Commodity cycles rotate and the baton is passing. Precious Metals rallied first with Gold delivering >60% and Silver >140% returns in 2025, meanwhile, Copper was also up 40% in 2025 but still trades at multi-decade lows vs. both Gold and Silver. That gap matters because Copper’s demand drivers, e.g., Power grids, AI, data centres, EVs, […]
Traditionally, Indian infrastructure relied on bank finance, which limited funding options. To fix this, the 2014 Union Budget introduced InvITs, with SEBI setting the official rules later that year. This created a new way for projects to get long-term investment beyond just bank borrowing. An InvIT is a collective investment vehicle that pools capital to […]
Global equity benchmarks have become unusually dependent on a single theme: “AI”. The Mag-7 is currently ~35% of the S&P 500, TSMC is ~58% of MSCI Taiwan, and Samsung Electronics plus SK Hynix make up more than 50% of MSCI Korea, with the same names dominating MSCI EM and MSCI Asia (ex-Japan) indices. Earnings momentum […]
RBI’s Open Market Operations (OMOs), often described as a simple liquidity tool, took on a much bigger role in FY26: against the Centre’s gross borrowing of about ₹14.6 lakh crore, RBI’s OMO purchases absorbed a large part of the supply, helping keep bond market conditions orderly and yields from rising too sharply. This note explains […]
The INR has depreciated by around 8% since the start of 2025 to ₹93/$, emerging as Asia’s worst-performing major currency since 2025, driven by ~$38 billion in FPI outflows, US tariffs and a widening current account deficit (CAD). The RBI responded aggressively intervening across both the spot and NDF markets, and imposing restrictions on offshore […]
On Apr 08, 2026, RBI’s Monetary Policy Committee (MPC) took following policy decisions: The RBI’s MPC voted unanimously to keep the repo rate unchanged at 5.25%. The MPC also decided to continue with the neutral monetary policy stance . Executive summary of RBI’s press releases/ press conference: Global Economy: Global growth is facing increasing downside […]
2024 HDFC TRU