Indian investors will track Finance Minister Nirmala Sitharaman’s comments on equity taxation amid foreign fund outflows, while the sharp fall in crud…
1/7Equity taxation | Union Finance Minister Nirmala Sitharaman has said the government will consider concerns over equity taxation amid foreign investment outflows, while calling for an amicable settlement of the ongoing dispute within the Tata Group. Speaking at the Financial Express Leadership Awards, Sitharaman said the taxation structure had remained unchanged even when foreign inflows were at record highs in 2023, but acknowledged that circumstances had since changed.
(Photo Credit : File Photo)
2/7Second Quarter Results | Several major companies are scheduled to announce their quarterly results on Tuesday. State Bank of India (SBI), Bajaj Finserv, Lupin and Multi Commodity Exchange of India (MCX) are among the key companies set to report their earnings.
3/7US Midterm Elections | The US midterm elections are scheduled to take place on Tuesday. The outcome could reshape the relationship between Washington and some of the country’s biggest companies, particularly those dependent on government contracts, federal spending or regulatory decisions. A Democratic victory in either or both chambers of Congress could give the party greater power to scrutinise corporate activities, challenge government expenditure and push for legislative changes.
4/7US Economic Data | The US economic data calendar on Tuesday will include the Philadelphia Fed non-manufacturing survey, scheduled for release at 6:00 PM IST, followed by the Richmond Fed surveys at 7:30 PM IST. The JOLTS (Job Openings and Labour Turnover Survey) data on job openings is due at 11:30 PM IST.
5/7US Markets | US equities extended their gains on Monday, with the three major indices posting solid advances as a steep drop in oil prices lifted investor sentiment and technology stocks recovered. Market participants also geared up for a busy week of corporate earnings and the upcoming US midterm elections. The Dow Jones Industrial Average surged 574 points, or 1.1%, while the S&P 500 climbed 1%. The Nasdaq Composite outperformed, rising 1.3%.
6/7Crude oil | Oil and natural gas slumped the most in roughly three months after Washington and Tehran signalled openness to talks to resolve the months-long conflict roiling Middle East energy supplies. West Texas Intermediate futures slid more than 7% to trade near $97 a barrel after Iran’s supreme leader approved the government’s pursuit of negotiations, state-run IRNA reported.
7/7US-Iran war | US Secretary of State Marco Rubio said President Donald Trump had not yet decided on further military action against Iran and that Washington preferred a peaceful resolution. Iranian state media also reported that Tehran’s foreign minister had said a deal with the US was possible if Washington demonstrated goodwill.