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Rupee gains 15 paise to 95.28

The Indian rupee strengthened by 15 paise to 95.28 against the US dollar in early trade on Tuesday, supported by a weaker greenback in global markets, easing crude oil prices and positive sentiment in domestic equities.

Forex traders said the local currency benefited from a decline in the US dollar index after investors turned cautious ahead of key economic data and central bank commentary. Softer crude oil prices also boosted sentiment, as lower energy costs are favourable for India, one of the world’s largest crude importers.

The rupee opened on a firm note and extended its gains during the morning session, recovering from losses recorded in the previous trading session. A positive opening in the domestic stock market further supported the currency, with the Sensex rising more than 300 points and the Nifty trading above the 24,500 mark. Improved risk appetite among investors also encouraged buying in emerging market currencies.

Market participants noted that sustained foreign institutional investor (FII) inflows into Indian equities continued to provide underlying support to the rupee. However, they cautioned that persistent demand for dollars from importers and uncertainty surrounding global trade developments could limit further appreciation in the near term.

The dollar index, which measures the US currency against a basket of major global currencies, remained under pressure, making emerging market currencies relatively more attractive. Meanwhile, Brent crude prices traded lower, easing concerns over inflation and India’s import bill.

Currency analysts expect the rupee to remain range-bound in the coming sessions as investors await fresh cues from global economic indicators and monetary policy signals from major central banks. Any sharp movement in crude oil prices, overseas fund flows or geopolitical developments could influence the currency’s direction.

Also Read: Gold ₹1.46 lakh, Silver ₹2.33 lakh ease today

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Gold ₹1.46 lakh, Silver ₹2.33 lakh ease today

Gold and silver prices edged lower across India on Tuesday, offering slight relief to jewellery buyers after recent volatility in the bullion market. Softer international prices, coupled with a stronger US dollar and rising Treasury yields, weighed on sentiment, keeping domestic bullion rates under pressure.

According to the latest retail rates, 24-carat gold in Delhi was priced at ₹1,46,160 per 10 grams, while 22-carat gold stood at ₹1,33,980. In Mumbai, 24-carat gold was retailing at ₹1,46,410, with 22-carat gold at ₹1,34,209. Kolkata reported 24-carat gold at ₹1,46,210 and 22-carat gold at ₹1,34,026. Chennai recorded the highest among major metros, with 24-carat gold at ₹1,46,720 and 22-carat gold at ₹1,34,493 per 10 grams.

Silver prices also softened. The 999-purity metal was quoted at ₹2,33,100 per kg in Delhi, ₹2,33,500 in Mumbai, ₹2,33,190 in Kolkata and ₹2,33,700 in Chennai. The decline reflected weakness in international precious metal markets as investors turned cautious ahead of key US Federal Reserve policy signals.

On the futures market, MCX gold traded about 0.52% lower at ₹1,46,640 per 10 grams, while MCX silver futures fell around 1.3% to ₹2,33,340 per kg during morning trade. Analysts attributed the decline to a stronger dollar, which makes gold more expensive for overseas buyers, and higher US bond yields that reduce the appeal of non-interest-bearing assets such as gold.

Also Read: Sensex climbs 300 points, Nifty trades above 24,500

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Sensex gains 521 points, Nifty tops 24,400

Indian benchmark indices extended their winning streak for a fourth straight session on Monday, supported by strong buying in banking stocks and positive investor sentiment. The BSE Sensex climbed 521.16 points to close at 78,285.07, while the NSE Nifty50 gained 159.50 points to settle at 24,430.35, crossing the 24,400 mark for the first time in nearly 10 weeks.

Banking stocks led the rally after several private lenders reported healthy business updates for the April-June quarter. HDFC Bank, Axis Bank, IndusInd Bank and Bandhan Bank were among the top gainers after reporting steady loan and deposit growth. Realty and metal stocks also witnessed strong buying, adding to the market’s momentum.

On the other hand, Kotak Mahindra Bank emerged as one of the top losers after its quarterly business update fell short of market expectations. Information technology stocks also remained under pressure as investors stayed cautious ahead of the upcoming earnings season.

The broader market remained positive as easing crude oil prices, a favourable monsoon and renewed buying by foreign institutional investors (FIIs) boosted confidence. Analysts said these factors have improved expectations for inflation and economic growth, encouraging investors to increase their exposure to equities.

Among the sectoral indices, Bank Nifty outperformed the broader market, while the realty index also posted strong gains. Stocks such as Godrej Properties, Oberoi Realty and Lodha Developers advanced sharply during the session.

Also Read: Standard Chartered trims India branches

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Standard Chartered trims India branches

Standard Chartered has reduced its branch network in India from nearly 100 to 80 over the past year as it sharpens its focus on wealth management and premium banking services. The move is part of the bank’s plan to serve affluent customers more effectively while strengthening its advisory-led business.

