1. Assam Minister Pijush Hazarika condemned threats to besiege Lakhimpur Police Station on July 6.
2. Hazarika highlighted Mufti Makibar Rehman’s threats in a Facebook live session.
3. The individual’s actions were criticized for threatening public order in Assam.
Stock Market, July 03: All 13 major sectors recorded gains, with banks, financials, and private banks seeing increases of 1.3%-1.5%, driven largely by HDFC Bank.
Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services, commented, “Today’s market activity will focus on HDFC Bank, which is expected to continue its upward movement due to news of a potential increase in its weightage in the MSCI Index. The delivery-based buying seen in recent days is likely to persist, further boosting the stock and adding resilience.”
Also Read: Assam: Naharkatia Villages Devastated as Burhidihing River Overflows
He added, “As HDFC Bank’s weightage in Nifty increases, there will be more delivery-based buying by ETFs and active funds. This could have a marginal negative impact on other high-weightage stocks in the Nifty, such as RIL, TCS, Infosys, and ICICI Bank.”
Vijayakumar also noted, “The latest comments from the Fed on US inflation are positive news for global equity markets. Responding to an inflation print of 2.6% with no month-on-month increase, Fed chief Powell made a dovish remark indicating the US is on a disinflationary path. The Fed’s next rate action is likely to be a rate cut, and the RBI is also expected to follow suit with a rate cut in the next policy meeting.”
