At the 2025 Para-Archery Asian Championships in Beijing, Indian para-archers clinched two golds on Saturday taking total medal tally to seven. The women’s compound team of Sheetal Devi and Jyoti defeated China 148-143 to clinch gold. Harvinder Singh and Bhawna secured another gold in mixed recurve after a dramatic 5-4 shoot-off win.
India also earned three silvers in the men’s recurve open, men’s compound open, and mixed compound open events. Rakesh Kumar won two silvers – in the men’s compound team with Shyam Sundar Swami and in mixed doubles with Jyoti.
India-US trade deal: As the deadline for the 90-day pause on tariffs announced by US President Donald Trump looms, investors have mostly stuck to the sidelines not just in India, but globally. The Indian stock market has entered a consolidation mode amid a lack of clarity, declining 0.7% for the week.
July 9 marks the end of the 90-day suspension period of the Trump tariffs imposed on dozens of countries, including India. An additional import duty of 26% was announced on Indian goods.
As per a PTI report, an official said that the Indian team has returned from Washington after holding talks with the US on an interim trade pact but discussions will continue as certain issues in the agri and auto sectors still need to be resolved. India has raised issues over 25% duty in the auto sector and 50% duty on steel and aluminium goods, according to the reports.
“The Indian equity market is viewing the US–India trade talks with growing optimism, as signals from both sides suggest a deal is within reach. The temporary pause on tariffs by the US and constructive dialogue has boosted confidence that a resolution will emerge before the July 9 deadline,” said Sujan Hajra, Chief Economist & Executive Director, Anand Rathi Group.
The sectors that are likely to gain in case of a favourable trade deal are IT, pharma, auto components, electronics and textile, opined experts.
A breakthrough would be a significant positive for India’s export sectors—particularly IT, pharmaceuticals, and auto components—and could reinforce foreign investor interest in Indian equities, Hajra added.
Meanwhile, Harshal Dasani, Business Head at INVasset PMS believes that textiles, pharmaceuticals, and electronics are likely to see substantial benefits from tariff reductions and improved market access.
However, challenges remain in the agriculture and dairy sectors, which may be impacted by the existing tariff structures, he added.
India’s textile exports to the US, valued at approximately $9.7 billion in 2023, could grow further with favourable trade terms. Similarly, the pharmaceutical sector, which supplies around 31% of its exports to the U.S. (approximately $8 billion), stands to gain significantly from expanded access. The electronics sector has also experienced strong growth, with exports to the US exceeding $6.6 billion in 2023 alone.
“Additionally, the trade deal could enhance foreign direct investment (FDI) inflows, which saw a 14% increase in FY 2024–25, with the services sector being a key recipient. The potential for increased market access and stronger trade ties would position India as a more attractive investment destination,” Dasani added.
What could be the impact of trade deal on Indian market?
A positive trade deal could boost foreign investor confidence further, leading to enhanced capital inflows and a stronger Indian Rupee.
However, on the flip side, if the deal falls short of expectations, short-term market volatility could ensue. “Export-driven sectors, particularly textiles and pharmaceuticals, might face hurdles due to unresolved tariff issues,” Dasani said. He also believes that any geopolitical tensions stemming from the deal’s terms could create uncertainty in global markets, potentially dampening investor sentiment.
Against this backdrop, Nitin Jain, Senior Research Analyst at Bonanza, advised investors to adopt a defensive position, concentrating on domestic-focused industries such as banking and FMCG which are less affected by global fluctuations.
“Investors should exercise caution regarding industries associated with global supply chains, such as metals and capital goods. Utilizing gold-linked ETFs or defensive investments can assist in reducing volatility. A brief correction could present long-term purchasing chances in high-quality Indian stocks, as the economy continues to show fundamental strength,” Jain added.
Disclaimer: This story is for educational purposes only. The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
Rescuers were desperately searching for at least 20 girls missing from a riverside summer camp, officials said Friday, after torrential rains caused a “catastrophic” flash flood that killed at least 24 people as it swept through south-central Texas.
“At this point we’re at about 24 fatalities,” Kerr County Sheriff Larry Leitha told an evening press conference as rescue teams scrambled to locate stranded residents in the region northwest of San Antonio.
Some of the dead were children, Texas Lieutenant Governor Dan Patrick said at a previous news conference.
The county sheriff said there were “kids that are still missing,” adding that between 23 and 25 people were unaccounted for.