The bank has closed or merged branches located close to each other to improve efficiency. However, it has retained the branch licences, allowing it to reopen them in other locations if required. Despite the reduction, Standard Chartered still has one of the largest branch networks among foreign banks operating in India.

As part of its growth strategy, the bank plans to increase the number of priority banking centres from 20 to around 30 by the end of 2026. It is also investing in larger wealth centres, digital banking services and additional relationship managers to provide better support to high-net-worth customers.

The latest move follows a series of changes in the bank’s retail business. Last year, it sold its personal loan portfolio to Kotak Mahindra Bank. Earlier this year, it also agreed to transfer around 4.5 lakh credit card accounts to Federal Bank while continuing to serve customers who have wider banking relationships with Standard Chartered.

Also Read: OPEC+ approves higher August oil output increase

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OPEC+ approves higher August oil output increase

The OPEC and its allies, collectively known as OPEC+, have agreed to increase oil production in August as the group looks to balance global supply with growing demand and ease concerns over market stability.

The alliance approved an output increase of 548,000 barrels per day (bpd) for August, continuing its gradual rollback of earlier production cuts. The decision comes after oil markets showed signs of stability following the reopening of the Strait of Hormuz, a critical shipping route for global crude exports, after recent geopolitical tensions in the region.

The production hike is expected to improve crude oil availability in international markets and help meet seasonal demand, particularly during the summer months when fuel consumption typically rises. OPEC+ said the move reflects healthy market fundamentals and aims to maintain a balanced oil market while ensuring reliable energy supplies.

Global oil prices have experienced significant volatility in recent weeks due to geopolitical uncertainties, supply disruptions and changing demand expectations. The easing of tensions in the Middle East has helped calm investor concerns, allowing producers to proceed with a planned increase in output.

Energy analysts believe the additional supply could help moderate crude prices if demand remains steady. However, they caution that prices will continue to depend on global economic growth, inflation trends and developments in major consuming countries such as the United States, China and India.

For India, one of the world’s largest crude oil importers, higher production from OPEC+ could provide some relief by supporting stable oil prices and reducing pressure on import costs. Lower or stable crude prices can also help contain inflation and benefit sectors such as transportation, manufacturing and aviation.

The latest decision highlights OPEC+’s continued efforts to carefully manage global oil supplies while responding to changing market conditions. The producer group has indicated it will continue monitoring demand, inventories and geopolitical developments before deciding on future production levels.

Also Read: Kerala moves SEBI over Vizhinjam port stake sale

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Kerala moves SEBI over Vizhinjam port stake sale

The Kerala government has approached the Securities and Exchange Board of India (SEBI) over the proposed transfer of Adani Ports and Special Economic Zone‘s stake in the Vizhinjam International Seaport project.

Chief Minister Pinarayi Vijayan has sought regulatory clarity on whether the transaction complies with the concession agreement signed with the state. The government maintains that the move is aimed at safeguarding Kerala’s interests and ensuring contractual obligations are upheld.

While the issue has sparked political debate, industry observers believe the dispute is unlikely to significantly impact the port’s ongoing operations or future expansion plans.

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Sanand emerges with ₹7,600-cr chip plant

Prime Minister Narendra Modi on Sunday inaugurated the commercial production of CG Semi’s ₹7,600-crore Outsourced Semiconductor Assembly and Test (OSAT) facility in Sanand, Gujarat, marking a major step in India’s efforts to become a global semiconductor manufacturing hub.

The advanced facility will undertake semiconductor assembly, packaging and testing—critical stages before chips are integrated into products such as smartphones, electric vehicles, consumer electronics, telecom equipment and industrial devices. The launch is expected to strengthen India’s semiconductor supply chain and reduce dependence on overseas packaging and testing services.

Addressing the gathering, Prime Minister Modi said the inauguration marks another milestone in India’s journey towards self-reliance in advanced technology. He highlighted that Sanand has now achieved a “semiconductor hat-trick”, with three major chip-related projects coming up in the region, reinforcing Gujarat’s position as a preferred destination for high-tech manufacturing investments.

The Prime Minister said the facility reflects growing confidence among global and domestic companies in India’s semiconductor ecosystem. He added that the Centre’s semiconductor policy, coupled with world-class infrastructure and skilled talent, is attracting large investments into the country.

The state-of-the-art OSAT plant is equipped with advanced manufacturing technologies and is expected to produce high-quality semiconductor packages for both domestic and international markets. Besides strengthening India’s electronics manufacturing capabilities, the project is expected to create thousands of direct and indirect employment opportunities and support the growth of ancillary industries, including logistics, precision engineering and component manufacturing.

With commercial production now underway, the Sanand facility is expected to play a key role in meeting the rising demand for semiconductor components across sectors such as automotive, artificial intelligence, consumer electronics and telecommunications.

