Among the top news of the day, SEBI has raised the disclosure threshold for foreign portfolio investors and set up a panel to review conflict of interest rules. Meanwhile, the government has proposed removing the 6% equalisation levy on online advertising as part of amendments to the Finance Bill 2025.
On the equity markets front, India’s benchmark indices extended their winning streak to a sixth session, closing at a near two-month high. The rupee also hit a two-month high against the US dollar, supported by the Reserve Bank of India’s $10 billion buy-sell swap. In the US, stock futures rallied as investors took comfort in signs that upcoming tariffs may be more targeted.
Here’s a roundup of news that made headlines today:
SEBI Tightens FPI Rules, Sets Up New Panel
The Securities and Exchange Board of India has doubled the disclosure threshold for foreign portfolio investors to Rs 50,000 crore in equity assets under management. It also set up a high-level committee to review conflict of interest provisions for board members and officials.
This was SEBI’s first board meeting under new chairperson Tuhin Kanta Pandey, who took charge earlier this month.
Centre Hikes MPs’ Salaries, Allowances, And Pensions
The Centre has raised the monthly salary of MPs to Rs 1.24 lakh from Rs 1 lakh, effective April 1, 2023, as per a gazette notification. The daily allowance is now Rs 2,500, up from Rs 2,000, while the pension for former MPs has increased to Rs 31,000 from Rs 25,000.
Find out more on the salary hike.
US Stock Futures Rally, Indian Indices Extend Gains
Nasdaq 100 futures jumped 1.4% as investors bought beaten-down tech stocks, with Tesla gaining 4% in premarket trade. The S&P 500 also climbed over 1% on signs of more targeted US tariffs.
Back home, Indian indices recorded their longest winning streak in six months, with the NSE Nifty 50 closing 1.32% higher at 23,658.35 and the BSE Sensex rising 1.4% to 77,984.38.
Markets on a roll – check the trends.
Government To Scrap 6% Equalisation Levy On Online Ads
The Centre has proposed removing the 6% equalisation levy on online advertising in the Finance Bill 2025. The move comes after India scrapped the 2% levy on e-commerce last year, which had triggered trade tensions with the US.
The bill also includes 35 amendments, including changes to tax rules for offshore fund managers in India, sources told NDTV Profit.
Read to find out what this means for digital businesses.
Zerodha CEO’s 10-Minute Response Leaves User Impressed
Bengaluru-based Sachin Jha wrote to Zerodha CEO Nithin Kamath about having to close his account due to a compliance mandate from his wife’s employer. He didn’t expect a reply—but Kamath responded within 10 minutes.
Zerodha’s team immediately addressed the issue and started working on a solution, winning Jha’s trust despite his account closure.
Read the full story.
Rupee Closes At Over Two-Month High Against US Dollar
The rupee gained 33 paise to close at 85.64 against the US dollar, marking its highest level since December 31, 2024. The currency has now strengthened for nine straight sessions, the longest winning streak since January 2024.
RBI’s $10 billion buy-sell swap played a key role in boosting the rupee’s momentum.
Check what’s driving the rally.
Raamdeo Agrawal Turns Bullish On Banks Amid Sector Revival
The banking sector is making a strong comeback, with Nifty Bank hitting a three-month high and Nifty Financial Services near a six-month high.
Motilal Oswal’s Raamdeo Agrawal believes banks are set to be the best performers this cycle, with clean balance sheets, rising credit growth, and potential interest rate cuts driving optimism.
Zomato Leads Food Delivery, Swiggy Bolt Rules Quick Commerce
A Bank of America survey of 1,000 users found that Zomato is the most preferred food delivery app (32%), followed by Swiggy (28%). However, Swiggy Bolt dominated the 10-15 minute quick delivery segment, preferred by 47% of users compared to Zepto Café’s 16%.
What’s driving customer preferences?
Here are other top stories that you cannot miss
How To Fix Errors In Your Credit Report: A Step-by-Step Guide
Shyam Metalics Gets Its Most Bullish Price Target Yet As Anti-Dumping Duty Boosts Outlook
Radico Khaitan Plans Three New Luxury Launches, Expects Premiumisation Trend To Stay
US Trade Officials To Visit India As Trump's Tariff Deadline Approaches
FMCG Distributors' Inventory Piles Up As Sales Falter After January Uptick
Provident Fund: From Benefits to Withdrawals—All Your Questions Answered
RECOMMENDED FOR YOU
Car Loans In July 2025: Lowest Interest Rates From Top Banks Compared
Jul 06, 2025
Zerodha's Nithin Kamath Warns Jane Street Crackdown Could Be 'Bad News': 'If Allegations Are True...'
Jul 04, 2025
SEBI Top Official Raises Concerns Over Surge In Fake Apps Impersonating As Registered Firms | Profit Exclusive
Jul 04, 2025
IPO-Bound Groww Crosses 10 Crore Downloads On Playstore As Lead Over Zerodha Widens
Jun 28, 2025
POPULAR