Countdown to homecoming: Shubhanshu Shukla, Axiom-4 mission crew to return to earth; Dragon spacecraft undocks from ISS
The Axiom-4 mission, featuring Group Captain Shubhanshu Shukla, is set to undock from the International Space Station.
According to CNN-News18, the Dragon spacecraft has successfully undocked from the International Space Station and it will splash down 22 hours after of undocking.
His mother, Asha Shukla, told ANI, “It feels good, we are all very happy. We prayed that they all come back safely. We are very excited to meet our son after 18-20 days. We are very proud of our son.”
Centre tells SC blood money only option to save Kerala nurse in Yemen; Air India CEO says no mechanical fault in AI-171 crash
The Centre told the Supreme Court that the only recourse in Kerala nurse Nimisha Priya’s death sentence in Yemen is a “blood money settlement” as diplomatic options remain limited. Air India CEO Campbell Wilson addressed the preliminary crash probe into AI-171, stating there were no mechanical issues with the aircraft. Indian astronaut Shubhanshu Shukla undocked from the ISS aboard the Axiom-4 mission, with splashdown set for July 15. Meanwhile, the Supreme Court urged self-regulation on social media, stressing the public must value free speech amid rising divisive content. In Maharashtra, MNS chief Raj Thackeray faces a complaint over hate speech that allegedly incited violence and social unrest. Here are today’s top developments at a glance. ‘Only option is blood money settlement’: Centre tells SC on Kerala nurse’s execution in YemenThe Center informed the Supreme Court on Monday that it has little authority to interfere in the case of Nimisha Priya, an Indian nurse from Kerala who faces execution in Yemen for murder, calling it a “very complex issue” with few diplomatic levers at its disposal. “There’s no way we can know what’s happening [in Yemen],” the Attorney General of India (AGI) stated while appearing before a bench led by Justice Sandeep Mehta. He went on to say that the administration is attempting to postpone Priya’s execution while talks are ongoing and is in communication with Yemeni officials, particularly the public prosecutor. Read more‘No mechanical issues’: Air India CEO reacts to AAIB crash probe reportAir India MD & CEO Campbell Wilson stated that the preliminary investigation into the June 12 AI 171 incident has “provided both greater clarity and opened additional questions” in a memo to staff on Monday. According to the preliminary report, all required maintenance activities had been finished, and there were no mechanical or maintenance problems with the aircraft or engines. The takeoff roll was regular, and there was no problem with the fuel quality. It states that there were no observations regarding the pilots’ medical condition and that they had passed their required pre-flight breathalyzer. Read moreShubhanshu Shukla, Axiom-4 crew undocks from ISS; splashdown scheduled for July 15Group Captain Shubhanshu Shukla and three other astronauts were on board the Axiom-4 (Ax-4) mission when it undocked from the ISS on July 14 at approximately 4:45 pm IST. Their return trip to Earth on SpaceX’s Dragon spaceship “Grace” began with the undocking. The Indian Space Research Organization (Isro) trained Shubhanshu Shukla, who became the first Indian to fly privately to the International Space Station (ISS). As part of the mission, the Ax-4 crew carried out a number of outreach and research activities during their 18-day stay aboard the orbital outpost. On July 15, the crew is scheduled to splash down on Earth at around 3:00 p.m. IST, with an hour’s leeway. Read more‘Citizens must know value of free speech’: SC flags divisive social media content; urges self-regulationThe Supreme Court said Monday that citizens need to value freedom of speech and expression and advocate for self-regulation as it pondered rules to control offensive posts on social media. The case of Wazahat Khan, who is facing numerous FIRs in various states, including West Bengal, for his controversial posts on X that target a Hindu deity, was being heard by a bench of Justices B V Nagarathna and K V Viswanathan. Read more‘Don’t record video while beating’: Complaint against Raj Thackeray for hate speechRaj Thackeray, the leader of the Maharashtra Navnirman Sena (MNS), has been the target of a complaint due to a controversial statement he made in a recent public speech. The lawsuit alleges that the MNS chief’s divisive remarks encouraged vigilantism and societal unrest and calls for action against him under the National Security Act (NSA). Raj Thackeray stated in his address that while everyone residing in Maharashtra, including Gujaratis, should know Marathi, there was no justification for assaulting those who didn’t speak the language. Read more
External Affairs Minister S Jaishankar met Chinese Foreign Minister Wang Yi in Beijing, emphasizing India’s zero-tolerance approach against terrorism.