Lieutenant Governor Patrick previously said “about 23” girls attending a summer camp in the flooded Kerr County were missing.
They were part of a group of around 750 children at Camp Mystic, a girls summer camp along the banks of the Guadalupe River which rose 26 feet (eight meters) in 45 minutes with heavy rainfall overnight.
The India Meteorological Department (IMD) has forecast heavy to very heavy rainfall over Chhattisgarh, Coastal Karnataka, Gangetic West Bengal, Gujarat, Rajasthan and Himachal Pradesh today.
The Met department predicted similar conditions over Konkan, Goa, Madhya Maharashtra, Madhya Pradesh and Uttarakhand today as well.
Meanwhile, thunderstorm accompanied by lightning and gusty winds is expected over Andaman and Nicobar Islands, Bihar, Gangetic West Bengal, Jharkhand, Odisha, Jammu, Kashmir, Ladakh, Gilgit, Baltistan and Muzaffarabad today.
The IMD said, rainfall accompanied by thunderstorms, gusty winds and lightning is expected over Northwest, Northeast, West, East, Central and Southern Peninsular India over the next seven days. Delhi NCR will experience rainfall accompanied by thunderstorms, gusty winds and lightning from today.
The gain in forex reserves during week ended June 27 was led by an increase in foreign currency assets, which surge by $5.75 billion to $594.82 billion.
The value of gold reserves, however, fell by $1.23 billion to $84.5 billion.
India’s Latest Forex Reserves: India’s foreign exchange reserves rose sharply by $4.84 billion to $702.78 billion in the week ended June 27, bringing them within striking distance of the all-time-high level of $704.89 billion recorded in end-September 2024, according to the latest data released by the Reserve Bank of India (RBI).
This marks a strong rebound from late January levels, when reserves had fallen to a multi-month low of around $624 billion.
The gain was led by an increase in foreign currency assets, while gold reserves declined. The value of gold reserves fell $1.23 billion to $84.5 billion, while foreign currency assets surged by $5.75 billion to $594.82 billion.
Foreign currency assets, expressed in dollar terms, account for the impact of the appreciation or depreciation of other currencies such as the euro, pound, and yen held in the reserves.
Special drawing rights (SDRs) rose by $158 million to $18.83 billion during the week ended June 27. India’s reserve position with the IMF also saw an uptick of $176 million to $4.62 billion, according to the RBI data released on July 4.
Despite the headline rise in reserves, the RBI’s forward dollar book — which represents future dollar obligations — fell by $19 billion in April and May, shrinking to $65.2 billion in May from a record $88.7 billion in February. However, the RBI’s net dollar sales during the same period were relatively modest at $3.2 billion.
The forward book positions matter because they can offset part of the comfort provided by headline reserves, as they reflect future dollar outflows.
The rupee, which has seen increased volatility since April amid global trade tensions, has also been supported by the RBI intervention. The central bank strategically buys dollars when the rupee is strong and sells them when it weakens to smooth out volatility and prevent steep depreciation.
In its last monetary policy statement, RBI Governor Sanjay Malhotra said India’s forex reserves were adequate to cover 11 months of imports and 96% of the country’s external debt, underlining the strength of India’s external position.
A healthy forex buffer not only enhances investor confidence but also supports the rupee amid global headwinds.
In the previous reporting week ended June 20, the forex reserves had dropped by $1.01 billion to $697.93 billion.