Also Read: Gold holds at ₹1,47,830, Silver near ₹2,37,250

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Centre summons Meta over Instagram Ads

The Centre has summoned Meta after reports alleged that advertisements promoting child sexual abuse material appeared on Instagram, raising serious concerns over the platform’s content moderation and advertising systems.

The action follows directions from Union IT Minister Ashwini Vaishnaw, who sought an immediate explanation from the company after reports highlighted the presence of disturbing advertisements. Officials have asked Meta to clarify how such content was allowed to appear on one of the country’s most widely used social media platforms and what steps are being taken to prevent similar incidents.

The government is expected to seek details on Instagram’s ad review process, safeguards for minors and the mechanisms used to detect and block illegal or harmful content before it reaches users. Authorities are also likely to examine whether existing compliance measures under India’s digital regulations were followed.

The incident has once again put the spotlight on the responsibility of major technology companies to monitor content and ensure that their platforms are not misused for criminal activities. Child safety advocates have long argued that social media firms must strengthen automated detection systems while improving human oversight to quickly identify and remove exploitative material.

Meta has previously stated that it maintains strict policies against child sexual exploitation and works with law enforcement agencies and child protection organisations to detect, report and remove such content. The company uses artificial intelligence, automated tools and human reviewers to identify policy violations and take action against offending accounts.

The latest controversy has renewed calls for stronger moderation and greater accountability from digital platforms, particularly as online advertising systems become increasingly automated. Experts believe companies must continuously improve their safeguards to prevent harmful material from slipping through moderation processes.

Also Read: Maersk orders 1,000 India-made containers from DCM Shriram

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Maersk orders 1,000 India-made containers from DCM Shriram

Global shipping giant Maersk has placed an order for 1,000 Made-in-India shipping containers with the DCM Shriram Group, marking a major boost for the country’s efforts to build a strong domestic maritime manufacturing ecosystem.

The order comes soon after the launch of India’s first locally manufactured export-import (EXIM) shipping container, signalling growing international confidence in the country’s ability to produce world-class logistics equipment. The containers will be manufactured at DCM Shriram’s facility using global quality and safety standards required for international shipping.

For years, India has relied heavily on imported containers to support its export and import trade. The latest order is expected to reduce that dependence while helping establish a domestic manufacturing base capable of serving both Indian and overseas markets.

Maersk’s decision is being viewed as a significant endorsement of Indian manufacturing. The company has worked closely with DCM Shriram, providing technical guidance to ensure the containers meet international operational and durability standards. The partnership is expected to pave the way for more collaborations between global shipping companies and Indian manufacturers.

Officials say the project is an important milestone for India’s maritime sector and demonstrates the country’s growing capability to manufacture products that meet global benchmarks. It also reflects increasing confidence among multinational companies in India’s industrial capacity.

The initiative aligns with the government’s focus on promoting domestic manufacturing and improving self-reliance in critical infrastructure. A stronger local container manufacturing industry could help exporters by improving availability, reducing supply disruptions and lowering logistics costs over time.

Also Read: UAE oil exports rebound despite Gulf tensions

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UAE oil exports rebound despite Gulf tensions

Oil exports from the Gulf staged a strong comeback in June, offering relief to global energy markets after weeks of concern over possible supply disruptions caused by tensions in the Middle East.

The biggest boost came from the United Arab Emirates, whose crude exports climbed back to pre-conflict levels. The sharp recovery helped lift overall Gulf oil shipments and reassured buyers that supplies from one of the world’s most important energy-producing regions remain steady despite the uncertain security situation.

Much of the increase was driven by the UAE’s ability to route crude through the Abu Dhabi Crude Oil Pipeline to the Fujairah terminal on the Gulf of Oman. Unlike traditional shipping routes, this pipeline allows oil to bypass the Strait of Hormuz, reducing the risk of delays in one of the world’s busiest and most strategically sensitive waterways.

The return to normal export levels comes after fears that regional tensions could disrupt tanker movements and tighten global oil supplies. Instead, producers found ways to keep crude flowing, helping prevent the kind of supply shock many traders had feared.

The rise in exports has brought some comfort to countries that depend heavily on Gulf oil imports. It has also eased pressure on international oil markets, where prices often react sharply to geopolitical developments in the region.

However, analysts caution that the situation remains fragile. Any fresh escalation in the Middle East could once again affect shipping routes, increase transportation costs and create uncertainty over future supplies. The Strait of Hormuz continues to handle a large share of the world’s seaborne crude exports, making it a critical gateway for global energy trade.

For now, the latest figures highlight the resilience of Gulf producers and the growing importance of alternative export routes. The UAE’s ability to maintain record shipments despite regional uncertainty has strengthened confidence in its energy infrastructure and its role as a dependable supplier.

Also Read: Indra Nooyi’s CEO remark sparks row