EAM S Jaishankar and Chinese foreign minister Wang Yi (File Photo: S Jaishankar/X)
External Affairs Minister S Jaishankar on Monday met Chinese Foreign Minister Wang Yi in Beijing, where he highlighted India’s zero-tolerance approach against terrorism.
Jaishankar, who is visiting China to attend a conclave of the Shanghai Cooperation Organisation (SCO) in the Chinese city of Tianjin, said “stable and constructive” ties between the two nations would benefit the world.
“Our meeting today will also include an exchange of views on global and regional issues. Tomorrow, we will be meeting in the format of the SCO, whose primary mandate is to combat terrorism, separatism and extremism. This is a shared concern and India hopes that zero tolerance for terrorism will be strongly upheld,” he said in his opening remarks during the meeting with Wang.
It is Jaishankar’s first visit to China after the ties between the two countries came under severe strain following the 2020 military standoff along the Line of Actual Control (LAC) in eastern Ladakh.
Jaishankar also pointed out the good progress made in the past nine months for the normalisation of the bilateral relations.
“It is a result of the resolution of friction along the border and our ability to maintain peace and tranquility there. This is the fundamental basis for mutual strategic trust and for smooth development of bilateral relations. It is now incumbent on us to address other aspects related to the border, including de-escalation… We have also earlier agreed that differences should not become disputes, nor should competition ever become conflict. On this foundation, we can now continue to develop our ties along a positive trajectory,” he said.
Jaishankar’s China Visit Significance
Jaishankar’s visit is taking place less than three weeks after Defence Minister Rajnath Singh travelled to the Chinese port city of Qingdao to participate in the SCO defence ministers’ conference.
China is the current chair of the SCO and it is hosting the meetings of the grouping in that capacity.
India-China Military Face-off
The military standoff in eastern Ladakh began in May 2020, and a deadly clash at the Galwan Valley in June that year resulted in a severe strain in ties between the two neighbours.
The face-off effectively ended following completion of the disengagement process from the last two friction points of Demchok and Depsang under an agreement finalised on October 21 last year.
The decision to revive various dialogue mechanisms was taken at a meeting between Prime Minister Narendra Modi and Chinese President Xi Jinping in Kazan on October 23, 2024.
The Modi-Xi meeting came two days after India and China firmed up a disengagement pact for Depsang and Demchok.
(With inputs from PTI)
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Newsindia ‘India Hopes Zero-Tolerance For Terrorism’: EAM Jaishankar To Chinese Counterpart
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India has a significant opportunity to increase its chemical exports to the United States if it manages to negotiate for less than 25 per cent tariffs, according to a recent report by the State Bank of India (SBI). The report noted that by capturing a part of the market share currently held by China and Singapore, India can increase its share in chemical exports to US.
The report highlighted that if India is able to capture just 2 per cent of the chemical export share from these two countries, it can potentially add 0.2 per cent to its Gross Domestic Product (GDP).
SBI stated “India can capture China and Singapore’s share in chemical exports to US”.
The report pointed out that among the top five imports by the USA, India has a revealed comparative advantage (RCA) only in the chemicals sector.
However, its share in this category remains lower compared to other Asian countries like China and Singapore. At present, China and Singapore have a larger share of chemical exports to the US than India.
With China now facing higher tariffs on exports to the US, the report notes that this could open a window of opportunity for India to step in and increase its exports in chemicals, including pharmaceutical products.
The report further stated that if India is able to bring down the applicable tariff on its chemical exports to below 25 per cent, the level currently applicable to Singapore, it can become more competitive and seize some of the existing market share held by Singapore and China.
