The US Federal Reserve kept interest rates unchanged, awaiting clearer inflation signals. Renewed fighting linked to Iran pressures oil prices and clouds economic outlook. Inflation remains above the Fed's target, causing investor concern about potential price increases.
Oil prices surged significantly amid renewed Middle East airstrikes and supply concerns. U.S. crude inventories dropped to a multi-year low, further impacting market sentiment. Military actions in the Strait of Hormuz and surrounding regions contributed to price volatility. Analysts predict oil prices will fluctuate within a broad range in the near term. OPEC+ is expected to maintain current oil output levels for upcoming months.
Jammu and Kashmir Bank reported a 12.6% decline in Q1 net profit to Rs 424 crore due to higher provisions despite improved asset quality. Advances and deposits grew strongly, while net interest margin narrowed, triggering a nearly 13% decline in the bank’s share price.
Star Health reported a twenty-five percent net profit increase for the first quarter. Total income rose to Rs 4,471 crore from Rs 3,990 crore a year ago. Gross written premium increased nineteen percent to Rs 4,287 crore during the quarter. The insurer's underwriting profit surged significantly to Rs 111 crore. Star Health settled nine point six lakh claims with a ninety-one percent retail settlement ratio.
Indian equities rallied sharply as Sensex gained 889 points and Nifty topped 24,250, adding over Rs 4 lakh crore in market value. Strong IIP data, IT and metal buying, bullish technical indicators and improving FII sentiment outweighed geopolitical concerns and higher oil prices.
The US Federal Reserve is expected to keep interest rates unchanged, with markets increasingly pricing in a September hike. Persistent inflation, geopolitical tensions, elevated oil prices and upcoming economic data continue to shape policymakers’ outlook and strengthen the case for tighter monetary policy.
Indian markets rebounded over 1% on strong earnings and IT buying, with Nifty closing at 24,250. Analysts recommended Lloyds Metals and Ashapura Minechem, citing bullish technical breakouts, strong momentum, rising volumes and sustained strength above key moving averages ahead of the US Fed decision.
In FY26, Amazon Web Services India experienced a remarkable increase in its consolidated net profit, soaring over tenfold to reach Rs 242.8 crore, while consolidated revenue from operations also experienced a growth of about 21 percent, hitting Rs 20,225.6 crore. However, the standalone net profit faced a downturn of approximately 14 percent, despite a standalone revenue increase of 21.4 percent, totaling Rs 20,225.6 crore.
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