📢 Zuck’s Confession, India’s Export High
Your daily dose of business news
🗞️ Gold Hits Record ₹94,573 as Investors Seek Safety
Gold prices surged to a new all-time high of ₹94,573 per 10 grams in India, as reported by Economic Times. The rally is fueled by rising global uncertainty, Middle East tensions, and speculation around interest rate cuts. With real returns from other asset classes under pressure, gold remains a preferred hedge.
🗞️ KFin Tech Acquires Singapore’s Ascent for $34.68 Million
KFin Technologies has acquired fund administrator Ascent Fund Services to boost its international asset servicing capabilities. The $34.68 million deal strengthens KFin's footprint in Southeast Asia and aligns with its goal to become a leading global financial infrastructure player.
🗞️ India Nudges Mutual Funds Toward PSU Picks in Makeover Push
The Indian government, via DIPAM, is pushing mutual fund houses to recommend PSU stocks, aiming to reshape the narrative around public sector units. The move follows underperformance of state-run firms despite strong fundamentals, and it’s part of a broader effort to modernize public-sector companies and attract private capital.
📌 Expert Opinion: “PSUs are undervalued gems. Strategic communication and capital allocation can re-rate them significantly,” said Ravi Menon, Equity Strategist at WiseInvest.
🗞️ Nvidia Warns of $5.5 Billion Hit from China Export Curbs
Chipmaker Nvidia is bracing for a $5.5 billion revenue impact due to new U.S. government restrictions on exports of AI chips to China. The move blocks sales of the advanced H20 AI chip, a key product designed specifically for the Chinese market following earlier restrictions. The announcement sent shockwaves through the tech industry, causing Nvidia shares to drop over 6% in after-hours trading.
📌 Expert Opinion: “This highlights the fragility of global tech supply chains amid rising geopolitical tension,” said Meera Kaul, Tech Analyst at Silicon Insights.
🗞️ Zuckerberg Once Floated Instagram Spinoff Amid Regulatory Heat
Back in 2018, Meta CEO Mark Zuckerberg considered spinning off Instagram as a separate entity to ease pressure from U.S. regulators. The internal proposal came ahead of major antitrust scrutiny and reflects growing concerns about Meta’s consolidation of digital platforms. Although the spinoff never materialized, it adds context to ongoing investigations into Big Tech monopolies.
🗞️ WTO Forecasts Shrinking Global Trade in 2025
The World Trade Organization (WTO) has slashed its 2025 projection, expecting global merchandise trade to contract by 0.2%. Key reasons include rising tariffs, protectionist policies, and persistent supply chain disruptions. The report warned that trade fragmentation could lead to long-term inefficiencies and slower global GDP growth.
🗞️ U.S. Share in Indian Exports Hits Decade High
The United States accounted for the highest share of Indian exports in over ten years this March, according to a Moneycontrol analysis. Exports to the U.S. rose to $10.14 billion—driven by demand for electronics, pharmaceuticals, and textiles—even as global trade headwinds persisted. This shift underlines India’s growing importance in the U.S.'s China-plus-one sourcing strategy.
🗞️ India to Grow 6.5% in 2025 Despite Global Slowdown: UNCTAD
According to the United Nations Conference on Trade and Development (UNCTAD), India is projected to clock 6.5% GDP growth in 2025—significantly above the global average of 2.3%. The forecast credits India’s resilient domestic demand, lower inflation, and supportive fiscal policy for the optimism.
📊 Market Updates
📈 Sensex: 77,044.29 ▲ +309.40 pts
📈 Nifty 50: 23,437.20 ▲ +108.65 pts
💱 USD/INR: 85.96
🥇 Gold: ₹94,573 per 10g ⬆️
🥈 Silver: ₹95,500 per kg ⬆️
🛢️ Brent Crude: $64.66/barrel ⬇️