Haris is Deputy News Editor (Business) at news18.com. He writes on various issues related to markets, economy and companies. Having a decade of experience in financial journalism, Haris has been previously asso…Read More
Haris is Deputy News Editor (Business) at news18.com. He writes on various issues related to markets, economy and companies. Having a decade of experience in financial journalism, Haris has been previously asso… Read More
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Kolkata: Indian chess looks to be in good hands as the country’s youngsters shone brightly at different world age-group meets this week. While India clinched seven including three gold, two silver and two bronze medals at the World Cadet Chess Cup that concluded in Batumi, Georgia, they ended the Asian Junior and Girls meet in Kalutara, Sri Lanka, with a haul of six medals across classical, rapid and blitz formats in open and girls sections.India got a new World champion when Sarbartho Mani won gold in the U-10 open section in Batumi. India swept the category as Oishik Mondal and Kapil Aarit came second and third respectively.It has been a phenomenal rise for Mani who had previously won gold in Commonwealth and Asian age-group chess too. Mani (1847) recently played alongside his idol Viswanathan Anand, Anna Muzychuk and others to win bronze in rapid for Team Freedom at the World Rapid and Blitz Team Championships in London. The Kolkata boy drew both his classical games against Mondal (1857) in Stage 2 and then went on to win the next two rapid games (15’+2″) each to top the podium while Mondal settled for silver. CM Aarit Kapil (2078), who recently came close to defeating world No. 1 Magnus Carlsen before settling for a draw in the ‘Early Titled Tuesday’ online chess tournament, defeated Iman Nabiyev (Kaz, 1716) twice to bag the bronze medal.WCM Divi Bijesh (1872) defeated WCM Zhihan Chen (Chn, 1785) in both U-10 classical games to clinch the gold while WCM Sharvaanica AS (1884) picked bronze in the section. WCM Pratitee Bordoloi (1971) fetched the third gold in the U-12 girl’s category and Aadya secured the silver.In Sri Lanka, FM Sourath Biswas finished with 7.5 points out of nine to clinch the gold in the open section. IM Kashish Manoj Jain finished with seven points to secure the bronze.In the girl’s section, WIM Velpula Sarayu bagged seven points out of nine to end up with a bronze medal.
Chandigarh: The Punjab and Haryana high court has held that cybercrimes pose a systemic threat to digital trust and economic security, likening their impact to a “silent virus” undermining national progress.“Indeed, cybercrime in our nation operates akin to a silent virus, insidious, disruptive, and exacting a toll on society that extends far beyond mere pecuniary loss, encompassing the bedrock of trust, security, and national progress,” the HC held.Justice Sumeet Goel made these obervations while dismissing the anticipatory bail plea filed by Suhail, 22, in connection with a cyber fraud case registered in the Narnaul area of Mahendragarh district in Haryana.An FIR was registered on Sept 16, 2024, following a complaint filed by Udai Singh, who reported unauthorised withdrawals of Rs 25 lakh from his joint bank account with Punjab National Bank, Narnaul.According to the complaint, multiple fraudulent transactions occurred on Aug 9 and 10, 2024, without the complainant’s knowledge or consent. The funds were allegedly siphoned via RTGS and IMPS transfers. Despite receiving suspicious phone calls purporting to be from bank officials, the complainant initially believed he settled his loan dues, only to later uncover the massive fraud.The police investigation revealed that Rs 10 lakh of the misappropriated amount was traced to a Union Bank account registered in the name of the petitioner. Police submitted that custodial interrogation was crucial to uncovering the wider conspiracy, identifying accomplices, and recovering the siphoned funds.However, the petitioner’s counsel contended that he had no direct role in the transactions and was mentally unfit to manage financial affairs due to a long-standing neurological condition.After hearing all the parties, the HC held that given the inherent nature and profound gravity of such offences and their wide-ranging cascading effects on both society and financial institutions, the court found itself disinclined to grant the relief of anticipatory bail. The material which came on record and preliminary investigation appeared to establish a reasonable basis for the accusations, held the HC while declining bail to the accused.“The deleterious consequences of cybercrimes transcend individual boundaries, imperilling numerous unsuspecting citizens. The gravity of such transgressions cannot, therefore, be understated. They not only jeopardise the financial security and trust reposed by individuals in financial payment gateways and platforms but also inherently expose the broader populace to analogous threats,” observed the judge in its detailed order released on Friday.QUOTE BOX:“The proliferation of online frauds and cybercrimes poses a significant threat, as it systematically erodes public confidence in digital financial transaction platforms. Such erosion runs counter to the aspirations of an advanced and digitally empowered ‘Digital Bharat’ and thus warrants a heightened degree of judicial circumspection,” Justice Sumeet Goel. MSID:: 122249081 413 |
