lounge access eligibility. Passport fees are rising, and new RBI rules will protect bank customers from mis-sold financial products, ensuring refunds and compensation.
India's debt market requires urgent structural reforms to fund its ambitious economic growth, warns Deloitte. The report highlights that relying solely on bank deposits is no longer viable as household savings shift. To achieve its $7.3 trillion economy target by 2030, the market needs greater depth, liquidity, and integration to efficiently bridge the rising capital gap and support national economic aspirations.
Kotak Mahindra Bank's CEO, Ashok Vaswani, will not seek reappointment after his term ends December 31, 2026, citing personal reasons. The bank has initiated the process to find a successor. Vaswani, who took charge in January 2024, aims to elevate the bank's standing amidst a period of regulatory review and growth acceleration. The bank recently reported a 13% net profit increase for Q4 FY26.
The sharp rise in inflows follows a series of measures by the government and the Reserve Bank of India. According to reports, this is the highest monthly inflow into sovereign debt by a wide margin. The figure comfortably exceeds the previous record of Rs 22,005 crore recorded in August 2024.
A massive crypto heist, initially linked to North Korea, has unraveled a complex financial web connecting to Iran's central bank. Investigators discovered stolen funds moving through wallets associated with Iran's central bank before reaching CoinEx, a key exchange facilitating Iranian crypto users. This revelation underscores the growing role of digital assets in Iran and the challenges in monitoring cross-border transactions.
India is actively seeking foreign currency inflows by encouraging its diaspora to deposit funds. Banks are now permitted to offer substantial leverage on these special foreign-currency deposits, with potential returns exceeding 6% and leveraged rates above 10%. This initiative aims to bolster foreign exchange reserves amidst global economic uncertainties and has the potential to attract over $80 billion.
Gold price prediction today: A consistent rise in gold prices due to drop in oil prices is being constrained by hawkish outlook from central banks which are signalling a possible rate hike to keep inflationary pressures in check, says Praveen Singh, Head Currencies and Commodities, Mirae Asset ShareKhan.
The Reserve Bank of India actively intervened in the forex market, selling $8.944 billion in April to bolster the rupee. This follows similar actions in March, as the currency faced pressure from global tensions and investor outflows. However, the rupee showed signs of recovery in June, aided by policy measures and easing geopolitical concerns.
Indian stock markets surged on Monday, with the Sensex and Nifty reclaiming key levels. This rebound was fueled by a dip in crude oil prices, substantial foreign fund inflows, and positive developments in US-Iran diplomatic talks. Heavyweights like Reliance and HDFC Bank led the recovery, boosting overall market sentiment and encouraging cautious optimism among investors.
Stock market recommendations: Motilal Oswal Wealth Management Research Desk has picked State Bank of India (SBI), and Bharat Electronics as the top stocks to buy for the week starting June 22, 2026. Target prices and upside targets have been given:
India continues to be the Asian Development Bank's top market for private sector investments. The ADB plans to inject approximately $1 billion in direct financing this year, aligning with India's development goals. This follows a significant $2 billion channeled into India's private sector last year. The bank will maintain this momentum, focusing on green energy, e-mobility, and urban infrastructure, while also boosting trade and supply chain finance.
India's largest asset manager, SBI Mutual Fund, has secured Sebi's nod for its Rs 13,000 crore initial public offering. The upcoming share sale, an offer for sale by existing shareholders State Bank of India and Amundi India Holding, is slated for next month. This listing will bring the country's biggest fund house, managing nearly Rs 12.5 lakh crore in assets, to the stock market amidst robust retail investor interest.
Emirates NBD's significant acquisition of a 60% stake in RBL Bank for Rs 26,015 crore signifies a strategic shift in India-UAE economic ties, moving beyond trade to capital and control. This move positions India as a core growth market for the Dubai-based lender, reflecting historical financial linkages and a desire to deepen the relationship with substantial capital.
Funds linked to Indian clients in Swiss banks saw an 8% decline in 2025, totaling 3.25 billion Swiss francs. Despite an overall drop, direct customer account deposits surged over 50%. This follows a significant rebound in 2024, with the SNB clarifying data doesn't represent black money.
India is in discussions with the World Bank and Asian Development Bank for approximately $2.5 billion in loans to support urban infrastructure and job creation. This move aims to bolster capital for government spending, which has been impacted by rising oil prices and increased subsidy expenditures due to the Middle East conflict.
Top stock market recommendations: Bharat Electronics Ltd (BEL), Canara Bank, and TVS Motor Company - these are the top 3 stocks that Aakash K Hindocha, Vice President - Research, Nuvama Professional Clients Group/Nuvama Wealth Management has recommended.
The National Stock Exchange has filed draft papers for an estimated $2 billion IPO, nearly nine years after its first attempt was halted by the co-location controversy. The offer for sale will see existing shareholders, including Tiger Global and IDBI Bank, divest stakes. This listing marks a significant milestone after Sebi issued a no-objection certificate, removing the final regulatory hurdle.
Gold price prediction today: Gold prices are holding strongly and buying from central banks is likely to continue supporting the yellow metal, says Vedika Narvekar, Research Analyst - Commodities & Currencies, Anand Rathi Shares and Stock Brokers.