Additionally, the SBI report noted that India can also gain from other countries such as Japan, Malaysia, and South Korea, which now face higher tariffs than India.
If India captures even a 1 per cent share of the US chemical import market from these three countries, it could result in an additional 0.1 per cent increase in India’s GDP.
In total, the report suggested that India has the potential to add 0.3 per cent to its GDP if it strategically captures a 2 per cent share from China and Singapore and 1 per cent from Japan, Malaysia, and South Korea in the US chemicals import market.
Air India CEO Campbell Wilson reacts to AAIB’s preliminary report saying, “AAIB’s initial report on AI plane crash found no mechanical or maintenance issues with aircraft or engines.”
Pilots passed mandatory pre-flight breath analyser; no observations pertaining to their medical status, he added.
AAIB initial report identified no cause nor made any recommendations; urge everyone to avoid drawing premature conclusions, Wilson said.
AI CEO also said, “Out of abundance of caution, every Boeing 787 operating in fleet checked within days of the crash and found fit for service.”
The Indian stock market closed sharply lower on Friday, July 11, as escalating trade tensions between the US and its global partners, combined with a disappointing start to the Q1 earnings season, weighed heavily on investor sentiment.
The Sensex declined by 690 points, or 0.83%, to finish at 82,500.47, while the Nifty 50 dropped 205 points, or 0.81%, to settle at 25,149.85.
“ Markets traded under pressure on Friday and lost over half a percent, dragged down by weak cues. The session began on a negative note following disappointing results from IT major TCS, which further worsened due to profit-taking in heavyweight stocks across other sectors. Sentiment remained subdued due to ongoing uncertainty around tariff-related issues and a weak start to the earnings season. As a result, the Nifty slipped below its first line of defense—the 20-day exponential moving average (20-DEMA)—disrupting the ongoing positive trend. We may now see a phase of consolidation in the index, with upcoming earnings keeping volatility high across sectors. In this environment, traders should exercise greater caution, focus on risk management, and be selective while identifying trading opportunities,” said Ajit Mishra – SVP, Research, Religare Broking Ltd.
Markets declined over the week, slipping more than one percent, mainly due to ongoing uncertainty over global tariffs and a weak beginning to the earnings season. Although the sentiment stayed mostly steady during the first three sessions, profit booking in the later part of the week pulled the indices down.
Eventually, both the Nifty and Sensex settled near their weekly lows at 25,149.85 and 82,500.47, respectively.
According to Bajaj Broking Research, “ The index formed a sizable bear candle with a lower high and lower low signaling continuation of the corrective decline for the third session in a row. Market activity was largely stock-specific, awaiting concrete cues on both macro and micro fronts. Key observation on the daily chart is that the index has already taken 10 sessions to retrace just 38.2% of the previous 11 sessions up move (24,473-25669). A shallow retracement signals a positive structure and a potential higher bottom formation. Nifty has a crucial support zone between 24,900-25,100, marked by the confluence of the 50-day EMA, a previous breakout region, and key retracement levels of the recent uptrend. We anticipate the index to hold above this support zone and move higher towards the 25,500–25,600 range in the coming weeks. Therefore, we view the current dips as a buying opportunity.”
On the Bank Nifty outlook, brokerage firm Bajaj Broking said, “ Bank Nifty formed a bear candle with a lower high and lower low signaling continuation of the corrective decline for the second session in a row. The index on expected lines in the last six sessions is seen consolidating in the range 56,500-57,600. We expect the index to extend the same and only a move below 56,500 will signal extension of corrective decline towards key support area of 56,000-55,500. Key short-term term support is placed at 56,000–55,500 region, representing a confluence of the 50-day EMA and the key retracement level. The broader trend remains positive, and any dips should be viewed as buying opportunities.”
Here are the key triggers for stock markets in the coming week:
US-India trade deal
According to Bloomberg report, the US is aiming to finalize a temporary trade agreement with India that could lower its proposed tariffs to under 20%. Unlike several other countries that received formal tariff demand letters this week, India is not expecting such a notice. Instead, the trade deal is likely to be revealed through an official statement.
