Stock Market Rally! Sensex At 7-Month Peak— What’s Driving It? | Govindraj Ethiraj | The Core Report

Описание: On Episode 582 of The Core Report, financial journalist Govindraj Ethiraj talks to Anand Kulkarni, Director at Crisil Ratings.

SHOW NOTES:
(00:00) Stories of the Day
(01:00) Indian stocks hit 7-month high since October, Sensex up 1,200 points in sudden jump.
(02:48) Oil prices slide sharply as the US and Iran engage with each other.
(04:20) Trump tells Apple to pause manufacturing in India
(08:00) India has offered zero tariffs, says Trump, India denies, once again
(08:55) Rural India’s telecom consumption is rising sharply even as urban slows down. What does that mean?

The Markets Are Inching Up:

Indian markets hit their highest levels since October on Thursday, with the expiry of weekly options on the Nifty 50 and dramatic swings through the day. But Thursday was unusual even by recent standards. Then came Donald Trump’s claim that India had offered zero tariffs on US exports—vague and unlikely for sensitive sectors like dairy and agriculture.

Still, markets took it as a positive cue. The Nifty 50 rose 1.6% to 25,062—its highest close since October 14. The Sensex surged 1,200 points to 82,530. Analysts attribute the rally to stabilising earnings and renewed global fund buying after the ceasefire with Pakistan. A Bank of America Securities report also said India has replaced Japan as Asia’s top fund manager pick amid global supply chain shifts.

Broader markets joined in—Nifty Midcap 100 rose 0.7%, Smallcap 100 gained 0.5%.

Oil Prices Slide:

Oil prices fell sharply Thursday on hopes of a US-Iran nuclear deal. Brent was down 4% at $63.67; WTI at $60.64. Trump, speaking in Doha, said the US was close to a deal. An Iranian advisor also said Tehran was ready for an agreement if sanctions were lifted.

OPEC+ may adjust output to manage any impact. The group had recently surprised markets by increasing supply by over 400,000 barrels per day starting June.

No More Apple Manufacturing in India?

Trump told Apple CEO Tim Cook not to manufacture in India—despite India’s offer of zero tariffs on US goods. The comment comes amid rising tensions, including Trump’s claim of mediating an India-Pakistan ceasefire, which India strongly denied.

Trump repeated that India was offering zero tariffs, but didn’t clarify which sectors. Apple had earlier planned to move iPhone production for US markets from China to India.

India is reportedly narrowing its tariff gap with the US from 13% to under 4%. Business Standard noted that India remains more protected than it should be. External Affairs Minister S. Jaishankar clarified trade talks are ongoing, and any agreement must be mutually beneficial. No final deal yet.

Key sectors like dairy and agriculture remain off-limits. A final outcome is expected by July 9, marking the end of the 90-day pause after US tariffs on April 2.

America’s Big Wins in Qatar:

The White House said Trump secured over $243 billion in deals with Qatar—part of a $1.2 trillion economic push. Qatar Airways alone signed a $96 billion deal for 210 Boeing aircraft—the largest-ever wide-body order.

How Rural India’s Telecom Use Is Rising:

Rural India is driving telecom growth. Crisil reports internet penetration rose from 59% to 78% in rural areas between 2019 and end-2024—outpacing urban growth.

Increased use of digital payments, social media, streaming, and e-commerce is behind the rise. Rural users rely heavily on mobile internet. Even after 2024’s tariff hikes, usage remained resilient.

Crisil’s Anand Kulkarni explains what’s driving the shift—and what’s next.

If you found this episode of The Core Report with Govindraj Ethiraj insightful, don’t forget to like, share, and subscribe. Stay updated on India’s stock market rally, Sensex trends, and the economic impact of global events. New episodes daily. Follow us for sharp, data-backed analysis.

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