_Markets closed today — weekend. Coverage below reflects Friday’s (03 Jul) session and after-hours developments._
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📊 *ECONOMY & POLICY*
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📉 *Services growth slips to 17-month low*
HSBC India Services PMI eased to 57.4 in June from 59.8 in May as domestic demand and hiring cooled, per S&P Global.
Composite PMI also slid to a five-month low — a soft-landing signal worth watching into Q1 earnings season.
📎 _Read: The Hindu BusinessLine_
🏦 *RBI’s new collateral rules squeeze prop desks*
Mandatory 100% collateral on bank guarantees from July 1 raises funding costs for proprietary trading firms.
Watch for reduced liquidity and volumes in derivatives if smaller prop shops scale back.
📎 _Read: Economic Times_
🤝 *India allows 4 China-linked power equipment makers to bid*
TBEA, Nanjing Electric, New Northeast Electric and Taikai Electric (all with India factories) can now compete for government power tenders.
A modest thaw in India-China trade friction, timed to India’s transmission capex push.
📎 _Read: Business Standard_
📈 *India on track for $1 trillion exports in FY27: Goyal*
Merchandise exports seen up 16-17% to $530bn, services up 11-12% to $470bn, per the Commerce Minister.
A bullish medium-term signal for exporters, though execution hinges on the pending US and UK FTAs.
📎 _Read: The Hindu BusinessLine_
🏦 *RBI flags cryptocurrency as a threat to the economy*
Central bank told a parliamentary panel that digital currencies pose misuse and stability risks.
Reinforces RBI’s cautious stance — don’t expect a regulatory thaw for crypto exchanges soon.
📎 _Read: NDTV Profit_
💰 *India’s private credit market seen doubling to $50bn by 2030*
Corporate funding gaps and bank lending limits are fuelling non-bank credit growth, led by real estate and infra.
A structural tailwind for NBFCs and alternative asset managers positioning in private debt.
📎 _Read: Economic Times_
🤝 *India-New Zealand FTA to be implemented later this year*
One of India’s fastest-negotiated trade pacts, concluded December 2025, is now moving toward formal rollout.
Incremental positive for dairy-sensitive sectors and NZ-facing exporters once tariff lines are finalised.
📎 _Read: The Hindu BusinessLine_
💡 *Centre clarifies E20 ethanol programme is not an “experiment”*
Law officer’s Supreme Court remarks were misreported; SC has held allocation status quo for FY26 while transfer petitions are filed.
Reduces near-term litigation risk for OMCs and dedicated ethanol plants tied to blending contracts.
📎 _Read: NDTV Profit_
🛣️ *Kerala explores ₹60,000 crore high-speed rail, part-funded by crowdfunding*
E. Sreedharan’s proposal to CM Satheesan would source 40% of costs from the public, echoing the Cochin Airport model.
Early-stage, but a potential large domestic rail-equipment order pipeline if it clears approvals.
📎 _Read: Business Standard_
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🏢 *COMPANIES*
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💻 *IT firms’ AI hiring up 16% even as overall tech jobs shrink 3%*
Naukri’s JobSpeak report shows AI roles bucking the broader IT hiring slowdown in June.
Confirms the sector’s pivot to specialised, higher-value talent over volume hiring — margin-supportive for IT majors.
📎 _Read: NDTV Profit_
🔋 *Adani’s $11.5bn aluminium foray backed by low-cost energy: Karan Adani*
Adani Enterprises and IHC will each fund half the project cost as the group diversifies into energy-intensive metals.
A long-gestation bet, but one that leans on Adani’s existing power-cost advantage.
📎 _Read: The Hindu BusinessLine_
🤝 *Maruti Suzuki’s fourth plant inaugurated by PM Modi, Japan PM Takaichi*
Virtual inauguration coincided with the India-Japan Joint Economic Forum, underscoring deepening auto-sector ties.
Adds capacity as Maruti races to defend market share against rising EV and two-wheeler competition.
📎 _Read: NDTV Profit_
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🌍 *GLOBAL & WORLD*
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💻 *Microsoft doubles down on AI: 6,000 staff, $2.5bn new “Frontier” unit*
The new division embeds staff directly with enterprise clients to accelerate AI adoption.
Worth watching for Indian IT majors — signals where large clients may redirect enterprise-AI spend.
📎 _Read: NDTV Profit_
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_Compiled by InvestoScope · 04 Jul 2026_