Trump’s tariffs
On Saturday, US President Donald Trump escalated the ongoing trade war by threatening to impose a 30% tariff on imports from Mexico and the European Union starting August 1.
The announcement, made via separate letters to European Commission President Ursula von der Leyen and Mexican President Claudia Sheinbaum on Truth Social, drew criticism from both regions. The EU and Mexico condemned the proposed tariffs as unfair and harmful, but reaffirmed their commitment to continue negotiating a comprehensive trade agreement with the US before the August deadline.
Q1 earnings
The earnings season has officially begun, with TCS reporting below-par results. As per the earnings calendar, more than 50 companies will be declaring their June quarter results next week.
IPO Activity
The primary market will witness opening of three new public issues, including Anthem Biosciences IPO in mainboard segment and two others in SME segment.
Apart from new issues, the market will also witness six new listings in the upcoming week.
FII Activity
As per data from the NSE released on July 11, Foreign Portfolio Investors (FPIs) offloaded Indian equities worth ₹5,104 crore, while Domestic Institutional Investors (DIIs) made net purchases amounting to ₹3,558 crore.
Domestic institutional investors (DIIs) made equity purchases totaling ₹15,728.51 crore and sold shares worth ₹12,169.88 crore. In contrast, foreign portfolio investors (FPIs) bought stocks valued at ₹11,998.56 crore and sold holdings worth ₹17,102.78 crore.
So far this year, foreign institutional investors (FIIs) have remained net sellers, offloading equities worth ₹1.25 lakh crore, while DIIs have emerged as net buyers with total purchases amounting to ₹3.60 lakh crore.
” There are signs of FPI inflows weakening. After three months of positive inflows FPI has turned negative, though marginally, so far in July. FPI inflows into equity through stock exchanges in July up to 11th show a negative figure of ₹555 crores. (NSDL) This is the first negative inflow number after three months of positive inflows in April, May and June.
The first three months of this year FPI inflows were negative and this trend was reversed in the next three months.
An important trend in FPI investment is that FPIs have been consistent buyers/investors in the primary market even when they have been selling through the exchanges,” said VK Vijayakumar, Chief Investment Strategist, Geojit Investments Limited.
Oil prices climbed more than 2% on Friday after the International Energy Agency indicated that the market is tighter than it appears. Additionally, attention was on U.S. tariffs and the potential for more sanctions on Russia.
Brent crude futures increased by $1.72, or 2.5%, to close at $70.36 per barrel, while U.S. West Texas Intermediate (WTI) crude rose by $1.88, or 2.8%, to settle at $68.45 per barrel.
Over the week, Brent recorded a 3% gain, and WTI rose approximately 2.2%. The September Brent contract traded at a premium of about $1.20 over the October contract.
According to Ajit Mishra – SVP, Research, Religare Broking Ltd, volatility is expected to persist amid global uncertainties and the unfolding earnings season.
Mishra said, “ Nifty slipped below its crucial short-term moving average—the 20-day EMA—and has entered the previous consolidation range of 24,500–25,200. This breakdown has disrupted the positive bias, potentially leading to extended consolidation. On the downside, the 24,500–24,900 zone will act as a key support area, while on the upside, 25,550 remains a critical hurdle in the event of a rebound, with major resistance at 25,750.”
The banking index continues to show resilience. However, mixed trends among private sector banking heavyweights are keeping participants uncertain about the next directional move.
“ We expect the 55,100–55,900 zone to provide strong support in case of profit booking, while the previous swing high near 57,600 and 58,400 will act as resistance levels,” Mishra added.
Disclaimer: This story is for educational purposes only. The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified experts before making any investment decisions.
Nifty50 index experienced a volatile trading week, declining 1.22% on a weekly basis. This led to the formation of another bearish candle on the weekly chart, continuing the ‘lower-high lower-low’ price structure. Among sectoral performances, Nifty IT index emerged as the worst performer, while Pharma stood out as the top gainer over the week.
