IC Electricals will launch its NSE SME IPO, comprising an entirely fresh issue of 48.39 lakh equity shares. The IPO will remain open from July 3 to July 7, 2026, with the allotment expected on July 8 and a tentative listing on the NSE SME platform on July 10, 2026.
Brent crude hovered near the $71-a-barrel mark after briefly dipping below that level in the previous session, while US benchmark West Texas Intermediate (WTI) traded around $68 a barrel.
Asian stocks dipped, mirroring a global tech sell-off fueled by concerns that the AI rally has overheated. Investors are questioning sky-high valuations amid rising costs and market competition. Meanwhile, US Treasuries saw yields fall after softer jobs data and lower oil prices eased expectations for further Federal Reserve rate hikes this year, though at least one increase remains priced in.
Indian markets saw a second day of gains, with the Nifty reclaiming its 100-day moving average, signaling a bullish trend. Key companies like Marico, Tata Motors PV, and Adani Enterprises are in focus due to strong Q1 updates and fundraising plans. PNB and Bank of India reported significant credit growth, while HDFC Bank is enhancing its AI and fraud detection capabilities.
US markets closed mixed as weak June jobs data cooled rate hike fears. Nasdaq fell on tech and chip stock declines, while the Dow rose strongly. Tesla slipped despite strong deliveries. Softer payrolls reduced Fed tightening expectations, offering near-term relief, even as inflation concerns tied to oil prices persisted.
Indian markets advanced on easing crude prices and dovish Fed commentary, boosting risk appetite. Analysts recommend buying NDR Auto and Suven Life Sciences after bullish breakouts, while investors await US jobs data, the India–Japan summit and Q1FY27 earnings.
Tata Motors reported a 46% rise in passenger vehicle sales for the June quarter, driven by strong demand and record EV sales. However, Jaguar Land Rover posted lower volumes due to supply disruptions, geopolitical challenges and the planned Jaguar model transition.
In May, US construction spending edged up by a mere 0.1%, influenced by increased mortgage rates partly due to tensions in the Middle East. While there was a slight boost in residential renovations, new single-family housing projects saw a downturn. Additionally, private nonresidential construction faced a decline, whereas state and local public projects thrived, presenting a complex outlook for the sector amid ongoing economic challenges.
The Magnificent Seven are underperforming as investors question whether massive AI spending will generate adequate returns. With $2.3 trillion erased in June, markets are shifting focus from AI hype to profitability, free cash flow and monetisation ahead of earnings.
Market losses deeply affect investors, making them hesitant to reinvest even when opportunities arise. This emotional response, known as loss aversion, can lead to missed gains during recoveries. Francois Rochon emphasizes emotional discipline, urging investors to focus on long-term fundamentals rather than short-term volatility. Building a diversified portfolio and maintaining a patient, long-term outlook are crucial for navigating market fluctuations and achieving wealth creation.
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