“Tomorrow’s game is not only about us qualifying for the AFC,” Crispin Chettri said on the eve of their crucial winner-takes-all game against twice World Cup-finalists Thailand on Saturday.“It will be massive not only for women’s football but for everyone related to football in India. It will be like a ray of hope,” the Indian women’s head coach told TOI from Chiang Mai, Thailand, on Friday.With the Indian men’s team languishing on last spot in their respective group of the AFC qualifiers, the ongoing uncertainty surrounding Manolo Marquez’s successor at the senior national team’s helm, and the general dismay regarding the future of Indian football among its followers, qualifying for the AFC Women’s Asian Cup Qualifiers 2026 could be a small ray of hope for the country.While the last meeting between the sides ended in a 0-1 defeat for the Indian women at 2023 Asian Games, the Group B clash is billed to be one between equals, given the recent form of the both sides who have amassed the same number of wins, goals, points and an identical goal difference of +22 after three games at the qualifying leg at 700th Anniversary of Chiang Mai Stadium. India have romped to the top of the group with an 11-0 demolition of Mongolia, a 4-0 cruise against Timor Leste and a dominant 5-0 win over Iraq. On the other hand, the world No. 46 Thailand, needing 12 goals over Mongolia to beat Chettri’s team to the coveted ticket to Australia, scored identical 11 goals to make Saturday’s fixture a knockout match. With penalties to play decider if the winner isn’t decided in the 90 minutes, India would like their firepower of Manisha Kalyan, Sangita Basfore, India’s topscorer Pyari Xaxa and tournament revelation Priyadarshini Selladurai to wrap things up in regulation time.Basfore and Anju Tamang are the two players who were part of India’s 2023 Asian Games squad that tasted defeat against Thailand and will be eager to turn things around, especially for teammate Soumya Guguloth, whose injury in the Iraq game will keep her out of the decider.Chettri, however, is impressed with the women’s show so far, especially in the background of limited resources available in their journey, vis-a-vis the men’s team.“As a coach, I am already proud of these players irrespective of the result (on Saturday). The amount of hard work and challenges they have faced to reach here is incredible. For me, in sports, there are no failures. We just keep learning and growing as a team,” he signed off.
Pakistan was the front face. We had China providing all possible support., says top official
India had to deal with three adversaries during Operation Sindoor, with Pakistan being the “front face” and China and Türkiye providing vital support to India’s western neighbour, Lieutenant General Rahul R. Singh, Deputy Chief of Army Staff, said on Friday (July 4, 2025).
Deputy Army Chief Rahul R. Singh speaking at an event organised by FICCI on July 4, 2025. Photo: X/@PTI_News
Lt. Gen. Singh was addressing an event organised by the Federation of Indian Chambers of Commerce and Industry (FICCI) on “New Age Military Technologies”.
Shedding light on the lessons learnt during Operation Sindoor, Lt. Gen. Singh said the conflict emphasised the need for indigenisation of defence technology and a robust air-defence system, while stressing that the country must be prepared for the future.
Lt. Gen. Singh highlighted China’s ancient military essay of 36 Stratagems, which suggests killing the adversary with a “borrowed knife”, to explain China’s plan of causing harm to India through Pakistan. “China would rather use the neighbour to cause pain [to India] than getting involved in mudslinging on the northern border,” he said.
The officer revealed that China’s involvement extended beyond intelligence-sharing, with Pakistan heavily dependent on Chinese military hardware. “If you were to look at statistics in the last five years, 81% of the military hardware that Pakistan gets is from China. In the conflict, China was able to test its weapons against other weapons, so it is like a live lab available to them,” Lt. Gen. Singh said, further highlighting the “important role” played by Turkiye.
Lt. Gen. Singh said the air-defence system helped India during Operation Sindoor as there were “swarms of drones” from across the border. But he noted, “This time, our population centres were not quite addressed, but next time, we need to be prepared for that. We need a robust air-defence system.”
Operation Sindoor also showed the importance of a secure supply chain, he said. “The equipment that was supposed to be received in January has not been delivered yet. We still depend upon a lot of things from outside and if all that equipment were made available, the story may have been a little different,” said Lt. Gen. Singh.
Jane Street Banned in India LIVE updates: SEBI, in its order on July 3, announced banning Jane Street, a US-based trading firm, from accessing the Indian stock market for allegedly manipulating the stock market through positions in India’s booming derivatives trade.
As per a PTI report, this could be the highest disgorgement amount ever directed by the Securities and Exchange Board of India (SEBI).
What is Jane Street?
Jane Street Group was established in 2000 as a global proprietary trading firm in the financial services industry. According to the company’s website, it has more than 3000 employees across five global offices. We trade a broad range of asset classes on more than 200 venues in 45 countries.
What did SEBI order say?
In its interim order, the regulator has debarred JSI Investments, JSI2 Investments Pvt Ltd, Jane Street Singapore Pte Ltd, and Jane Street Asia Trading, entities collectively referred to as the Jane Street Group, from trading until further notice, while continuing its investigation.
The Jane Street Group has come under Sebi’s scrutiny for allegedly manipulating index levels in the stock market to earn illegal profits, primarily through the highly liquid Bank Nifty and Nifty index options segments.
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