On Friday, the index fell sharply 0.81%, closing below the crucial 25,200 mark and forming a bearish candle on the daily chart. Sectoral participation remained weak, with most major indices ending in the red. Notably, Nifty IT and Auto sectors underperformed, while Pharma managed to close in positive territory. Broader market sentiment deteriorated, as both Nifty Midcap and Smallcap indices closed near their respective intraday lows. The overall market breadth was negative, with a 2:1 advance-decline ratio, highlighting broader selling pressure across the board.
Nifty50 has breached its 21-DMA and closed below it, indicating near-term weakness. On the daily chart, the relative strength index is trending downward and currently hovers near 48, reflecting waning bullish momentum. Additionally, a negative crossover in the MACD further reinforces the weakening short-term trend. However, on the weekly timeframe, technical indicators remain relatively constructive. The RSI continues to track a bullish trajectory around 58, supported by a positive MACD crossover, suggesting the broader trend still retains a bullish undertone despite short-term corrective moves.
According to O’Neil’s methodology of market direction, Nifty reclaimed its recent high of 25,116. Hence, the market status has been upgraded to a Confirmed Uptrend as of 11 June 2024.
Nifty50 extended its downward momentum on Friday, closing below the 21-DMA amid a volatile trading week and settling below 25,200. The 25,000–24,900 range now emerges as a crucial support zone to monitor. On the upside, resistance levels are positioned near 25,500, followed by 25,700. Overall, the prevailing trend suggests a phase of sideways consolidation within the broad range of 24,900–25,500 in the near term.
How did Nifty Bank Perform?
Nifty Bank index declined approximately 0.49% over the past week, forming a small bearish candle accompanied by a long upper wick, indicating profit booking near higher levels. On the daily chart, the index lost 0.35% on Friday, closing on a bearish candle. It opened at 56,843.45 and traded within a narrow range between 57,091 and 56,607 before settling at 56,754. FINNIFTY mirrored this weakness, following a similar downward trajectory and closing the session with a loss of close to 0.49%.
The index found support near its 21-DMA on Friday, closing above this level and maintaining a position above all its key moving averages on the daily chart. However, the daily relative strength index is trending lower and currently hovers around 52, indicating a loss of short-term momentum. This is further corroborated by a negative crossover on the daily MACD. In contrast, the weekly RSI continues its bullish trajectory, supported by a positive MACD crossover, suggesting that the medium-term trend remains intact despite recent short-term weakness.
As per O’Neil’s methodology of market direction, Bank Nifty remains in a “Confirmed Uptrend”, a trend it has sustained over the past few weeks.
Bank Nifty closed below the critical 57,000 level on Friday, displaying a clear negative bias. Continued trading below this threshold could intensify selling pressure, potentially driving the index toward the 56,200–56,000 support zone in the near term. Conversely, a decisive break and sustained hold above 57,000 may lead to range-bound activity between 57,000 and 57,600.
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NEW DELHI/MUMBAI: A day after Airline Pilots’ Association of India said Aircraft Accident Investigation Bureau’s (AAIB) preliminary report on the Air India 171 crash led to the promoting of a “presumption of pilot guilt” even before the probe was complete, Indian Commercial Pilots’ Association (ICPA), one of the Air India pilots’ unions, on Sunday slammed the “reckless and unfounded insinuation of pilot suicide” that has been doing the rounds since the report was made public on Saturday.AAIB had stated that both fuel switches on the Boeing 787 transitioned from “run” to “cut-off” three seconds after it took off from the runway, cutting off fuel supply to the engines. “In the cockpit voice recording, one of the pilots is heard asking the other, ‘Why did you cut off (the fuel supply)?’ The other responded he did not do so,” according to the report. However, it didn’t elucidate why the fuel control switches were cut off.
