_Markets open — regular session_
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📊 *ECONOMY & POLICY*
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🏦 *Retail Inflation Breaches RBI’s 4% Target*
June CPI rose to 4.38% from 3.93% in May, driven by food and personal-care costs — the first breach of the RBI’s target since December 2024.
Rate-cut hopes are off the table; markets are now pricing in a possible RBI hike as soon as the August 5 MPC meeting.
📎 _Read: NewKerala_
https://www.newkerala.com/news/a/retail-inflation-surpasses-rbi-target-438-per-cent-669.htm
🤝 *India-UK Trade Pact Takes Effect Today*
The India-UK CETA comes into force on July 15, giving ~99% of Indian exports zero-duty access to the UK, while UK goods like Scotch whisky and cars get phased tariff cuts.
Textiles, leather, footwear, gems & jewellery and auto components are the biggest beneficiaries — a structural tailwind for India’s UK-facing exporters.
📎 _Read: Republic World (BusinessLine substitute)_
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🏢 *COMPANIES*
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💰 *SBI Funds Management IPO Opens With Marquee Anchors*
India’s largest AMC opened its ₹9,813-cr OFS IPO at a ₹545-574 band, backed by BlackRock, Fidelity and Goldman Sachs AM in the anchor round.
FY26 PAT rose 21% to ₹3,067 cr with a 43% ROE — a rare pure-play AMC listing for investors wanting direct exposure to India’s mutual fund growth story.
📎 _Read: Business Standard_
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🌍 *GLOBAL & WORLD*
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📈 *US Inflation Cools More Than Expected in June*
US CPI eased to 3.5% y/y (vs 3.8% forecast) as energy prices fell sharply, though Fed Chair Warsh signaled “no tolerance” for persistently high inflation.
A softer print trims near-term Fed hike odds — a mild positive for FII risk appetite toward EM assets like India, though renewed Iran-linked oil risk clouds the outlook.
📎 _Read: CNBC (Reuters substitute)_
https://www.cnbc.com/2026/07/14/consumer-price-index-inflation-report-june-2026.html
📉 *China’s Q2 Growth Slows to 4.3%, Misses Forecast*
China’s economy grew 4.3% y/y in Q2 — its slowest pace since Q4 2022 — missing the 4.5% forecast as weak domestic demand and Iran-linked oil costs weighed.
A cooling China strengthens the relative case for India as an EM growth outperformer, though it also signals softer global demand for India’s exports.
📎 _Read: CNN Business (Reuters substitute)_
https://www.cnn.com/2026/07/14/business/china-q2-gdp-export-economy-intl-hnk
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_Compiled by InvestoScope · 15 Jul 2026_