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Japanese stocks experienced a surge in foreign investment, reaching a high of 1.16 trillion yen, fueled by expectations of a U.S. rate cut and strong domestic economic data. The Nikkei 225 Index hit a record high, although technology stocks later declined.

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The rupee strengthened to 86.93 against the US dollar, buoyed by positive domestic equities and increased risk appetite amid hopes for peace talks between Russia and Ukraine. Investors are closely monitoring geopolitical developments and the US Federal Reserve s stance on interest rates.

Market expert Sunil Subramaniam believes that Goods and Services Tax (GST) acts as a growth trigger. It will give Foreign Institutional Investors (FIIs) confidence to invest in India. He also highlights the importance of S&P s upgrade of India s rating. Subramaniam notes inconsistent FII support, with selling observed in July and August.

The MPC minutes reveal a cautious stance, with some members acknowledging room for an August rate cut, while Governor Malhotra highlighted external growth challenges. Uncertainty surrounding trade policies and the impact of past easing measures influenced the decision to maintain the status quo. Members opted to wait and assess the full transmission of previous policy actions before considering further cuts.

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The Reserve Bank of India is transitioning towards principles- and outcome-based regulations to offer operational flexibility to regulated entities. While this approach fosters innovation, the RBI acknowledges the importance of rule-based frameworks, particularly for consumer protection. The central bank is also exploring behavioural economics to enhance consumer outcomes and improve regulatory efficiency.

Indian microfinance companies are focusing on cleaning up their balance sheets. They are writing off bad loans earlier to improve their financial health. CreditAccess Grameen, Fusion Finance, and Muthoot Microfin are among the companies adopting this strategy. Fusion Finance has even revised its write-off policy.

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Federal Reserve policymakers debated interest rate decisions last month, with some dissenting against holding rates steady due to concerns about a weakening job market. Subsequent labor data validated these concerns, showing fewer jobs created and a rise in unemployment. However, recent inflation data has complicated the outlook, leading to ongoing discussions about tariffs impact and the appropriate policy stance.

UltraTech Cement plans to sell up to 6.49% stake in India Cements through an offer for sale on August 21-22, aiming to reduce its holding to 75% to comply with SEBI norms. The floor price is set at ₹368 per share, potentially raising nearly ₹740 crore. UltraTech acquired India Cements in 2024 and is expanding its production capacity.

The Reserve Bank of India (RBI) has proposed new Counterparty Credit Risk (CCR) norms for banks acting as clearing members in equity and commodity derivatives exchanges. These draft norms, aligning with global Basel standards, introduce higher risk weights for longer-tenor and more volatile instruments.

Ashok Boob and Krishnakumar Boob, promoters of Clean Science and Technology, are planning to sell a 24% stake in the company through a block deal on exchanges this Thursday. The deal, brokered by JP Morgan India, involves the sale of 2.55 crore shares and could fetch over ₹2,626.5 crore. The floor price is set at ₹1,030 per share, a 12.

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