Soon after the report’s release, pilots and aviation experts, in interviews and posts on social media, claimed one of the pilots had knowingly cut off the fuel supply switch.Until final report is out, any speculation unacceptable: UnionThe pilots of AI 171, which crashed in Ahmedabad on June 12 killing 270 people, acted in line with their training and responsibilities under challenging conditions, ICPA, one of the AI pilots’ unions, said, adding the crew should not be vilified based on conjecture.Referring to a 2018 safety bulletin issued by the US aviation regulator that instructed airlines to look out for a possible mechanical fault with the fuel control switches — which could cut off fuel supply to the engines without pilot input — the report said that Air India did not carry out the inspection as it was not deemed mandatory.“In the aftermath of this incident, we are deeply disturbed by speculative narratives emerging in sections of the media and public discourse — particularly the reckless and unfounded insinuation of pilot suicide. Let us be unequivocally clear: there is absolutely no basis for such a claim at this stage, and invoking such a serious allegation based on incomplete or preliminary information is not only irresponsible — it is deeply insensitive to the individuals and families involved,” said ICPA.“Pilots undergo extensive psychological and professional screening, recurrent training, and operate under the highest standards of safety, responsibility, and mental fitness. To casually suggest pilot suicide in the absence of verified evidence is a gross violation of ethical reporting and a disservice to the dignity of the profession,” it added.“As aviation professionals, we trust and respect the rigorous investigative protocols established by competent authorities. These inquiries are designed to uncover facts methodically and without bias. Until the official investigation is concluded and the final report is published, any speculation — especially of such a grave nature — is unacceptable and must be condemned,” ICPA said, calling on media and public commentators to act with restraint, empathy, and respect for due process.
JAMMU: A fresh batch comprising 7,049 pilgrims left for Shri Amarnath Yatra amid religious chants on Sunday morning from Bhagwati Nagar in the city. The holy cave shrine is situated in the Himalayas in south Kashmir.“The pilgrims left for Shri Amarnath cave shrine from Jammu base camp in a fleet of 286 vehicles under tight security cover,” officials said.The 38-day annual pilgrimage to the holy cave shrine began from two routes on July 3 and is scheduled to end on August 9, coinciding with the Raksha Bandhan festival.The pilgrimage was flagged off by Manoj Sinha, lieutenant governor, on July 2 and, so far, around 2 lakh pilgrims have visited the holy shrine in 11 batches.
Sundar was India’s top performer with the ball on Day 4 of the Lord’s Test. He bowled 12.1 overs and picked up four wickets for 22 runs.
Washington Sundar makes bold prediction for third India-England Test. (Picture Credit: AFP)
The third Test of the ongoing five-match series between India and England is evenly poised after four days of play. After bowling England out for 192 in the second innings, India finished Day 4’s play at 58/4 in 17.4 overs. The visitors need 135 more runs on the final day to win the game at the Home of Cricket and go 2-1 up in the series, whereas the hosts are just six wickets away from a memorable win.
There will be too much to fight for on the final day of the match, but according to India’s star all-rounder Washington Sundar, India will definitely win the match tomorrow (Monday).
While speaking to Nasser Hussain and Kumar Sangakkara on Sky Sports, Sundar said, “Definitely India winning tomorrow, probably in the first session.”
When asked to give the time by which the match will be done and dusted, Sundar added, “Probably just after lunch.”
“The position that we are in right now… probably for 1 (wicket loss) at the stumps would have been ideal, but yes, the way we bowled, all the fast bowlers in particular, the way they came out today and kept the pressure going throughout the day was amazing.”
Sundar was India’s top performer with the ball in the second innings. The Tamil Nadu-based cricketer bowled 12.1 overs on Sunday and picked up four wickets for 22 runs. He opened his wicket account by dismissing Joe Root in the post-lunch session and then clean bowled Jamie Smith as well.
While Root scored 40 runs from 96 balls, Smith could only manage to score 8 runs. In the third session, Sundar breached Ben Stokes’s defence and shattered his stumps for 33 runs and then wrapped up England’s innings by removing Shoaib Bashir for 2 runs.
For India, apart from him, pacers Mohammed Siraj and Jasprit Bumrah also picked up two wickets each, and one English batter each was sent back to the pavilion by Akash Deep and Nitish Kumar Reddy.
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