Fed Rate Cut, Trade Talks With US And More — The Week That Was
Here's a wrap-up of the top stories this week.
From the Fed rate cut to India and US resuming trade talks, the week was filled with high-impact news. This week also saw Prime Minister Narendra Modi's birthday and SEBI giving a clean chit to the Adani Group in the Hindenburg case.
Here's a wrap-up of the top stories this week.
Fed Rate Cut
The US Federal Reserve cut interest rates by 25 basis points while lowering the target range to 4-4.25%. This marked the first time the Fed has cut rates this year, which may have ramifications for the Indian stock market as well.
Market participants will be closely watching the spillover effect of the US Fed rate cut on emerging economies and the Indian stock market will be a key focus area. However, experts believe the US Federal Reserve's policy cut could open the door for the Reserve Bank of India to adjust rates sooner than expected.
SEBI Gives Clean Chit To Adani in Hindenburg Case
In a big boost to Adani, markets regulator SEBI cleared the billionaire and his group of stock manipulation allegations made by Hindenburg Research, saying fund transfer between group companies did not fall foul of any regulation.
The SEBI, in two separate detailed orders, said the allegations of insider trading, market manipulation, and violations of public shareholding norms were found to be unsubstantiated after a detailed investigation.
India-US Resume Trade Talks
Union Commerce Minister Piyush Goyal said relations between India and the US remain positive as leaders of both countries are friends and asserted that every situation will be addressed satisfactorily.
"We have been holding discussions for the last few months. Yesterday, a US representative was in India. Talks are going on. President Donald Trump also wished Modi on his birthday. India and the US are friendly countries; our leaders are friends. Every situation will be addressed satisfactorily," Goyal said.
PM Narendra Modi's Birthday
Prime Minister Narendra Modi turned 75 with a host of dignitaries and politicians, actors, etc sending him warm wishes. The BJP launched over-a-fortnight-long 'Sewa Pakhwada' to mark his birthday.
The BJP-run governments at the Centre and states lined up an array of outreach, welfare, development and awareness programmes, ranging from health camps to cleanliness drive, get togethers of intellectuals and fairs to promote indigenous products across the country till October 2
Pakistan's At Asia Cup 2025
Pakistan was forced to climb down from its pullout threat and show up for a crucial Asia Cup game against the UAE but not before causing a dramatic delay after the ICC's persistent rejection of its demand to remove match referee Andy Pycroft.
The team had earlier refused to leave its hotel for the must-win group match as Pycroft. Pakistan had held Pycroft responsible for the embarrassment it faced after its captain Salman Ali Agha and India skipper Suryakumar did not exchange a handshake and their team sheets during the toss last Sunday.
